Samsung Electronics has increased its investment in an American genomics technology company by $175 million, becoming its largest shareholder.

Samsung Electronics announced on Wednesday that it will participate in the expanded Series E funding of US genomics company Element Biosciences, with an additional investment of $175 million, making it the largest shareholder of the company. Samsung Electronics stated in a press release that this investment is another strategic move following its participation in Element Biosciences' Series D funding in July 2024. Samsung Electronics stated that this investment aligns with its strategic goal to expand its business in precision medicine and digital health technology.