The Sosei Group is making a major change to its corporate business as it renames and changes up its head office location.
This comes amid two major buyouts for the group in the form of Heptares Therapeutics in 2015 (which had become Sosei Heptares) and its deal to snap up Idorsia Pharmaceuticals' Japan business last year.
Now, the group has decided to formally merger Idorsia Pharmaceuticals Japan (aka IPJ) into Sosei “with the strategic goal to expand the company’s operations in Japan,” the company said in a statement.
This has, however, left a lot of legacy names and subsidiaries that now won’t technically exist, so, for the sake of simplicity, Sosei has decided to bring all these names under one corporate umbrella from April 1 into Nxera Pharma.
Simplicity also exists within the rebrand: “The name 'Nxera' derives from the words 'Next' and 'Era' to express the company’s determination to be a leader in the next era of science and healthcare,” the company said in its press release.
Its mission statement is to be a “technology enabled pharma company that will challenge the status quo in its pursuit of better treatments for patients in need across multiple therapeutic areas.”
While the umbrella exists for Nxera, there are country names wedded to each new-look company. This sees Sosei Group Corporation become Nxera Pharma, while IPJ becomes Nxera Pharma Japan and its Korea biz becomes Nxera Pharma Korea.
Heptares Therapeutics, meanwhile, becomes Nxera Pharma UK.
This also sees the moving of its head offices to the same location as the head office of what was IPJ, which is in Minato City in Tokyo. This is to “accelerate business integration and enhance operating efficiencies,” the company said.