The firm has an anti-liver fibrosis drug in clinical trials in the US, Europe and Japan
Japanese diversified materials manufacturer Nitto Denko Corporation has formed a new company to focus on pharmaceutical development.
Called Nitto BioPharma, the firm has been conducting its first anti-liver fibrosis drug programme (ND-L02-s0201), which is now in clinical trials in the US, Europe and Japan.
Osaka-based Nitto says Nitto BioPharma has several more pipelines of drugs for intractable diseases in the discovery stage.
Along with the establishment of the new company, by the middle of this year Nitto plans to set up a new facility in the Life Sciences hub in San Diego, CA, US.
Going forward, drug discovery and development ventures, such as the anti-fibrosis drug programme and others, will be conducted by Nitto and the new company.
Nitto BioPharma's activities fall into Nitto's Fine (Life Sciences) business. The firm also plans to expand its Green (Environment) and Clean (New Energy) activities.