Samsung Electronics invested $175 million in the expanded Series E funding round of US-based genomics technology company Element Biosciences, becoming the largest shareholder of the company.
This investment follows Samsung’s participation in Element’s Series D funding round in July 2024. The company stated that this new step aligns with its strategy to grow its presence in precision medicine and digital health technologies.
What Does Element Biosciences Do?
Based in San Diego, Element Biosciences develops next-generation DNA sequencing and multi-omic platforms used in biomedical research, drug discovery, clinical trials, agriculture, and other life science fields.
Samsung highlighted Element’s next-generation gene sequencing technology and multi-omic capabilities as key areas of focus in this investment.
Samsung’s Focus on Health Technologies
The company noted that this investment aligns with its growth objectives in precision medicine and digital health technologies. Roh Tae-moon, Co-CEO of Samsung Electronics responsible for mobile businesses, said that combining the company’s expertise in artificial intelligence, medical devices, and digital health with Element’s genomics analysis technology could contribute to the future of personalized medicine.
Multi-omics is defined as a method that simultaneously analyzes multiple types of biological data such as DNA, RNA, and proteins. This approach offers a more comprehensive view of how genetic information functions within living organisms.