LG is accelerating the development of next-generation cancer treatments by increasing its stake in a US biotech company. This move is seen as the full-scale implementation of CEO Koo Kwangmo's strategy to make convergent technologies that combine artificial intelligence (AI) and biotechnology a key pillar of future growth.
According to the biotech industry on August 3, LG recently participated in the Series B investment round of Strand Therapeutics, an mRNA therapeutics developer based in Cambridge, Massachusetts. Founded in 2017 by graduates of the Massachusetts Institute of Technology (MIT), Strand is developing treatments for cancer, autoimmune diseases, and rare diseases based on technology that programs cells in the body to produce specific antigens at desired times.
This investment included LG's venture capital arm, LG Technology Ventures. With this, LG Technology Ventures’ cumulative investment in the biotech sector is estimated to have surpassed $50 million. The investment amount, which stood at around $35 million by the end of last year, has increased by an additional $15 million this year.
LG is expanding strategic investments in related technologies to create synergy among its future business groups, represented by AI, Bio, and Cleantech (ABC). In particular, in the biotech field, LG made a second investment this year in Adipo Therapeutics, a US developer of rare obesity treatments, and has also invested in companies such as Aetion (a healthcare data analytics company), Echo Health (which possesses early diagnosis technology based on digital stethoscopes), and Acelex (a cell therapy developer).
The integration of AI technology is also underway. LG AI Research Institute recently unveiled "Exaone Pass 2.0," an AI model capable of diagnosing cancer in just one minute. This model is evaluated to have significantly accelerated cancer diagnosis by analyzing genetic mutations, expression patterns, and tissue microstructures.
In addition, LG is jointly developing a multimodal medical AI platform with Professor Hwang Taehyun's team at Vanderbilt University Medical Center in the US, and is collaborating with the world-renowned genomics research institute Jackson Lab to identify candidate treatments for Alzheimer's disease. Since February, LG has also been conducting joint research with Professor Baek Minkyoung’s team at Seoul National University to predict next-generation protein structures using AI.
LG Technology Ventures was established in Silicon Valley in 2018 and has since invested over $410 million in about 90 companies and funds in fields such as AI, biotechnology, batteries, mobility, and new materials.
In his New Year’s address this year, CEO Koo Kwangmo stated, "We will create a future that transforms customers’ lives through AI and biotechnology."
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