The United States-based healthcare firm GRAIL has closed an equity financing deal in which Samsung affiliates, including Samsung C&T Corporation, invested $110 million through the purchase of GRAIL common stock at $70.05 per share.

In a statement on Friday, GRAIL said the Samsung’s investment aims to support its growth and international expansion objectives.

Aaron Freidin, CFO of GRAIL, said the investment can strengthen the company’s balance sheet and extends its cash runway as it advances priorities including securing regulatory approval and reimbursement for its Galleri multi-cancer early detection test in the United States and expanding access internationally.

As previously announced, GRAIL and Samsung C&T will collaborate to commercialize the Galleri test in South Korea, with potential expansion into additional Asian markets including Japan and Singapore, subject to regulatory approvals. Initial testing will continue to be performed at GRAIL’s clinical laboratory in Research Triangle Park, North Carolina, the United States.

Jaywoo Kim, Executive Vice President of Life Science Business at Samsung C&T, said the investment and strategic collaboration represent a significant milestone in advancing Samsung C&T’s vision of expanding access to early cancer detection. The partnership can bring the two companies closer to their shared goal of transforming cancer care through earlier detection, the executive added.

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