Samsung C&T and its subsidiaries Samsung BioLogics and Samsung Bioepis said Tuesday that they have signed a memorandum of understanding for strategic cooperation with Flagship Pioneering in the United States through the Life Science Fund No. 2 (SVIC No. 64 New Technology Investment Fund) established by the three companies.

Samsung C&T and its bio subsidiaries will collaborate with Flagship Pioneering on the following:

▲AI in the bio sector.

▲Translational medicine research to translate basic science research into practical use.

▲Cutting-edge technologies for biopharmaceutical development platforms.

▲High-quality clinical trial infrastructure.

The companies will also begin exchanges with various innovative startup ventures under Flagship Pioneering.

Flagship Pioneering has planned and nurtured Moderna, a well-known mRNA Covid-19 vaccine developer, since its inception.

Since its founding in 2000, the company has invested in 165 companies with cumulative assets under management of about 19 trillion won ($14.4 billion), launched over 100 companies, and listed 30, including Denali and Foghorn.

Samsung C&T and its bio subsidiaries have been working together to combat Covid-19 in Korea, with Flagship Pioneering and Samsung Biologics producing Moderna's Covid-19 vaccine since October 2021. Samsung Life Sciences Fund 1 invested $15 million in Senda Biosciences under Flagship Pioneering in August 2022.

"This MOU is an important step forward in our collaboration," said Kim Jae-woo, vice president of life sciences business at Samsung C&T. "We hope that Samsung's biotech and commercialization experience will help Flagship's bio companies bring their technologies to market faster, and we look forward to expanding our early-stage investment opportunities in future biotech companies changing the world."

According to a Samsung C&T official, the company and its bio subsidiaries would continue to invest in Korean and international venture companies and discover new businesses through collaborations with global venture capital firms, including Flagship Pioneering.