Samsung becomes largest shareholder Element Biosciences

Samsung Electronics>>> has become the largest shareholder in Element Biosciences>>>, a U.S. genetic analysis equipment maker, by investing an additional $175 million in its Series E funding round. This investment, which brings Samsung Electronics>>>' stake to over 20%, aims to strengthen its health-management services tied to Galaxy smartphones and wearable devices. Samsung Electronics>>> plans to combine Element Biosciences>>>' DNA sequencing and multiomics technologies with its AI and digital health expertise to advance personalized healthcare. Element Biosciences>>> will use the funds to accelerate the commercialization of its next-generation sequencing and multiomics ecosystem. This move follows Samsung Electronics>>>' previous acquisitions in digital health, such as Sonio>>> and Xealth>>>, underscoring its commitment to expanding its presence in the rapidly growing precision medicine market, which is projected to reach $266.63 billion by 2034.