HISHOH Biopharma Inc. enters into license agreement for substance with immunostimulatory effects, and simultaneously conducts third-party allotment of new shares in a seed round
Raised approximately 250 million yen through third-party allotment of new shares
HISHOH Biopharma Inc. (Representative Director and President: Naoki Sakurai, Location: Chuo-ku, Tokyo, hereinafter "HISHOH") has concluded a license agreement with Daiichi Sankyo Company, Limited regarding an immunostimulatory substance used for sublingual immunotherapy (allergen immunotherapy) for allergic diseases. In addition, HISHOH raised a total of approximately 250 million yen in a seed round through a third-party allotment of shares to Mitsubishi UFJ Capital Co., Ltd., DBJ Capital Co., Ltd., and BiLiJ Inc. as underwriters.
HISHOH is a drug discovery venture developing a novel immunostimulatory substance with a new mechanism of action, which is expected to improve therapeutic efficacy when used in combination with existing sublingual immunotherapy. Naoki Sakurai, Representative Director and President (former CEO of Tanabe Research Laboratories U.S.A.), stated, "Sublingual immunotherapy using HISHOH's novel compounds is expected to lead to the rapid remission of allergic diseases, starting with pollinosis. HISHOH will proceed with the development of this drug to realize a 'world without allergies'." HISHOH aims to create a new business model by bringing together drug discovery technology originating from Japanese pharmaceutical companies, an extensive domestic and international network, members with rich research and development experience in pharmaceutical companies, and venture capital venture support know-how.
About HISHOH Biopharma Inc.
HISHOH Biopharma aims to create a new business model by bringing together drug discovery technology originating from a Japanese pharmaceutical company, members with abundant R&D experience in pharmaceutical companies and extensive domestic and international networks, and venture capital's venture support expertise. The name HISHOH is derived from "hisho," meaning soaring into the sky.
About BioLite Japan Inc.
BioLiteJapan was established in 2018 with the aim of supporting biotechnology companies with innovative seeds in Japan and APAC and expanding them globally. Its founder, Toru Seo, is a parallel entrepreneur who has led business development for pharmaceutical companies, including Pfizer, for many years.
About Mitsubishi UFJ Capital
Since its establishment in 1974, Mitsubishi UFJ Capital has provided industry-leading know-how as the venture capital arm of the Mitsubishi UFJ Financial Group, investing in a wide range of industries. With approximately 900 portfolio companies that have successfully achieved an IPO across diverse sectors, it boasts a top-tier track record in the industry.
In the life sciences field, following the establishment of the Life Science Office in 2009, we began full-scale financing and management support for domestic and international biotech startups. In 2017, we established the Life Science Department and formed our first industry-focused fund, Mitsubishi UF Life Science 1 Limited Partnership (10 billion yen). In February 2019, we formed Mitsubishi UF Life Science 2 Limited Partnership (10 billion yen), and in June 2020, we formed the MUFG Medical Fund (10 billion yen) to support startup companies engaged in drug discovery, regenerative medicine, and other areas, including countermeasures against COVID-19. Going beyond biotech startup investments, we are also focusing on academic drug discovery, pharmaceutical company carve-out projects, investments in pharmaceutical development projects, and medical device-related sectors.
About DBJ Capital Co., Ltd.
DBJ Capital Co., Ltd. is a wholly owned subsidiary of the Development Bank of Japan, Inc. (DBJ) and is responsible for the DBJ Group’s venture capital operations.The company makes equity investments to provide growth capital for venture companies that are leveraging new technologies and business models to grow with international competitiveness. It also provides financial support by leveraging various networks, including that of DBJ, and arranges solutions from across the DBJ Group tailored to the needs of its portfolio companies.
