ANNOUNCEMENT 25 Dec 2018
On December 25th, 2018, the Innovation Network Corporation of Japan (INCJ) made an additional investment in the Japanese corporation NapaJen Pharma, Inc.
NUMBER OF INTERVENTIONS
INCJ (2018) 日本発、全身性の核酸医薬の開発を目指すバイオベンチャーNapaJen Pharma, Inc.への追加投資を決定 Japan aims to develop systemic nucleic acid medicine Determined additional investment in bio venture NapaJen Pharma, Inc.
On December 25th, 2018, the INCJ announced an additional 12 million USD investment in the equity of NapaJen Pharma, Inc. The injection shall support the company's research and manufacturing of nucleic acid medicines and drug delivery system. Napajet's headquarters is located in California.
Two prior investments were made in NapaJen for a total of 21 million USD. With this new investment, the total capital investment by INCJ in NapaJen equals 33 million USD.
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.