Toward Building an Ecosystem to Enhance Japan’s Drug Discovery Capabilities
July 1, 2022
Japan Pharmaceutical Manufacturers Association
Chairman Yasufumi Okada
Today, the seeds of innovative new drugs are being generated by academia and startups. For Japan to remain a leading nation in new drug development, it is imperative to build an ecosystem that promotes organic collaboration among various players, including startups.
In its “Basic Policy on Economic and Fiscal Management and Reform 2022,” the government stated its intention to enhance scientific and technological capabilities by strengthening drug discovery capabilities. Furthermore, in the “Grand Design and Action Plan for a New Capitalism,” it explicitly stated that it would advance initiatives to position drug discovery as a growth industry.It has designated “People,” “Science, Technology, and Innovation,” “Startups,” “Green Transformation,” and “Digital Transformation” as priority investment areas. Furthermore, the government has declared this year to be the “First Year of Startup Creation” and pledged to provide robust support for startups, which are key to innovation.
Under the “Strategy for Strengthening Vaccine Development and Production Systems,” which was approved by the Cabinet last year, the Japan Agency for Medical Research and Development (AMED) launched the “Project to Strengthen the Drug Discovery Venture Ecosystem,” and the selection of certified venture capital firms has now been announced.The JPMA welcomes this initiative, as we are confident that it will lead to the creation of many innovative drug discovery seeds through investments and hands-on support provided by certified VCs, as well as through subsidies under this program.Furthermore, we, as pharmaceutical companies, will play a key role in the exit strategy for this initiative by guiding the drug discovery seeds generated by these startups toward commercialization and contributing to the creation of numerous success stories.
JPMA will continue to devote its full efforts to building an ecosystem where industry, academia, and government work together to create healthcare innovations originating in Japan.