AstraZeneca to bid with Takeda for Israeli biotech incubator

AstraZeneca and Japan's Takeda will bid against Johnson & Johnson and OrbiMed for the Chief Scientist's tender.

UK pharmaceutical company AstraZeneca plc (LSE:AZN) is the second bidder for the dedicated biotech incubator being set up by the Chief Scientist's incubator program at the Ministry of the Economy, sources inform "Globes."

The company will bid for the incubator tender against a consortium of OrbiMed venture capital fund and healthcare giant Johnson & Johnson (NYSE: JNJ).

"Globes" understands that in bidding for the incubator AstraZeneca will team up with Takeda Ventures Inc., the venture capital fund of Japanese drug company Takeda Pharmaceuticals Co. Ltd. (TSE: 4502).

The tender bid winner will be announced in the coming few months.

Published by Globes [online], Israel business news - www.globes-online.com - on June 11, 2013

© Copyright of Globes Publisher Itonut (1983) Ltd. 2013

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