Michael Barbella, Managing Editor02.28.23
TANAKA Kikinzoku Kogyo K.K., which operates the TANAKA Precious Metals manufacturing business, has made an equity contribution to the medical venture capital fund Diamond Medino Capital (DMC) No. 1 Investment Limited Partnership founded in Japan by Professor Terumitsu Hasebe. This is Japan's first medical venture capital fund established with an active medical professor serving as its representative. Through this equity contribution, TANAKA Kikinzoku Kogyo will contribute toward technological development in Japan's domestic medical and healthcare industry.
Background and Objectives
TANAKA Kikinzoku Kogyo is undertaking this equity contribution as the company supports the fund's goal of establishing a Japanese medical venture ecosystem. TANAKA has previously worked with Hasebe on national projects (under the Japan Agency for Medical Research and Development) for the joint development of advanced medical technologies, such as metal coils for embolization and long patency stent systems. The company is participating in this fund as the anchor limited partner to pursue the potential of precious metals—from a comprehensive perspective—and contribute to Japanese society.
Currently in Japan, companies continue to face difficulties with rapid and sophisticated R&D due to funding procurement, a sense of urgency, and human resources shortages. In addition, there are cases where academic research groups with excellent technologies do not reach commercialization. This fund will support Japan's new and current medical ventures by helping with human resources, capital, management, pharmaceutical, patent, exit, and other strategies. In this way, the fund will contribute to the well-being of patients by giving birth to venture companies with excellent academic technologies in the medical field, achieving early practical application of those technologies, and providing new medical equipment, pharmaceuticals, and medical-related services to medical frontlines. Furthermore, the fund seeks to realize a true ecosystem that uses the knowledge gained and human resources developed to take on challenges in new projects and research themes, as well as support future entrepreneurs.
"TANAKA Precious Metals is always seeking to contribute to the creation of a prosperous society as well as to the future of the planet through sustainable use of precious metals as a company in the field of precious metals," said Hasebe, representative of Diamond Medino Capital Co. Ltd., the fund manager. "TANAKA deeply empathizes with our fund's principle of establishing a true ecosystem that helps achieve the early practical application of Japan's core medical-related technologies and conveys them to the world, and I am very happy to be able to journey into the future together. In the past, I have built a relationship of cooperation with TANAKA in the application of high-value-added precious metals in medical devices, and I hope to demonstrate significant synergy through new challenges."
Additionally, the fund supports its investments by understanding the needs at the front lines of medicine, knowledge about the latest technological trends, and the responses of Japan's and America's governments toward practical application.
Through equity contribution to this fund, TANAKA Kikinzoku Kogyo also expects to strengthen relationships with Japan's medical ventures and expand future medical businesses, such as the development of new products and technologies, in the healthcare industry. The company will work to establish a medical venture ecosystem in Japan through this equity contribution.
Traditionally, an ecosystem refers to a state in which living things survive through a cycle of interdependence. Modeled after such a system, in a medical venture ecosystem, companies and funds come together to support medical ventures with technological capabilities and future potential to build a sustainable cycle of new technology and product development in Japan while inheriting expertise gained through the development of new technologies. This fund is the first in Japan to be led by active parties in the field of medicine and aims to establish a medical venture ecosystem originating from Japan by supporting medical ventures.
Hasebe, a medical doctor, earned a Ph.D. in medicine and a Ph.D. in engineering, both from Keio University. He is a professor, Faculty of Medicine, School of Medicine, at Tokai University; a visiting professor at Keio University's School of Medicine; a visiting professor at Massachusetts Institute of Technology (MIT)/Harvard Medical School; and the AMED BRIDGE project leader (Seeds F). Hasebe established the Hasebe Research Group, which combines medical science and engineering within Keio University's Faculty of Science and Technology. After obtaining his doctorate in engineering while he was a medical doctor, Hasebe undertook the development of medical devices with various global manufacturers. An example of one of his developments is the launch of the cerebral thrombosis stent retriever (Biomedical Solutions Inc.); he was in charge of the preclinical study for a 2019 patent application. He launched this venture capital fund during the COVID-19 pandemic in an effort to bring innovative academic technologies from Japan to the world. He has received more than 30 academic awards in Japan and overseas, and is also a researcher and venture capitalist.
Overview of DMC No. 1 Investment Limited Partnership
The DMC No. 1 Investment Limited Partnership was established in November 2022. The medical venture capital fund specializes in medical device and pharmaceutical development businesses, carrying out hands-on investments in venture companies from the seeding phase of R&D to the patent approval phase. It was launched to establish a medical venture ecosystem in Japan by providing research and development environments on par with those overseas and supporting Japan's medical ventures.
Since its foundation in 1885, TANAKA Precious Metals has built a portfolio of products to support a diversified range of business uses focused on precious metals. TANAKA is a leader in Japan in the volumes of precious metals handled. The company has not only manufactured and sold precious metal products for industry but also provided precious metals in such forms as jewelry and assets. As precious metals specialists, all Group companies in Japan and around the world collaborate and cooperate on manufacturing, sales, and technology development to offer a full range of products and services. With 5,225 employees, the Group's consolidated net sales for the fiscal year ending March 31, 2022, were 787.7 billion yen.*
* From the current consolidated fiscal year, the amounts of sales for some transactions are indicated as net values due to the application of the Accounting Standard for Revenue Recognition.
