Tokyo · North Asia desk
North Asia is where licensing economics decide the outcome.
Japan and Korea hold deep pharma balance sheets and demanding regulators. We invest where a company's value is set by partnering strategy as much as by data.
Focus
Therapeutics · Licensing
Cheque
US$10M+
Markets
JP · KR · TW · HK
Time zone
JST (UTC+9)
Where we add value
Out-licensing and in-licensing routes between North Asian pharma and our India and US portfolio, including regional rights carve-outs that fund clinical work without dilution.
PMDA and MFDS sequencing advice for companies planning Japanese or Korean approval alongside FDA.
What we avoid
Assets whose only thesis is a domestic reimbursement anomaly, and cross-border structures that cannot survive a change in transfer-pricing scrutiny.
Frequently asked questions
- Do you invest directly into Japanese companies?
- Selectively, usually alongside a domestic sponsor, and more often through licensing structures than primary equity.
- Can Japanese corporates partner with your portfolio?
- Yes — corporate licensing and distribution partnerships are a core function of the Tokyo desk.
- Which North Asian markets are in scope?
- Japan, South Korea, Taiwan and Hong Kong.