Predict your next investment

Corporate Venture
taihoventures.com

See what CB Insights has to offer

Investments

25

Portfolio Exits

5

Funds

1

Partners & Customers

1

About Taiho Ventures

Taiho Ventures is the strategic corporate venture capital arm of Taiho Pharmaceutical Co., a Japanese specialty pharma focusing on oncology, allergy and immunology, and urology. Taiho Ventures is a newly established strategic investor looking at early-stage preclinical oncology companies as well as platform technology companies for our core therapeutic areas. Taiho Ventures will review the wide variety of modalities for both biologics and small molecules mainly in US and European countries. The company will also consider the option-type of investments and spin-outs, in addition to the pure equity investments.

Taiho Ventures Headquarters Location

2420 Sand Hill Road Suite 203

Menlo Park, California, 94025,

United States

Predict your next investment

The CB Insights tech market intelligence platform analyzes millions of data points on venture capital, startups, patents , partnerships and news mentions to help you see tomorrow's opportunities, today.

Latest Taiho Ventures News

Cullinan Oncology : UNAUDITED PRO FORMA FINANCIAL INFORMATION - Form 8-K

Jun 28, 2022

04:17p 06/27/2022 | 05:25pm EDT Message : UNAUDITED PRO FORMA FINANCIAL INFORMATION On June 21, 2022, Cullinan Oncology, Inc. ("Cullinan") completed the previously announced sale of its equity interests in Cullinan Pearl Corp. ("Cullinan Pearl") to Taiho Pharmaceutical Co., Ltd. ("Taiho Pharma") pursuant to the terms of a Share Purchase Agreement dated May 11, 2022 (the "Purchase Agreement") and the simultaneous signing of a U.S. Co-Development Agreement (the "Co-Development Agreement") with Taiho Oncology, Inc. ("Taiho Oncology"), an affiliate of Taiho Pharma, related to the co-development of CLN-081. Cullinan received a $275.0 million upfront payment for the transaction, subject to customary purchase price adjustments, and is eligible for an additional $130.0 million tied to epidermal growth factor receptor ("EGFR") exon20 non-small cell lung cancer ("NSCLC") regulatory milestones, in addition to sharing equally in the future potential U.S. profits and losses for CLN-081. The following unaudited pro forma consolidated financial statements are intended to show how the combined transactions might have affected the historical financial statements of Cullinan if the transactions had been completed at an earlier time as indicated therein, and such unaudited pro forma consolidated financial statements are derived from, and should be read in conjunction with, Cullinan's historical financial statements and notes thereto, as presented in its Quarterly Report on Form 10-Q and Annual Report on Form 10-K for the three months ended and the year ended March 31, 2022 and December 31, 2021, respectively. The unaudited pro forma consolidated financial information has been prepared in accordance with Article 11 of Regulation S-X, as amended. The unaudited pro forma consolidated balance sheet as of March 31, 2022, assumes the transactions had occurred on March 31, 2022. The unaudited pro forma consolidated statements of operations for the three months ended March 31, 2022, and the year ended December 31, 2021, give effect to the transactions as if they had occurred as of January 1, 2021. The transaction accounting adjustments to reflect the sale of the Cullinan Pearl business in the unaudited pro forma consolidated financial statements include: • the sale of the shares and the derecognition of assets and liabilities of the Cullinan Pearl business pursuant to the Purchase Agreement; • adjustments required to record the estimated impact of the cash proceeds received in connection with the transactions; and • adjustments required to record the estimated impact of co-developingCLN-081 with Taiho Oncology. The contingent consideration of $130.0 million related to meeting the EGFR exon20 NSCLC regulatory milestones will be recorded at the time, if and when the milestones are achieved and as such, are not reflected as transaction consideration as such milestones have not been achieved as of the date of close. The unaudited pro forma consolidated financial statement information is presented for informational purposes only and is based upon estimates by Cullinan's management, which are based upon available information and certain assumptions that Cullinan management believes are reasonable as of the date of this filing. Actual amounts could