Background and Objectives
TANAKA Kikinzoku Kogyo is undertaking this equity contribution as the company supports the fund's goal of establishing a Japanese medical venture ecosystem. TANAKA has previously worked with Hasebe on national projects (under the Japan Agency for Medical Research and Development) for the joint development of advanced medical technologies, such as metal coils for embolization and long patency stent systems. The company is participating in this fund as the anchor limited partner to pursue the potential of precious metals—from a comprehensive perspective—and contribute to Japanese society.
Currently in Japan, companies continue to face difficulties with rapid and sophisticated R&D due to funding procurement, a sense of urgency, and human resources shortages. In addition, there are cases where academic research groups with excellent technologies do not reach commercialization. This fund will support Japan's new and current medical ventures by helping with human resources, capital, management, pharmaceutical, patent, exit, and other strategies. In this way, the fund will contribute to the well-being of patients by giving birth to venture companies with excellent academic technologies in the medical field, achieving early practical application of those technologies, and providing new medical equipment, pharmaceuticals, and medical-related services to medical frontlines. Furthermore, the fund seeks to realize a true ecosystem that uses the knowledge gained and human resources developed to take on challenges in new projects and research themes, as well as support future entrepreneurs.
"TANAKA Precious Metals is always seeking to contribute to the creation of a prosperous society as well as to the future of the planet through sustainable use of precious metals as a company in the field of precious metals," said Hasebe, representative of Diamond Medino Capital Co. Ltd., the fund manager. "TANAKA deeply empathizes with our fund's principle of establishing a true ecosystem that helps achieve the early practical application of Japan's core medical-related technologies and conveys them to the world, and I am very happy to be able to journey into the future together. In the past, I have built a relationship of cooperation with TANAKA in the application of high-value-added precious metals in medical devices, and I hope to demonstrate significant synergy through new challenges."
Additionally, the fund supports its investments by understanding the needs at the front lines of medicine, knowledge about the latest technological trends, and the responses of Japan's and America's governments toward practical application.
Through equity contribution to this fund, TANAKA Kikinzoku Kogyo also expects to strengthen relationships with Japan's medical ventures and expand future medical businesses, such as the development of new products and technologies, in the healthcare industry. The company will work to establish a medical venture ecosystem in Japan through this equity contribution.
Traditionally, an ecosystem refers to a state in which living things survive through a cycle of interdependence. Modeled after such a system, in a medical venture ecosystem, companies and funds come together to support medical ventures with technological capabilities and future potential to build a sustainable cycle of new technology and product development in Japan while inheriting expertise gained through the development of new technologies. This fund is the first in Japan to be led by active parties in the field of medicine and aims to establish a medical venture ecosystem originating from Japan by supporting medical ventures.
Hasebe, a medical doctor, earned a Ph.D. in medicine and a Ph.D. in engineering, both from Keio University. He is a professor, Faculty of Medicine, School of Medicine, at Tokai University; a visiting professor at Keio University's School of Medicine; a visiting professor at Massachusetts Institute of Technology (MIT)/Harvard Medical School; and the AMED BRIDGE project leader (Seeds F). Hasebe established the Hasebe Research Group, which combines medical science and engineering within Keio University's Faculty of Science and Technology. After obtaining his doctorate in engineering while he was a medical doctor, Hasebe undertook the development of medical devices with various global manufacturers. An example of one of his developments is the launch of the cerebral thrombosis stent retriever (Biomedical Solutions Inc.); he was in charge of the preclinical study for a 2019 patent application. He launched this venture capital fund during the COVID-19 pandemic in an effort to bring innovative academic technologies from Japan to the world. He has received more than 30 academic awards in Japan and overseas, and is also a researcher and venture capitalist.
Overview of DMC No. 1 Investment Limited Partnership
The DMC No. 1 Investment Limited Partnership was established in November 2022. The medical venture capital fund specializes in medical device and pharmaceutical development businesses, carrying out hands-on investments in venture companies from the seeding phase of R&D to the patent approval phase. It was launched to establish a medical venture ecosystem in Japan by providing research and development environments on par with those overseas and supporting Japan's medical ventures.
Since its foundation in 1885, TANAKA Precious Metals has built a portfolio of products to support a diversified range of business uses focused on precious metals. TANAKA is a leader in Japan in the volumes of precious metals handled. The company has not only manufactured and sold precious metal products for industry but also provided precious metals in such forms as jewelry and assets. As precious metals specialists, all Group companies in Japan and around the world collaborate and cooperate on manufacturing, sales, and technology development to offer a full range of products and services. With 5,225 employees, the Group's consolidated net sales for the fiscal year ending March 31, 2022, were 787.7 billion yen.*
* From the current consolidated fiscal year, the amounts of sales for some transactions are indicated as net values due to the application of the Accounting Standard for Revenue Recognition.