University of Tokyo and Keio University joined multiple corporates in a round that brought the pre-clinical drug developer's funding haul to $33.1m.
Japan-based drug developer Modulus Discovery completed a ¥2.7bn ($25.2m) series B round yesterday featuring UTokyo Innovation Platform and Keio Innovation Initiative, investing for University of Tokyo and Keio University, respectively.
SBI Investments, Mizuho Capital and SMBC Venture Capital – investing on behalf of financial services firms SBI Holdings, Mizuho Bank and Sumitomo Mitsui Banking Corporation – also participated, as did life insurer Dai-ichi Life Insurance, drug manufacturer Essential Pharma and women’s healthcare company Medi-Future.
Jafco, Fast Track Initiative and Mobile Internet Capital also contributed. The latter is backed by NTT Docomo, the mobile arm of telecoms firm NTT Group, as well as Mizuho Bank-owned Mizuho Securities and internet technology agency Internet Research Institute.
Modulus Discovery develops small molecule drugs for cancer, rare genetic diseases and chronic inflammation and immune disorders.
Its portfolio includes two cancer drugs: one which inhibits certain modulators to prevent tumours from repairing…
