TLDR:
- Samsung Life Science Fund, along with Samsung C&T subsidiaries, invest in Flagship Pioneering’s 8th fund valued at $52.1 million.
- Flagship Pioneering is a renowned venture capital firm specializing in life sciences, known for creating successful biotech companies like Moderna.
Samsung C&T, along with its subsidiaries Samsung Biologics and Samsung Bioepis, have announced a significant investment in Flagship Pioneering’s eighth fund through their jointly established Life Sciences Fund II. The investment, valued at 72 billion won ($52.1 million), aims to support Flagship Pioneering’s unique approach to creating and nurturing new biotech companies. Flagship Pioneering, founded in 2000, is a top global venture capital firm with approximately 19 trillion won in assets under management. The firm is recognized for its successful track record of founding over 100 companies, including Moderna, known for its mRNA Covid-19 vaccine.
The newly established Flagship Pioneering Fund VIII, with a total scale of $2.6 billion, will focus on investments in AI-based drug development platforms and other cutting-edge technologies. Samsung C&T did not disclose the exact amount of its investment in the fund but mentioned that it will provide access to emerging life sciences companies identified by Flagship Pioneering, opening up potential further investment opportunities in the biotech and healthcare sectors. This investment comes after Samsung’s Life Sciences Fund I invested $15 million in a Flagship Pioneering portfolio company in August 2022.
Samsung is actively looking to identify next-generation technologies in the biotech field, focusing on eco-friendly energy and biotechnology. The investment in Flagship Pioneering Fund VIII is part of Samsung’s strategic effort to discover innovative technologies beyond existing diagnostic and treatment methods. Flagship Pioneering Chair of Asia Pacific and Senior Advisor, André Andonian, expressed confidence in the fund management capabilities of Flagship Pioneering, highlighting the market’s support for the firm’s expertise in founding and nurturing technology companies.
