Toyo Ink Invests in Biotech Company VLP Therapeutics
Japan-based specialty chemicals manufacturer Toyo Ink has signed an agreement to invest in US-based biotech company VLP Therapeutics (VLPT) and its subsidiary company VLP Therapeutics Japan (VLPT Japan). Financial details of the agreement were not revealed.
VLPT was founded in 2013 with the aim of developing innovative vaccine therapies. VLPT Japan is engaged in the research and development of vaccines against novel coronaviruses, such as Covid-19, and other infectious diseases using the company's platform technologies.
Toyo Ink said that through its investment in VLPT and VLPT Japan, it seeks to contribute to further advances in vaccine development and accelerate the clinical trial cycle toward commercialization, as well as explore the possibility of collaboration in the group's biosimilar products activities.
In addition to the direct investment in the firm, the Toyo Ink Group contributes to VLPT’s business operations in the form of R&D personnel support.
“We’re pleased to announce this investment agreement in public health with VLP Therapeutics,” said Satoru Takashima, president and representative director of Toyo Ink. “The Toyo Ink Group entered the pharmaceutical business in 2016 with the launch of patch-type drug delivery devices. Since then, the life sciences has been one of our priority development areas as we focus on expanding our Sciforiem series of bioscience solutions, which includes products like polymers for bioscience applications and fluorescent probe dyes for imaging,” Takashima added.
VLPT Japan is currently setting up a new clinical trial vaccine production facility in Fukuoka prefecture, Kyushu, in southwestern Japan, which is expected to be operational in 2024.
