Herein is notice that the joint enterprise “Development of Drug Discovery Applications Using Neurons Derived from iPS Cells” by Keio University and Juntendo University (hereinafter “this joint enterprise”) pertaining to the Keihin coastal area Life Innovation International Strategy Comprehensive Special Zone “Yokohama Project” has been chosen as a business proposal to receive financial assistance for Relevant Leading Businesses in the Special District of Yokohama City in 2016.
The purpose of the “Assistance for Leading Businesses in the Special District” is the creation of health-related industries and the development or production of innovative drugs and medical devices by global businesses within the field of personalized/preventative medicine. The assistance is given to businesses in special districts that contribute to revitalizing the economy of Yokohama by expanding employment and industrial clusters in the city, and for worthy academic – industrial collaborations.
The purpose of this joint enterprise is to create new drug development technologies using neurons derived from iPS cells originating from patients, and to generate supporting applications. It is intended that such technologies could independently be adopted by the Pharmaceutical industry, or employed through collaborations with ReproCELL, Keio University, and/or Juntendo University. Furthermore, such technologies are expected to lower costs and shorten the period of time for developing and delivering innovative new therapies to patients in need.
Financial support to ReproCELL will be received to support research and development related to this joint enterprise. However, grant funds are expected to be delivered in the following year and therefore will not affect the earnings outlook for the current year.
ReproCELL will strategically pursue this and other research projects that utilize patient-derived IPS cells to develop tools and therapies related to regenerative medicine.
Details of the relevant terms related to the project “Assistance for Leading Businesses in the Special District of Yokohama City for 2016”
Name of project: “Development of Drug Discovery Applications Using Neurons Derived from iPS Cells”
Assistance period: October 2016 ~ March 2017
Estimated assistance amount: About 23,998,000 JPY (our company will initially receive the entire lump sum, and then distribute portions to Keio University and Juntendo University)