Samsung becomes largest shareholder in Element Biosciences with US$175 mln investment
2026.06.10 08:48
Samsung becomes largest shareholder in Element Biosciences with US$175 mln investment
By Kim Han-joo
SEOUL, June 10 (Yonhap) -- Samsung Electronics Co. said Wednesday it has invested US$175 million in an expanded Series E funding round for U.S.-based genomics technology company Element Biosciences, becoming the company's largest shareholder.
The investment follows Samsung Electronics' participation in Element's Series D funding round in July 2024, the South Korean technology giant said in a press release.
Headquartered in San Diego, Element Biosciences develops next-generation DNA sequencing and multiomics platforms used in biomedical research, drug discovery, clinical research, agriculture and other life science applications.
Samsung said the investment aligns with its efforts to expand its presence in precision medicine and digital health technologies.
"The combination of Samsung Electronics' expertise in artificial intelligence, medical devices and digital health with Element's innovative genomic analysis technology is expected to create synergies that will help shape the future of personalized medicine," Roh Tae-moon, co-CEO of Samsung Electronics in charge of the mobile business, said in a statement.
Samsung highlighted Element's next-generation gene sequencing technology and multiomics capabilities as key areas of interest.
Multiomics is a technology that simultaneously analyzes multiple types of biological data, including RNA and proteins, in addition to DNA, providing a more comprehensive understanding of how genetic information functions within living organisms.
khj@yna.co.kr
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