Samsung Life Science Fund Invests in U.S. Biotech ‘Generate Biomedicines’

Samsung announced on the 18th that it has invested in the U.S.-based biotech company Generate Biomedicines through its Life Science Fund.

The Samsung Life Science Fund is a venture capital fund established with a combined investment of 240 billion KRW (~$180 million) from Samsung C&T, Samsung Biologics, and Samsung Bioepis. The fund was created to foster the development of new technologies and businesses in the life sciences sector and is currently managed by Samsung Venture Investment Corporation.

Generate Biomedicines specializes in protein design technology utilizing generative AI and machine learning. The company has built capabilities for amassing large-scale datasets to enhance the performance of AI models and improve the success rate of drug development.

Of particular note is its proprietary generative AI program, Chroma, which enables the rapid design of de novo proteins with desired characteristics and functions, significantly shortening drug development timelines. De novo proteins refer to proteins designed or generated entirely from scratch, without relying on existing protein sequences or structures. The company is currently developing novel drugs in areas such as cancer, immune diseases, and infectious diseases.

Samsung plans not only to make a proactive investment in this innovative biotech company with the potential to produce multiple drug candidates but also to establish a multifaceted collaborative relationship with Generate. Samsung aims to serve as a strategic partner for future development successes, including establishing production systems and co-developing new therapies.

John Rim, CEO of Samsung Biologics, stated, “We recognize Generate’s potential to develop innovative therapies. By leveraging Generate’s strengths in AI and machine learning, we aim to create an ecosystem for collaboration in development, manufacturing, and R&D, driving progress in next-generation therapeutics to meet customer needs.”

Mike Nally, CEO of Generate Biomedicines, commented, “With the support of key partners like Samsung, we aim to continuously enhance our platform, generate high-quality data, and address the toughest challenges in human health. In addition to our ongoing clinical programs, we plan to initiate 3 to 6 new clinical programs within the next 18 months.”