On January 5, 1999, Akros Pharma Inc. was established in San Mateo, California. At the time of its inception, Akros was primarily involved in the collecting and providing of information for its parent entity, Japan Tobacco Inc. (“JT”), regarding the pharmaceutical industry and potential partners for collaborative research projects in the U.S.
In 2000, Akros expanded its business functions to encompass both clinical and business development activities and relocated to a new office in Princeton, New Jersey.
JT was originally established in 1898 as a Japanese government bureau (of the Ministry of Finance) in Japan. After privatization in 1985, JT entered the pharmaceuticals sector in 1987 as a part of its corporate diversification program. Since then, it has engaged in highly-innovative drug R&D, both in-house and in collaboration with partners in the U.S., Europe and Japan. JT currently markets pharmaceutical products in Japan through Torii Pharmaceutical Co., Ltd. (“Torii”), acquired by JT in 1998 to strengthen its domestic commercial pharmaceutical operations.
