Samsung Electronics has joined other investors including Fidelity and Foresight Capital in the US company's $277 million Series D round, Yonhap news agency reports.
The South Korean tech giant said the investment will help it explore new business opportunities across a range of sectors, from medical devices to digital health, by combining Element Bioscience's DNA analysis technology with its AI capabilities, medical devices and digital health technologies .
Samsung Vice Chairman Han Jong-hee said, "Their products set a new industry standard and are foundational to the next wave of organic innovation." “We are incredibly excited by Element's vision of making precision medicine affordable and impressed by the team they have built together.”
Founded in 2017, Element Bioscience is known for disruptive DNA sequencing and multi-omics technologies for the research market. Its sales last year were $25 million.
DNA sequencing is a technique that determines the exact sequence of nucleotides or bases in a DNA molecule. The sequence of bases, often called the blueprint of life, encodes biological information that cells use to develop and operate.
In the future, DNA sequencing data will be combined with clinical data from hospitals and data from everyday life, such as sleep and exercise, to enable personalized health care.
The South Korean tech giant said the investment will help it explore new business opportunities across a range of sectors, from medical devices to digital health, by combining Element Bioscience's DNA analysis technology with its AI capabilities, medical devices and digital health technologies .
Samsung Vice Chairman Han Jong-hee said, "Their products set a new industry standard and are foundational to the next wave of organic innovation." “We are incredibly excited by Element's vision of making precision medicine affordable and impressed by the team they have built together.”
Founded in 2017, Element Bioscience is known for disruptive DNA sequencing and multi-omics technologies for the research market. Its sales last year were $25 million.
DNA sequencing is a technique that determines the exact sequence of nucleotides or bases in a DNA molecule. The sequence of bases, often called the blueprint of life, encodes biological information that cells use to develop and operate.
In the future, DNA sequencing data will be combined with clinical data from hospitals and data from everyday life, such as sleep and exercise, to enable personalized health care.
