Samsung Biologics proposed an all-cash tender offer of about $1.8 billion to acquire Switzerland-based PolyPeptide Group, a CDMO specializing in peptide-based APIs. The deal is Samsung’s largest-ever acquisition and marks a modality expansion beyond antibodies and ADCs into peptides, including obesity and diabetes programs such as GLP-1-based therapeutics. PolyPeptide’s board unanimously recommended the offer, with its largest shareholder committing to tender. Samsung said the combination would provide peptide manufacturing capabilities and a late-stage pipeline of active peptide projects.