Samsung Biologics reports first quarter 2025 financial results

INCHEON, South Korea, April 23, 2025 /PRNewswire/ -- Samsung Biologics (KRX: 207940.KS), a global contract development and manufacturing organization (CDMO), today announced financial results for the first quarter of fiscal year 2025. "We sustained solid momentum in the first quarter, supported by the efficient operations across all our plants and continued partnerships with our clients," said John Rim, CEO and President of Samsung Biologics. "The launch of Plant 5 and our dedicated antibody-drug conjugate (ADC) facility marks another milestone in expanding our capacity to cater to diverse client demands. We remain committed to delivering long-term value for clients and shareholders through strategic investments in technology while continuously offering competitive advantages with our development and manufacturing capabilities." FIRST QUARTER 2025 RESULTS Samsung Biologics reported consolidated revenue of KRW 1.3 trillion in the first quarter of 2025, mainly driven by the stable ramp-up of Plant 4 while maintaining the full utilization of Plants 1 through 3, alongside favorable impact of foreign exchange rates. The company maintains its full-year earnings guidance of 20–25% revenue growth. On a standalone basis, Samsung Biologics posted revenue of KRW 999.5 billion and an operating profit of KRW 430.1 billion. BUSINESS UPDATES Samsung Biologics continues to secure new CDMO contracts, signing a deal worth USD 1.4 billion with a Europe-based pharmaceutical company in January, followed by additional contracts in April. The expanded partnerships reflect the company's capability to delivering consistent quality and clients' trust in Samsung Biologics' services. Plant 5 commenced operations as committed in April this year. The new plant incorporates advanced technologies and digitalized features, including an integrated manufacturing execution system, to further enhance operational efficiency and quality excellence. Plans to build a sixth plant in response to growing biomanufacturing demand are currently awaiting board approval. Samsung Biologics' ADC facility also commenced operations earlier this year, further building on the company's capability to support diverse modalities. For the CDO business, growth was supported by upgrading technology platforms as well as enhancing service quality. Samsung Biologics signed an agreement to carry out multiple ADC projects for LigaChem Biosciences. The company also continues to support the growth of emerging biotechs through the Samsung Life Science Fund, with its latest investment being made in C2N Diagnostics, a US-based biotech firm developing blood-based diagnostics for early detection of Alzheimer's disease. In line with Samsung Biologics' geographic expansion strategy to better support a broader client base and strengthen its regional presence, the company opened a sales office in Japan this year. Samsung Biologics remains committed to sustainable and responsible growth. The company was given a 'Low Risk' rating and selected as an 'Industry Top Rated' company by Sustainalytics, and received leadership status for water security from the Carbon Disclosure Project. As a member of the Sustainable Markets Initiative's Health Systems Task Force, the company also continues to contribute to the decarbonization of healthcare supply chains in partnership with stakeholders across the public and private sectors. About Samsung Biologics Co., Ltd. Samsung Biologics (KRX: 207940.KS) is a fully integrated, end-to-end CDMO service provider, offering seamless development and manufacturing services from cell line development to final aseptic fill/finish as well as laboratory testing support for the biopharmaceutical products we manufacture. Our state-of-the-art facilities are CGMP compliant with bioreactors ranging from small to large scales to serve varying client needs. Samsung Biologics offers a combined 604 kL capacity at Bio Campus I. The company launched Bio Campus II with the completion of Plant 5 in April 2025, adding 180 kL capacity. Additionally, Samsung Biologics America enables the company to work in closer proximity to clients based in the U.S. and Europe. We continue to maximize operational efficiency and upgrade our capabilities to better accommodate client needs, investing in an ADC facility, mRNA technologies, and additional aseptic filling capacity. As a sustainable CDMO partner of choice, we are committed to on-time, in-full delivery of the products we manufacture with our flexible manufacturing services, operational excellence, and proven expertise. Samsung Biologics Media Contact Claire Kim, Head of Marketing & Global Communications cair.kim@samsung.com

