Samsung C&T announced it has invested $10 million in U.S.-based C2N Diagnostics through a life sciences fund established with subsidiaries Samsung Biologics, Samsung Bioepis, and Samsung Venture Investment.
C2N Diagnostics specializes in technology that precisely measures and analyzes protein biomarkers present in minute quantities in blood. The company has leveraged this technology to develop blood tests for Alzheimer’s disease diagnosis and has validated its capabilities by participating in clinical trials for Alzheimer’s treatments and various central nervous system disorders.
The blood test developed by C2N offers a more affordable and safer alternative to conventional amyloid PET-CT scans or cerebrospinal fluid examinations, while accurately measuring levels of amyloid beta and other proteins associated with Alzheimer’s disease.
C2N plans to apply for FDA approval for its Alzheimer’s blood testing service within this year.
Kim Jae-woo, Samsung C&T’s vice president for life sciences business, said the fund investment secures a bridgehead for entering the field, while C2N CEO Joel Braunstein highlighted plans to strengthen technical capabilities and expand services globally with the new funding.
The life sciences fund, which has 240 billion won in capital from Samsung affiliates, previously invested in ADC developers and protein-based biopharmaceutical companies.
