Samsung Invests $175 Million in US Genetics Firm, Becomes Top Shareholder
MT Newswires Live
Jun 11
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.
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