Taiho Ventures

Taiho Ventures, LLC is the venture capital arm of Taiho Oncology, Inc., established in 2016 and located in Menlo Park, California. The firm focuses on investing in early-stage companies and start-ups, particularly in the fields of oncology, allergy, and urology. Taiho Ventures seeks to support innovative therapeutic products and drug-enabling platform technologies that have the potential to significantly benefit cancer patients. With a global investment approach, the company concentrates its efforts primarily in the United States, Europe, and Japan, aiming to advance the research and development of pharmaceuticals, medical devices, diagnostics, and digital health solutions.

Sakae Asanuma

Founding President and CEO

Takaaki Ishii

Investment Director

Hidefumi Kasua

Associate Investment Director

Seiji Miyahara Ph.D

Partner and Senior Investment Director

36 past transactions

Normunity

Series B in 2025
Normunity is a biotechnology company focused on developing precision immuno-oncology medicines, specifically a new class known as immune normalizers. These medicines aim to target novel mechanisms that enhance the body’s natural immune response against cancer. In collaboration with the lab of Dr. Lieping Chen at Yale School of Medicine, Normunity is researching newly-discovered mechanisms of immune disruption in cancer, utilizing proprietary discovery platforms to explore the intricate interactions between cancer and the immune system. The company is advancing a pipeline of immune normalizers, which includes initial drug programs designed to address the exclusion of T-cells from immune-sensitive tumors and other factors that impede normal immune function in cancer. Normunity operates from locations in Boston, Massachusetts, and West Haven, Connecticut.

Light Horse Therapeutics

Series A in 2025
Light Horse Therapeutics is the gene editing applied to small-molecule drug discovery, pioneering approaches to target the root causes of disabling and life-threatening diseases. Its advanced platform identifies cryptic chemically accessible functional domains within targets that are critical in disease biology. Our initial focus addresses high-value, historically challenging oncology targets with the opportunity to apply the technology to other therapeutic areas in the future.

Halda Therapeutics

Series B in 2024
Halda Therapeutics is a research-stage drug discovery company focused on developing next-generation precision medicines. The company utilizes a novel therapeutic modality aimed at creating treatments that can address various disease states. By modifying disease-causing pathways, Halda Therapeutics seeks to enable healthcare providers to offer tailored therapies to patients, enhancing the effectiveness of treatment based on individual patient needs.

Libero Thera

Venture Round in 2024
LiberoThera provides drug discovery research and development services. It focuses on making drugs with GPCRs for membrane proteins. LiberoThera was founded in 2018 and is located in Tokyo.

Theolytics

Venture Round in 2024
Theolytics Limited is a clinical-stage biotechnology company founded in 2017 and based in Oxford, United Kingdom. The company specializes in developing oncolytic viral therapies to combat cancer, utilizing a phenotypic screening platform that facilitates the discovery and development of effective, targeted treatment candidates. These therapies are designed for intravenous delivery and tailored to specific patient populations, aiming to provide innovative care options. In addition to advancing its internal pipeline of programs that address both solid and liquid tumors, Theolytics is also focused on forming strategic partnerships to enhance and expedite its pipeline development.

Theolytics

Series A in 2023
Theolytics Limited is a clinical-stage biotechnology company founded in 2017 and based in Oxford, United Kingdom. The company specializes in developing oncolytic viral therapies to combat cancer, utilizing a phenotypic screening platform that facilitates the discovery and development of effective, targeted treatment candidates. These therapies are designed for intravenous delivery and tailored to specific patient populations, aiming to provide innovative care options. In addition to advancing its internal pipeline of programs that address both solid and liquid tumors, Theolytics is also focused on forming strategic partnerships to enhance and expedite its pipeline development.

