Samsung Bio has inked an ADC development pact with AimedBio after investment wing Samsung Venture Investment Corporation took a stake in the company.
The undisclosed investment was made by Samsung Life Science Fund, a joint creation between Samsung Biologics, Samsung C&T, and Samsung Bioepis, which is managed by Samsung Ventures Investment Corporation (Samsung Ventures), an investment corporation that aims to promote the advancement of technologies.
A spokesperson from Samsung Bioepis told BioProcess Insider the total value of the Samsung Life Science Fund is “170 billion KRW ($128 million).” Around $113 million has been invested by Samsung C&T and Samsung Biologics and $15 million has been invested by Samsung Bioepis.
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“We are pleased to support AimedBio for their pipeline of innovative candidates towards the clinic,” said John Rim, CEO of Samsung Biologics. “As part of our continued efforts in fostering next-generation technologies, we hope this investment paves the way for future collaborations on the development and manufacturing of new drugs.”
AimedBio is based on multi-omics and artificial intelligence (AI) data analysis of patient samples. The Korean firm focuses on the discovery and advancement of medicines for individuals with Alzheimer’s disease, Parkinson’s disease, and neurological diseases, such as brain cancer.
The company also has an antibody-drug conjugate (ADC) experimental drug candidate targeting FGFR3 aiming to treat brain and bladder cancers. It is anticipated to enter clinical trials next year.
In addition to the investment made by Samsung’s Life Science Fund, Samsung Biologics has entered a research partnership agreement. The collaboration will focus on co-developing ADC technologies, as well as a contract development agreement to support the advancement of AimedBio’s monoclonal antibody (mAb) therapy for dementia and atopic dermatitis.
Back in December 2022, Samsung Biologics said it was looking at moving into the ADC market and at the time, James Park, who was the executive vice president of global sales at Samsung Biologics, told BioProcess Insider the firm has space free at one of its operational plants in Songdo, Incheon. The firm has since said it is building its own separate ADC production plant and construction is expected to be complete in 2024.
This is not the first time the Samsung Life Science Fund invested in an ADC company. In April, it took an undisclosed stake in Araris Biotech to support future advancement of potential candidates for ADCs.
While Samsung Biologics did not respond regarding the AimedBio investment, the firm has published unrelated news this week.
In 2013, Bristol-Myers Squibb (BMS) forged a strategic deal with Samsung Biologics – expanded in 2014 and again in 2019 – to produce commercial antibody drug substances.
This week, the CDMO has expanded the agreement again. Under the terms of the new deal, Samsung Biologics will provide drug substance production for an antibody cancer drug substance at the firm’s facility in Songdo, South Korea named Plant four.
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