Samsung Electronics announced its strategic investment in Element Biosciences, a US-based DNA analysis equipment company. This move aligns with Samsung’s broader strategy to integrate advanced DNA sequencing technology with its artificial intelligence (AI) and information technology (IT) capabilities, aiming to enhance the accuracy and reduce the costs of DNA sequencing.
Founded in 2017 in San Diego, Element Biosciences has emerged as a key player in the DNA sequencing industry, known for its high-accuracy, cost-effective solutions. The company’s mid-sized DNA sequencing device, Aviti, launched in 2022, has further solidified its market position. DNA sequencing is pivotal for precision medicine, enabling more effective prediction, diagnosis, and treatment of diseases through genetic insights.
Recently, Element secured a Series D investment of $277 million, with Samsung among the investors. This funding round will support Element’s expansion, product development, and market entry initiatives. Samsung’s participation highlights its commitment to leveraging bio-sector opportunities.
Through this investment, Element plans to utilize Samsung’s AI and IT expertise to enhance DNA sequencing accuracy and cost-efficiency, anticipating significant synergies in precision medicine research. Samsung aims to integrate Element’s technology with its own AI capabilities, medical devices, and digital health technologies, creating new business opportunities in the burgeoning field of precision medicine.
This investment marks Samsung’s continued expansion in the bio-healthcare sector, following a recent NT$72 billion investment by its affiliates in the US Flagship Pioneering Fund VIII. This partnership underscores the growing importance of DNA sequencing and precision medicine in global healthcare innovation.