Singapore, Oct. 21 -- 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 Gallerimulti-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 ...