differ materially from these estimates. Pro forma adjustments included in the unaudited pro forma consolidated financial statements are limited to those that are (i) directly attributable to the sale, (ii) factually supportable, and (iii) with respect to the statements of operations, expected to have a continuing impact on the results of Cullinan. The unaudited pro forma consolidated financial statements are not intended to be indicative of the actual financial position or results of operations that would have been achieved had the transactions been consummated as of the periods indicated above, nor does it purport to indicate results which may be attained in the future. For example, these financial statements do not reflect any potential earnings or other impacts from the use of the proceeds from the sale or any synergies and dis-synergies that could result from the sale. The unaudited pro forma consolidated balance sheet as of March 31, 2022, and the unaudited pro forma consolidated statement of operations for the three months ended March 31, 2022, and the year ended December 31, 2021, should be read in conjunction with the notes thereto. 1 (Unaudited) On June 21, 2022, Cullinan simultaneously completed its sale of Cullinan Pearl and entered into the Co-Development Agreement. Cullinan received $275.0 million upfront, subject to customary purchase adjustments, and is eligible for an additional $130.0 million tied to EGFR exon20 NSCLC regulatory milestones, in addition to sharing equally in the future potential U.S. profits and losses for CLN-081. The unaudited pro forma consolidated financial statements reflect the following notes and adjustments: (A) Reflects the historical consolidated balance sheet as of March 31, 2022, and consolidated statements of operations for the three months ended March 31, 2022 and for the year ended December 31, 2021. (B) Reflects the elimination of the historical assets, liabilities and results of operations of Cullinan Pearl from Cullinan's historical consolidated financial statements. (C) Reflects the additional transaction accounting adjustments, including the impact of the Co-Development Agreement, to present how the sale of Cullinan Pearl might have affected Cullinan's historical financial statements if the sale had been completed at an earlier time. (i) To record the total transaction consideration, including the base consideration of $275.0 million, plus estimated cash available on Cullinan Pearl as of the closing date and less the re-payment of Cullinan Pearl's outstanding indebtedness, which includes intercompany indebtedness. (ii) Reflects reduction in existing deferred tax assets for use of net operating loss carry forward and accrual of current tax payable due to the recognition of Cullinan's income tax liability based on the estimated taxable gain on the disposition of Cullinan Pearl. (iii) Reflects the net change to retained earnings as a result of the recognition of the total cash receipts from the transaction, net of the tax effect. (iv) To record noncontrolling interests in Cullinan Pearl of Taiho Ventures, LLC ("Taiho Ventures"), an affiliate of Taiho Pharma. As of March 31, 2022, Taiho Ventures had a zero basis in Cullinan Pearl based on the hypothetical liquidation book value method. (v) To record Cullinan's share of 50% of the research and development costs related to CLN-081, pursuant the Co-Development Agreement, for the three months ended March 31, 2022, and the twelve months ended December 31, 2021. (vi) To record the general and administrative costs related to CLN-081 for the three months ended March 31, 2022, and the twelve months ended December 31, 2021. General and administrative costs are not shared between Cullinan and Taiho and as such, any amounts incurred will be retained by Cullinan. (vii) Reflects the reversal of the income tax benefit recorded in the historical financial statements for the quarter ended March 31, 2022 relating to recognition of existing deferred tax assets for use of net operating loss carry forward and current year operating losses, based on the estimated taxable gain on the disposition of Cullinan Pearl. (viii) Reflects the allocation of Cullinan Pearl's losses as it relates to Taiho Ventures' noncontrolling interests for the three months ended March 31, 2022, and the twelve months ended December 31, 2021. 4

Taiho Ventures Investments

25 Investments

Taiho Ventures has made 25 investments. Their latest investment was in Transition Bio as part of their Series A on April 4, 2022.

