TLDR:
- Samsung C&T Corp. and its bio units invest $52 million in US biotech VC Flagship Pioneering
- The investment focuses on global biotechs with innovative technologies, using AI and machine learning
Samsung C&T Corp., along with its bio units Samsung Biologics Co. and Samsung Bioepis Co. and Samsung Venture Investment Corp., have committed $52.2 million to US venture capital firm Flagship Pioneering Inc.’s fund. The fund, named Flagship Pioneering Fund VIII, is a $2.6 billion investment vehicle that will concentrate on the development of new transformative biomedical platforms using tools such as artificial intelligence and machine learning. The Samsung Group affiliates will gain access to information on companies founded by the Flagship Pioneering fund, paving the way for additional investments in these firms.
Flagship Pioneering has a strong track record, having founded more than 100 biotechs including Moderna Inc., the developer of the COVID-19 vaccine. The Samsung affiliates’ commitment to this investment follows a previous $150 million investment in Flagship Pioneering’s portfolio company Senda Biosciences Inc. Through this new investment, Samsung C&T plans to align with their mid-term growth strategy in the bio and healthcare sectors. This move signifies Samsung’s focus on sustainable growth engines as they step into the life sciences industry.
This investment not only highlights Samsung’s strategic shift towards biotechnology and healthcare, but also demonstrates their long-term commitment to innovation and technology in these sectors. By partnering with Flagship Pioneering, Samsung is positioning itself as a key player in the global biotech landscape, leveraging cutting-edge technologies to drive growth and development in the industry.
