Catalys Pacific

What Catalys Pacific does

Catalys Pacific is an independent venture capital and company creation firm focused on early-stage life sciences, founded in 2019 by BT Slingsby, MD, PhD, MPH. The firm operates a transpacific Japan-US partnership model, using its on-the-ground presence in Tokyo and San Diego to identify promising clinical and commercial-stage assets from Japanese pharmaceutical companies and create new venture-backed biotech companies to develop them globally. Since founding, Catalys Pacific has created 12+ portfolio companies spanning therapeutic areas including hypertension (Mineralys), nephrology (Renalys, Pathalys), CNS (Aculys), gastroenterology (Phathom), gout (Crystalys), liver disease (Hepalys), oncology (Kirilys), autoimmune neuropsychiatric disease (Arialys), vaccines (HilleVax), and neurodegenerative disease (Transposon).

The firm's portfolio companies are built around specific in-licensed assets sourced from Japanese and global pharma partners including Mitsubishi Tanabe, Astellas, EA Pharma, Bioprojet, Fuji Yakuhin, and Inventiva. Catalys Pacific provides initial funding, operational leadership, and syndicate formation, drawing on a team that combines physician-scientists, former pharma operators, and senior investment bankers. Notable portfolio outcomes include three NASDAQ IPOs (Mineralys:MLYS, Phathom, HilleVax), strategic acquisitions by Viatris (Aculys) and Chugai/Roche (Renalys for $98M upfront), multiple FDA approvals including VOQUEZNA for GERD, and FDA designations across TPN-101, ART5803, and sparsentan.

Catalys Pacific's revenue model is venture capital-style: the firm generates returns through equity ownership in the bespoke biotech companies it creates and invests in, with realizations occurring via IPOs and strategic acquisitions. The firm does not sell products or services to end customers and does not publicly disclose fund size, AUM, or financial performance. Its go-to-market relies on direct relationships with Japanese pharmaceutical companies seeking to out-license assets, syndicate relationships with global healthcare investors (Novo Holdings, SR One, MPM Capital, Avalon BioVentures, SoftBank Vision Fund 2, Abingworth, JJDC, HBM Healthcare Investments, Domain Associates), and participation in biotech industry events.

Name

Catalys Pacific

Legal name

Catalys Pacific

Website

https://catalyspacific.com

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

1–10 employees

Short description

Catalys Pacific is an independent venture capital and company creation firm that sources assets from Japanese pharmaceutical companies and builds transpacific Japan-US biotech companies for global development. The firm has created 12+ portfolio companies achieving three NASDAQ IPOs and two strategic acquisitions.

Ownership category

akta.pro rank

Headquarters

HQ city

Tokyo

HQ country

Japan

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales

Revenue model

1. Investment Returns and Company Creation: Catalys Pacific generates returns through equity ownership in portfolio companies it creates and invests in. The firm creates new biotech companies, provides initial funding and operational leadership, and generates returns through successful exits including IPOs and acquisitions.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Catalys Pacific is an independent venture capital firm that creates and develops bespoke biotech companies through transpacific Japan-US partnerships. The firm sources promising therapeutic assets from Japanese pharmaceutical companies, builds new venture-backed companies around these assets, provides initial funding and operational leadership, and generates returns through successful exits including IPOs and strategic acquisitions. The portfolio spans multiple therapeutic areas including hypertension, kidney disease, CNS disorders, autoimmune diseases, gout, liver disease, and gastrointestinal diseases.

Product overview

Catalys Pacific is a venture capital and company creation firm that creates and invests in biotech companies focused on healthcare innovation. Rather than offering a single unified product or platform, Catalys Pacific operates as a portfolio company creator, establishing separate entities for different therapeutic areas and disease targets. The portfolio includes companies across various stages: Mineralys (hypertension treatment, IPO stage), Renalys (kidney disease, acquired by Chugai), Aculys (CNS/neurology, acquired by Viatris), Arialys (autoimmune neuropsychiatric diseases), Crystalys (gout treatment), Hepalys (liver disease/NASH), HilleVax (norovirus vaccine), Kirilys (precision oncology), Pathalys (chronic kidney disease), Phathom Pharmaceuticals (GI/acid disorders, IPO stage), Transposon (neurodegenerative diseases), and Accelys (Japan drug development). Each portfolio company operates independently with its own pipeline, therapeutics, and corporate trajectory.

