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Kubota Pharma, SBI Holdings form joint venture

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Kubota Pharmaceutical Holdings Co. Ltd. and SBI Holdings Inc. have signed a non-binding letter of intent to join in creating a venture that will organize and manage entities to develop ophthalmic drugs and devices, according to a company press release.

The agreement says Kubota Pharma will fund 51% of the joint venture, while SBI will fund the remaining 49%.

In addition, the two will negotiate a separate agreement to establish and fund their first entity, focusing on mobile health care ophthalmic applications, the release said.