LG deepens biohealth push with investment in US anticancer biotech
LG recently participated as a Series B investor in Strand Therapeutics through its venture capital arm, LG Technology Ventures, according to industry sources on Sunday.
Headquartered in Cambridge, Massachusetts, the biopharma firm was founded in 2017 by a group of synthetic biologists from the Massachusetts Institute of Technology.
The firm specializes in programming cells within the body to produce precise amounts of antigens at the right time to treat cancer, autoimmune conditions and rare diseases.
With this latest investment, LG Technology Ventures' cumulative funding in biotech startups is estimated to have surpassed $50 million.
The move aligns with LG's strategic emphasis on 'ABC' industries ― artificial intelligence, bio and clean tech ― as future growth engines.
The conglomerate is focusing on creating cross-sector synergies by integrating advanced technologies with health care and sustainability-driven ventures.
The group's Chair Koo Kwang-mo underscored the importance of AI and biotechnology in his New Year's address, saying, 'We are striving for a future where loved ones can live longer, healthier lives through breakthrough therapies.'
In February, LG made a follow-up investment in ADARx Pharmaceuticals, a San Diego-based company developing first-in-class treatments for rare metabolic diseases through appetite suppression.
LG has also invested in several other biohealth innovators, including: Aetion, Eko Health and Accellex.
To strengthen its research and development capabilities, LG is increasingly integrating AI with biotechnology.
Earlier this month, LG AI Research, the artificial intelligence arm of LG Group, unveiled Exaone Pass 2.0, an AI diagnostic model capable of identifying cancer in under one minute.
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