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Fuji Photo Film Co., Ltd. Makes Equity Investment in Perseus Proteomics Inc.


ppmx.gifFuji Photo Film Co., Ltd. ("Fujifilm") has purchased a 22% equity stake in Perseus Proteomics, Inc. ("Perseus Proteomics") for 998 million yen (US$8.5 million), through a third-party allocation of new shares, making Fujifilm the largest shareholder of Perseus Proteomics. The deal marks Fujifilm's full-fledged entry into the antibody-based therapeutics business.

Perseus Proteomics, by forming a cooperative partnership with Fujifilm, will continue to develop novel therapeutic and diagnostic agents for cancer and other lifestyle-related diseases through the use of its advanced technology to produce monoclonal antibodies.

Based on technology developed at Perseus Proteomics, Fujiflim plans to market a diagnostic system that utilizes diagnostic biomarkers for cancer and other lifestyle-related diseases by 2008. Perseus Proteomics and Fujifilm will also proceed with the development of new advanced medical materials combining Perseus' technologies with Fujifilm` molecular imaging technology which enables visualization of in vivo molecules using proprietary materials. Additionally, Perseus Proteomics and Fujifilm will search for novel medical compounds by applying Perseus' technologies to the over 200,000 types of chemical compounds developed at Fujifilm.