The Development Bank of Japan (DBJ) has invested in the third fund of British venture capital firm 4BIO Capital.

The London-based company said the fund’s objective is to create and invest in, support, and grow early-stage companies developing treatments in areas of high unmet medical need.

The VC is targeting a fundraise of $200 to 300 million with the aim of completing the fund’s final close in 2024.

“At 4BIO Capital, we strongly believe that advanced therapies and other emerging technologies are the future of healthcare,” said Dmitry Kuzmin, managing partner at 4BIO Capital. “With the support of the Development Bank of Japan and its fantastic track record of successful investment strategy, we are excited to continue supporting and incubating the best science answering key technological and medical unmet needs with 4BIO Ventures III.”

DBJ said its investment in 4BIO Ventures III LP would bring it in touch with the latest overseas advancements in the field of life science, adding that collaboration with the company would help its aim to “revitalise” Japan's life science ecosystem by supporting the expansion of Japanese BioTech ventures overseas and promoting business development by Japanese firms.

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