South Korean conglomerates Samsung C&T (KRX: 028260) and Samsung Electronics (KRX: 005930), signed a binding letter of intent with GRAIL, Inc., a Californian healthcare company (NASDAQ: GRAL), for a USD110m equity investment and strategic collaboration to commercialise the Galleri multi-cancer early detection test, GRAIL announced on Thursday.

The parties have agreed that Samsung C&T and Samsung Electronics will make a joint equity investment of USD110mn in GRAIL at USD70.05 per share, subject to definitive agreements and customary closing conditions.

Under the proposed collaboration, Samsung C&T will act as GRAIL's exclusive partner to commercialise the Galleri multi-cancer early detection test in South Korea, with possible expansion into Japan and Singapore.

Samsung Electronics and GRAIL plan to explore strategic and operational collaborations, including longitudinal genomic-lifestyle research and the integration of Samsung Electronics' AI, health data platform, and device ecosystem with GRAIL's genetic data and technologies.

The parties expect to negotiate definitive agreements in good faith and target execution and commercial operations in early 2026.