Japan’s SMBC joins JV to support drug discovery start-ups

The bank will own 33.2% of the JV company, which will be established mid-2024.

Sumitomo Mitsui Banking Corporation (SMBC) has entered into an agreement with Takeda Pharmaceutical Company and Astellas Pharma to establish a joint venture (JV) to support early drug discovery programs.

The JV, with the name yet to be determined, aims to create high caliber start-up companies in Japan, with the goal of incubating “globally competitive drug discovery technology and fostering entrepreneurship,” the three companies said in a joint press release.

ALSO READ: Japan’s SMBC opens a branch in India’s GIFT City

SMBC will own 33.2% of the JV, whilst Takeda and Astellas will own 33.4% each.

The JV is expected to be established in mid-2024, with a starting capital of approximately JPY600m.

Toshio Fujimoto, who is currently the president and representative director of the iPark Institute Co. Ltd, will serve as CEO of the JV. The JV will also be headquartered on Shonan Health Innovation Park at Fujisawa, Kanagawa, Japan.

Follow the link for more news on

Sumitomo Mitsui Banking Corporation

Also Read

Japanese banks back fund to develop space industry

Thailand’s central bank appoints three new senior roles

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit