The San Diego-based company founded in 2017 is known for its high-accuracy, cost-effective DNA sequencing technology. Element's flagship product, the mid-sized DNA sequencing machine AVITI, was launched in 2022. The company aims to expand globally and develop new technologies in the field.
DNA sequencing, a process that reads the base sequence of DNA, is crucial for understanding genetic variations and characteristics. This technology has significant potential in precision medicine, enabling genetic trait identification, disease prediction, early detection, and personalized treatment development.
The investment is expected to create synergies between Samsung's AI/IT capabilities and Element's DNA sequencing technology. Element plans to improve accuracy and reduce costs in data-driven precision medicine research by leveraging Samsung's expertise.
For Samsung, this strategic move opens new business opportunities in medical devices and digital health. The collaboration could lead to the development of personalized medical services that combine DNA sequencing data with clinical and lifestyle information.
Both companies anticipate exploring new areas of cooperation, with Samsung aiming to integrate Element's DNA analysis technology into its existing medical device and digital health portfolio.