EpiBiologics

Series A in 2023
EpiBiologics focuses on developing antibody-based targeted therapies aimed at membrane and extracellular proteins that contribute to various diseases. The company utilizes its EpiTAC platform to create therapeutics that degrade these disease-driving proteins, addressing the underlying biology of disorders. By specializing in protein degradation, EpiBiologics enables researchers to manipulate cellular proteostasis, offering potential solutions for a wide range of medical conditions.

Anavo Therapeutics

Seed Round in 2023
Anavo Therapeutics is the first company to systematically drug phosphatases, a rich target space previously considered undruggable for decades. We have attracted world-leading scientific expertise in phosphatase-driven disease biology and drug discovery to unlock the full potential of phosphatase-targeted allosteric modulators. In oncology, Anavo is developing multiple first-in-class therapeutic programs and will build on partnerships around its platform to establish a rich pipeline across several indications

Cellvie

Seed Round in 2023
Cellvie specializes in the development of cell-derived medicines that focus on mitochondrial transplantation to address various medical conditions related to mitochondrial dysfunction. Recognizing the critical role of mitochondria in energy production and cellular processes, the company employs proprietary techniques to prepare and deliver viable mitochondria directly into compromised cells. This innovative approach aims to restore energy metabolism in cells affected by conditions such as heart disease, stroke, diabetes, Parkinson's, and Alzheimer's. By targeting the detrimental effects of ischemia-reperfusion injury, which can lead to cell death, Cellvie's technology seeks to interrupt the cascade of cellular damage and enhance overall cell function.

STORM Therapeutics

Series B in 2022
Targeting pathways that modify RNA to deliver novel cancer therapeutics.

Normunity

Series A in 2022
Normunity is a biotechnology company focused on developing precision immuno-oncology medicines, specifically a new class known as immune normalizers. These medicines aim to target novel mechanisms that enhance the body’s natural immune response against cancer. In collaboration with the lab of Dr. Lieping Chen at Yale School of Medicine, Normunity is researching newly-discovered mechanisms of immune disruption in cancer, utilizing proprietary discovery platforms to explore the intricate interactions between cancer and the immune system. The company is advancing a pipeline of immune normalizers, which includes initial drug programs designed to address the exclusion of T-cells from immune-sensitive tumors and other factors that impede normal immune function in cancer. Normunity operates from locations in Boston, Massachusetts, and West Haven, Connecticut.

Dren Bio

Series B in 2022
Dren Bio is a biotechnology company that specializes in protein engineering technologies designed to target and deplete pathogenic cells, protein aggregates, and other disease-causing agents. With a focus on hematologic neoplasms, solid cancers, autoimmune disorders, and diseases related to protein aggregation, the company aims to provide innovative solutions for healthcare professionals in their efforts to combat various serious diseases. Operating under a holding company model, Dren Bio develops multiple projects as standalone assets, seeking to create value through its diverse portfolio of biotechnology initiatives.

Transition Bio

Series A in 2022
Transition Bio, Inc. is a biotechnology company based in Cambridge, Massachusetts, with an additional office in Cambridge, United Kingdom. Founded in 2020, the company specializes in the discovery, analysis, and modulation of biological condensates. It has developed a unique platform, known as Condensomics, which facilitates hypothesis-free drug discovery and diagnostics. Transition Bio utilizes advanced droplet microfluidic techniques and protein biophysics to characterize condensates with high precision, thereby creating extensive opportunities for drug development. The company's innovative approach aims to advance human health care by providing detailed insights into molecular structures.

MAKUKU

Seed Round in 2022
MAKUKU is a retail platform specializing in mother-infant products, offering a wide range of supplies such as formula milk, complementary baby food, children's clothing, personal care items, and cotton goods. The company operates through various channels, including its mobile app, WeChat-based online mall, Tmall, JD, and physical stores, allowing customers to access its diverse product offerings. MAKUKU features both its own brand and products from other brands, catering to the needs of mothers and their infants across multiple disciplines.

