TOKYO, August 22, 2011 /PRNewswire/ --
Sosei Group Corporation ("Sosei"; TSE Mothers Index: 4565), announces that its wholly owned subsidiary Activus Pharma Co., Ltd. ("Activus") is to receive a grant for its "Development of Innovative Ophthalmic Solutions" from the New Energy and Industrial Technology Development Organization (NEDO), an Incorporated Administrative Agency under the Ministry of Economy, Trade and Industry (METI) as a part of their FY2011 Innovation Promotion Programme.
The grant is awarded to private sector companies that focus on development of advanced technologies with practical application, and is intended to enhance the global competitiveness of Japanese companies, as well as to promote development of new industries.
Using Activus Pure Nano-particle Technology (APNT) and surface-modified nanoparticle technology, Activus is focusing on development of high value-added products that would solve the problems existing formulations are facing. To explore the potential of APNT in treatment of ophthalmic diseases, Activus has signed a collaboration agreement with Professor Hifofumi Takeuchi (Pharmaceutical Engineering Laboratory) and Professor Hideaki Hara (Laboratory of Molecular Pharmacology) of Gifu Pharmaceutical University and is now working on the development of novel posterior eye segment medication. Posterior eye segment disease such as diabetic retinopathy and age-related maculopathy is the primary cause of blindness and other visual impairments in middle age. An effective and easy-to-use medication has still not been invented, and the development of an innovative treatment is anticipated.
Within this subsidized project, Activus will be working on the development of novel ophthalmic solutions that would differ from the existing treatments because they would be delivered to the posterior eye segment. In that way, Activus would contribute to the QOL improvement in patients with visual impairments.
Up to two thirds of the development costs incurred for this project between 23 August 2011 and 28 February 2013 will be subsidized by the grant from NEDO.
Notes for Editors:
Sosei is an international biopharmaceutical company anchored in Japan with a global reach. It practises a reduced risk business model by acquiring compounds from, and bringing compounds into, Japan through exploitation of its unique position within global markets.
For further information about Sosei, please visit http://www.sosei.com.
New Energy and Industrial Technology Development Organization (NEDO) was established in October 1980 and is an Incorporated Administrative Agency under the Ministry of Economy, Trade and Industry (METI) that actively undertakes the development of new energy and energy-conservation technologies, verification of technical results, and introduction/dissemination of new technologies (e.g., support for introduction). Through these efforts, NEDO promotes greater utilization of new energy and improved energy conservation.
NEDO also pursues research and development of industrial technology, which is the foundation for Japan's industrial competitiveness, with the goal of commercialization of advanced new technology. Drawing on the combined efforts of industry, academia and government as well as its sophisticated management know-how, NEDO carries out projects to explore future technology seeds as well as mid- to long-term national projects that form the basis of industrial competitiveness. It also supports research related to practical application.
This press release contains "forward-looking statements", including statements about the discovery, development and commercialisation of products. Various risks may cause Sosei's actual results to differ materially from those expressed or implied by the forward-looking statements, including adverse results in clinical development programmes; failure to obtain patent protection for inventions; commercial limitations imposed by patents owned or controlled by third parties; dependence upon strategic alliance partners to develop and commercialise products and services; difficulties or delays in obtaining regulatory approvals to market products and services resulting from development efforts; the requirement for substantial funding to conduct research and development and to expand commercialisation activities; and product initiatives by competitors. As a result of these factors, prospective investors are cautioned not to rely on any forward-looking statements. We disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Sosei Group Corporation