Creation of an AI-powered drug discovery company

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Mitsui & Co., Ltd. (“Mitsui”, Headquarters: Tokyo, President and CEO: Kenichi Hori) has established a new company, Xeureka Inc. (“Xeureka”), to engage in early drug discovery research using a state of the art computer technology, including AI and simulations.

The pharmaceutical industry has been affected by a number of industrial issues, including high R&D costs exceeding 100 billion yen, a low success rate of less than 1%, and long development times of 10 to 20 years for a new drug discovery. Xeureka aims to dramatically improve efficiency and increase success rate by widely using computer technology in all aspects of drug development, thus contributing to the timely delivery of high quality drugs at an economical price to affected people. by diseases, especially cancer. Xeureka will develop its business in collaboration with Mitsui Knowledge Industry (Headquarters: Minato-ku, Tokyo, President and CEO: Kengo Asano), a 100% subsidiary of Mitsui that has been working in the field of bioinformatics for a long time. half a century.

Mitsui & Co. has positioned the area of ​​health and nutrition as one of the strategic focus areas under its 2023 Medium Term Management Plan and has committed to scale-wide efforts. the company to create a group of health activities under the name of “Wellness All Mitsui” (WAM). The creation of Xeureka is one of Mitsui’s specific initiatives to provide pharmaceutical companies with DX solutions as a framework to prove DX solutions by leveraging medical business relationships.

Mitsui is committed to evolving high value-added business models through the combination of its vast business asset platforms, while continuing to contribute to sustainable social development through business activities by evolving its own business models in tune with social changes.

Profile of the new company

name

Xeureka Inc.

Address

2-1, Otemachi 1-chome, Chiyoda-ku, Tokyo

Establishment

November 1, 2021

Shareholders

Mitsui & Cie (100%)

Commercial activities

AI-Based Drug Discovery Services, Collaborative Research for New Drug Discovery

Disclaimer

Mitsui & Co. Ltd. published this content on November 11, 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on November 11, 2021 01:16:09 AM UTC.


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