Seoul, Korea, July 11, 2024 – Samsung C&T Corporation, Samsung Biologics, Samsung Bioepis and Samsung Venture Investment Corporation (collectively hereinafter referred to as “Samsung”) announced today an investment into Flagship Pioneering Fund VIII (“Fund VIII”) to help fuel breakthrough innovations in human health and sustainability.
In addition to the strategic partnership that Flagship Pioneering (hereinafter referred to as “Flagship”) and Samsung announced last January, the investment into Flagship Pioneering Fund VIII shows Samsung’s dedication to future growth in Life Science fields by seeking new business opportunities based on revolutionary bio technologies.
Key Highlights of the Investment:
• Investment on Fund VIII: Fund VIII will originate and develop new transformative bioplatform companies leveraging novel tools such as artificial intelligence and machine learning and enabling technologies aimed at satisfying unmet medical needs.
• Additional Investment option: Samsung will gain access to Fund VIII-founded companies and will consider additional investment in each of them, where appropriate.
“Samsung C&T stepped into the life sciences industry by investing in biologics CDMO business in 2011. Samsung C&T, a major shareholder of Samsung Biologics which has Samsung Bioepis as a 100% owned subsidiary, has chosen bio/healthcare areas as a sustainable growth engine and the investment in the Flagship Pioneering Fund VIII perfectly matches our mid-term growth strategy,” said Jaywoo Kim, executive vice president, Samsung C&T Corporation. “We look forward to having more investment opportunities in future technologies that go beyond the limitations of conventional healthcare and ultimately change the world.”
“This raise demonstrates investor commitment to Flagship’s pioneering science and unique company creation process,” said Andre Andonian, Chair of Asia Pacific, Flagship Pioneering. “Fund VIII will be used to establish and foster breakthrough bioplatform companies, where Flagship has its strength and proven record.”