Korea, Thailand resume EPA talks to boost trade ties

South Korea and Thailand are holding their fifth round of negotiations this week to finalize the Economic Partnership Agreement aimed at deepening bilateral trade and investment ties, Seoul's Trade Ministry said Tuesday. Korea's Ministry of Trade, Industry and Energy said the talks will take place from Tuesday to Friday in Bangkok. The EPA is a form of trade pact similar to a free trade agreement, but it goes further by incorporating a broader cooperation framework in addition to tariff reduction and market liberalization. Roh Keon-ki, deputy minister for trade negotiations at the Trade Ministry, is leading the Korean delegation, while his Thai counterpart, Chotima Iemsawasdikul, director general of the department of trade negotiations of the Ministry of Commerce of Thailand, will head the Thai delegation. About 90 representatives from both sides are taking part in the talks, Seoul's ministry said. "The rapidly changing trade landscape, including US-led tariff actions, underscores the importance of bilateral agreements as a reliable safety net for Korean exports," Roh said. "We are committed to accelerating negotiations for a swift conclusion to the EPA with Thailand, a leading ASEAN (Southeast Asian) economy and a promising trade partner." According to the ministry, the fifth round of talks will cover 13 key areas, such as goods, services, investment, intellectual property and sustainable development. Both sides aim to advance market access, harmonize trade rules and strengthen future-oriented cooperation, the ministry added. Korea and Thailand first launched the EPA negotiations in March 2023. Since then, they have held four rounds of discussion to arrange a high-standard bilateral agreement that builds on existing regional frameworks, including the free trade agreement between Korea and the Association of Southeast Asian Nations and the Regional Comprehensive Economic Partnership. During the Bangkok trip, Roh will also attend the Korea-Thailand RCEP Trade Forum and also host a roundtable meeting with major Korean companies operating in Thailand. Participants are expected to discuss improving the use of RCEP benefits and addressing challenges faced by local companies, including those related to US-led tariff measures, according to the ministry. Over 100 Korean and Thai government officials and business representatives are expected to join the events, including Ekachat Seetavorarat, the deputy permanent commerce secretary. The business roundtable will include executives from key Korean firms in Thailand, including Hyundai Motor and Kia, Posco TCS, LG Electronics and Samsung Life Insurance.

Upstage sets sights on global enterprise AI market

South Korean artificial intelligence startup Upstage unveiled Wednesday ambitious plans to expand into the global enterprise AI market, primarily focusing on the US and Japan. “Upstage AI is about shaping a better future of work,” said CEO Kim Sung-hoon during a press briefing in Seoul. “We aim to bring the proven AI work standards established in Korea to the global stage and deliver measurable business outcomes through AI.” The AI company recently made headlines by partnering with domestic telecom carrier KT Corp. to deploy a Thai language-specific large language model for Jasmine Technology Solutions, an IT arm of Thailand's tech giant Jasmine Group. The project marked Korea’s first sovereign AI deployment overseas, cementing Upstage’s reputation for technical excellence and expanding its presence in the Southeast Asian AI market. Last month, Upstage established its subsidiary in Japan, following its US expansion last year. In Japan, the company is developing a Japanese-specialized LLM in collaboration with local partners. The key to Upstage’s global strategy is its full-stack AI platform, designed for enterprise use. With the recent appointment of Hiroyuki Matsushita, a seasoned executive formerly with Panasonic and Amazon Web Services, to lead the Japanese arm, the company is positioning itself to capture a significant share of Japan’s generative AI market, projected to reach $11.85 billion by 2030. Upstage’s strategy targets Japan’s document-intensive enterprise environment -- estimated to be over 10 times larger than Korea’s. The company aims to boost operational efficiency for Japanese firms through AI, particularly with the launch of Syn, a compact language model co-developed with Japanese chatbot startup Karakuri. Syn is tailored for industries such as finance, health care, manufacturing and legal services. In the United States, Upstage plans to leverage its successful document parsing use cases with major Korean insurers like Samsung Life Insurance and Hanwha Life to appeal to enterprise clients. It also seeks to replicate its Thai LLM success in other regions showing interest in sovereign AI, including Southeast Asia and the Middle East. To strengthen its global competitiveness, Upstage is advancing its LLM development. At Wednesday’s event, the company introduced Solar Pro 1.3, which currently holds the highest benchmark scores among Korean-made models. It also plans to release Solar Pro 1.5 in June, a 33-billion-parameter model offering enhanced fluency and usability. Starting in June, Upstage will also roll out multimodal AI capabilities. Combining its Document Parse engine with the Solar LLM, the new vision-language model will support document-based applications such as summarization, Q&A and report generation. According to internal testing, the model outperforms Meta’s LLaMA 4 Scout and Google’s Gemini 2.5 Pro in accuracy. “We are establishing the standard for enterprise AI in Korea through our own Solar LLM and Document Parse technology,” the CEO said. “Now, we are ready to take that standard global.”

