Samsung fund selects ADC developer as first target in Korea

[Courtesy of Samsung Biologics]

Life Science Fund, a fund created jointly by Samsung Biologics Co. and Samsung C&T Corp., has picked a leading antibody-drug conjugate (ADC) developer as its first investment target in South Korea.

According to multiple sources from the bio industry on Wednesday, the 150 billion won ($112.3 million) Life Science Fund is expected to make its first investment in Korea. The target is known to be a company related to ADC, which is seen as a next-generation therapy globally.

Negotiations are underway and details will be announced later this month.

The upcoming investment will be the fourth of its kind by Life Science Fund, following three others involving U.S. gene therapeutic drug developer Jaguar Gene Therapy, U.S. nano-medicine pharmaceutical Senda Bioscience, Inc., and leading ADC developer Araris Biotech AG.

Investment amount is known to be 10 billion won.

The investment will incorporate funds from a separate pool of approximately 20 billion won, which Samsung Bioepis Co had invested in February.

ADCs, a targeted drug therapy, has emerged as the next-generation medicine in the global market. Celltrion Inc. has invested a total of 53 billion won in the British ADC developer Iksuda Therapeutics and Chong Kun Dang pharmaceutical Corp. 165 billion won in Dutch biotechnology firm Synaffix B.V.