Sumitomo Dainippon Pharma Becomes a Global Partner to Plug and Play's Innovation Platform

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Dec 03, 2019, 01:00 ET

KYOTO, Japan, Dec. 3, 2019 /PRNewswire/ -- Plug and Play Japan KK (Based in Shibuya, Tokyo, CEO: Philip Vincent, hereinafter Plug and Play Japan) announces their partnership with Sumitomo Dainippon Pharma Co., Ltd. (Based in Osaka, President: Hiroshi Nomura hereinafter Sumitomo Dainippon Pharma) as an "ecosystem partner" in their Hardtech & Health programs in Kyoto. In addition, Sumitomo Dainippon Pharma has partnered with Plug and Play's Health program in Silicon Valley.

Sumitomo Dainippon Pharma established a Frontier Business Office in 2019, anticipating that society's medical needs will be met not only by pharmaceutical products, but also by new technological solutions. Sumitomo Dainippon Pharma has signed a partnership with Plug and Play Japan to build a business plan centered on areas where synergies with pharmaceutical business are expected. Utilizing the open innovation approach with startups, Sumitomo Dainippon Pharma will also focus on the treatment, prevention of diseases, and the care of patients. Sumitomo Dainippon Pharma will provide solutions for the problems society faces today.

"With a focus on the three research areas of Psychiatry & Neurology, Oncology, and Regenerative Medicine / Cell Therapy, Sumitomo Dainippon Pharma will launch 'Frontier Business,' which includes additional healthcare solutions and pharmaceuticals. By participating in the Hardtech & Health program provided by Plug and Play Kyoto, we will accelerate the adoption of innovative technologies through efficient encounters with leading startups in Japan as well as overseas," commented Takehiko Nomura, Senior Director, Frontier Business Office, Sumitomo Dainippon Pharma Co., Ltd.

About Plug and Play Japan Program
Plug and Play Japan supported 69 domestic and international startups in five different fields (IoT, Fintech, Insurtech, Mobility, Brand & Retail) during their Summer and Fall batches in 2019. At their Summit held at the Toranomon Hills Forum on September 18 and 19, 61 selected startups shared their experiences from the program. 2,004 attendees were present at the two day event. The next program is scheduled from December 2019 to March 2020. In addition to the five verticals in Tokyo, the Hardtech & Health program will launch in Kyoto.

About Plug and Play
Plug and Play supported more than 560 startups in its US Headquarters and 1,100+ startups around the world with 222 investments made through its acceleration programs in 2018. It currently has 750 active portfolio companies including Guardant Health, Honey, Soundhound, Zoosk, and more. Successful portfolio exits include Dropbox ($11 billion valuation at IPO), PayPal (acquired by Ebay), Vudu (acquired by Walmart), Danger and Powerset (acquired by Microsoft), Lending Club ($9 billion valuation at IPO), and the most recently Guardant Health ($1.6 billion valuation at IPO).

Corporate overview
Name	Plug and Play Japan KK
Address	〒150-0043 Shibuya Dogenzaka Tokyu building 1F, 1-8-10, Dogenzaka, Shibuya-ku, Tokyo
Representative	Phillip Vicent
URL	http://japan.plugandplaytechcenter.com/
Establishment	July 14th, 2017