ANNOUNCEMENT 24 Mar 2016

On March 24, 2016, the Innovation Network Corporation of Japan (INCJ) invested in Japanese corporation Stella Pharma Co.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

INCJ (2016). 住友重機械工業と産業革新機構がホウ素中性子捕捉療法(BNCT)に用いるホウ素薬剤を開発するステラファーマ株式会社への出資を決定 ("Sumitomo Heavy Industries and Industrial Innovation Organization decided to invest in Stella Pharma Co., Ltd. to develop boron drug used for Boron Neutron Capture Therapy (BNCT)"). Available at
https://www.incj.co.jp/news/2016/20160324.html

More information about INCJ's relation with Stella Pharma Co can be found at...
https://www.incj.co.jp/performance/upload/docs/1458790389.02.pdf

Inception date: 24 Mar 2016 | Removal date: open ended
Still in force

Capital injection and equity stakes (including bailouts)

On March 24, 2016, the Innovation Network Corporation of Japan (INCJ) bought 3.5 billion yen (30 million USD) worth of shares in Stella Pharma Co. The investment relates to the boron isotope enrichment technology for boron drugs.

About the Innovation Network Corporation of Japan (INCJ)
In 2009, INCJ was created as a public-private investment fund to financially support industries "next-generation businesses". INCJ supports projects that "combine technologies and varied expertise across industries and materialize open innovation.". According to the INCJ website, the fund has an investment capacity of up to USD 20 billion. Although characterized as a public-private partnership, in fact only 0.1 billion of the 2.6 billion USD invested in the fund was provided by the private sector. The rest came from the Japanese government. Of the 0.1 billion USD said to be contributed by the private sector, 13.6 million USD was in fact provided by the Development Bank of Japan, a state-owned bank. 

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