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Mar. 11, 2022Print(PDF/123KB)Corporate

Sumitomo Dainippon Pharma Announces Additional Investment in Aikomi Ltd.

Sumitomo Dainippon Pharma Co., Ltd. (Head Office: Osaka, Japan; Representative Director, President and CEO: Hiroshi Nomura; hereafter, "Sumitomo Dainippon Pharma") announced today an additional investment of approximately 200 million yen in Aikomi Ltd. (Head Office: Yokohama, Kanagawa, Japan; President and CEO: Nick Hird; hereafter, "Aikomi") as Pre-Series A2 fund raising for Aikomi.
With Sumitomo Dainippon Pharma's investment of approximately 200 million yen for Aikomi's Pre-Series A fund raising in July 2020, the extra investment brings the total investment amount to approximately 400 million yen (Percentage of voting rights: 33%).

Aikomi and Sumitomo Dainippon Pharma are jointly developing next generation digital medical devices (hereafter, "the devices") to create sustainable solutions for dementia. These devices seek to conveniently and automatically relieve behavioral and psychological symptoms of dementia (BPSD) by providing highly personalized visual, auditory, olfactory and other sensory stimulation using artificial intelligence (AI).

In line with our aim to develop new business opportunities in healthcare areas other than pharmaceuticals as frontier areas, Sumitomo Dainippon Pharma concluded a joint research agreement with Aikomi for the devices in February 2019*1. Also, in July 2020, Sumitomo Dainippon Pharma, Aikomi and Sonpo Japan Insurance Inc. agreed to collaborate on the research and development and commercialization of the devices for nursing care and medical applications*2.

*1: Please see the press release of February 8 2019.
*2: Please see the press release of August 4 2020.

Sumitomo Dainippon Pharma expects the additional investment to reinforce its collaboration with Aikomi as well as the joint development and commercialization of the devices for nursing care and medical applications to support quality of life for people living with dementia which is also expected to help reduce care burden for their families and caregivers.

Aikomi corporate profile

Company Name: Aikomi Ltd.
President and CEO: Nick Hird
Head office address: 19th Fl., Minato Mirai Center Building, Minato Mirai 3-6-1, Nishi-ku, Yokohama, Kanagawa Pref.
Details of business: Planning, R&D and sale of medical, nursing care and healthcare services for dementia patients, their families and caregivers utilizing digital therapy technologies
Capital: ¥251 million
Established: February 22, 2018
No. of employees: 18

About behavioral and psychological symptoms of dementia (BPSD)
Symptoms of dementia are divided into two groups: one is "core symptoms" that appear as cognitive impairment and impaired judgment, and the other is "behavioral and psychological symptoms of dementia (BPSD)" that include agitation, anxiety, aggression, depression, apathy, delusions, and hallucinations. Experiencing BPSD lowers the patients' quality of life and simultaneously imposes a great burden on their caregivers and healthcare professionals.
The term Responsive Behaviors may also be used for BPSD to encourage caregivers to think about the reasons behind them.