About us

What Made You Beyond Academia and Led You to iCONM with BioLabs?

Interviewee (left): Yuji Otsuki (CEO of FerroptoCure Inc.) and Interviewer (right): Hiroshi Atsumi (iCONM with BioLabs)

Choosing where to build a research operation is one of the most defining decisions for any drug discovery startup. For many scientist-founders, deciding whether to stay within academia or take the leap into an external incubator is not always easy. Yuji Otsuki, a founder of FerroptoCure Inc., which translates ferroptosis research into therapies for cancer, Alzheimer’s disease, and other conditions, faced the same crossroads. What ultimately led him to leave the university environment and select iCONM with BioLabs as his base? Behind the decision were early-stage uncertainties, new perspectives gained from stepping outside academia, and a growing conviction that “this is where we can truly grow.”

“Everything started with a meeting at HVC Kyoto”

Atsumi: I believe we first met at HVC Kyoto (the Healthcare Venture Conference). It was at the very end of a long day full of back-to-back meetings. To be honest, you were so quiet during the conversation that I remember wondering, “Is he actually taking this in?”

Otsuki: I really had no bandwidth left at that point. It was only two months after we founded the company. I barely knew what “incubation” even meant. Rather than trying to fully understand what you were explaining, I was just struggling to process the situation itself.

Atsumi: Then you followed up with a really thoughtful email afterward, and I remember thinking, “Oh, he was listening!”

Otsuki: Your comments stuck with me. Around that time, I had begun seriously considering whether we needed to step outside the university. That meeting was the push I needed. Without it, I doubt I would have made the same decision.

Why he felt the need to move beyond the university

Atsumi: University-based startups often place their labs on campus in the early days. What prompted you to start looking for an external incubator?

Otsuki: There are two major reasons. First, inside academia, you’re shielded from the speed of business. Researchers naturally operate under the mindset that “if the data is good, that’s enough.” But as a startup, you can’t progress without interacting with the business world.

Atsumi: And being in academia makes VCs feel far away, doesn’t it?

Otsuki: Exactly. Of our founding team of five, the only one with startup experience was Dr. Nobuhiro Nishiyama. The rest of us were operating completely under “university logic.” We needed exposure to the pace and expectations of the outside world. The second reason was the constraints unique to universities such as IP procedures, rules around equipment usage, and administrative limitations. These are unavoidable in academia, but I simply couldn’t imagine staying in that environment long-term after founding a company.

Why iCONM with BioLabs?: “the people” and “the environment”

Atsumi: You toured several other incubators before deciding. What ultimately made you choose iCONM with BioLabs?

Otsuki: Honestly, the biggest factor was… you, Atsumi-san.

Atsumi: I’m honored to hear that.

Otsuki: I really mean it. If you had been “a former researcher now working as an incubation officer,” I probably wouldn’t have chosen this place. Knowing you had VC experience and that you could advise us from an external, investor-oriented perspective gave me a level of confidence I didn’t expect.

Atsumi: Thank you. Were there other elements that matter?

Otsuki: Definitely. The shared equipment is exceptionally well-equipped. Having access to facilities for animal studies was another big plus. And then there’s a location close to Tokyo. In the early stage, you meet with VCs constantly. Considering where our researchers live as well, minimizing travel stress makes a real difference.

What surprised him after moving in: “the unexpected sense of community”

Atsumi: Once you moved in, was anything different from what you had expected?

Otsuki: The equipment and operational support were exactly as expected. What surprised me was how quickly the number of tenant companies grew, and how that created a real community. In the beginning, it was often just me, our two researchers, and you.

Atsumi: Yes, the early days were pretty quiet.

Otsuki: Now, we talk with other companies about research ideas, exchange advice, and get input on challenges. That kind of lateral connection simply wasn’t something I imagined before moving in.

What kind of startups fit this place?

Atsumi: Who do you think iCONM with BioLabs is best suited for?

Otsuki: In short, startups that have global aspirations. When I visited Boston, people would say, “Oh, you’re in BioLabs!,” and conversations moved much more smoothly. The brand carries weight.

Atsumi: Overseas VCs especially react that way.

Otsuki: Also, I think companies should have at least one grant secured before joining. If you come in with zero funding, you won’t be able to make full use of the environment. You need a minimum operational foundation.

A message for startups searching for a lab: the “real advice”

Atsumi: Lastly, do you have a message for startups currently looking for a lab?

Otsuki: Yes, first and foremost, don’t choose based on price alone. Animal facilities, the quality of shared instruments, how flexible the rules are, how close you are to the staff, and actually labs differ dramatically. You really need to visit multiple places firsthand.

Atsumi: You learn so much more once you actually see space.

Otsuki: Exactly. iCONM with BioLabs is a place where “everything you need is here.” For the right teams, it’s a great fit. But every lab has its own character. It’s important to understand what your project truly requires and choose accordingly.

The team at FerroptoCure Inc.