Samsung Life to incorporate Samsung Fire after regulatory nod

Samsung Life Insurance Co. has secured regulatory approval to absorb Samsung Fire & Marine Insurance Co. as a subsidiary, with plans to complete the incorporation by the end of this month. The life insurance arm of Samsung Group, South Korea’s largest conglomerate, announced Tuesday that the Financial Services Commission granted approval on March 19, clearing the way for Samsung Fire to become its subsidiary. The two insurers currently operate separately within the Samsung structure. Following the approval, Samsung Fire’s board on Tuesday approved the retirement of treasury shares. The company will retire shares worth 512.6 billion won ($349.4 million) on April 30, including 1,365,682 common shares and 92,490 preferred shares. The buyback price was set at Monday’s closing levels — 357,500 won per common share and 271,000 won per preferred share. The treasury share retirement will increase Samsung Life’s stake in Samsung Fire from 14.98 percent to 15.43 percent, surpassing the previous 15 percent cap that restricted one insurer from holding a controlling stake in another. The FSC’s recent approval lifted this restriction, enabling Samsung Life to take Samsung Fire under its umbrella as an affiliate. Samsung Fire said the treasury share retirement will be conducted within the scope of distributable profits, stressing that while the total share count will decline, there will be no reduction in capital. Meanwhile, Samsung Fire plans to reduce its treasury shareholding from 15.9 percent to around 5 percent by 2028, aiming to enhance corporate value and achieve a 50 percent shareholder return. If the plan proceeds as intended, Samsung Life’s stake will rise to 17 percent. Both companies have emphasized that their operations will remain independent. Financial Supervisory Service Gov. Lee Bok-hyun also underscored last week that the subsidiary incorporation "will not affect the governance structures" of Samsung Life, Samsung Fire or other Samsung affiliates. "The incorporation merely addresses a technical issue arising from Samsung Fire’s value-enhancement efforts, which led to an increase in Samsung Life’s stake," Lee said, adding, "As long as ownership stays below 20 percent, there will be no impact on their accounting."

