TOKYO (dpa-AFX) - Takeda Pharmaceutical Co. Ltd. (TAK), Astellas Pharma Inc.
(ALPMY), and Sumitomo Mitsui Banking Corp. announced Monday that they have
signed a master agreement to establish a joint venture company.

The new JV will be for the incubation of early drug discovery programs,
primarily originating from Japan and toward the creation of innovative
therapeutics.

The JV is expected to be established in mid-2024, and it's capital would be
around 600 million yen, including capital reserve.

Both Takeda and Astellas will hold 33.4% each in the JV, while SMBC will hold
33.2%.

The name of the new company is yet to be determined. It's CEO will be Toshio
Fujimoto, and located at Shonan Health Innovation Park in Kanagawa, Japan.

Fujimoto will concurrently serve as President and Representative Director of the
iPark Institute Co., Ltd.

The joint venture company will focus on advancing innovative drug discovery
programs; Incubating globally competitive drug discovery technology and
fostering entrepreneurship; as well as unleashing the potential of drug
discovery ecosystem in Japan through the creation of high caliber start-up
companies.

Further, Takeda and Astellas will provide support to the joint venture company,
aiming to accelerate open innovation in early-stage drug discovery, and toward
the creation of start-up companies for the benefit of society.

The three companies will further discuss the details of the agreement to
complete the inception of the joint venture company and commence operations.



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