Mitsubishi Chemical unit in stem cell play with Clio

Mitsubishi Chemical Holdings unit Life Science Institute has bought multilineage-differentiating stress-enduring (Muse) stem cell firm Clio for more than 1 billion yen ($8 million), according to a press release. Life Sciences in a Japanese language release on May 14 said Clio will become a wholly-owned subsidiary. Japan has made a concentrated research effort into stem cells at the research and clinical levels and Clio has worked with the Pharmaceuticals and Medical Devices Agency to head toward clinical trials in the 2016 financial year. Another unit of the group, Mitsubishi Tanabe Pharma, may also work with the firms toward commercialization prospects. Release (PDF)(Japanese)