Samsung Invests $110 Million in the Future of Cancer Detection

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Samsung has completed a $110 million investment in healthcare company GRAIL. The two copmany aims to to roll out the early cancer detection test in several Asian markets. This shows the Korean firm’s increasing push for preventive diagnostics.

Samsung invests in GRAIL to support Galleri cancer test expansion

Last year, Samsung announced a strategic collaboration with GRAIL to support its Galleri, a multi-cancer early detection (MCED) test. This partnership intends to commercialize the test in South Korea while bringing it to more Asian regions, including Japan and Singapore. However, regulatory approvals will play a key role in the expansion effort.

GRAIL has now announced that Samsung affiliates, including Samsung C&T Corporation, purchased its shares worth $110 million. The shares were bought at a price of $70.05 each. “We are pleased to complete this financing and look forward to deepening our strategic collaboration with Samsung as we work to bring Galleri to patients in Asia,” said Aaron Freidin, Chief Financial Officer of GRAIL.

GRAIL will continue performing initial testing at its clinical laboratory in Research Triangle Park, North Carolina. For the uninitiated, the Galleri test screens for more than 50 types of cancer. It can detect many cancers that presently do not have routine screening tests. These include pancreatic, ovarian, and liver or bile duct cancers.

Galleri test uses a blood sample to detect cancer signals. Clinical studies show that the test can detect cancer at earlier stages, including stages I to III, and reduce Stage IV diagnoses. As a result, patients can get treatment that may still cure the disease.

“We are excited to bring the benefits of innovative screening technologies to more people in South Korea and Asia, and believe this partnership will bring us one step closer to GRAIL and Samsung C&T’s shared goal of transforming cancer care through earlier detection,” said Jaywoo Kim, Executive Vice President of Life Science Business at Samsung C&T.

Written by

Binay Konwar

Binay Konwar started his blogging journey in 2014 and has since written plenty of tech articles. At present, he is working as a News Writer at SammyGuru, covering everything about Samsung. He holds a Master's degree in Mathematics, but his real passion lies in tech and writing. In his free time, he enjoys playing chess and watching movies.

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