Thursday, 02 April 2020

Lucence raises $20M to advance liquid biopsy

28 November 2019 | News

The round was led by IHH Healthcare, one of the world’s largest integrated private healthcare groups

image credit- shuttershock.com

image credit- shuttershock.com

Lucence, a Singapore based genomic medicine company that invents blood-based tests for cancer screening and treatment selection, has announced the close of $20 million in Series A funding.

The round was led by IHH Healthcare, one of the world’s largest integrated private healthcare groups. SGInnovate, together with existing investors Temasek Holdings subsidiary Heliconia Capital, Lim Kaling, Koh Boon Hwee and others, also participated in the round.

This funding will enable the company to provide its liquid biopsy technology to more patients across Asia and North America for personalized treatment selection. Lucence will also embark on new prospective clinical studies to evaluate its technology for the early detection of multiple cancers.

Lucence spun out of Singapore’s Agency for Science, Technology and Research (A*STAR) in 2016. In 2018, the company introduced its flagship next-generation sequencing test, LiquidHALLMARK®, the first and only clinical sequencing blood test that detects both cancer-related gene mutations and cancer-causing viruses within a single assay.

The test has been used by oncologists in cancer diagnosis, monitoring and treatment selection for over 1,000 patients in Asia to date. LiquidHALLMARK® detects clinically relevant mutations across 14 cancer types, including lung, breast, colorectal, pancreatic, nasopharyngeal and liver cancers.

The test is based on Lucence’s core molecular watermarking technology, AmpliMARK™, for improved accuracy and depth in sequencing results. In 2019, Lucence’s Singapore central laboratory became the first laboratory in Southeast Asia to be CLIA-certified and CAP-accredited in order to bring LiquidHALLMARK® to physicians and patients in the United States.

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