Retina Institute Japan and Dainippon Sumitomo Pharma Form a Capital Alliance
Towards the Development of Nobel Prize Winning iPS Cell Technology
TOKYO -- March 29, 2013
Retina Institute Japan K.K. (RIJ) (Headquarters: Fukuoka, Japan; President:
Hardy T S Kagimoto, MD) and Dainippon Sumitomo Pharma Co., Ltd. (DSP)
(Headquarters: Osaka, Japan; President: Masayo Tada) announce today that the
two companies signed an agreement (Agreement) that DSP invests into RIJ to
discuss alliance to put iPS cell technology to practical use.
Under the Agreement, DSP has subscribed for 1.5 billion JPY of third party
allocation of shares by RIJ. DSP will exclusively discuss with RIJ to
collaborate in and outside Japan to use groundbreaking iPS cell technology to
cure Age-related Macular Degeneration.
In the Mid-term Business Plan, DSP states it will strengthen activities in
cell therapy and regenerative medicines. DSP expects this collaboration with
RIJ will contribute to the establishment of its business base for cell therapy
and regenerative medicines in the future.
RIJ is one of the RIKEN Ventures and aims to commercialize the world's first
pharmaceutical iPS cell-derived retinal pigment epithelial cells for an
estimated 21 billion dollar market based on the license of the patent on the
technology developed by RIKEN, one of the leading research institutes in
Japan. Moreover, both parties aim to develop other technologies like photo
receptor transplantation, retinal regenerative medicine and diagnostic methods
to make current refractory retinal diseases to treatable diseases.
RIJ President Hardy T S Kagimoto, MD stated that, "The significance of this
development cannot be underestimated. It is a privilege for RIJ to have the
opportunity to commercialize this exciting new technology and to transform the
lives of millions of patients globally."
Both parties look forward to working together to deliver therapeutic measures
to the patients with refractory retinal disease as early as possible and on
this crucial and world leading project in the area of regenerative medicine.
Overview of Retina Institute Japan
Company name: Retina Institute Japan KK
Location: Fukuoka, Japan
President & CEO: Hardy T S Kagimoto, MD
Date of establishment: February 24, 2011
Stock market: Unlisted
Overview of Dainippon Sumitomo Pharma
Company name: Dainippon Sumitomo Pharma Co., Ltd.
Location: Osaka, Japan
President: Masayo Tada
Date of establishment: May 14th, 1897
Stock market: (TOKYO:4506) Tokyo Stock Exchange Market, (OSAKA:4506) Osaka
Stock Exchange Market
Retina Institute Japan
Mr. Hiroo Kitazawa, +81-3-3507-5654
Corporate Planning Department
Dainippon Sumitomo Pharma
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