Japanese companies Chugai Pharmaceutical and Preferred Networks (PFN) announced that they have entered into a comprehensive partnership agreement aiming to create new values in innovative drugs and services.
Under the corporate slogan, “INNOVATION BEYOND IMAGINATION,” Chugai strives to contribute to global healthcare through innovation. As the rapid progress of Internet of Things (IoT) and Artificial Intelligence (AI) has greatly changed the society, unprecedented innovation possibilities have expanded also in life sciences with integration of these technologies and existing ones. Following this trend, we decided to build a comprehensive partnership with PFN, a global leading company of AI technology known for “Chainer™,” a deep learning framework, seeking to create new values by applying cutting-edge data analysis technologies, as well as expertise, technologies and data accumulated by Chugai.
In this partnership, Chugai will select projects to which the cutting-edge data analysis technologies offered by PFN are applicable from our business activities which places “Technology-driven drug discovery” as a core element, and pursue for results in several collaborative projects. In addition to projects which aim to solve existing challenges, the partnership is designed to accommodate more exploratory initiatives as well. With this framework, the potential of innovations will be broadly discussed so as to bring about new values including innovative drugs and solutions for various medical need. Furthermore, Chugai will make an investment of about 7 hundred million yen (approximately $6300,000) as a subscription of third-party allocation of shares of PFN along with the comprehensive partnership agreement.
PFN promotes advanced initiatives in cooperation with leading companies and organizations of each industry, focusing on industrial utilization of the deep learning technology. This comprehensive partnership allows PFN to further broad activities in the biotechnology and healthcare area which is positioned as its priority area.