On November 15, 2018, Mitsui & Co., Ltd. ("Mitsui", Head Office: Tokyo, President and Chief Executive Officer: Tatsuo Yasunaga) and Preferred Networks, Inc. ("PFN", Head Office: Tokyo, President & Chief Executive Officer: Toru Nishikawa) entered into an agreement to establish a new joint venture in the United States to commercialize biomedical/healthcare solutions based on deep learning technology. The Chief Executive Officer of the new joint venture will be Nobuyuki Ota, the Chief Operating Officer of Preferred Networks America, Inc.
In recent years, deep learning technology has made significant progress in providing innovation across various industries. These innovations have been notably recognized in the fields of biomedical/healthcare, through applications in drug discovery, diagnostics and treatment, and other related areas.
The global market for deep learning based biomedical/healthcare solutions is expected to grow continuously. PFN has set cancer diagnosis as one of its key focus areas, and by combining PFN's technology in cancer diagnosis with Mitsui's network in the healthcare field, including hospital groups, related assets, as well as business partners, the joint venture aims to accelerate the development of the business, and implementation of the technology into society.
Upon the establishment of the joint venture, Mitsui and PFN will accelerate research and development of deep learning based biomedical/healthcare solutions for the early detection of cancer, aiming to resolve societal issues.