Big 4 chaebol groups aid wildfire recovery in southeastern region

As the wildfire in Uiseong-gun, North Gyeongsang Province, continues to burn for the sixth consecutive day, Korea's top four conglomerates -- Samsung, Hyundai Motor, SK and LG -- have donated funds and offered services to help stabilize the lives of residents in the affected areas. Samsung Group said Wednesday that it has donated 3 billion won ($2 million) to the Korean Red Cross to assist those impacted by the disaster. The donation comes from eight affiliated companies, including Samsung Electronics, Samsung Display, Samsung SDI, Samsung Electro-Mechanics, Samsung SDS, Samsung Life Insurance, Samsung Fire & Marine Insurance and Samsung C&T. Hyundai Motor Group also contributed 2 billion won to the Hope Bridge Korea Disaster Relief Association to support recovery and aid for residents. In addition to the financial donation, Hyundai has deployed six relief vehicles, including laundry and sanitation trucks, to help clean contaminated laundry and provide disinfection services in the affected areas. SK Group said it has provided relief funds and essential supplies worth 2 billion won to the Community Chest of Korea and the Korea Disaster Relief Association. The contributions aim to support the restoration of areas affected by wildfires and provide emergency assistance to displaced residents. SK hynix, the chipmaking unit of SK Group, has been actively delivering aid through its High Safety initiative, which allocates 600 million won annually for disaster relief. Since Sunday, the company has been supplying emergency shelters, including 800 sets of relief tents and floor mats, as well as 1,500 disaster relief kits to affected residents in Hadong, South Gyeongsang Province, and Yeongdong, North Chungcheong Province. Similarly, LG Group has contributed 2 billion won to the Community Chest of Korea and is mobilizing its affiliates to assist wildfire victims. LG Electronics has taken an active role by providing home appliances such as air purifiers for use in temporary shelters. Additionally, the company is operating mobile service centers that offer free repairs for damaged appliances in fire-affected areas. Steel giant Posco Group has also stepped up to support wildfire recovery efforts, with Posco Holdings leading a joint donation of 2 billion won to the Hope Bridge Korea Disaster Relief Association. The contribution comes from its affiliates, including Posco, Posco International, Posco E&C, Posco Future M and Posco DX. Other major businesses have extended their support: Lotte Group (1 billion won), KT Group (1 billion won), HD Hyundai (1 billion won), Dunamu (1 billion won), CJ Group (500 million won), Shinsegae Group (500 million won), LS Group (500 million won) and Hyundai Department Store (400 million won).

Samsung Life sees limited impact from Samsung Fire subsidiary plan

Samsung Life rules out additional stake in Samsung Fire post-affiliation, vows to boost shareholder returns Samsung Life Insurance said Thursday that it expects limited impact on its business following its planned incorporation of Samsung Fire & Marine Insurance as a subsidiary. "Incorporating the subsidiary will have no impact on the company’s profits or capital ratio, nor will there be any changes in overall business management," Samsung Life's Chief Financial Officer Lee Wan-sam said during an earnings call earlier in the day. Yet, with both firms leading their respective insurance markets, synergy is expected, particularly as the boundaries between life and general insurance continue to blur amid evolving consumer needs. Like other life insurers, Samsung Life has been expanding into the health insurance sector in recent years. "The two companies are already active in the overlapping health insurance sector. Within legal boundaries, we will pursue further synergy through cross-selling and joint investments in alternative assets," Lee added. The comments follow Samsung Life’s application for regulatory approval from the Financial Services Commission last week for the subsidiary affiliation. Industry watchers estimate the review process will take about two months. The move follows Samsung Fire’s January announcement that it plans to reduce its 15.9 percent treasury shareholding to below 5 percent by 2028, aimed at enhancing corporate value and increasing shareholder returns. If the affiliation is approved, Samsung Life’s stake in Samsung Fire will increase from 14.98 percent to 16.93 percent, surpassing the 15 percent cap set by local insurance regulations. Under the Insurance Business Act, an insurer must incorporate another insurer as a subsidiary if its stake exceeds this threshold. While Samsung Life could alternatively sell shares to comply with the cap, industry analysts believe subsidiary incorporation is the more likely outcome. A key concern had been the overhang risk leading up to the stake sale, as uncertainty about a divestment often prompts investors to preemptively offload shares, potentially driving down stock prices. However, following Samsung Life’s formal application to the FSC for subsidiary affiliation on Feb. 13, this overhang risk subsided, triggering a rally in both insurers’ stock prices. Samsung Life surged 15.1 percent, while Samsung Fire jumped 18.5 percent over the next two trading days. Selling shares also carries the risk of weakening Samsung Life’s dominant position within Samsung Group’s governance structure. Currently, Samsung Electronics Chairman Lee Jae-yong holds an 18.9 percent stake in Samsung C&T, which in turn owns 19.34 percent of Samsung Life. Samsung Life, in turn, is the largest shareholder of both Samsung Fire and Samsung Electronics, reinforcing Lee’s control over the group’s key business divisions. Any reduction in Samsung Life’s stake in Samsung Fire would require careful management to preserve this strategic power structure. Some industry insiders had speculated that Samsung Life might further increase its stake in Samsung Fire post-affiliation, but the company dismissed the possibility on Thursday, stating it has no plans to expand its holdings at this time. Meanwhile, Samsung Life reaffirmed its commitment to increasing shareholder returns, targeting a mid-term goal of a 50 percent payout rate within the next three years or so. Boosted by robust earnings in 2024, the company announced a record-high dividend of 4,500 won per share, representing a 21 percent on-year increase. Last year, Samsung Life reported a net profit exceeding 2.1 trillion won ($1.46 billion), becoming the first local life insurer to surpass the 2 trillion won mark and the second in the overall industry, following Samsung Fire, which achieved the same milestone with its 2024 earnings. "We aim to enhance corporate value by maintaining an appropriate capital ratio while ensuring a stable and steadily increasing shareholder return rate," the CFO said.

