A $3 Billion Biotech Firm That Almost Wasn't Finds New Life
- PeptiDream’s co-founders invested own money to start firm
- Japanese biotech stocks have surged over past two years
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The biggest biotechnology company in Japan almost didn’t get built.
When Patrick C. Reid, now managing director of PeptiDream Inc., arrived in Japan about a decade ago, he found investors reluctant to put much money into drug startups -- even though the country had world-class universities and pharma companies. A string of biotech firms had seen their shares slump by the mid-2000s, leaving the sector with an unfavorable image.