What FunPep does

FunPep Co., Ltd. (株式会社ファンペップ) is a Japanese clinical-stage biotechnology company founded on October 11, 2013 as a spin-off from Osaka University Graduate School of Medicine, headquartered in the Saito biotech cluster of Ibaraki, Osaka, with a Tokyo office and a research center co-located at Osaka University in Suita. The company is listed on the Tokyo Stock Exchange Growth Market (ticker 4881) since December 25, 2020. FunPep develops functional peptides and antibody-inducing peptides (therapeutic vaccines) for pharmaceutical and cosmetic applications, originating from the discovery of AG30, a 30-amino-acid angiogenic/antimicrobial peptide.

The company's core technology is the STEP UP (Search Technology of EPitope for Unique Peptide vaccine) platform, which combines the proprietary AJP001 carrier peptide with optimized B-cell epitopes to induce sustained in vivo antibody production against self-proteins without requiring external adjuvants. The clinical pipeline includes SR-0379 (a 20-amino-acid AG30-derived peptide in Phase III for skin ulcers, licensed to Shionogi), FPP003 (anti-IL-17A antibody-inducing peptide for psoriasis/ankylosing spondylitis, Phase I/IIa completed in Australia with ~78% antibody positive rate, optioned to Sumitomo Pharma), FPP004X (anti-IgE antibody-inducing peptide for pollen allergy, Phase I commenced Feb 2025, optioned to Shionogi), FPP005 (anti-IL-23 peptide, preclinical), and an early Alzheimer's anti-phosphorylated-tau program with Osaka University. Cosmetic applications include OSK9 and AAP short peptides (anti-aging), supplied to Albion for the 'Infinity' skincare line, and Curepeptin antimicrobial peptide.

FunPep operates a licensing-driven business model, monetizing pipeline assets via upfront payments, development milestones, and royalties from pharmaceutical partners (Shionogi, Sumitomo Pharma) while also receiving R&D funding from MEDIPAL HOLDINGS and government grants from AMED and NEDO. Cosmetics ingredient supply to Albion and shareholder-benefit peptide products via subsidiary FunPep Healthcare provide modest direct revenue. The company is pre-profitability and reinvests all earnings into R&D with no current dividend. Strategic activity in 2025-2026 includes new collaborations with BIOASTER (in vitro antibody assay, Mar 2025), Crafton Biotechnology (mRNA vaccines, Jun 2026), and artience/Toyo Kasei (transdermal formulations, Jun 2026), extending the platform beyond standalone peptides.

Name

FunPep

Legal name

株式会社ファンペップ (FunPep Co., Ltd.)

Website

https://funpep.co.jp

Company type

Public

Founded year

2013

Operating status

Operating

Headcount range

11–50 employees

Short description

FunPep is a Japanese clinical-stage biotech (TSE Growth: 4881) developing functional and antibody-inducing peptides for chronic diseases and cosmetics. Originating from Osaka University, it licenses pipeline assets (SR-0379, FPP003, FPP004X) to Shionogi and Sumitomo Pharma while supplying peptide ingredients to Albion.

Ownership category

akta.pro rank

Product category

Peptide Therapeutics

NAICS

Biological Product (except Diagnostic) Manufacturing (325414), Pharmaceutical Preparation Manufacturing (325412)

SIC

Pharmaceutical Preparations (2834), Biological Products, (No Disgnostic Substances) (2836)

akta.pro primary industry

Therapeutic Peptides & Protein/Peptide Biologics (HLAAAAAH)

akta.pro secondary industries

Antibody Discovery & Engineering Platforms (display tech, bispecifics, Fc engineering) (HLAAAIAB), Immunology & Autoimmune Specialty Pharmaceuticals (HLAIACAB), Amino Acids & Peptides (BCAAs, Collagen Peptides, Bioactive Peptides, L-Theanine) (AFAJAKAG)

Keywords

• Peptide drug discovery
• Therapeutic peptide vaccines
• Antibody-inducing peptides
• Functional peptide cosmetics
• Biopharmaceutical licensing

Headquarters

HQ city

Tokyo

HQ country

Japan

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Licensing and Royalty Revenue: Core revenue model: license pipeline compounds (SR-0379, FPP003, FPP004X, FPP005) to pharmaceutical companies in exchange for upfront payments, development milestones, and ongoing royalties on sales. FunPep has licensed SR-0379 to Shionogi and holds option agreements with Sumitomo Pharma (FPP003) and Shionogi (FPP004X).
2. R&D Funding and Support Agreements: FunPep receives R&D funding and upfront payments from alliance partners (MEDIPAL HOLDINGS, Shionogi, Sumitomo Pharma) to support antibody-inducing peptide research and pipeline expansion.
3. Cosmetics Ingredient Sales: Sale of functional peptide ingredients (OSK9, AAP) to cosmetics manufacturers. OSK9 is supplied to Albion for their 'Infinity' skincare series. Also subsidiary FunPep Healthcare sells peptide-based products.
4. Government Grants and Subsidies: FunPep receives competitive research funding from government agencies including AMED (Japan Agency for Medical Research and Development) and NEDO (New Energy and Industrial Technology Development Organization) for orphan disease programs, peptide vaccine research, and translational research.

