Want to make an easy million, or 60? Just develop some proprietary genomics technologies for cancer detection and treatment.
Want to make an easy million, or 60? Just develop some proprietary genomic analysis tech for cancer detection and treatment.
Alright, so maybe that isn’t all that easy, but quite a few companies seem to be having success with it these days. One of them, Singlera Genomics, announced this week that it had raised $60 million in what it’s calling a Series A+ round. That builds on the $20 million it raised in its original Series A in 2016.
The company focuses on early-stage cancer detection, diagnosis, and treatment personalization. It has proprietary analysis technologies for cell-free DNA, including a high-throughput sequencing method for circulating tumor DNA. The new funding will go towards the expanding its research facilities and continuing development and commercialization of its offerings.
“Singlera's proprietary technologies such as TiTanSeq and MONOD could substantially enhance the accuracy of cancer detection at early stages and significantly improve patients' survival chances,” Singlera Genomics Chairman Yuan Gao said in a statement, adding that his company is “poised to become the world leader in early-stage cancer detection."
Green Pine Capital Partners and Prosperico Ventures led the funding, with additional contributions from UCF Medical Investment, Jointown Pharmaceutical Group, and Lilly Asia Ventures. Qian Tingzhi of Prosperico said that Singlera’s management team and technologies were impressive.
"With this financing, we believe that the company will accelerate in its pipeline and business development opportunities,” Tingzhi said.
To develop its insights, the company certainly has a cohort to work off of. Just 2 years after its 2014 founding, it announced a collaboration with Fudan University in China which allowed it to search for cancer biomarkers in 200,000 individuals’ samples.
The firm was founded in California, and it established operations in China a year later. It has research and development and business operations in both La Jolla, California and Shanghai. In addition to its early-stage cancer detection technologies, it also provides next-generation sequencing services to pharmaceutical companies.
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