After years of financial struggles related to its mainstay product’s loss of exclusivity and multiple failures of R&D projects, Sumitomo Pharma is further pivoting toward its allogeneic induced pluripotent stem cell (iPSC) therapy business with a new joint venture.
RACTHERA was established in November in Tokyo with JPY1m ($6,400) in capital from the Japanese firm and its parent Sumitomo Chemical and will start operations on 1 February 2025.
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