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| December 10, 2001 |
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| New Company to Explore Genome-Based Drugs |
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| Mitsubishi Chemical Corporation |
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(Tokyo) - Mitsubishi Chemical Corporation (Headquarters: Chiyoda-ku, Tokyo; President:
Kanji Shono) announced today that it would launch a new company in January 2002
to develop and license genomic-based drug discovery fruits. Genomic-based drug
development is based on recent achievements in genomic sciences, and is expected
to greatly enhance the efficacy of clinical treatments for many diseases.
The field of genomics has advanced quickly since the map of the human genome was
first announced in February 2001. As a result of human gene information now being
widely available to the scientific community, including new data and analysis
of the structure and functions of human genes and proteins, the field of genomic-based
drug discovery has also advanced rapidly. It is one of the core fields of research
that has been undertaken since the human genome was coded.
A number of Mitsubishi Chemical Group entities are dedicated to research and development
in the life sciences, including conducting basic research, pre-clinical and clinical
trials, as well as developing new pharmaceuticals and diagnostic equipment. Group
companies active in these areas include Mitsubishi Kagaku Institute of Life Sciences,
Japan's leading institution in the field of basic research in life sciences, in
addition to Mitsubishi Pharma, Mitsubishi Kagaku Bio-Clinical Laboratories, Mitsubishi
Kagaku Medical, and the Mitsubishi Chemical Safety Institute.
Based on the vast experience of Mitsubishi Chemical Group companies in the areas
of basic research, intellectual property, biotechnology and life sciences, the
new company is considered very favorably positioned to develop and license new
drug discoveries.
By developing the business of the new company, Mitsubishi Chemical Group plans
to establish a strong position in the field of genomic-based drug discovery and,
at the same time, contribute to an overall improvement in quality of life by providing
fruits for the discovery of new drugs that will lead to improved clinical treatments
for a large number of human diseases.
The new company will cooperate with Fujitsu Limited (Headquarters: Chiyoda-ku,
Tokyo; President: Naoyuki Akikusa) to reinforce the bioinformatics necessary for
the analysis of genes and proteins.
| Overview of the new company |
| Name |
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ZoeGene Corporation |
| Headquarters |
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Mitsubishi Chemical Science and Technology Research Center,
Yokohama, Kanagawa Prefecture |
| President |
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Kiyoshi Nakayama |
| Capital paid in |
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Yen 1 billion (capital and capital reserve)
* to be increased to Yen 2.5 billion by March,2002
* wholly-owned by Mitsubishi Chemical |
| Workforce |
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Approximately 40 employees (to be increased to 100 by fiscal
2007) |
| Interests |
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Analysis of solid structures and functions of proteins |
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Search of candidate compounds for new drugs |
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License of achievement by the above operation |
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| Expected Sales |
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Yen 13.5 billion (projected for fiscal 2007) |
| For further information, please contact |
| Public Relations Department, |
| Mitsubishi Chemical Corporation |
| Tel: [+81] 3-3283-6254 |
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