This is in addition to the GBP 12m series A financing announced in June 2016.
Taiho Ventures joins the existing blue chip investor syndicate of Merck Ventures, Cambridge Innovation Capital, Pfizer Venture Investments, and Touchstone Innovations with an equal size of investment.
Sakae Asanuma, president of Taiho Ventures, joins Storm Therapeutics' board of directors.
The financing will enable Storm Therapeutics to expand and accelerate its pipeline, pursue emerging therapeutic opportunities, and build a broader drug discovery platform encompassing new drug targets from additional academic collaborators and its scientific founders.
Storm Therapeutics, a University of Cambridge spin-out, is focused on small molecule therapies modulating RNA modifying enzymes, by using RNA epigenetics for the discovery of first-in-class drugs in oncology and other diseases.
The company is developing a unique platform to address these enzyme classes, including RNA methyltransferases. Its laboratories are on the Babraham Research Campus near Cambridge, UK.
Taiho Ventures is the strategic corporate venture capital arm of Taiho Pharmaceutical Co. Ltd., a Japanese specialty pharma focusing on oncology, allergy and immunology, and urology.
The company is looking at early stage preclinical oncology companies as well as platform technology companies for its core therapeutic areas. The company will also consider the option-type of investments and spin-outs, in addition to the pure equity investments.
Taiho Pharmaceutical, a subsidiary of Otsuka Holdings Co., Ltd., is an R and D-driven specialty pharma focusing on the fields of oncology, allergy and immunology, and urology. The company is expanding its global R and D efforts and recently established commercial operations in the US.
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