Nagasaki Bioventure Company Bio Labo Prepares For Bankruptcy Filing
This article was originally published in PharmAsia News
Executive SummaryAccording to Japan's private credit agency Teikoku Data Bank, biopharmaceutical venture company Bio Labo, based at Siebold University of Nagasaki, is prepared to file for bankruptcy protection. The company's total debt is estimated to be around ¥700 million. Established in 2003 and led by the university's biologic professor Kenji Kukino, the company aimed to discover new drugs based on generic information obtained from drug companies and received support from the Nagasaki Prefecture. However, a planned joint research facility project with Zhejiang Province, China was delayed in September 2005, which negatively impacted its business. (Click here for more - Japanese language)
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