Parthenon Therapeutics

Series A in 2021
Parthenon Therapeutics is inventing a novel class of anti-cancer therapies that reprogram the tumor microenvironment (TME). The interplay between cancer cells and their surrounding microenvironment is relevant in drug development as manycancers use the TME to build barriers that shield immune system attack. One approach, PRTH-101, breaks these barriers to overcome recalcitrant cancers. Based on research, the company is designing a portfolio of drug candidates to treat the right patients at the right time.

Axial Biotherapeutics

Series C in 2021
Axial Biotherapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing therapeutics for central nervous system diseases and disorders. Based in Waltham, Massachusetts, the company utilizes a microbiome discovery platform that targets the gut-brain axis, allowing for the exploration and creation of innovative therapies aimed at improving the quality of life for patients suffering from neurological conditions. Incorporated in 2013, Axial Biotherapeutics seeks to advance its pipeline of novel treatments to address the unmet needs in the field of CNS disorders.

Anavo Therapeutics

Seed Round in 2021
Anavo Therapeutics is the first company to systematically drug phosphatases, a rich target space previously considered undruggable for decades. We have attracted world-leading scientific expertise in phosphatase-driven disease biology and drug discovery to unlock the full potential of phosphatase-targeted allosteric modulators. In oncology, Anavo is developing multiple first-in-class therapeutic programs and will build on partnerships around its platform to establish a rich pipeline across several indications

Orna Therapeutics

Series A in 2021
Orna Therapeutics is a biotechnology company focused on developing a new class of fully engineered circular RNA (oRNA) therapeutics aimed at transforming disease treatment. Founded in 2019 by Alex Wesselhoeft and Raffaella Squilloni in Cambridge, Massachusetts, the company utilizes a proprietary platform that integrates innovative technology for creating circular RNAs designed to enhance protein expression. This platform also incorporates unique delivery solutions to facilitate simplified production, improved formula stability, and superior protein expression, ultimately contributing to advancements in healthcare and therapeutic applications.

Werewolf Therapeutics

Series B in 2021
Werewolf Therapeutics, Inc. is a biotechnology company based in Cambridge, Massachusetts, focused on developing innovative therapeutics that enhance the body’s immune response to cancer. Founded in 2017, the company utilizes its proprietary PREDATOR platform to engineer conditionally activated molecules, known as INDUKINE molecules. These therapeutics are designed to remain inactive in peripheral tissues but activate selectively within the tumor microenvironment, addressing the limitations of traditional proinflammatory immune therapies. By stimulating both adaptive and innate immunity, Werewolf Therapeutics aims to improve cancer treatment outcomes.

Theolytics

Series A in 2021
Theolytics Limited is a clinical-stage biotechnology company founded in 2017 and based in Oxford, United Kingdom. The company specializes in developing oncolytic viral therapies to combat cancer, utilizing a phenotypic screening platform that facilitates the discovery and development of effective, targeted treatment candidates. These therapies are designed for intravenous delivery and tailored to specific patient populations, aiming to provide innovative care options. In addition to advancing its internal pipeline of programs that address both solid and liquid tumors, Theolytics is also focused on forming strategic partnerships to enhance and expedite its pipeline development.

Dren Bio

Series A in 2020
Dren Bio is a biotechnology company that specializes in protein engineering technologies designed to target and deplete pathogenic cells, protein aggregates, and other disease-causing agents. With a focus on hematologic neoplasms, solid cancers, autoimmune disorders, and diseases related to protein aggregation, the company aims to provide innovative solutions for healthcare professionals in their efforts to combat various serious diseases. Operating under a holding company model, Dren Bio develops multiple projects as standalone assets, seeking to create value through its diverse portfolio of biotechnology initiatives.

