Utec has made its largest initial commitment to date by backing Keio-founded Metcela, a developer of cell therapies for heart disease.
Metcela, a Japan-based heart failure treatment developer spun out of Keio University, has closed a $12.7m series B round led by University of Tokyo Edge Capital (Utec) Partners, the institution’s venture capital arm.
Utec invested as part of Metcela’s second series B tranche together with pharmaceutical firm Alfresa, insurer Dai-ichi Life Insurance, science park operator KSP and Makoto Capital, a division of business creation company Makoto.
The initial $4m close in April 2020 featured electronics maker Sony’s Innovation…
