Increasing technological advancements in the healthcare sector has enabled researchers to develop cutting edge methodologies to detect early-stage cancer. Speculating its importance, investors across the world are pouring in funds to further this cause.
Citing a similar instance, Lucence Diagnostics Pte Ltd., a genomic medicine firm focused on personalizing cancer care, recently raised USD 20 million in Series A funding round led by leading integrated private healthcare group IHH Healthcare.
As per sources, SGInnovate along with existing investors Lim Kaling, Temasek Holdings subsidiary Heliconia Capital, Koh Boon Hwee and others, participated in the round. With this funding, Lucence would provide its liquid biopsy technology to patients across North America and Asia for personalized treatment selection.
The company would also utilize this investment to embark on new prospective clinical studies to assess its technology for the initial stage detection of multiple cancers, cite sources.
According to Dr. Min-Han Tan, MBBS, Ph.D., CEO, and Founder, Lucence, their company’s mission is to reduce worldwide suffering by detecting cancer at an early stage. Lucence’s research discoveries, like the identification of circulating tumor-endothelial clusters, could transform liquid biopsy by enabling better non-invasive cancer screening and profiling patients, claims Tan.
Moreover, its partnership with IHH Healthcare would accelerate the company’s mission to achieve early detection of cancer and cures and widen access to liquid biopsy technology to patients across the United States and Asia.
As per Dr. Kelvin Loh, CEO (Designate) of IHH Healthcare, liquid biopsy would provide value-driven outcomes with precise treatment selections and affordable care to its patients. He said that the company’s investment in Lucence would also provide its patients with better access to this technology.
Moreover, the company is looking to drive greater collaborations with Lucence and develop solutions as well as discover opportunities to sharpen their firm’s precision medicine capabilities with other like-minded partners across its 10-country network.