• Chugai Venture Fund selected Leal Therapeutics as its first investment based on an excellent management team, world-class investors and emerging science to treat CNS disorders
• Chugai Venture Fund made inaugural investment

BOSTON, 30 October 2024 – Chugai Venture Fund, LLC (CVF), a subsidiary of Chugai Pharmaceutical Co., Ltd. (Chugai), announced its first investment agreement with Leal Therapeutics, Inc. (Leal), a biotechnology company dedicated to developing novel precision medicines for patients with high-need central nervous system disorders. CVF’s investment decision was based on Leal’s deep expertise in CNS applications, strong management expertise, and the backing of world-class investors.

“We are very excited about this first investment decision for Leal Therapeutics. Chugai Venture Fund is a pioneering investment firm focused on fostering innovation and driving transformative advances in the life sciences industry. We will continue to support entrepreneurs and visionary teams to realize their breakthrough ideas and ultimately contribute to the betterment of healthcare and society,” said the Head of Chugai Venture Fund, John Gustofson.

CVF was established in the Boston area, MA, USA in 2023 as a wholly owned subsidiary of Chugai. The Company will invest an overall US$200 million in drug discovery targets, drug discovery technologies, and digital technologies that lead to the creation of innovative new drugs.

[Reference]
Chugai Establishes Corporate Venture Capital to Accelerate Innovation Opportunities with Drug Discovery Start-ups (press release issued by Chugai on Jun 27, 2023)
https://www.chugai-pharm.co.jp/english/news/detail/20230627150000_995.html

About Chugai Venture Fund:
Chugai Venture Fund is a pioneering investment firm focused on fostering innovation and driving transformative advances in the life sciences industry. As a subsidiary of Chugai Pharmaceutical Co., Ltd., we leverage our parent company’s extensive expertise and global presence to identify promising start-ups and cutting-edge technologies. Our mission is to help entrepreneurs and visionary teams realize their breakthrough ideas and ultimately contribute to the betterment of healthcare and society. By providing strategic funding, mentorship and access to resources, we aim to create a collaborative ecosystem that accelerates the development and commercialization of breakthrough therapies and medical solutions. To learn more, please visit www.chugaiventurefund.com

About Chugai Pharmaceutical:
Chugai Pharmaceutical Co., Ltd., headquartered in Tokyo, is a research-based pharmaceutical company with world-class drug discovery capabilities, including proprietary antibody engineering technologies. Chugai is committed to creating innovative pharmaceutical products that may satisfy unmet medical needs. Chugai is listed on the Prime Market of the Tokyo Stock Exchange. While maintaining autonomy and management independence, Chugai is an important member of the Roche Group. Additional information is available at https://www.chugai-pharm.co.jp/english/.

About Leal Therapeutics:
Leal Therapeutics is a biotechnology company dedicated to developing novel precision medicines for patients with high-need central nervous system disorders. Leal was launched in 2021 and is headquartered in Worcester, MA. Additional information is available at https://lealtx.com/.