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Takao Fujiwara
Although Japan has both a globally rare national M&Ated healthcare program and one of the most extensive life science research capabilities in the world, there is a risk of their divergence due to Japan’s aging citizenry and the domestic pharmaceutical industry. In order to bridge the gap between the research findings and the healthcare welfare with innovative new drugs under a prolonged drug development period and the diminishing grace period before generic drug introduction, we will examine the potential of risk management methods in biotech start-ups from real options, game theory, and start-up ecosystems perspectives. One of the reasons of this article’s focus on the biotech start-ups reflects the trend of the government 2015 policy as ‘Comprehensive reform of social security and tax’ for global drug discovery and start-up founding and the government policy and the economy trend.