Samsung Electronics Invests $175M in Element Biosciences' Series E Round

• Funding will support commercialization of sequencing products including AVITI and VITARI systems, plus upcoming launches of AVITI Dx and AVITI24
• Element competes in a gene-sequencing market dominated by Illumina, with Roche expanding through partnerships in next-generation sequencing
• The financing is subject to regulatory approval and will support international expansion and future product development for research, drug development, and diagnostics

Samsung Electronics Invests $175M in Element Biosciences' Series E Round

Element Biosciences, a San Diego-based genetic testing and research company, announced Tuesday it has secured funding in an upsized Series E round, with Samsung Electronics contributing $175 million as a longtime investor. The total round size and company valuation were not disclosed, nor were other participating investors identified.

Key Investment Details:

• Samsung's $175M investment follows Element's $277M Series D round from July 2024
• Transaction pending regulatory approval
• Samsung continues its role as a strategic, long-term investor in the company

Products and Applications:

The funds will support commercialization of Element's gene-sequencing products, including the AVITI and VITARI systems, along with upcoming launches of AVITI Dx and AVITI24. The AVITI sequencing system is benchtop equipment that decodes DNA and RNA for medical research, disease detection, and drug development applications.

Market Context:

The gene-sequencing market remains dominated by Illumina, while Roche has been expanding through partnerships and investments in next-generation sequencing and molecular diagnostics. Element's expanded funding positions it as a growing competitor in this space.

Strategic Use of Funds:

• Expand commercialization of existing sequencing products
• Support international market expansion
• Develop future research, drug development, and diagnostic products

This investment underscores continued interest in genetic testing technology and the competitive dynamics in the molecular diagnostics sector, with Samsung maintaining its strategic position in the biotechnology equipment market through equity investments rather than internal development.