- Samsung Life Science Fund invests in Generate:Biomedicines, a Flagship Pioneering company leading in AI-enabled protein therapeutics discovery and development
- Investment highlights Samsung's dedication to advancing innovation and creating a robust ecosystem for AI-enabled therapeutic development
INCHEON, South Korea, Dec. 18, 2024 /PRNewswire/ -- Samsung announced today it has invested in Generate: Biomedicines ("Generate") as part of its efforts to drive growth and innovation in the biopharmaceutical sector. The investment was made via the Samsung Life Science Fund, which was created jointly between Samsung Biologics, Samsung C&T, and Samsung Bioepis, and managed by Samsung Venture Investment Corporation. Established in 2021 and worth KRW 240 billion, the fund has invested in biotech companies with promising technologies.
Generate, founded by Flagship Pioneering, is a US-based clinical stage company leading in generative biology. The company applies AI-based optimization and de novo generation to discover and design novel protein therapeutics, and has a robust pipeline of approximately 20 programs from preclinical to clinical development across oncology, immunology, and infectious diseases.
"We see great potential in Generate to develop first- and best-in-class therapeutics," said John Rim, President and CEO of Samsung Biologics. "Leveraging Generate's strengths in AI and machine learning, we look forward to creating an ecosystem for development, manufacturing, and R&D collaboration to advance next-generation medicines in areas with unmet needs."
"Funding from leading partners like Samsung enables us to continue advancing our platform, generating high-quality data, and empowering our exceptional team to tackle some of the toughest challenges in human health," said Mike Nally, CEO of Generate:Biomedicines. "With clinical programs already in progress and plans to add three to six more within the next 18 months, we are turning technological promise into tangible outcomes."
About Samsung Biologics Co., Ltd.
Samsung Biologics (KRX: 207940.KS) is a fully integrated, end-to-end CDMO service provider, offering seamless development and manufacturing solutions from cell line development to final aseptic fill/finish as well as laboratory testing support for the biopharmaceutical products we manufacture. Our state-of-the-art facilities are CGMP compliant with bioreactors ranging from small to large scales to serve varying client needs. Maximizing operational efficiency and expanding our capabilities in response to growing biomanufacturing demand, Samsung Biologics offers a combined 604 kL total capacity at Bio Campus I. The company launched Bio Campus II with the construction of Plant 5, which will be operational in April 2025, adding 180 kL biomanufacturing capacity. Additionally, Samsung Biologics America enables the company to work in closer proximity to clients based in the U.S. and Europe. We continue to upgrade our capabilities to accommodate our clients by investing in a dedicated ADC facility, mRNA technologies, and additional aseptic filling capacity. As a sustainable CDMO partner of choice, we are committed to on-time, in-full delivery of the products we manufacture with our flexible manufacturing solutions, operational excellence, and proven expertise.
About Generate:Biomedicines
Generate:Biomedicines is a technology company founded at the intersection of machine learning, biological engineering, and medicine that is advancing a new era of programmable biology to engineer better medicines for patients, faster. The Generate Platform's infusion of technology into biology allows us to address historically undruggable and hard-to-drug targets as well as known targets in new and more effective ways. Our platform has enabled the generation of a broad pipeline of therapies across multiple therapeutic areas and protein-based modalities, addressing health challenges out of reach of traditional approaches. Founded by Flagship Pioneering in 2018, Generate is a clinical-stage company leading a fundamental shift from drug discovery to drug generation. Learn more at www.generatebiomedicines.com or follow us on X, LinkedIn and YouTube.
Samsung Biologics Media Contact
Claire Kim
Generate:Biomedicines Media Contact Megan McLaughlin
SOURCE Samsung Biologics
