Stories of ICMG Group
ICMG Co-Creation Fund Ⅱ invests in Reborna Biosciences, Inc., a startup conducting research and development of low-molecular drugs targeting RNA for drug discovery.
We are pleased to announce that ICMG Co-Creation Fund II Limited Partnership, managed by ICMG Ventures Pte. Ltd. (HQ: Singapore), with 3 limited partners, Oki Electric Industry Co., Ltd. (HQ: Minato-ku, Tokyo), Hokuriku Bank, Ltd. (HQ: Toyama City, Toyama Prefecture), and 77 Bank Co., Ltd. (HQ: Sendai City, Miyagi Prefecture), has invested in Reborna Biosciences, Inc. (HQ: Fujisawa City, Kanagawa Prefecture), a startup engaged in research and development of low-molecular drugs for rare genetic diseases, with RNA as a drug target. In this funding round, we have invested with prominent investors, including Nissay Capital, Angel Bridge, Toho Holdings, Yokohama Capital, UntroD Capital Japan, and The Gogin Capital, to support further growth.
（From left）Koji Fuji, the president of Reborna Biosciences Inc.,
Gen Funahashi, Founding Partner of ICMG Ventures Pte. Ltd.
Gen Funahashi, Founding Partner of ICMG Ventures Pte. Ltd.
RNA-targeted drug discovery is expected to be a highly promising solution for genetic diseases, as it allows direct access to the RNA that synthesizes proteins. According to a survey by Report Ocean, the RNA-targeted low-molecular drug discovery market is estimated to be worth US$1.1 billion (approximately ¥165 billion) worldwide in 2022, and is expected to grow rapidly at an average annual growth rate of 20.9%, reaching US$5.02 billion (approximately ¥735 billion) by 2030.
However, until now, when screening low-molecular compounds for RNA-targeted drug candidates, the process was done by using fragmented small RNA structural models that do not exist in the human body. Due to that the actual binding state in the human body cannot be reproduced, gaps such as “the effect was not as expected when administered to humans” or “the expected safety was not proven” have arisen, making this one of the hurdles for RNA-targeted low-molecular drug development.
Reborna Biosciences has successfully developed a technology and screening method that reproduces the natural three-dimensional structure of RNA found in the human body in a test tube, enabling the company to verify efficacy and safety of drug candidates with extremely high precision and break through the barriers of conventional RNA-targeted low-molecular drug discovery. In fact, their RNA-targeted low-molecular drug discovery research platform has been highly evaluated by pharmaceutical companies both domestically and internationally. In April 2021, they entered into a joint research agreement with Biogen in the US, in September 2024 with Kissei Pharmaceutical, and in March 2025 with Ono Pharmaceutical, marking the emergence of collaborative efforts to advance drug discovery research targeting hereditary rare diseases.
The significance of this investment lies in accelerating the development of RNA-targeted oral medications that can be taken at home, which are more patient-friendly, for rare genetic diseases for which there have been no effective solutions to date. Through this, we believe it is important to address unmet medical needs in the industry and help patients suffering from rare genetic diseases achieve a healthier state. (SDGs No. 3)
ICMG Group will leverage its extensive network of Japanese major companies to focus on exploring and building relationships with partners who can accelerate Reborna Biosciences' drug discovery research and build a value chain that can deliver drugs to patients as quickly as possible. Additionally, by leveraging our network with public institutions, accelerators, and startups in India and Southeast Asia, we will contribute to future expansion into consumer markets, the global expansion of pharmaceutical research technology, and the development of the Japanese economy.
■Comments from Gen Funahashi, Group COO of ICMG Group:
Reborna Biosciences is a company making a significant social impact by transforming RNA drug discovery with its proprietary screening technology, which is based on the three-dimensional structures of RNA found in the human body. The company has already entered into licensing agreements with multiple major pharmaceutical companies, highlighting its strong market potential. As ICMG Group, whose purpose is “Co-creating the future with like-minded partners from around the world,” we are committed to supporting Reborna’s sustainable growth by accelerating collaboration with global players as a business co-creation partner.
Gen Funahashi, Group COO of ICMG Group
【About Reborna Biosciences, Inc.】
Reborna Biosciences conducts research and development to create oral drugs that demonstrate fundamental therapeutic effects by normalizing RNA function, through the identification of low-molecular compounds that exhibit high affinity for RNA using a unique screening method based on the three-dimensional structure of RNA that actually exists in the human body. We will promote our research activities and contribute to medical society so that patients suffering from rare genetic diseases and their families can experience a new drug that makes them feel as if they have been reborn as soon as possible.URL：https://rebornabiosciences.com/
About ICMG Group
ICMG Group is a business co-creation partner for Japanese companies that delivers solid results through co-creation with diverse stakeholders by visualizing the invisible value of a company's intellectual capital that does not appear on the balance sheet.
For more than 25 years since its establishment, the Group has been providing services in Tokyo, Singapore, Bangalore, Abu Dhabi, Nairobi, San Francisco, Shanghai, and Stockholm, including intellectual capital evaluation, which is the source of corporate value, strategy development based on such evaluation, execution, leadership development, business investment, venture capital We are committed to creating results for Japanese companies by co-creating with our clients in a comprehensive manner, including M&A, UI/UX design, engineering, recruiting, and the establishment and management of joint ventures.
We have also established a joint venture in Singapore with Tokyo Electric Power Company and Chubu Electric Power Company to invest in renewable energy and next-generation infrastructure, and have entered into a partnership with the United Nations UNDP on SDG innovation. In venture capital, we have co-invested in India with top global VC firms such as Sequoia Capital, Google, and Tiger Global Management, etc. In 2023, ICMG Digital will accelerate innovation in society by connecting the paths and visions of the management of Japan's largest companies with the power of digital technology. ICMG Digital, which will accelerate innovation in society by connecting the paths and visions of the management of Japan's largest companies with the power of digital technology.
The core value of the ICMG Group, which has created such diverse value, lies in its Intellectual Capital Management, which has always visualized the invisible value of companies and organizations, envisioned their future vision (Purpose), and realized their value creation.