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| February 6, 2007 |
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| Reorganization of ZOEGENE Corporation |
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Mitsubishi Chemical Holdings Corporation
Mitsubishi Chemical Corporation
ZOEGENE Corporation |
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ZOEGENE Corporation (Head office: Aoba-ku, Yokohama; President: Masayuki Mitsuka; hereinafter referred to as “ZOE”), affiliated with the Health Care Segment of Mitsubishi Chemical Holdings Corporation (Head office: Minato-ku, Tokyo; President: Ryuichi Tomizawa; hereinafter referred to as “MCHC”, and together with MCHC, including all other subsidiaries and affiliates, collectively referred to as “MCHC Group”) will realign its organization on April 1, 2007 with the aim of strengthening MCHC's healthcare business. The details are as follows:
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1. |
Reorganization |
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(1) |
ZOE's protein engineering function, will be integrated with MCHC's bio-analytical functions, and will specialize in finding biomarkers that will contribute toward the realization of so-called “personalized medicine.” The company's name will be changed to Molecuence Corporation as of April 1. |
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(2) |
ZOE's drug discovery and chemical synthesis business will be transferred to Mitsubishi Pharma Corporation (Head office: Chuo-ku, Osaka; President: Takeshi Komine; hereinafter referred to as “MPC”) in order to enhance MPC's drug discovery capabilities. |
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(3) |
ZOE's protein structure analysis business will be transferred to Mitsubishi Chemical Group Science and Technology Research Center, Inc. (hereinafter referred to as “MCRC”) in order to contribute to the improvement of MPC and the MCHC Group drug discovery activities. |
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Background and Objectives |
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(1) |
Research function for personalized medicine
MCHC has recognized that the realization of “personalized medicine” should be a driving force in its healthcare business strategy due to the environment of increasing demand in society for better treatment options. By integrating ZOE’s protein engineering technologies and sophisticated biotechnologies in the MCHC Group, ZOE will contribute to and accelerate reaching the goal of “personalized medicine”. In addition, ZOE will continue to research the identification biomarkers for use in clinical research and diagnostics. Additional focus will be in the cardiovascular area, which is one of MPC's core therapeutic areas. |
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(2) |
Research function of drug discovery
In addition to its protein engineering technology and bio-analysis techniques, ZOE has been highly regarded by academia as well as pharmaceutical companies in Japan and abroad in the field of protein structure analysis by X-ray or NMR. ZOE has had success in its collaboration with other pharmaceutical companies in establishing methods of drug design and chemical synthesis using protein structure information leveraged through its relationship with the Fujitsu Joint Project as well as its access to IT and chemical synthesis technologies at MCHC.
These days, for productive and high quality drug discovery, the protein structure-based approach has become more important. With the recognition of this situation, it was decided to transfer such research-related functions of drug design, chemical synthesis, and protein structure analysis to MPC and MCRC, respectively, in order to maximize MPC and MCRC's research and development capabilities as of April 1.
These operations are expected to contribute mainly to drug discovery activities at MPC and will solidify MPC as one of the world's leaders in bio-analysis methodology. |
Outline of the new company
| 1) |
Company name: |
Molecuence Corporation |
| 2) |
Capital: |
¥1.5 billion |
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Shareholder: |
Mitsubishi Chemical Corporation 100% |
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Representative Director,
Member of the Board,
President: |
Kuniaki Kaga
(continues serving as Executive Officer and General Manager of the Health Care Strategy Office of MCHC) |
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Head office: |
Kamoshida, Aoba-ku, Yokohama-shi, Kanagawa, Japan |
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Employees: |
Approximately 20 |
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Line of business: |
Biomarker research |
| For further information, please contact |
| ZOEGENE Corporation |
| Tel: [+81]-(0)45-963-4510 |
Public Relations and Investor Relations Dept.
Mitsubishi Chemical Corporation |
| Tel: [+81]-(0)3-6414-3730 |
Public Relations and Investor Relations Office
Mitsubishi Chemical Holdings Corporation |
| Tel: [+81]-(0)3-6414-4870 |
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