NPS chief investment officer to extend tenure

The incumbent chief investment officer at the National Pension Service, the world’s third-largest pension fund by total assets with nearly 1,200 trillion won ($830 billion) in its arms, is to extend his tenure for another year, backed by a robust track record, according to industry sources Wednesday. While the NPS has finalized the process to reappoint Chief Investment Officer Seo Won-joo to the position, his extended term will have to be approved by the minister of health and welfare. With the reappointment, Seo's term is to last until Dec. 26 this year. The pension fund’s CIO serves a two-year term. The term can be extended in one-year terms based on performance. Having occupied the post since December 2022, Seo's term expired on Dec. 26, 2024. Though he was set for another term, the reappointment has been stalled for more than a month due to President Yoon Suk Yeol's short-lived martial law declaration on Dec. 3 and the political crisis that has followed. With Seo in his post, the NPS reported a record 13.6 percent return on investment in 2023. It marked the highest annual return on investment by the fund since its management division was established in 1999. It also posted a sharp turnaround from its worst-ever investment loss of 8.22 percent in 2022. The pension fund is likely to have posted a similarly great return for 2024. As of November 2024, its year-to-date investment return stood at 12.57 percent. Before Seo, Ahn Hyo-joon, who took the post in 2018, served a four-year term. Lee Chan-woo also served a three-year term after being appointed in 2010, but it is relatively rare for the NPS CIO to serve beyond the initial term. Prior to joining the NPS, Seo had served as CIO of the Government Employees Pension Service and the now-defunct PCA Life Insurance. Before that, he was with Samsung Life Insurance for over 20 years. The NPS is the third-largest pension fund in the world by total assets, following the Government Pension Fund of Norway and the Government Pension Investment Fund of Japan. The fund's assets under management amounted to 1,185 trillion won as of November.

Samsung Biologics extends collaboration with LigaChem Biosciences for ADC development

