# SiccaNova Therapeutics Co.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/siccanova-therapeutics-co

- Industry: Biotechnology
- Headquarters: Tsukuba, Japan
- Website: www.siccanova.com
- Total disclosed funding: $7.8M
- Latest round: Series A (Sep 3, 2026)
- Investors on record: 6

## About

Founded in 2022 and based in Ibaraki, Japan, SiccaNova Therapeutics Co., Ltd, formerly known as ASAHI Pharma Co., Ltd., a biotechnology firm dedicated to the research and development of pharmaceuticals for medical conditions associated with dryness, such as dry mouth and dry eye. The company specializes in creating small-molecule therapeutics designed to meet unmet medical needs and is focused on developing pharmaceutical solutions for dryness-related ailments, particularly its drug candidate XF8302, which aims to treat dry mouth by enhancing M3 receptor activity. In September 2026, SiccaNova Therapeutics Co., Ltd raised JPY 1.25 billion in series A funding JIC Venture Growth Investments, MPower, Red Capital, 77 Capital, Joyo Capital Partners and TOHOKU University Venture Partners.

ASAHI Pharma specializes in the development and commercialization of novel pharmaceuticals that address unmet medical needs, particularly those compounds that large pharmaceutical companies have discontinued for strategic or economic reasons. The company aims to verify additional efficacy for these compounds and establish partnerships to facilitate their development, generating new therapeutic applications. By leveraging expertise in pharmacological mechanisms and pathological changes, ASAHI Pharma identifies appropriate clinical indications tailored to specific markets and regions, offering patients valuable treatment options. The company seeks to penetrate global markets, although specific regions for distribution are not detailed.ASAHI Pharma's revenue generation model primarily revolves around strategic partnerships and collaborations, particularly with research institutions like Tohoku University. The company engages in direct collaborations for the clinical trial preparations of its pharmaceutical candidates, expediting the development process. Revenue transactions are structured through partnerships rather than traditional retail or consumer sales, indicating a B2B approach to commercialization. Their pricing structures may involve milestone payments and shared royalties from successful drug development and commercialization, focusing on the strategic nature of their business relationships and development processes.

The company plans to use the September 2026 funding for clinical development of XF8302 and expansion of R&D and operational capabilities.

## Funding rounds

- Series A, Sep 3, 2026, $7.8M — Joyo Capital Partners, TOHOKU University Venture Partners, 77 Capital, JIC Venture Growth Investments, MPower, Red Capital

## Investors

- Joyo Capital Partners (https://capitalatlas.ai/funds/joyo-capital-partners) — Series A
- TOHOKU University Venture Partners (https://capitalatlas.ai/funds/tohoku-university-venture-partners) — Series A
- 77 Capital — Series A
- JIC Venture Growth Investments (https://capitalatlas.ai/funds/jic-venture-growth-investments) — Series A
- MPower (https://capitalatlas.ai/funds/mpower) — Series A
- Red Capital (https://capitalatlas.ai/funds/red-capital) — Series A