Ono Pharmaceutical Co., Ltd. has increased its investment pool from $100 million to $200 million to continue strategic investment in Ono Venture Investment Fund I, L.P., which was established as a corporate venture capital fund in 2020.

Ono established Ono Venture Investment, Inc., as well as OVI FI as local subsidiaries in the U.S. with the aim of accessing and partnering on drug discovery targets and cutting-edge technologies for the generation of innovative medicines. OVI manages the investment fund and invests in bio-ventures and startup companies.

Since the establishment in 2020, OVI and OVI FI have been supporting the drug discovery activities through strategic investments in 11 bio-venture companies to date, including the most recent investment in Photys Therapeutics in Waltham, MA.

According to the company, with this increase in investment, Ono will create and accelerate further open innovation through OVI and OVI FI activities and make more strategic investments in bio-venture companies and startup companies.