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.