Go-to-market motion3 records

Distribution channels3 records

Marketing channels5 records

Core offering

FunPep develops and licenses proprietary functional peptides and antibody-inducing peptides (therapeutic vaccines) for pharmaceutical and cosmetic applications. Its pipeline includes clinical-stage drug candidates for skin ulcers (SR-0379, Phase III), psoriasis (FPP003, Phase I/IIa completed), pollen allergy (FPP004X, Phase I commenced February 2025), and inflammatory diseases (FPP005, preclinical), along with cosmetic peptide ingredients supplied to manufacturers like Albion. The company licenses compounds to pharmaceutical partners (Shionogi, Sumitomo Pharma) in exchange for upfront payments, milestones, and royalties.

Product overview

FunPep is an Osaka University spin-off biotech company developing functional peptides and antibody-inducing peptides (therapeutic vaccines) for pharmaceuticals and cosmetics. The core technology is built on the AG30 peptide discovery, from which multiple products have been derived: SR-0379 is a wound-healing functional peptide for skin ulcers; FPP003, FPP004X, and FPP005 are antibody-inducing peptides targeting IL-17A, IgE, and IL-23 respectively for chronic diseases; Curepeptin and OSK9/AAP are peptides for cosmetic applications. The company operates the STEP UP drug discovery platform utilizing AJP001 to create novel antibody-inducing peptides as long-acting therapeutic vaccines. Products span pharmaceuticals (SR-0379 in Phase III, FPP003 in Phase I/IIa, FPP004X in clinical trials) and cosmetics (Curepeptin, OSK9 peptide in Albion's Unfiction line).

Differentiator

Problem solved

Functional benefit

Brands

• SR-0379: Functional peptide drug candidate for skin ulcers (pressure ulcers, diabetic ulcers, leg ulcers) - 20 amino acid peptide with angiogenesis and antimicrobial activity
• FPP003
• FPP004X
• FPP005
• Curepeptin (キュアぺプチン)
• OSK9/AAP
• AJP001

Products and services

• SR-0379 A 20-amino-acid functional peptide derived from AG30 for treatment of skin ulcers (pressure ulcers, diabetic ulcers, leg ulcers), combining angiogenesis and granulation tissue formation with antimicrobial activity, administered as a room-temperature-stable spray. Licensed to Shionogi for joint development in Japan.
• FPP003 An anti-IL-17A antibody-inducing peptide (therapeutic vaccine) for treating psoriasis and ankylosing spondylitis, inducing sustained antibody production against IL-17A to suppress chronic inflammation with longer dosing intervals than existing antibody drugs. Phase I/IIa completed in Australia showing approximately 78% positive anti-IL-17A antibody rate.
• FPP004X

Quantifiable outcome

• FPP003 Phase I/IIa clinical trial: ~78% (7/9) positive anti-IL-17A antibody rate at highest dose cohort (15mg) at Day 60, sustained through Day 120 observation end.
• +2 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature9 records

Partnerships

Nine partnerships are on record, tiered core and minor.

