FIMECS has concluded a strategic licensing agreement with Takeda Pharmaceutical. FIMECS raised 250M JPY (US$~2.3M) in funding by third-party allocation of shares underwritten by Cosmo Bio and Takeda to research and develop first-in-class protein degradation therapeutics for the treatment of cancer.
Under the licensing agreement, the company received compound assets including first-in-class E3 ligase binders and novel pseudokinase targeting binders, which enable the acceleration of protein degradation therapeutics to ‘undruggable’ targets — a critical area of cancer research requiring new innovation.
“We are excited by the momentum of FIMECS and to make Shonan Health Innovation Park our new home for developing meaningful innovations in difficult-to-target protein degradation,” said Yusuke Tominari, Co-founder and CEO. “Our mission is to create innovative modalities to access expanded cancer targets previously thought to be ‘undruggable’ and contribute to the delivery of new and lifesaving medicines to patients around the world.”