On April 12, 2023 Araris Biotech AG ("Araris" or "the Company"), a company pioneering a proprietary antibody-drug conjugate (ADC)-linker technology, reported that Samsung Venture Investment Corporation ("Samsung Ventures"), an investment corporation established to promote the development of new technologies, has invested in the Company in an independent deal ahead of its on-going series A funding (Press release, Araris Biotech, APR 12, 2023, View Source [SID1234651280]).
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The investment was made via Samsung Life Science Fund – created jointly between Samsung Biologics (KRX: 207940.KS) and Samsung C&T, and managed by Samsung Ventures – which reflects Samsung’s commitment to further explore and expand various business opportunities in biopharmaceuticals.
Araris Biotech is a company pioneering a proprietary antibody-drug conjugate (ADC)- linker technology, where its linker platform enables payload attachment to off the shelf antibodies without needing to re-engineer or reduce antibodies, resulting in highly homogenous, stable and potent ADC therapies in a cost and time efficient manner. It also has the potential to address challenges associated to ADCs, including solubility and unstable linkage issues.
The latest investment reflects Samsung’s commitment to further expanding its pipeline. Samsung, as a strategic investor, will collaborate on evaluating, manufacturing and developing assets with Araris using the Company’s proprietary ADC Technology, in close collaboration with Samsung affiliates involved in the discovery and development, and manufacturing of novel biologics.
"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," said John Rim, CEO of Samsung Biologics.
"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," said Philipp Spycher, Ph.D., chief executive officer and co-founder of Araris Biotech. "We look forward to using these proceeds to further support our efforts in advancing our ADC candidates toward the clinic."