Preferred Networks raises a total of about 900 million yen in capital from Chugai Pharmaceutical and Tokyo Electron
July 26, 2018, Tokyo Japan – Preferred Networks, Inc. (PFN, Headquarters: Chiyoda-ku, Tokyo, President and CEO: Toru Nishikawa) has agreed to receive investments of about 700 million yen from Chugai Pharmaceutical Co., Ltd. (Chugai, Headquarters: Chuo-ku, Tokyo, President and CEO: Tatsuro Kosaka) and about 200 million yen from Tokyo Electron Ltd. (TEL, Headquarters: Minato-ku, Tokyo, President & CEO: Toshiki Kawai) through its subsidiary in August 2018.
PFN will use the raised capital to strengthen its financial base, improve computing resources, and continue recruiting talented people.
PFN and Chugai have established a comprehensive partnership to develop innovative drugs and services that create new value. PFN and Chugai will collaborate on joint projects to solve open problems in drug research and development as well as those for more exploratory initiatives by utilizing deep learning technology. Also, PFN and TEL have begun joint research on applications of deep learning to such areas as optimization and automation in semiconductor manufacturing.
PFN will strive to drive innovation not only in the fields of transportation system, manufacturing, and bio/healthcare but in a broad range of business areas to increase its corporate value.
We have received the following comments from Chugai and TEL:
“The fusion of existing and new technologies such as IoT and AI will become essential in all value-chain activities including research and development in the domain of healthcare and life science. By applying PFN’s cutting-edge data analysis techniques, such as machine learning and deep learning, to Chugai’s overall business operations centering on “technology-driven drug discovery,” we are aiming to deliver innovative drugs and services that address high unmet medical needs and contribute to the medical community and human health around the world.”
Executive Vice President of Chugai in charge of Project & Lifecycle Management (Marketing) and Corporate Planning
“I have high expectations that PFN and TEL will be able to fuse the world’s most advanced technologies of deep learning and chipmaking to produce an epoch-making result that leads to innovation in semiconductor manufacturing.”
Deputy General Manager, Corporate Innovation Division, Corporate Marketing, Information Technology
Chugai Enters into Comprehensive Partnership Agreement with Preferred Network
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