INCHEON, South Korea, Jan. 9, 2025 /PRNewswire/ -- Samsung Biologics (KRX: 207940.KS), a global contract development and manufacturing organization (CDMO), today announced to extend collaboration with LigaChem Biosciences (KOSDAQ: 141080) to provide antibody-drug conjugate (ADC) services. Samsung Biologics will support a series of LigaChem Biosciences' ADC programs at Samsung Biologics' new dedicated ADC facility. The two companies have already been collaborating on ADC programs for the treatment of solid tumors. LigaChem Biosciences is a biotech pioneering research and development of ADC candidates. "The latest collaboration will further strengthen Samsung Biologics' capabilities across all stages of ADC development and manufacturing as part of our commitment to deliver safe and high-quality therapeutics to patients," said John Rim, CEO and President of Samsung Biologics. "We look forward to supporting our clients' innovative ADC pipelines, ensuring the highest quality and timelines are met." "This collaboration with Samsung Biologics will be an important step toward strengthening the supply chain of high-quality ADC drugs and enhancing the competitiveness of both companies in the global ADC market," said Yong-Zu Kim, LCB's President and CEO. "By leveraging Samsung Biologics' extensive experience as a CDMO, we will accelerate the development of our pipeline and quickly provide innovative ADC treatments to patients". Samsung Biologics' ADC facility is a segregated suite, equipped with a 500-liter reactor, supporting the development and manufacture of ADC therapies. Building on the company's track record of expertise in large-scale antibody manufacturing and process engineering, Samsung Biologics' ADC service scope spans late discovery to development and conjugation. Samsung Biologics has also been making active investments through the Samsung Life Science Fund in biotech companies pioneering ADC linker technologies, toolbox, and protein engineering. For more information, visit: https://samsungbiologics.com/services/adc About Samsung Biologics Co., Ltd. Samsung Biologics (KRX: 207940.KS) is a fully integrated, end-to-end CDMO service provider, offering seamless development and manufacturing solutions from cell line development to final aseptic fill/finish as well as laboratory testing support for the biopharmaceutical products we manufacture. Our state-of-the-art facilities are CGMP compliant with bioreactors ranging from small to large scales to serve varying client needs. Maximizing operational efficiency and expanding our capabilities in response to growing biomanufacturing demand, Samsung Biologics offers a combined 604 kL total capacity at Bio Campus I. The company launched Bio Campus II with the construction of Plant 5, which will be operational in April 2025, adding 180 kL biomanufacturing capacity. Additionally, Samsung Biologics America enables the company to work in closer proximity to clients based in the U.S. and Europe. We continue to upgrade our capabilities to accommodate our clients by investing in a dedicated ADC facility, mRNA technologies, and additional aseptic filling capacity. As a sustainable CDMO partner of choice, we are committed to on-time, in-full delivery of the products we manufacture with our flexible manufacturing solutions, operational excellence, and proven expertise. About LigaChem Biosciences LigaChem Biosciences, Inc. (LCB) is a clinical stage biopharmaceutical company dedicated to the discovery and development of innovative medicines by leveraging the medicinal chemistry expertise to make conventional biologics more targeted and potent for the benefit of patients with diseases of highly unmet medical needs. LCB is advancing sustainable pipelines in therapeutic areas within antibiotics, anti-fibrotics, oncology, and ADC platform technology. For further information, visit https://ligachembio.com/ Samsung Biologics Contact Claire Kim, Head of Global Marketing Communications cair.kim@samsung.com LigaChem Biosciences Contact Daeyoung Jeong, Head of Investor Relations/ Business Development jdy@ligachembio.com

Market value of Samsung Group's affiliates drops 23% in 2024

The combined market capitalization of Samsung Group's affiliates dropped about 23 percent in 2024 due to the sluggish performance of its key affiliate Samsung Electronics Co., data showed Sunday. The market value of Samsung's affiliates stood at 548.4 trillion won ($371.5 billion) as of Thursday, compared with 709.6 trillion won a year earlier, according to data compiled by Yonhap Infomax, the financial news arm of Yonhap News Agency. Samsung Group has 22 affiliates listed on the local stock market, including Samsung Electronics Co., Samsung Biologics Co., Samsung C&T Corp. and Samsung Life Insurance Co. The overall decrease came as shares of Samsung Electronics tumbled 31.71 percent this year, with those of Samsung SDI Co. and Hotel Shilla Co. falling 47.66 percent and 42.58 percent, respectively. "Shares of Samsung Electronics are expected to trade within a limited range for the time being due to the downcycle of memory chips," said Kim Dong-won, a researcher at KB Securities Co. (Yonhap)

