Itochu and Sosei agree on capital and business alliances
Itochu Corporation and Sosei Co. Ltd. announced that they have agreed on a capital alliance whereby Itochu will acquire approximately 2% of the issued shares of Sosei. In addition to this capital alliance the parties will also enter into a strategic collaboration for biopharmaceutical business opportunities.
In the collaboration, Itochu will introduce to Sosei, on a priority basis, a number of promising biopharmaceutical companies from amongst Itochu's strategic business partners. These include, for example, portfolio companies of MPM Capital in the US and potential venture companies spun out from academia such as Columbia University. Itochu's plan includes offering the supply of chemical compounds, pharmaceutical distribution, medical representative assistance and other pharmaceutical related services which can be provided by the Itochu Group.
Sosei is a Japanese biopharmaceutical company operating on a global basis and its current pipeline contains 9 core products which have been acquired via its various distinctive resources. These products are now being developed through various R&D collaborations and supervised by Sosei's experienced management. Itochu will make good use of Sosei's product evaluation expertise and biotech business know-how.
Through these alliances, Itochu intends to establish a solid basis for biopharmaceutical as well as drug discovery service businesses. Sosei aims to expand its access to additional promising compounds and cutting edge technologies to enrich its core product pipeline.
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