Lucence raises $20 million Sequence A for its non-invasive cancer screening know-how
Lucence Diagnostics, a genomic remedy startup that develops non-invasive checks for cancer screening, launched at present that it has raised a $20 million Sequence A led by IHH Healthcare, one in all the world’s finest built-in non-public healthcare teams. Quite a lot of participants included SGInnovate and returning investors Heliconia Capital (a subsidiary of Temasek Holdings), Lim Kaling and Koh Boon Hwee.
The round will likely be used for scaling Lucence’s labs, hiring and making its products commercially available to more patients in Asia and North The United States.
The funding will moreover enhance two prospective clinical trials. One will focal point on its know-how’s sensitivity to actionable variables in late-stage cancer patients, while the assorted will review its use for early-stage detection in numerous types of cancer, including lung, colorectal, breast and pancreatic. Lucence is in the intervening time designing a glimpse that can occupy 100,000 participants to validate its early-stage detection take a look at. It’ll recruit its first affected person all through subsequent One year and launch in the United States and Asia.
Along with its seed funding, this round brings Lucence’s total raised so a long way to $29.2 million.
Lucence’s checks are in the intervening time used by physicians in Southeast Asia and Hong Kong, and it plans to amplify additional in North The United States and East Asia. Its lab in Singapore has bought both CLIA certification and CAP accreditation, which formulation its checks will also also be used by doctors and patients in the United States. It’s a long way moreover in the intervening time constructing a lab in the Bay Build to decrease turnaround times for patients.
Headquartered in Singapore, with areas of work in San Francisco, Hong Kong and Suzhou, China, Lucence was based by CEO Dr. Min-Han Tan, an oncologist, and spun out from Singapore’s Agency of Science, Expertise and Study (A*STAR) in 2016. Two years later, it launched LiquidHALLMARK, which the firm describes as “the predominant and handiest clinical sequencing blood take a look at that detects both cancer-connected genetic mutations and cancer-inflicting viruses with a single assay” and looks for indicators of fourteen types of cancer. The firm says LiquidHALLMARK has been used by oncologists for 1,000 patients in Asia so a long way.
Quite a lot of genomic sequencing startups that personal developed checks that hide for cancer risks and indicators consist of Sanomics, Prenetics, Guardant and Grail. Lucence’s differentiators consist of its proprietary amplicon-sequencing, which examines particular genomic regions for diversifications, including mutations linked to cancer. The firm describes its checks as a “Swiss Military knife,” because it could perchance probably also also be used for cancer screening, diagnoses, therapy selections and monitoring.
In an announcement, Dr. Kelvin Loh, the CEO-designate of IHH Healthcare, acknowledged “liquid biopsy is a sport-changer in our endeavor to provide cancer treatments with better, mark-pushed outcomes through accurate therapy selections and more life like care. Our funding in Lucence will provide IHH patients with better access to this evolved know-how.”