SAN DIEGO and SHANGHAI, Dec. 15, 2020 /PRNewsCentre/ — 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".
About Singlera Genomics:
Singlera Genomics Inc., a company focusing on non-invasive genetic diagnosis, was co-founded in July 2014 in San Diego, California. The company currently has R&D centers and business operations in both La Jolla, California, and Shanghai, China. Singlera has proprietary technologies in single cell sequencing, DNA methylation, and bioinformatics.
About CICC Kai Tak Fund
CICC Kai Tak (Xiamen) Innovative Biomedicine Equity Investment Fund ("CICC Kai Tak Fund") is an equity investment fund of CICC Capital Operations Co., Ltd. (hereinafter referred to as "CICC Capital") focusing on innovative medicine and biotechnology. It is a biopharmaceutical equity fund managed by CICC Capital, a market leader in terms of professionalism, scale and brand reputation. It is also the first innovative medicine dedicated equity fund initiated by a Chinese securities company.
About Detong Capital
Detong Capital is a professional private equity fund that ranks among the best in China, and currently manages close to RMB 20 billion of assets. In recent years, six of its portfolio companies were successfully listed in different exchanges, and a number of early-stage companies we invested have made major technological breakthroughs in medical and healthcare field, including Microchip Technology, the first innovative drug company listed on the Science and Technology Innovation Board. Detong Capital is also one of the first investment institutions to establish strategic partnerships with many local governments and powerful industrial groups, providing full range of services and support for the invested companies.
About Furong Investment
Furong Investment is a professional investment fund initiated and established by Shanghai Furong Investment Co., Ltd. focusing on the industrialization of scientific and technological achievements. Shanghai Furong Investment Co., Ltd. is a technology finance and innovation and entrepreneurship platform initiated by the Ningbo Research Institute of Fudan University. It takes full advantage of Fudan University’s strong talent, scientific research, academic and clinical resources to promote the industrialization of related scientific and technological achievements and high-level talents; and to serve the national innovation-driven development strategy and Shanghai’s construction of a global influential science and innovation center.
Singlera Genomics Contact：
Yvonne Jia: (86)-13564304046
Yvonne.jia@singleragenomics.com
SOURCE: Singlera Genomics
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