Differentiator

Problem solved

Functional benefit

Products and services

• Mineralys Therapeutics Clinical-stage biopharmaceutical company committed to developing a novel therapy for the treatment of hypertension with lead product candidate lorundrostat, a highly selective aldosterone synthase inhibitor. Created and invested in by Catalys Pacific and led to IPO on NASDAQ.
• Renalys Pharma Private, late-stage clinical biopharmaceutical company focused on kidney disease therapeutics with lead asset sparsentan, a dual endothelin and angiotensin receptor antagonist developed for IgA nephropathy. Acquired by Chugai Pharmaceutical in 2025 for $98 million upfront.
• Aculys Pharma Biopharmaceutical company focused on CNS therapeutics for the Japan region with lead asset pitolisant, a selective histamine H3 receptor antagonist for narcolepsy and obstructive sleep apnea. Acquired by Viatris.
• Arialys Therapeutics Biotech company developing precision medicines for autoimmune neuropsychiatric diseases with lead therapeutic candidate ART5803 designed to treat anti-NMDA receptor encephalitis by inhibiting pathogenic effects of autoantibodies targeting the NMDA receptor.
• Crystalys Therapeutics Late-stage clinical biopharmaceutical company focused on gout treatment with lead asset Dotinurad, a URAT1 inhibitor approved in Japan and other Asian markets, being developed for global Phase 3 trials.
• Hepalys Pharma Biopharmaceutical company focused on liver disease therapeutics that licensed in lanifibranor, a pan-PPAR agonist in clinical development for NASH (Metabolic dysfunction-Associated SteatoHepatitis), from Inventiva S.A.
• HilleVax Biopharmaceutical company advancing the development of HIL-214, a vaccine candidate for the prevention of norovirus-related acute gastroenteritis in infants.
• Kirilys Therapeutics Multi-asset precision oncology company focused on developing innovative cancer treatments.
• Pathalys Pharma Late-stage clinical biopharmaceutical company addressing unmet needs in end-stage kidney disease with initial asset upacicalcet (PLS240), a novel calcimimetic for secondary hyperparathyroidism, approved in Japan as UPASITA.
• Phathom Pharmaceuticals Biopharmaceutical company focused on gastrointestinal diseases that commercializes VOQUEZNA (vonoprazan), a potassium-competitive acid blocker (PCAB) for erosive GERD, heartburn relief, and H. pylori infection treatment.
• Transposon Therapeutics Biotech company developing innovative treatments for LINE-1 associated neurodegenerative diseases with lead candidate TPN-101, a LINE-1 reverse transcriptase inhibitor being studied for progressive supranuclear palsy and C9orf72-related ALS/FTD.
• Accelys Pharma Pharmaceutical company accelerating drug development and patient access to global medicines in Japan through transpacific partnerships.

Quantifiable outcome

• Multiple successful exits including 3+ IPOs and acquisitions of portfolio companies

Named customers8 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Ten partnerships are on record, tiered core, major and minor.

• Mitsubishi Tanabe Pharma CorporationcoreStrategic or Co-development PartnerSource company for Mineralys Therapeutics. Licensed MLS-101 (lorundrostat) to Mineralys for development in the US. Mitsubishi Tanabe is the source of the aldosterone synthase inhibitor technology.
• Travere TherapeuticscoreStrategic or Co-development PartnerSource company for Renalys Pharma. Licensed sparsentan rights for Japan and Asia to Renalys. Travere developed sparsentan (FILSPARI) for IgA nephropathy in the US.
• EA Pharma Co., Ltd.coreStrategic or Co-development PartnerSource company for Pathalys Pharma. Licensed upacicalcet (PLS240) for development outside Japan and Asia. EA Pharma focuses on gastrointestinal and urinary tract diseases.
• Bioprojet PharmacoreStrategic or Co-development PartnerSource company for Aculys Pharma. Licensed pitolisant for Japan. Bioprojet is a French pharmaceutical company that developed pitolisant for narcolepsy.
• Astellas PharmacoreStrategic or Co-development PartnerSource company for Arialys Therapeutics. Licensed global rights to ART5803 anti-NMDA receptor antibody technology. Astellas sought a partner to out-license the asset.
• Fuji Yakuhin Co., Ltd.coreStrategic or Co-development PartnerSource company for Crystalys Therapeutics. Developed Dotinurad, a URAT1 inhibitor approved in Japan for gout treatment since 2020. Licensed rights outside Japan and Asia to Crystalys.
• Inventiva S.A.coreStrategic or Co-development PartnerSource company for Hepalys Pharma. Licensed lanifibranor, a pan-PPAR agonist for NASH, for Japan and South Korea. Inventiva is a French biotech developing treatments for NASH and other liver diseases.
• DaVita Venture GroupmajorStrategic or Co-development PartnerStrategic partner in Pathalys Pharma alongside Catalys Pacific. DaVita is a leading US kidney care provider, providing development and commercialization advantages.
• Domain AssociatesminorStrategic or Co-development PartnerLaunched Exalys Therapeutics together with Catalys Pacific in 2020 to develop next-generation EP4 antagonists for postoperative delirium and inflammatory disorders.
• Japan Kidney AssociationminorStrategic or Co-development PartnerCollaborative agreement with Renalys Pharma to overcome kidney disease through registry studies and clinical development support in Japan.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Market position

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/catalys-pacific

Revenue estimate

Valuation estimate

Number of profiles

Profiles20 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments14 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Catalys Pacific