TLDR:
- Samsung C&T Corp., Samsung Biologics Co., and Samsung Bioepis Co. will invest in US biotechnology startups through their second life science fund, in collaboration with Flagship Pioneering.
- The three Samsung companies have signed a memorandum of understanding with Flagship Pioneering, a US venture capital firm.
- The collaboration aims to accelerate the development of first-class therapies by leveraging Samsung’s leading technologies and capabilities, as well as Flagship Pioneering’s expertise in life science technology, artificial intelligence, and CDMO services.
Three Samsung Group units, including Samsung C&T Corp., Samsung Biologics Co., and Samsung Bioepis Co., have announced plans to invest in US biotechnology startups through their second life science fund. The investments will be made in collaboration with Flagship Pioneering, a US venture capital firm. The specific size of the fund has not been disclosed.
The partnership will allow Flagship Pioneering’s portfolio companies to collaborate with Samsung Group arms, while the investment firm taps into Samsung’s expertise and capabilities to accelerate the development of first-class therapies. The collaboration will focus on translational medicine and access to high-quality clinical samples, with the aim of leveraging Samsung’s clinical trials infrastructure.
Flagship Pioneering has a history of successful investments, having invested in 165 companies to date. In 2010, the firm established Moderna Inc., which has developed a COVID-19 vaccine. Notably, Samsung Biologics, a contract development and manufacturing organization (CDMO), has been producing the Moderna COVID-19 vaccine since October 2021.
By expanding early investment opportunities in future biotechnology companies, Samsung aims to contribute to the development and advancement of the biotech industry. The collaboration between Samsung and Flagship Pioneering is expected to leverage innovative technologies, including life science technology and artificial intelligence, to bring new healthcare solutions to the market.
The announcement of the collaboration comes after Samsung’s previous investment of $150 million in Senda Biosciences, a portfolio company of Flagship Pioneering, through its first life science fund in August 2022. The latest collaboration further solidifies the partnership between Samsung Group and Flagship Pioneering, and marks a significant step towards advancing biotech innovation.
Source: Hankyung