PACT Pharma

Series C in 2020
PACT Pharma, Inc. is a biotechnology company focused on developing personalized cell-based therapies for cancer treatment, specifically through neoantigen-specific adoptive T-cell therapies aimed at solid tumors. The company utilizes bioinformatics to analyze the DNA and RNA of patients' tumors and normal tissues, identifying candidate neoantigen peptides that can stimulate targeted antitumor T-cell responses. By recognizing unique neo-epitopes associated with individual cancers, PACT Pharma enables the engineering of autologous T cells designed to specifically target and eliminate tumor cells expressing these neoantigens. Founded in 2016 and based in South San Francisco, California, PACT Pharma is dedicated to advancing innovative treatment options for patients with cancer.

Werewolf Therapeutics

Series A in 2019
Werewolf Therapeutics, Inc. is a biotechnology company based in Cambridge, Massachusetts, focused on developing innovative therapeutics that enhance the body’s immune response to cancer. Founded in 2017, the company utilizes its proprietary PREDATOR platform to engineer conditionally activated molecules, known as INDUKINE molecules. These therapeutics are designed to remain inactive in peripheral tissues but activate selectively within the tumor microenvironment, addressing the limitations of traditional proinflammatory immune therapies. By stimulating both adaptive and innate immunity, Werewolf Therapeutics aims to improve cancer treatment outcomes.

ORIC Pharmaceuticals

Series D in 2019
ORIC Pharmaceuticals is a clinical-stage biopharmaceutical company focused on developing therapies to overcome resistance in cancer treatments. Founded in 2014 and based in South San Francisco, the company’s lead product candidate, ORIC-101, is a small molecule antagonist of the glucocorticoid receptor, which is associated with resistance to various cancer therapies in solid tumors. Its second candidate, ORIC-533, is an orally bioavailable small molecule inhibitor of CD73, targeting a critical component of the adenosine pathway linked to resistance against chemotherapy and immunotherapy. In addition to these products, ORIC is advancing multiple precision medicines aimed at addressing other mechanisms of cancer resistance. The company’s founders, Charles Sawyers and Scott Lowe, have extensive experience in identifying novel cancer targets that have led to innovative therapies.

Breakpoint Therapeutics

Venture Round in 2019
Breakpoint Therapeutics is a company that discover and develop new anti-cancer drugs. By targeting the DNA damage response (“DDR”) in cancer cells, Breakpoint Therapeutics aims to advance to clinical development first-in-class oncology drugs that interfere with DNA repair and replication stress tolerance pathways. Their mission is to develop drugs that succeed and complement PARP inhibitors and facilitate the cure of therapy resistant cancers.

STORM Therapeutics

Series A in 2019
Targeting pathways that modify RNA to deliver novel cancer therapeutics.

Cullinan Pearl

Series A in 2019
Cullinan Pearl develops an orally available tyrosine kinase inhibitor to target Epidermal Growth Factor Receptor exon 20 mutations. Cullinan Pearl is a subsidiary of Cullinan Oncology.

NextCure

Series B in 2018
NextCure, Inc. is a clinical-stage biopharmaceutical company based in Beltsville, Maryland, that specializes in the discovery and development of novel immunomedicines aimed at treating cancer and other immune-related diseases. The company focuses on restoring normal immune function through its lead product candidate, NC318, currently in Phase 2 clinical trials for advanced or metastatic solid tumors. In addition, NextCure is developing NC410, an immunomedicine designed to inhibit immune suppression mediated by Leukocyte-Associated Immunoglobulin-like Receptor 1. The company's research also includes preclinical programs targeting various immunomodulatory proteins associated with tumors and inflamed tissues. NextCure has established collaborations, including a licensing agreement with Yale University and a research partnership with Eli Lilly and Company, to further its innovative therapeutic approaches. Founded in 2015, NextCure is dedicated to advancing first-in-class immunotherapy solutions.

Harpoon Therapeutics

Series C in 2018
Harpoon Therapeutics is a clinical-stage immunotherapy company developing a novel class of T cell engagers that harness the power of the body’s immune system to treat patients suffering from cancer and other diseases. T cell engagers are engineered proteins that direct a patient’s own T cells to kill target cells that express specific proteins, or antigens, carried by the target cells. Using its proprietary Tri-specific T cell Activating Construct (TriTAC), platform, Harpoon is developing a pipeline of novel T cell engagers, or TriTACs, initially focused on the treatment of solid tumors and hematologic malignancies. Harpoon's first drug candidate, HPN424, is currently in Phase 1 clinical trial as a treatment for prostate cancer.

