Abstract
Venture capitals are investing in ventures with high growth potential providing a product and service through new technology and business model. In Japan, many ventures with a DDS (Drug delivery system) technology (DDS ventures) have established, and some of them have carried out the clinical trial of their pipeline. There are two important points in DDS ventures from my experience of an investment activity as follows. 1) For the pharmaceutical company, the attractiveness as a product itself with their DDS technology is more valuable than the superiority of their DDS technology. 2) As for the DDS ventures, the manufacturing process of materials of DDS and the bulk of products with DDS becomes the big hurdle in research and development (R&D).In a tide of the open innovation in the R&D, pharmaceutical companies have been trying to find DDS technologies in academia directly. We recognize this situation as one of the investment opportunity and will keep eyes on DDS technologies more closely.