CBI Logo

Taiho Ventures Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

4/8/2022

Series A

Transition Bio

$50M

Yes

2

3/29/2022

Series B

Dren Bio

$65M

No

1

11/3/2021

Series A

Parthenon Therapeutics

$65M

Yes

9

8/5/2021

Series A - II

Subscribe to see more

$99M

Subscribe to see more

10

7/8/2021

Series A - II

Subscribe to see more

Subscribe to see more

10

Date

4/8/2022

3/29/2022

11/3/2021

8/5/2021

7/8/2021

Round

Series A

Series B

Series A

Series A - II

Series A - II

Company

Transition Bio

Dren Bio

Parthenon Therapeutics

Subscribe to see more

Subscribe to see more

Amount

$50M

$65M

$65M

$99M

New?

Yes

No

Yes

Subscribe to see more

Subscribe to see more

Co-Investors

Sources

2

1

9

10

10

Taiho Ventures Portfolio Exits

5 Portfolio Exits

Taiho Ventures has 5 portfolio exits. Their latest portfolio exit was Werewolf Therapeutics on April 30, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

4/30/2021

IPO

$99M

Public

5

4/24/2020

IPO

Subscribe to see more

$99M

Subscribe to see more

10

5/9/2019

IPO

Subscribe to see more

$99M

Subscribe to see more

10

2/8/2019

IPO

Subscribe to see more

$99M

Subscribe to see more

10

3/15/2018

IPO

Subscribe to see more

$99M

Subscribe to see more

10

Date

4/30/2021

4/24/2020

5/9/2019

2/8/2019

3/15/2018

Exit

IPO

IPO

IPO

IPO

IPO

Companies

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

Public

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Sources

5

10

10

10

10

Taiho Ventures Fund History

1 Fund History

Taiho Ventures has 1 fund, including Taiho Ventures I.

Closing Date

Fund

Fund Type

Status

Amount

Sources

10/17/2018

Taiho Ventures I

$300M

4

Closing Date

10/17/2018

Fund

Taiho Ventures I

Fund Type

Status

Amount

$300M

Sources

4

Taiho Ventures Partners & Customers

1 Partners and customers

Taiho Ventures has 1 strategic partners and customers. Taiho Ventures recently partnered with Arcus Biosciences on September 9, 2017.

Date

Type

Business Partner

Country

News Snippet

Sources

9/20/2017

Partner

United States

Arcus Biosciences Announces Option and License Agreement with Taiho Pharmaceutical Co. Ltd.

HAYWARD , Calif. -- -- Arcus Biosciences , a US-based biotechnology company focused on the discovery and development of innovative cancer immunotherapies , announced today that it has entered into an option and license agreement with Taiho Pharmaceutical , for the potential development and commercialization of product candidates in Arcus Biosciences 's portfolio in Japan and certain other territories in Asia .

2

Date

9/20/2017

Type

Partner

Business Partner

Country

United States

News Snippet

Arcus Biosciences Announces Option and License Agreement with Taiho Pharmaceutical Co. Ltd.

HAYWARD , Calif. -- -- Arcus Biosciences , a US-based biotechnology company focused on the discovery and development of innovative cancer immunotherapies , announced today that it has entered into an option and license agreement with Taiho Pharmaceutical , for the potential development and commercialization of product candidates in Arcus Biosciences 's portfolio in Japan and certain other territories in Asia .

Sources

2

Taiho Ventures Team

1 Team Member

Taiho Ventures has 1 team member, including current Chief Executive Officer, President, Sakae Asanuma.

Name

Work History

Title

Status

Sakae Asanuma

Astellas Pharma, and Meiji Yasuda Life Insurance Company

Chief Executive Officer, President

Current

Name

Sakae Asanuma

Work History

Astellas Pharma, and Meiji Yasuda Life Insurance Company

Title

Chief Executive Officer, President

Status

Current

Discover the right solution for your team

The CB Insights tech market intelligence platform analyzes millions of data points on vendors, products, partnerships, and patents to help your team find their next technology solution.

Request a demo

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.