ORIC Pharmaceuticals

Series C in 2018
ORIC Pharmaceuticals is a clinical-stage biopharmaceutical company focused on developing therapies to overcome resistance in cancer treatments. Founded in 2014 and based in South San Francisco, the company’s lead product candidate, ORIC-101, is a small molecule antagonist of the glucocorticoid receptor, which is associated with resistance to various cancer therapies in solid tumors. Its second candidate, ORIC-533, is an orally bioavailable small molecule inhibitor of CD73, targeting a critical component of the adenosine pathway linked to resistance against chemotherapy and immunotherapy. In addition to these products, ORIC is advancing multiple precision medicines aimed at addressing other mechanisms of cancer resistance. The company’s founders, Charles Sawyers and Scott Lowe, have extensive experience in identifying novel cancer targets that have led to innovative therapies.

STORM Therapeutics

Series A in 2018
Targeting pathways that modify RNA to deliver novel cancer therapeutics.

Arcus Biosciences

Series C in 2017
Arcus Biosciences, Inc. is a clinical-stage biopharmaceutical company based in Hayward, California, focused on developing innovative cancer therapies. The company’s product pipeline includes several key candidates, such as AB928, a dual A2a/A2b adenosine receptor antagonist in Phase 1b/2 trials, and Zimberelimab, an anti-PD-1 monoclonal antibody currently being evaluated in Phase Ib studies. Additionally, Arcus is advancing AB154, an anti-TIGIT monoclonal antibody in Phase 2 trials, and AB680, a small-molecule CD73 inhibitor in Phase 1/1b studies for the treatment of metastatic pancreatic cancer. The company collaborates with Strata Oncology and AstraZeneca to enhance the development of its therapies and has strategic partnerships with firms like WuXi Biologics. Founded in 2015, Arcus aims to leverage emerging insights in immunology to create effective cancer treatments across various indications, including non-small cell lung cancer and pancreatic cancer.

Harpoon Therapeutics

Series B in 2017
Harpoon Therapeutics is a clinical-stage immunotherapy company developing a novel class of T cell engagers that harness the power of the body’s immune system to treat patients suffering from cancer and other diseases. T cell engagers are engineered proteins that direct a patient’s own T cells to kill target cells that express specific proteins, or antigens, carried by the target cells. Using its proprietary Tri-specific T cell Activating Construct (TriTAC), platform, Harpoon is developing a pipeline of novel T cell engagers, or TriTACs, initially focused on the treatment of solid tumors and hematologic malignancies. Harpoon's first drug candidate, HPN424, is currently in Phase 1 clinical trial as a treatment for prostate cancer.

Arcus Biosciences

Series B in 2016
Arcus Biosciences, Inc. is a clinical-stage biopharmaceutical company based in Hayward, California, focused on developing innovative cancer therapies. The company’s product pipeline includes several key candidates, such as AB928, a dual A2a/A2b adenosine receptor antagonist in Phase 1b/2 trials, and Zimberelimab, an anti-PD-1 monoclonal antibody currently being evaluated in Phase Ib studies. Additionally, Arcus is advancing AB154, an anti-TIGIT monoclonal antibody in Phase 2 trials, and AB680, a small-molecule CD73 inhibitor in Phase 1/1b studies for the treatment of metastatic pancreatic cancer. The company collaborates with Strata Oncology and AstraZeneca to enhance the development of its therapies and has strategic partnerships with firms like WuXi Biologics. Founded in 2015, Arcus aims to leverage emerging insights in immunology to create effective cancer treatments across various indications, including non-small cell lung cancer and pancreatic cancer.
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