Toray takes stake in Mitsui bio-CMO

Chemical giant Toray Industries has acquired a 20% stake in Mitsui subsidiary MicroBiopharm Japan. MBJ is both a manufacturer and a contract manufacturer of biopharma APIs and intermediate substances.

According to a statement, Toray lists life sciences among the "intensively developing and expanding businesses" that are key to its growth. The deal promotes technology sharing between Toray and MBJ, the statement said. It will strengthen development-stage manufacturing and aid drug discovery.

Japanese conglomerate Mitsui, a longtime provider of both pharma raw materials and contract manufacturing services, prioritizes the medical and healthcare business, according to the statement. Its involvement "encompasses the entire pharmaceutical value chain, from pharmaceutical manufacturing in the medical field to support for distribution and sales."

MBJ also produces fine specialty chemicals. It holds 34% of China's Shenzhen Main Luck Pharmaceuticals, which makes cancer drugs.

- here's the statement