Samsung Life Science Fund invests in Massachusetts-based BrickBio

Industry

Published: 19 Mar. 2024, 17:46

Samsung Life Science Fund invests in Massachusetts-based BrickBio

Samsung Biologics CEO John Rim speaks during the 42nd Annual J.P. Morgan Healthcare Conference at the main Grand Ballroom at the Westin St. Francis Hotel in San Francisco, California in January. [SAMSUNG BIOLOGICS]

Samsung Biologics is taking a serious step forward in promising next-generation cancer treatment with research into antibody-drug conjugates (ADCs).

The Korean company said Tuesday that Samsung Life Science Fund, created jointly by Samsung Biologics, Samsung Bioepis and Samsung C&T has invested in BrickBio, a Massachusetts-based biotech company that owns key technology in ADCs.

The details of the investment, the fifth by the fund, have not been disclosed.

ADCs are a fast-growing class of drug modality designed for targeted therapy, mostly for cancer treatments. Consisting of an antibody, linker and payload, an ADC selectively delivers chemotherapy agents to cancer cells while sparing healthy ones — hence the nicknames “biological missile” and “magic bullet.”

Logo of BrickBio [SAMSUNG BIOEPIS]

Under the terms of the investment, the Samsung affiliates will work with BrickBio to "evaluate, manufacture, and develop advanced molecules and therapies using BrickBio’s proprietary protein engineering technology for ADCs, Adeno-associated virus gene therapy, and other modalities."

According to BrickBio, its technology uses an expanded genetic code to incorporate synthetic amino acids into proteins, all completed within a living cell, enabling the creation of a groundbreaking new class of therapeutics with broad application and potential.

This is not the conglomerate's first foray into ADC development, with Samsung Biologics currently building an ADC facility in Songdo, Incheon, which will be completed by the end of the year.

In September, Samsung’s Life Science Fund made an equity investment in AimedBio, a Korean biotech company specializing in ADC.

The Life Science Fund was created in 2021, with contributions from Samsung C&T of 99 billion won ($74.4 million) and Samsung Biologics of 49.5 billion won. Samsung Bioepis joined in with an additional 20 billion won last year, bringing the total value of the fund to 170 billion won.

BY SARAH CHEA [chea.sarah@joongang.co.kr]