Samsung Electronics (KRX:005930) became the largest shareholder of U.S.-based genetics firm Element Biosciences with an additional equity investment of $175 million, according to a Wednesday release.

The investment was made via Element's Series E funding round. Samsung has previously participated in Element's Series D funding round in July 2024.

Element Biosciences plans to ramp up the commercialization of its next-generation gene sequencing and multi-omics technologies, while expanding its product portfolio for global clinical trials and diagnostics, the release said.

Shares of Samsung Electronics fell more than 1% at market close.