Samsung eyes biotech investments via Flagship Pioneering

Samsung C&T Corp., Samsung Biologics Co. and Samsung Bioepis Co. will ramp up investments in US biotechnology startups in collaboration with Flagship Pioneering, a US venture capital firm, Samsung C&T said on Tuesday.

Samsung C&T has signed a memorandum of understanding with Flagship Pioneering. Under the agreement, the investment firm will tap the second life science fund launched by the three Samsung companies for future investments, while its portfolio companies collaborate with Samsung Group arms.

The fund size has not been disclosed.

“We look forward to expanding early investment opportunities in future biotechnology companies that change the world,” Kim Jaywoo, executive vice president at Samsung C&T, said in a statement.

In August 2022, Samsung invested $150 million in Senda Biosciences, a portfolio company of Flagship Pioneering, via its first life science fund.

“Through this collaboration, Samsung will work alongside Flagship-founded companies, leveraging Samsung’s leading technologies and capabilities to accelerate first and best-in-class therapies,” Flagship Pioneering said in a separate statement.

They will team up to develop translational medicine and access to high-quality clinical samples, while leveraging Samsung’s clinical trials infrastructure.

“The collaboration between Samsung and Flagship leverages the expertise of both organizations in the areas of life science technology, artificial intelligence, and CDMO services and extends across Flagship’s ecosystem of companies,” Flagship Pioneering added.

CDMO stands for a contract development and manufacturing organization.

Flagship Pioneering has invested in 165 companies. In 2010, it established Moderna Inc., which has developed a COVID-19 vaccine.

Samsung Biologics, a CDMO, has produced the Moderna COVID-19 vaccine since October 2021.

“We look forward to seeing the accelerating effect of Samsung’s various technical expertise and extensive commercial capabilities on the future innovations Flagship and its ecosystem of companies will bring to market,” Samsung’s Kim was quoted as saying in the Flagship statement.

Write to Jeong Min Nam at peux@hankyung.com
 

Yeonhee Kim edited this article.