Samsung invests in Generate: Biomedicines to advance AI-driven protein therapeutics discovery

- Samsung Life Science Fund invests in Generate:Biomedicines, a Flagship Pioneering company leading in AI-enabled protein therapeutics discovery and development - Investment highlights Samsung's dedication to advancing innovation and creating a robust ecosystem for AI-enabled therapeutic development INCHEON, South Korea, Dec. 18, 2024 /PRNewswire/ -- Samsung announced today it has invested in Generate: Biomedicines ("Generate") as part of its efforts to drive growth and innovation in the biopharmaceutical sector. The investment was made via the Samsung Life Science Fund, which was created jointly between Samsung Biologics, Samsung C&T, and Samsung Bioepis, and managed by Samsung Venture Investment Corporation. Established in 2021 and worth KRW 240 billion, the fund has invested in biotech companies with promising technologies. Generate, founded by Flagship Pioneering, is a US-based clinical stage company leading in generative biology. The company applies AI-based optimization and de novo generation to discover and design novel protein therapeutics, and has a robust pipeline of approximately 20 programs from preclinical to clinical development across oncology, immunology, and infectious diseases. "We see great potential in Generate to develop first- and best-in-class therapeutics," said John Rim, President and CEO of Samsung Biologics. "Leveraging Generate's strengths in AI and machine learning, we look forward to creating an ecosystem for development, manufacturing, and R&D collaboration to advance next-generation medicines in areas with unmet needs." "Funding from leading partners like Samsung enables us to continue advancing our platform, generating high-quality data, and empowering our exceptional team to tackle some of the toughest challenges in human health," said Mike Nally, CEO of Generate:Biomedicines. "With clinical programs already in progress and plans to add three to six more within the next 18 months, we are turning technological promise into tangible outcomes." About Samsung Biologics Co., Ltd. Samsung Biologics (KRX: 207940.KS) is a fully integrated, end-to-end CDMO service provider, offering seamless development and manufacturing solutions from cell line development to final aseptic fill/finish as well as laboratory testing support for the biopharmaceutical products we manufacture. Our state-of-the-art facilities are CGMP compliant with bioreactors ranging from small to large scales to serve varying client needs. Maximizing operational efficiency and expanding our capabilities in response to growing biomanufacturing demand, Samsung Biologics offers a combined 604 kL total capacity at Bio Campus I. The company launched Bio Campus II with the construction of Plant 5, which will be operational in April 2025, adding 180 kL biomanufacturing capacity. Additionally, Samsung Biologics America enables the company to work in closer proximity to clients based in the U.S. and Europe. We continue to upgrade our capabilities to accommodate our clients by investing in a dedicated ADC facility, mRNA technologies, and additional aseptic filling capacity. As a sustainable CDMO partner of choice, we are committed to on-time, in-full delivery of the products we manufacture with our flexible manufacturing solutions, operational excellence, and proven expertise. About Generate:Biomedicines Generate:Biomedicines is a technology company founded at the intersection of machine learning, biological engineering, and medicine that is advancing a new era of programmable biology to engineer better medicines for patients, faster. The Generate Platform's infusion of technology into biology allows us to address historically undruggable and hard-to-drug targets as well as known targets in new and more effective ways. Our platform has enabled the generation of a broad pipeline of therapies across multiple therapeutic areas and protein-based modalities, addressing health challenges out of reach of traditional approaches. Founded by Flagship Pioneering in 2018, Generate is a clinical-stage company leading a fundamental shift from drug discovery to drug generation. Learn more at www.generatebiomedicines.com or follow us on X, LinkedIn and YouTube. Samsung Biologics Media ContactClaire Kim cair.kim@samsung.com Generate:Biomedicines Media Contact Megan McLaughlin pr@generatebiomedicines.com