Samsung C&T said it will invest $10 million in U.S.-based C2N Diagnostics through its Life Science Fund.
Samsung Life Science Fund, a fund jointly created between Samsung Biologics, Samsung Bioepis, and Samsung C&T, and managed by Samsung Ventures, invested $10 million in U.S.-based C2N Diagnostics to advance blood-based Alzheimer’s diagnostics.
Samsung Life Science Fund, a fund jointly created between Samsung Biologics, Samsung Bioepis, and Samsung C&T, and managed by Samsung Ventures, invested $10 million in U.S.-based C2N Diagnostics to advance blood-based Alzheimer’s diagnostics.
The Life Science Fund, managed by Samsung Venture Investment, was created with a capital pool of 240 billion won ($165.5 million) contributed by Samsung C&T, Samsung Biologics, and Samsung Bioepis.
The latest investment marks the ninth investment made by the fund and reflects Samsung's commitment to discover and explore new opportunities in biopharmaceuticals to address unmet therapeutic needs.
C2N Diagnostics has developed advanced technology for the precise measurement and analysis of protein biomarkers that exist in extremely low concentrations in the blood. Utilizing this technology, the company has developed a blood test for diagnosing Alzheimer’s disease and has demonstrated its capabilities by participating in clinical trials for Alzheimer’s treatments and other central nervous system (CNS) disorders worldwide.
Compared to traditional diagnostic methods such as amyloid PET-CT scans or cerebrospinal fluid tests, C2N’s blood test offers a more cost-effective and safer alternative for accurately measuring Alzheimer’s-related proteins like amyloid beta.
C2N expects that the introduction of blood-based diagnostics will provide a more convenient and accessible option for early detection. The company plans to submit its Alzheimer’s blood test service for approval by the U.S. FDA later this year.
"C2N is a promising company with the potential to become a leader in the contract research and services sector for pharmaceuticals,” Samsung C&T Executive Vice President Kim Jay-woo said. “Through this investment, Samsung C&T has secured a foothold in the field of advanced diagnostics."
C2N Diagnostics CEO Joel Braunstein also said, "C2N has established a differentiated competitive edge in protein analysis through continuous technological innovation.”
This investment will enable the company to strengthen its technological capabilities, attract top talent, and expand its services across the U.S. and internationally, Braunstein added.
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Lee Han-soo corea022@docdocdoc.co.kr
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