Samsung Biologics, C&T’s Life Science Fund invests $15 million in Senda Biosciences

Samsung Biologics and Samsung C&T’s Life Science Fund announced Wednesday it invested $15 million in Senda Biosciences, a Massachusetts-based biotech company.

The fund was created in July last year, with Samsung C&T investing 99 billion won ($75.5 million) in the fund and Samsung Biologics investing 49.5 billion won.

Other investors such as Qatar Investment Authority and Flagship Pioneering also participated in the recent funding round for Senda Biosciences, giving it Series C funding amounting to $123 million. Flagship Pioneering is known for incubating various bio companies such as Moderna, also forming Senda Biosciences by merging four biotech companies it invested in.

Senda Biosciences is currently working on developing programmable medicine, which refers to treatments that can be programmed to only affect certain tissues or cells. The company will use the funding for further development and clinical testing.

Samsung Biologics says various Samsung companies, although not specified, will work with Senda Biosciences once the company begins manufacturing its drug pipeline.

“Senda Biosciences’ unique approach of programming specifically to cells of interest could be the key to unleashing the revolutionary therapeutic potential of current and future information molecules,” said Ignacio Martinez, co-founder of Senda Biosciences. “We’re thrilled that this group of co-investors has joined us to propel Senda Biosciences’ pursuit of life-changing medicines.”

Since the Life Science Fund was created, it also invested in Jaguar Gene Therapy, a Illinois-based biotech company specializing in gene therapy development, in March. Samsung Biologics says the fund will continue to invest in various start-ups with innovative technology both in Korea and abroad.

BY LEE TAE-HEE [lee.taehee2@joongang.co.kr]