Singlera Genomics, which is developing noninvasive genetic tests, raised $20 million in a Series A round. It will use the funding to boost its R&D operations and fast-track the launch of its tumor diagnosis and personalized treatment offerings.
The company will also use the funding toward developing and commercializing its genomic sequencing tests for cancer and other genetic diseases, it said in a statement. Founded in 2014 in San Diego, Singlera has an R&D site in La Jolla, CA, while its business and clinical operations are in Shanghai.
"Singlera's non-invasive genomic sequencing diagnostic technologies could significantly enhance the accuracy of tumor diagnosis and provide powerful guidance for the new treatments,” said Singlera Chairman Yuan Gao in the statement. “This new funding is a strong vote of confidence in our technologies, scientific research and commercial operations from a group of highly respected healthcare investors.”
Its offerings include the OncoAim line of cancer diagnostics, which comprises a lung cancer test that uses RNA-based fusion, a noninvasive common tumors detection kit that uses peripheral plasma samples and a test for cancer mutation hotspots and drug metabolism variants that covers the most common tumor types in the Chinese population. Additionally, Singlera also has a test to detect BRCA1 and BRCA2 gene mutations.
Lilly Asia Ventures led the round, along with Green Pine Capital Partners, CDBI and others.
"We've been very impressed with the strength of their management team, proprietary technologies and their commitment to precision medicine. With our investment and strategic resources, we look forward to working with Singlera to achieve ultimate goal of early detection and prevention of cancer and other severe diseases,” said Fei Chen, Managing partner at Lilly Asia Ventures, in the statement.
- here's the statement
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