• artience Corporation / Toyo Kasei Co., Ltd.coreStrategic or Co-development Partner · 9 June 2026Joint research agreement for development of transdermal absorption formulations of antibody-inducing peptides. FunPep is conducting pharmacological efficacy and safety evaluation in animal studies while Toyo Kamei (part of artience Group) is responsible for transdermal formulation development leveraging their polymer technology, coating expertise, and CDMO capabilities in medical and healthcare fields.
• Crafton Biotechnology Co., Ltd.coreStrategic or Co-development Partner · 1 June 2026Joint research agreement between FunPep and Crafton Biotechnology (Nagoya University/Tokyo University of Science-based biotech) to develop therapeutic mRNA vaccines combining FunPep's antibody-inducing peptide technology with Crafton's proprietary mRNA technology including PureCap® capping technology. FunPep is responsible for efficacy evaluation while Crafton handles mRNA synthesis. The collaboration aims to create novel therapeutic mRNA vaccines leveraging both platforms.
• BIOASTERcoreStrategic or Co-development Partner · 31 March 2025Master agreement signed between FunPep and BIOASTER (French Technology Research Institute dedicated to microbiology and infectious diseases) to collaborate on optimizing an in vitro assay for antibody production against FunPep's therapeutic vaccine candidates. The partnership leverages BIOASTER's expertise in vaccine and immunology assay development to predict antibody production in humans at the in vitro stage, supporting evaluation of FunPep's pipeline candidates across individuals with different HLA molecules. Both organizations are investing resources and expertise toward shared goals in immunology and therapeutic vaccines.
• Shionogi & Co., Ltd.coreStrategic or Co-development Partner · 4 March 2024Option agreement signed in March 2024 granting Shionogi an exclusive option to acquire worldwide exclusive research, development, and commercialization rights for FPP004X (anti-IgE antibody-inducing peptide for pollen allergy) across all diseases. Shionogi also holds a licensing agreement with FunPep for SR-0379 (functional peptide for skin ulcers) with joint development in Japan.
• Osaka University Graduate School of Medicine (Department of Clinical Gene Therapy)minorStrategic or Co-development Partner · 27 November 2023Joint research on Alzheimer's disease vaccine targeting phosphorylated tau protein. The research group led by Associate Professor Shuko Takeda identified a tau molecular species that mediates tau propagation in Alzheimer's disease brains. FunPep contributes its antibody-inducing peptide technology to develop anti-phosphorylated tau peptides that inhibit tau propagation.
• Sumitomo Pharma Co., Ltd.coreStrategic or Co-development Partner · 9 April 2018Option agreement with Sumitomo Pharma for exclusive development and commercialization rights to FPP003 (anti-IL-17A antibody-inducing peptide for psoriasis and ankylosing spondylitis) in North America. Sumitomo Pharma holds preferential negotiating rights for regions outside North America, including Japan. The collaboration was initiated following joint research beginning in 2016 with Sumitomo Dainippon Pharma (now Sumitomo Pharma).
• MEDIPAL HOLDINGS CORPORATIONcoreStrategic or Co-development Partner · 12 February 2016Alliance agreement entered in February 2016 for R&D support of antibody-inducing peptide projects. MEDIPAL provides upfront payment and 3-year R&D funding to FunPep for researching antibody-inducing peptides against various target proteins to build the R&D pipeline. In return, MEDIPAL receives a percentage of upfront and milestone payments FunPep receives from pharmaceutical companies licensing selected products, plus preferential negotiating rights for wholesale sales in Japan.
• Osaka University Graduate School of MedicinecoreStrategic or Co-development PartnerOngoing joint research collaborations with Osaka University across multiple antibody-inducing peptide programs. Key collaborators include Prof. Hironori Nakagami (functional peptide research) and the Department of Clinical Gene Therapy (Alzheimer's disease vaccine research). Technology for design, discovery, and optimization of functional peptides was established at Osaka University and licensed to FunPep.
• FunPep Healthcare Co., Ltd.coreOthersWholly-owned subsidiary of FunPep Co., Ltd. focused on R&D and sales of functional peptides in the cosmetics field. Located at the same address as the parent company in Ibaraki, Osaka. Sells peptide-based cosmetic products and holds the trademark for AAP (Double-A Peptide).

Scale indicators6 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• PeptiDream Inc. Tokyo-based clinical-stage peptide drug discovery company using a proprietary Peptide Discovery Platform System. Directly comparable as a Japanese-listed peptide biotech with platform technology and pharma partnerships, though PeptiDream is larger and at a more advanced commercial stage.
• AnGes, Inc. Japanese clinical-stage biotech developing DNA vaccines, gene therapies, and biologics. Comparable as a small Japanese clinical-stage biotech listed on TSE with similar development profile and partnership-driven commercialization; multiple FunPep board members/alumni come from AnGes.
• Delta-Fly Pharma, Inc. Japanese clinical-stage oncology biotech with small headcount and TSE listing. Comparable as a similarly sized clinical-stage Japanese biotech; FunPep's CFO Taketoshi Hayashi previously served as Director at Delta-Fly Pharma.
• SymBio Pharmaceuticals Limited: Japanese specialty pharma focused on hematology/oncology and other niche indications. Comparable as a small Japanese specialty pharma with partnership-driven commercialization; FunPep's Full-time Corporate Auditor was previously Director at SymBio.
• CanBas Corporation: Japanese clinical-stage oncology biotech. Comparable as a small Japanese clinical-stage biotech; FunPep's CFO Taketoshi Hayashi previously served as CFO at CanBas.
• Solasia Pharma K.K. Japanese specialty pharma developing oncology and supportive-care products. Comparable as a small Japanese specialty pharma with licensing/partnering business model; FunPep board director Norikazu Eiki also serves as Director at Solasia.
• Bicycle Therapeutics plc: Clinical-stage biotech developing bicyclic peptide therapeutics (Bicycles) for oncology and rare diseases. Comparable as a peptide-platform biotech with similar modality strategy of using constrained peptides to address targets typically served by antibodies.

Emerging players

• Protagonist Therapeutics, Inc. Clinical-stage biotech developing peptide-based therapeutics, including for immunology indications (e.g., IL-17/IL-23 pathway assets) and hematology. Comparable as a peptide-focused company developing alternatives to antibody drugs for chronic inflammatory diseases overlapping with FunPep's FPP003/FPP005.

Broad incumbents

• Shionogi & Co., Ltd. Major Japanese pharmaceutical company; FunPep's licensing partner for SR-0379 and option holder for FPP004X. Comparable as the incumbent Japanese pharma partner whose commercial reach will determine FunPep's royalty trajectory for key assets.
• Sumitomo Pharma Co., Ltd. Major Japanese pharmaceutical company; option agreement holder for FunPep's FPP003 in North America. Comparable as the incumbent pharma partner whose commercial decisions gate FunPep's North America pipeline value.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries1 record

Funding overview

Funding rounds10 records

Investors21 records

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M&A1 record

Investments

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Frequently asked questions about FunPep