- 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
cair.kim@samsung.com
Generate:Biomedicines Media Contact Megan
McLaughlin
pr@generatebiomedicines.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/samsung-invests-in-generate-biomedicines-to-advance-ai-driven-protein-therapeutics-discovery-302334506.html
SOURCE Samsung Biologics