Singapore, Oct. 5 -- Japanese startup Celaid Therapeutics Inc. has announced the completion of the second close of its Series B financing round. The round welcomed Shionogi & Co., Ltd. and Teikoku Ventures, Inc. as new investors, raising a total of JPY 400 million (approximately $2.6 million).

In addition, Celaid passed the second stage-gate review of AMED's "Strengthening Programme for Pharmaceutical Startup Ecosystem" and was selected for Stage 3 funding. With this financing and AMED support, Celaid's cumulative funding raised to date, including grants, now totals approximately JPY 3.42 billion (approximately $22.1 million).

The participating investors cited CLD-001's development progress and its therapeutic potential as key factors i...