Samsung Bioepis. (Image Courtesy of Samsung Bioepis)
SEOUL, Nov. 25 (Korea Bizwire) — Samsung Group’s bio venture fund will invest in Chinese biotech firm Phrontline Biopharma as part of the group’s broader strategy to expand partnerships in antibody-drug conjugates (ADCs), the group said Tuesday.
The investment fund will come from Life Science Fund, created jointly between Samsung Biologics Co., Samsung Bioepis Co. and Samsung C&T Corp., and managed by Samsung Venture Investment Corp. Financial terms were not disclosed.
ADCs are an emerging class of targeted cancer therapies that combine the cell-targeting precision of antibodies with the tumor-killing power of chemotherapy drugs.
Samsung plans to seek collaboration opportunities to discover promising future businesses and strengthen core research in the ADC field through its investment in Phrontline, which is developing next-generation ADC anticancer drugs based on dual antibodies and dual payloads.
The strategic investment follows a partnership deal between Samsung Bioepis and Phrontline last month to co-develop, manufacture and commercialize ADCs.
Under the collaboration agreement, Samsung Bioepis will co-develop Phrontline’s two ADC assets and receive an exclusive license to the company’s payload technology for potential use across its ADC pipeline.
“Through the partnership deal and investment, we aim to secure technological influence in the global ADC market,” Samsung Bioepis said. “We plan to strengthen our preparations for future technologies through various partnerships and investments.”
(Yonhap)
