Japan’s SMBC invests in biotechnology fund

ANV aims to create global biotech companies of Japanese origin.

Sumitomo Mitsui Banking Corporation (SMBC) has entered into an investment agreement in AN Ventures Partners, a fund that invests in the biotechnology field.

The fund is run by ANV Management, LLC, which was established in 2022 with the aim of creating global biotechnology companies from universities, research institutions, and companies in Japan.

In the medium term, ANV aims for technology and capital cultivated through social implementation in the US to be returned to the biotechnology ecosystem in Japan, according to the press release.

Through an alliance with ARCH Venture Partners, a venture capital firm, ANV reportedly provides access to the US startup ecosystem.

In a statement, SMBC noted that the drug discovery industry is positioned as a growth industry by the Japanese government, and expects more private investment into startup companies involved in biopharmaceuticals.