INNOVATION Kyoto 2016 LPs Completes Strategic Investment in DrugCendR Inc.
(Kyoto, Japan / La Jolla, CA) – INNOVATION Kyoto 2016 Limited Liability Partnership (“KYOTO-iCAP 1st Fund”), and Kyoto University Innovation Capital Co., Ltd. (the general partner. Headquarters: Sakyo-ku, Kyoto City; CEO: Koji Murota; “Kyoto-iCAP”) and DrugCendR Inc. (Headquarters: La Jolla, CA, US; President and CEO: Erkki Ruoslahti; “DrugCendR”) today jointly announced that it has concluded a multimillion-dollar investment in DrugCendR, to accelerate the global development of DrugCendR’s breakthrough tumor penetrating technology.
“I am delighted to announce the completion of the strategic investment in DrugCendR Inc. We, Kyoto-iCAP, will continue to support the development of DrugCendR’s technologies in the long term.”said Koji Murota, CEO of Kyoto-iCAP.
“This investment into DrugCendR Inc. by Kyoto-iCAP and Kyoto University will allow us to complete our ongoing phase 1 clinical trial on the lead compound of the company” stated Dr. Erkki Ruoslahti, M.D., Ph.D., President and CEO of DrugCendR. “The strategic relationship with the fund and Kyoto University, a preeminent university in the world, will be important for us into the future. We will also collaborate with clinical researchers led by Dr. Yoshiharu Sakai, M.D., Ph.D., Professor of Surgery on clinical studies the university is uniquely equipped to perform. We hope to provide new treatment options for cancer patients in the US, Japan and elsewhere in the world.”
Concurrent with the investment, DrugCendR will initiate non-clinical and clinical research collaboration with Kyoto University. Professor Yoshiharu Sakai, M.D., Ph.D., Gastrointestinal Surgery, Department of Surgery, Kyoto University and Associate Professor Kazutaka Obama, M.D., Ph.D. will lead the collaboration for Kyoto University.