Samsung Biologics and Samsung C&T said they plan to invest in Araris Biotech AG, a Swiss-based biopharmaceutical company that develops antibody-drug conjugate (ADC) therapies and owns proprietary ADC linker technology.
The investment was made via Samsung Life Science Fund – created jointly between Samsung Biologics and Samsung C&T, and managed by Samsung Ventures.
The investment reflects Samsung's commitment to further explore and expand various business opportunities in biopharmaceuticals, the fund said.
The fund's size is 150 billion won ($113.1 million).
However, the two companies did not disclose how much of the 150 billion won they will invest in Araris, citing contractual reasons.
The two companies have invested in Araris as strategic investors ahead of the ongoing series A funding.
Araris plans to use the investment to support the further development of its ADC candidates.
According to Samsung Biologics, Araris' linker technology plays a key role in the development of ADC drugs.
"The company's linker platform can attach drugs to off-the-shelf antibodies without the need to redesign the antibodies, resulting in highly homogeneous, stable, and therapeutically effective ADCs," Samsung Biologics said. "It can also reduce the time and cost of drug development, and has great potential to solve the problems of existing technologies such as scalability and stability."
Samsung Biologics also plans to collaborate with Araris in the production and development of ADC therapeutics, which will help Samsung Biologics to strengthen its ADC capabilities and further expand its portfolio.
"Araris has the potential to develop best-in-class ADC therapeutics," Samsung Biologics CEO John Rim said. "We look forward to exploring additional collaborations in the field of drug manufacturing and development."
Araris Biotech CEO Philipp Spycher also said, "We're pleased to receive this support from Samsung, as well as the recognition of the potential of our linker-payload toolbox and conjugation technology in such a quickly growing ADC field."
The company looks forward to using these proceeds to further support its efforts in advancing its ADC candidates toward the clinic, Spycher added.