SAN DIEGO and SHANGHAI, Dec. 15, 2020 /PRNewswire/ — Singlera Genomics Inc. today announced that it raised $150 million in Series B financing. This round of financing was led by the CICC Kai Tak Innovative Biomedicine Fund, and co-led by Detong Capital and Furong Investment. The new group of investors also include Huamei International, Linden Asset Group, Wuxi Capital, FutureX Skyline Capital, Shanghai Free Trade Zone Fund, and initial investors from the Series A round such as Greenpine Capital, Prosperico Ventures, and Proxima Ventures joined with follow-on investment. Singlera will utilize this round of financing mainly to expand the company’s early cancer screening product research and development pipeline and focus on promoting product registration and commercialization, as well as expanding prospective studies into pan-cancer early screening.
Singlera was established in 2014 with a commitment to develop the next generation of genetic testing and molecular diagnostic technologies. By focusing on the development and application of non-invasive early screening and diagnosis technology, the company developed a patented methylation detection platform for early tumor diagnostics and prevention. The series B round of financing demonstrates Singlera’s strong scientific technology research and development strength and broad commercial development prospects.
In July 2020, Singlera and Fudan University published groundbreaking scientific research results, which used Singlera’s circulating tumor DNA (ctDNA) methylation multi-cancer screening technology PanSeer® to validate early cancer detection in a large population cohort. After this round of financing, Singlera Genomics will continue to carry out large-scale pan-cancer early screening prospective studies.
Mr. Johny Zhang, co-founder and CEO of Singlera, said in a statement “we thank investors for their trust and support. I am honored that the innovative R&D, clinical transformation, and commercialization capabilities of Singlera have been recognized by top investors. This round of financing will help us further expand our product system and strengthen our strategic advantages and marketing capabilities in the field of early tumor screening and liquid biopsy. Cancer has been a major disease that impacts the entire world. Since its establishment 6 years ago, Singlera has been aiming to overcome early cancer screening and diagnosis. It has made a series of major breakthroughs in cancer early screening and early diagnostic technology. The next priority is to accelerate the commercialization of products so that these innovations can be applied to cancer prevention and treatment for hundreds of millions of people.”
“Singlera has been committed to building an open and diversified ‘industry-university-research-medicine’ collaborative innovation ecosystem. In the past few years, we have cooperated with dozens of domestic and international scientific research institutes, hospitals and Pharmaceutical companies have carried out extensive cooperation, which has laid a huge advantage for us in basic research and application results transformation of early tumor screening and liquid biopsy,” Professor Yuan Gao, co-founder and scientific advisor of Singlera, said in a statement. “We have developed early cancer screening and diagnostic technologies and products covering a variety of cancer types including lung, colorectal, liver, stomach, esophageal, pancreatic, and thyroid. This round of financing will help us carry out large-scale prospective studies and clinical trials”.
Author / source: Singlera Genomics / https://www.prnewswire.com/news-releases/singlera-genomics-raises-150-million-in-series-b-financing-to-promote-the-development-and-commercialization-of-early-cancer-screening-products-301192505.html