Ono Expands Investment in Ono Venture Investment Fund I, L.P. to US$200 Million
01 Dec 2023
- Double the investment scale to accelerate open innovation and make strategic investments in bio-venture companies -
OSAKA, Japan, Dec. 1, 2023 /PRNewswire/ -- Ono Pharmaceutical Co., Ltd. (Osaka, Japan; President and CEO: Gyo Sagara; "Ono") today announced that in order to accelerate the open innovation, it has increased its investment pool from US$100 million to US$200 million to continue strategic investment in Ono Venture Investment Fund I, L.P. ("OVI FI"), which was established as a corporate venture capital fund in CA, USA in May 2020.
With the aim of accessing and partnering on drug discovery targets and cutting-edge technologies for the generation of innovative medicines, Ono established Ono Venture Investment, Inc. (South San Francisco, CA, USA: "OVI"), as well as OVI FI as local subsidiaries in the U.S. in May 2020. OVI manages the investment fund and invests in bio-ventures and startup companies.
Since the establishment in 2020, OVI and OVI FI have been supporting the drug discovery activities through strategic investments in 11 bio-venture companies to date, including the most recent investment in Photys Therapeutics (Waltham, MA, USA).
With this increase in investment, Ono will create and accelerate further open innovation through OVI and OVI FI activities, and make more strategic investments in bio-venture companies and startup companies. In this way, Ono will continue to promote innovation and work to achieve the sustainable growth through the creation of innovative new drugs.
SOURCE ONO PHARMA USA, INC.
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