A Tokyo, Japan-based electronics and imaging company known for printers is forming a partnership with Baltimore-based biotech company Elixirgen Scientific.
With the partnership, Ricoh Company, Ltd is taking a 34.5 percent stake in Elixirgen for an undisclosed price. Going forward, there are plans to launch a biomedical business that is based in the U.S. this year.
The two companies are joining forces to create biomedical products and services to support drug discovery, which is the process of finding new candidate medications.
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