TOKYO--(BUSINESS WIRE)--Taiyo Pacific Partners announced today that it has accumulated in excess of 5% in Sosei Group Corporation (4565) to become Sosei’s second largest shareholder. The company (or “Sosei”) is an international biotechnology company focused on discovering, developing and delivering new medicines that could contribute to improving the health and quality of life of people around the world. Taiyo Pacific Partners is a pioneer of friendly engagement investing in Japan and has been proactively working with senior management at its portfolio companies to enhance shareholder value for over 14 years.
Brian K. Heywood, Chief Executive Officer and Managing Partner of Taiyo Pacific Partners, said, “I am excited about the strategic investments the Company has made to augment their technology and business. With the addition of Heptares Therapeutics, Sosei has a differentiated drug discovery platform and a burgeoning pipeline of partnered and in-house drugs with the potential to address multiple diseases afflicting billions around the world. As with all of our portfolio companies, we look forward to working with management and supporting their continued growth.”
Michael A. King, Chief Investment Officer and Managing Partner of Taiyo Pacific Partners, said, “While the quarter-by-quarter earnings and cash flow will be lumpy during this investment phase, we are excited about the long-term potential for Sosei’s drug discovery process to bring multiple novel candidates into trials over the next 18-24 months. Sosei’s balanced model of partnership, strategic tie-ups, and in-house R&D is geared toward optimizing upside while diversifying development and commercial risk across a range of clients and disease indications. We believe that patient investors will be well rewarded for their investment in Sosei.”
Taiyo Pacific Partners, located in Kirkland, Washington, was founded in 2003 by Asia-focused professionals dedicated to friendly shareholder activism in Japan and other Asian countries. The firm currently manages approx. $2.5 billion in Japan focused funds. All strategies employ a friendly activist approach. Investors include international blue-chip investors such as major pension plans, Sovereign Wealth Funds, and endowments.