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Samsung Biologics and Samsung C&T are investing in Araris Switzerland-based biotech company. The former announced on Wednesday, April 12, that it would be joining in the series A funding round for the said Swiss firm.
Arais Biotech AG is a company that makes antibody-drug conjugate (ADC) technologies. This refers to a type of medicine formulated as a targeted therapy for the treatment of cancer.
Samsung Biologics is the contract manufacturing arm of the Samsung Group, and it has confirmed its participation in the funding round to secure a stake in the Swiss ADC company. As per The Korea Herald, it will be making its investments in Araris through Samsung Life Science Fund, which is being co-managed by Samsung Biologics and Samsung C&T.
The fund is said to be worth around KRW150 billion or $113 million, and it was set up in 2021 to support Samsung Biologics' bid to find new business opportunities in the global biotech industry.
It was said that the undisclosed amount of investment funds would be primarily used to back Araris in its works for the development of potential candidates for ADCs. The value of the fund was not shared with the public because of the agreements made between Samsung Biologics and Araris.
The South Korean biotech firm added that through this new investment, it is aiming to expand its ADC-related portfolio as well. It will also be able to actively participate in the production of ADC drugs through its partnership with Araris.
“Araris has the potential to develop best-in-class ADC therapies, and we see room for collaboration in the manufacturing and development of new drugs,” Samsung Biologics’ president and chief executive officer, John Rim, said in a statement.
Araris Biotech’s CEO and co-founder, Philipp Spycher, Ph.D., added, “We are 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 and we look forward to using these proceeds to further support our efforts in advancing our ADC candidates toward the clinic.”
