Daiichi Sankyo is establishing the new company with Innovation Network Corporation of Japan (INCJ) and Mitsubishi UFJ Capital Co., Ltd. (MUC). INCJ will underwrite third party allocation of new shares for the new company with a maximum investment of 1.65 billion yen. The new company will also issue new shares by third party allocation for a fund managed by MUC.
Daiichi Sankyo will invest in the new company and mainly conduct development with the goal of achieving proof of concept (POC) for clinical drug development.
In 2006, professor Masafumi Matsuo (Kobe Gakuin University Department of Medical Rehabilitation) and designated professor Yasuhiro Takeshima (Kobe University Graduate School of Medicine Department of Pediatrics) were the first in the world to demonstrate the effectiveness of anti-sense oligonucleotides to restore dystrophin expression in DMD sufferers through the mechanism known as exon skipping.
Daiichi Sankyo and Orphan Disease Treatment Institute will jointly conduct clinical and non-clinical studies with the cooperation and support of these two professors with the aim of achieving POC.
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