Samsung C&T, Samsung Electronics, and GRAIL, Inc. (GRAL), Thursday announced that they have signed a binding Letter of Intent for a strategic collaboration to bring GRAIL's Galleri multi-cancer early detection or MCED test to key Asian markets.
On the Nasdaq, GRAL shares are trading 11.88% high at $84.49.
In addition, Samsung C&T and Electronics have also agreed to invest $110 million at a price of $70.05 per share of common stock into GRAIL, a healthcare company whose mission is to detect cancer early when it can be cured. The investment is expected to close in early 2026.
With the final execution of definitive agreements, GRAIL and SCT will work as exclusive partners to commercialize the Galleri test in South Korea, which may end extent into other Asian geographies, including Japan and Singapore.
During this, Samsung C&T will perform the key activities that drive the adoption of Galleri. And in the initial phase Initially, tests are to performed in GRAIL's clinical laboratory in Research Triangle Park, North Carolina.
GRAIL will also partner with Samsung C&T as its sole distributor, subject to certain requirements, and GRAIL's Galleri test will be the exclusive MCED test distributed by Samsung C&T.
In addition, Sir Harpal Kumar, President, added that Grail looks forward to partner with Samsung to bring multi-cancer early detection to Asia, beginning in South Korea.He also said that Samsung's significant equity investment strengthens balance sheet and provides further cash runway to advance through key milestones like securing reimbursement for Galleri in the U.S. and key international markets.
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