Tokyo, Japan – 2 May 2013: Sosei Group Corporation (“Sosei”; TSE Mothers Index: 4565), announces that its wholly owned subsidiary Activus Pharma Co., Ltd. (“Activus”) is to receive a grant for its “Development of Nanotechnology- based Innovative Ophthalmic Solutions” from the New Energy and Industrial Technology Development Organization (NEDO), an incorporated administrative agency under the Ministry of Economy, Trade and Industry (METI) as a part of their FY2012 (extra budget) Innovation Promotion Programme.
The grant is awarded to R&D venture companies with advanced cutting-edge or promising unexplored technologies. It is intended to mitigate R&D risk and accelerate development process, which would result in faster practical application and commercialisation and eventually enhance development of new businesses and employment.
Using Activus Pure Nano-particle Technology (APNT), Activus is focusing on development of high value-added products that would solve the problems existing formulations are facing. To explore the potential of APNT in treatment of ophthalmic diseases, Activus has been working on the development of novel posterior eye segment medication. This time, however, the grant will be allocated to development of ophthalmic solution for anterior eye diseases, such as infectious cornea inflammation caused by bacteria and viruses, infectious conjunctivitis, etc.
Up to two thirds of the development costs incurred for this project between 30 April 2013 and 26 February 2014 (maximum of 84,062,000 yen) will be subsidised by the grant from NEDO.