Samsung C&T, $10 Million Joint Investment in US Bio Company for 'Alzheimer's Blood Test'
Investment Through Samsung Life Science Fund
On the 13th, Samsung C&T announced that it will invest $10 million in the U.S. biotech company C2N Diagnostics, which possesses Alzheimer's blood test technology, through the Samsung Life Science Fund. Samsung plans to continuously discover companies related to pharmaceutical research and development support and continue related investments, including this investment.
C2N Diagnostics (hereinafter C2N) is a company that has developed technology capable of precisely measuring and analyzing small amounts of protein biomarkers (indicators that can measure biological or disease processes or drug responses in the body) in the blood. Based on this technology, it has enabled Alzheimer's diagnosis through blood tests. C2N has proven its technological capabilities by participating in clinical trials for various central nervous system diseases, including Alzheimer's treatments.
Its strength lies in precisely measuring the quantities of several Alzheimer's-related proteins while being more affordable and safer compared to existing methods such as amyloid PET-CT scans or cerebrospinal fluid tests. The company plans to apply for FDA approval of its Alzheimer's blood test service in the U.S. within this year.
The Samsung Life Science Fund is a venture investment fund established by Samsung C&T with a joint contribution of 240 billion KRW from Samsung Biologics and Samsung Bioepis. Managed by Samsung Venture Investment, this fund invests in various bio new technology companies with the goal of fostering future core bio technologies and improving quality of life.
Kim Jae-woo, Vice President in charge of Samsung C&T's Life Science business, said, "C2N is a promising company in the field of pharmaceutical research and development support, contract research, and related services," adding, "Through this fund investment, Samsung C&T has secured a foothold for entry into this field."
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Joel Brownstein, CEO of C2N, said, "C2N holds differentiated competitiveness in the protein analysis field through continuous technological innovation," and added, "Through this investment, C2N plans to strengthen its technological capabilities, secure outstanding talent, and provide C2N's services not only throughout the United States but also overseas."
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