Japan Digest: FTI leads $7.2m round in Modulus; Takeda backs Series A of Ambys

Tokyo-based Fast Track Initiative has led a $7.2-million funding round into Modulus Discovery while drug-maker Takeda and Third Rock Ventures have invested $60 million in the Series A funding of Ambys Medicine.

Fast Track Initiative leads $7.2m funding round into Modulus Discovery

Modulus Discovery, an early stage drug discovery company, has raised a total of JPY800 million ($7.2 million) for its Series A round, led by Fast Track Initiative (FTI), according to an official release.

The funding round was joined by PeptiDream, Inc. and DBJ Capital Co., Ltd, the venture capital subsidiary of Development Bank of Japan.

The company will use the funds to accelerate its drug discovery research through leveraging the company’s proprietary computational platform and efficient virtual pharma operating model.

Modulus Discovery is a private Tokyo-based pre-clinical stage drug discovery company focused on rapid design and generation of small molecule clinical candidates for a range of high-value disease targets.

Tokyo-based FTI is an independent venture capital firm with an exclusive focus on life sciences and healthcare services.

Takeda and Third Rock Ventures invest $60m in Ambys Medicines

Japan’s drug-maker Takeda and Third Rock Ventures have invested $60 million in Series A funding into US-based biotechnology firm Ambys Medicines, according to an announcement.

Ambys also secured another $80 million from Takeda via a strategic partnership, which includes options that allow Takeda to buy partial rights to Ambys’ first four drug candidates.

The partnership with Takeda brings Ambys’ total committed funding at launch to $140 million.

Ambys Medicines is preparing multiple strategies to develop novel medicines for patients suffering from chronic liver diseases.

Also Read:

Japan’s Astellas Pharma considers selling Europe assets to raise cash

Takeda clears US trade commission hurdle for $62b Shire acquisition 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.