TANAKA contributes to Ambix Life Science fund, an American venture capital fund for medical devices
The contribution encourages investment in medical startups and strengthens overseas development in the health sector
TOKYO, September 6, 2021 – (JCN Newswire) – TANAKA Kikinzoku Kogyo KK (Headquarters: Chiyoda-ku, Tokyo; Representative Director and CEO: Koichiro Tanaka), which is a subsidiary of TANAKA Holdings Co., Ltd. and operates the Precious Metals Manufacturing Company TANAKA announced today that TANAKA has made a capital contribution to Ambix Life Science Fund I, LP, a medical device venture capital fund managed by Ambix Venture Management, LLC, a United States-based venture capital management company (“Ambix Ventures”).
Thanks to this equity contribution, TANAKA will strengthen its commercial development abroad in addition to its national commercial development and will contribute to the development of a safe and secure health industry.
Context and objectives of the contribution
TANAKA supplies components and materials of precious metals to manufacturers of medical devices and participates in development projects, cooperating and contributing to development in the field of health. In addition, the company has provided equity to several medical device venture capital funds in the past and made the decision at that time to make a contribution to Ambix Ventures venture capital fund, which is based in Silicon Valley, one of the centers of device innovation, to further support the development of the healthcare industry. TANAKA seeks to strengthen ties with the US healthcare industry and contribute to the advancement of advanced healthcare through the use of precious metal components and materials in healthcare by providing equity contribution at the fund, which is managed by Aaron Berez, MD, a leading healthcare entrepreneur, and Peter N. Townshend.
Dr Berez, Director of Ambix Ventures, commented on the equity contribution: “The world has changed with the advent of the COVID-19 coronavirus pandemic. However, it also underscored the importance of infrastructure and global health challenges. . At Ambix, we are delighted to be a part of this ongoing challenge, in our case the mission continues to make healthcare more efficient. We welcome the participation of TANAKA within the Ambix team. “
Current initiatives of TANAKA in the field of health
TANAKA is a professional precious metals organization with several products that claim prominent shares in global markets, including fuel cell bond wires and catalysts. The Group provides stable supplies of precious metals, which are valuable resources, using a recycling-oriented business, from sourcing to product development and recycling. TANAKA has long focused on the health field as an area that can contribute to society while utilizing the properties of precious metals. The company contractually manufactures in vitro diagnostic kits that use gold colloids and supplies precious metal components and materials to domestic and foreign medical device manufacturers.
Precious metal parts and materials that use platinum, gold, and other metals are used in many devices for treating blood vessels, including balloon catheters, guidewire embolization coils, and stents. Precious metals, especially platinum and gold, have high biocompatibility and density compared to other metals, making them very opaque to x-rays. Accordingly, when inserting balloon catheters or other medical devices in the blood vessels, the treatment can be carried out while confirming the location of the device in the blood vessel by visualizing the precious metal part, providing an advantage over other metals.
About Ambix Life Science Fund and Aaron Berez, MD
Ambix Life Science Fund I, LP is a medical device venture capital fund managed by Ambix Venture Management, LLC, a United States-based venture capital management firm. Operations began in May 2020.
Aaron Berez, MD, one of the two directors of Ambix Venture Management, is the founder and CEO of Alembic LLC and a representative serial entrepreneur in the field of cerebral endovascular therapy. He is known for the development of the Pipeline Embolization Device (PED), the first FDA-approved flow diverter at Chestnut Medical Technologies, Inc. Other medical device companies he has worked with include Cathera, SMaRT Therapeutics, Inc. , Endovasix, C2 Therapeutics and Sapheon.
Peter Townshend, the other director of Ambix Venture Management, is a leading lawyer, business advisor and authority on startups, angel investors and venture capital, business transactions, and mergers and acquisitions. Peter has advised life science startups since 1996. He launched Townshend Venture Advisors, LLP in 2017 after a long career as a senior partner for various technology law firms in Silicon Valley and San Diego, more recently Perkins Coie LLP. Peter’s career has included working with a number of life science companies including Atrionix (acquired by Johnson & Johnson), Appriva Medical (acquired by ev3), Adeza Biomedical (IPO), Abunda Nutrition (acquired by Evolva ), MitraLife (acquired by ev3), Chestnut Medical (acquired by ev3), ConforMIS (IPO), Cathera (acquired by Medtronic), Companion Medical (acquired by Medtronic) and existing startups Avails, ThrombX Medical, Alembic and all companies of Alembic’s portfolio, including Palmera, and acting as lead investor adviser for Alembic Syndicate’s investment in ABK. Peter has helped his clients raise over $ 2 billion in private and public funding.
Fund Facts Ambix Life Science Fund I, LP Fund Name: Ambix Life Science Fund I, LP, a Delaware limited partnership Creation: May 2020 The fund is a relatively new fund based on a long-standing syndicate of medical device investors. The fund was created to contribute to the global development of advanced healthcare by investing in medical and healthcare startups.
TANAKA Holdings Co., Ltd. (Holding of TANAKA Precious Metals)
Headquarters: 22F, Tokyo Building, 2-7-3 Marunouchi, Chiyoda-ku, Tokyo Representative: Koichiro Tanaka, Representative Director and Chief Executive Officer Founded: 1885 Incorporated: 1918 * Capital: 500 million yen Consolidated group workforce: 5,193 (FY2020) Consolidated group net sales: JPY 1,425,617 million (fiscal year 2020) Main activities: The holding company at the center of TANAKA Precious Metals responsible for the strategic and efficient management of the group and support for the management of group companies. URL: https://www.tanaka.co.jp/english/ * TANAKA Holdings adopted a holding structure as of April 1, 2010.
TANAKA Kikinzoku Kogyo KK
Headquarters: 22F, Tokyo Building, 2-7-3 Marunouchi, Chiyoda-ku, Tokyo Representative: Koichiro Tanaka, Representative Director and Chief Executive Officer Founded: 1885 Incorporated: 1918 Capital: 500 million yen Employees: 2,453 (as of March 31, 2021) Sales: JPY 1,251,066,897,000 (FY2020) Main activities: Manufacture, sale, import and export of precious metals (platinum, gold, silver and others) and various types of industrial products made of precious metals. URL: https://tanaka-preciousmetals.com
About TANAKA Precious Metals
Since its founding in 1885, TANAKA Precious Metals has built a diverse line of business activities focused on precious metals. TANAKA is the leader in Japan in terms of volumes of precious metals processed. Over many years, TANAKA has not only manufactured and sold precious metal products for industry, but also supplied precious metals in forms such as jewelry and assets. As specialists in precious metals, all Group companies in Japan and abroad collaborate with unified cooperation between manufacturing, sales and technological aspects to offer products and services. In addition, to continue to progress in globalization, TANAKA Kikinzoku Kogyo welcomed Metalor Technologies International SA as a member of the Group in 2016.
As precious metals professionals, TANAKA Precious Metals will continue to contribute to the development of a rewarding and prosperous society.
The five main companies that make up TANAKA Precious Metals are as follows. – TANAKA Holdings Co., Ltd. (pure holding company) – TANAKA Kikinzoku Kogyo KK – TANAKA Denshi Kogyo KK – Japan Electroplating Engineers, Limited – TANAKA Kikinzoku Jewerly KK