Samsung Life Science Fund invests in Generate:Biomedicines

Samsung said on the 18th that it will invest in U.S. biotech venture Generate Biomedicines through its Life Science Fund, established to develop new technologies and businesses in the life sciences.

The Samsung Life Science Fund is a venture capital fund jointly backed by Samsung C&T, Samsung Biologics and Samsung Bioepis, which contributed a total of KRW 240 billion. Samsung Venture Investment formed the fund and manages it.

Generate Biomedicines has protein design technology that uses generative AI and machine learning, as well as the capacity to build large-scale datasets to improve AI model performance and increase the likelihood of drug development success.

Its proprietary generative AI program, Chroma, can rapidly design de novo proteins with desired properties and functions, substantially shortening drug development timelines. The company is currently developing drugs for a range of conditions, including cancer, immune disorders and infectious diseases.

Through the investment, Samsung plans to invest early in an innovative biotech venture capable of generating multiple drug candidates. If development succeeds, it also aims to foster AI-driven business growth through a range of collaborations, including building a manufacturing ecosystem as a strategic contract manufacturing (CMO) partner and pursuing joint development.

John Rim, CEO of Samsung Biologics, said, “We have seen Generate’s potential to develop innovative treatments. We look forward to drawing on its strengths in artificial intelligence and machine learning to build an ecosystem for collaboration in development, manufacturing and R&D, and to advance next-generation medicines that meet our customers’ needs.”

“With the support of key partners like Samsung, we aim to continue advancing our platform, generate high-quality data and tackle some of the most difficult challenges in human health,” said Generate CEO Mike Nally. “In addition to our ongoing clinical programs, we plan to add three to six more over the next 18 months. Generate is turning technological possibilities into tangible results.”

The Samsung Life Science Fund has invested in AAV gene therapy developers Jaguar Gene Therapy and Latus Bio; next-generation antibody-drug conjugate (ADC) developer Araris Biotech; Korean biotech company AimedBio; mRNA/LNP platform company Sail Biomedicines; and Flagship Pioneering, a venture capital firm that establishes and grows companies developing innovative biotech technologies. The fund is now expanding its investments into artificial intelligence (AI) to secure new sources of innovation.