South Korea's Samsung C&T (SCT), Samsung Electronics (SEC), and US-based GRAIL, Inc. have signed a binding Letter of Intent for a strategic collaboration to bring GRAIL’s Galleri multi-cancer early detection (MCED) test to key Asian markets.
SCT and SEC have also agreed to invest $110 million into GRAIL, a healthcare company whose mission is to detect cancer early when it can be cured, at a price of $70.05 per share of common stock.
Subject to final execution of definitive agreements, GRAIL and SCT will work as exclusive partners to commercialize the Galleri test in South Korea, with a possible extension into other Asian geographies, including Japan and Singapore. SCT will undertake key activities to drive adoption of Galleri . Initially, tests will be performed in GRAIL’s clinical laboratory in Research Triangle Park, North Carolina.
In addition, SEC and GRAIL intend to explore potential strategic and operational collaborations such as supporting longitudinal genomic-lifestyle clinical research, and the integration of SEC’s health data platform with GRAIL’s technologies and data.
Commercial operations will begin soon after execution. Within South Korea, and potentially Japan and Singapore, GRAIL will partner with SCT as its sole distributor, subject to certain requirements, and GRAIL’s Galleri test will be the exclusive MCED test distributed by SCT.
