Samsung is creating the third Samsung Life Science Fund for investment in global biotech venture companies.
Samsung said on the 1st that Samsung C&T, Samsung Biologics, and Samsung Bioepis, a subsidiary of Samsung Epis Holdings, jointly invested to create a venture investment fund, the Samsung Life Science Fund No. 3 (SVIC-80), which will be managed by Samsung Venture Investment.
The fund was set up to identify global corporations with innovative biotech technologies and to expand investment and strategic cooperation opportunities.
The fund totals 200 billion won. Samsung C&T and Samsung Biologics each contributed 79.2 billion won (39.6%), while Samsung Bioepis put in 39.6 billion won (19.8%) and Samsung Venture Investment shouldered 2 billion won (1.0%).
Samsung previously created Fund No. 1 (170 billion won) and Fund No. 2 (72 billion won), and with this No. 3 fund added, expanded cumulative capital under management to 442 billion won.
The company plans to further strengthen investment in next-generation biotech technologies through this No. 3 fund and, based on cooperation with portfolio corporations, broaden its global network and business opportunities.
To date, the Samsung Life Science Fund has invested in more than 12 global biotech corporations and venture capital (VC) firms, including Korea's Aimed Bio; in the United States, Flagship Pioneering, Latus Bio, Generate Biomedicines, C2N Diagnostics, Arbor Biotechnologies, and Cartography Biosciences; and in China, Phrontline Biopharma.