Samsung Becomes Top Shareholder in US Genetics Firm
Samsung Electronics has invested 175 million dollars in San Diego-based Element Biosciences to deepen cooperation in genetic diagnostics and personalized medicine. The funding will support the commercialization of benchtop gene-sequencing equipment and the development of future digital health technologies.
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SAMSUNG ELECTRONICS CO LTD invested $175 million in the privately held Element Biosciences on Tuesday, June 9, to become the genetics firm's largest shareholder. This upsized Series E funding follows a $277 million Series D round completed in July 2024. The deal integrates DNA sequencing with SAMSUNG ELECTRONICS CO LTD's AI and medical device capabilities to target the genetic diagnostics market.
