TLDR:
- Samsung C&T, along with its subsidiaries, investing $52.2 million in a U.S. biotech fund managed by Flagship Pioneering.
- The investment will allow access to promising bioplatform companies for potential additional investments.
Samsung C&T, Samsung Biologics, and Samsung Bioepis are set to invest $52.2 million into a U.S. fund that focuses on promising bioplatform companies. The investment will be directed towards Flagship Pioneering Fund VIII, managed by the U.S.-based biotech investment firm Flagship Pioneering. This move aligns with Samsung C&T’s strategy of investing in bio and healthcare for sustainable growth. The investment will be made through the Samsung Life Science Fund II, created in collaboration with Samsung Venture Investment.
Flagship Pioneering, established in 2000 with $14.1 billion in assets under management, is known for its investments in companies like Moderna, the producer of the COVID-19 vaccine. Samsung has previously invested in a Flagship Pioneering company, Senda Bioscience, and has established a strategic partnership with them. This investment sets the stage for potential future investments in innovative technologies that could have a significant impact on the healthcare industry.
Overall, Samsung’s investment in the U.S. biotech venture capital firm signals its commitment to staying at the forefront of technological advancements in the healthcare sector and its dedication to long-term growth and innovation.
