FIMECS was Adopted 250M JPY of Grant Funding, “Product Commercialization Alliance (PCA)”
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Kanagawa, Japan, 18th, Augusta 2021 – FIMECS, Inc. (“FIMECS”) a private biotechnology company creating a new class of drugs based on targeted protein degradation, today announced that FIMECS was adopted 250M JPY of Grant funding, “Product Commercialization Alliance (PCA)” by New Energy and Industrial Technology Development Organization (“NEDO”) to support R&D startups from seed to early phases for launching the seeds of proprietary technology.
“FIMECS is focusing on targeted protein degradation which is emerging technology but it is difficult to apply the traditional drug discovery because the binding affinity and the degradation of a target protein are not correlated.” said Yusuke Tominari, Ph.D., Co-founder, CEO of FIMECS. “By the grant funding, we will accelerate a further development of proprietary platform technology, RaPPIDSTM, and establish more efficient drug discovery platform, 2nd generation RaPPIDSTM within 3 years. We expect that 2nd generation RaPPIDS will contribute to not only a contract the agreement with pharmaceutical companies but also an expansion of proprietary pipeline in the future”.
About NEDO PCA
Product Commercialization Alliance (PCA) is a grant project to support R&D-type startups which have a business plan to generate continuous sales within 3 years.
About FIMECS, Inc.
FIMECS, Inc. is developing a new class of drugs based on targeted protein degradation for the currently ‘undruggable’ targets in immuno-oncology and oncology areas. The company became able to discover drug candidates for inducing the degradation of disease-relevant targeted proteins by integrating proprietary E3 ligase binders and RaPPIDS™ platform. This drug discovery platform will help providing drugs to the patients all over the world through various internal and collaboration projects.
RaPPIDS™ (Rapid Protein Proteolysis Inducer Discovery System) is one of the proprietary drug discovery platforms of FIMECS, Inc. used to generate therapeutic candidates of the targeted protein degrader. The platform allows synthesizing and evaluating various degraders quickly based on the company’s proprietary know-how and diversity-oriented synthesis, and delivery of the drug candidates with the best combination of target protein binders, linkers, and E3 ligase binders.
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FIMECS, Inc. Media and Investor Contact:
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