Endofotonics announced that it has secured an investment of S$12 million led by eminent healthcare investors Mr Tony Tan Choon Keat, Chairman of Singapore Medical Group (SMG) and Founding Managing Director of Parkway Holdings, and Dr Beng Teck Liang, Chief Executive Officer and Executive Director of SMG.

The funds will be used to drive commercialization of its early gastric cancer detection system, SPECTRA IMDx™, in Asia Pacific and to expand the coverage of its cancer detection technology to other organs.

Endofotonics Pte Ltd is a MedTech company founded in 2013 by Professor Lawrence Ho, a senior consultant gastroenterologist with the National University Hospital in Singapore and is currently led by CEO, Mr Peter Cheng, COO, Mr Chew Jing Ming and Lead Optical Specialist Dr Harsono Cahyadi.

The 12-men core team has successfully developed the SPECTRA IMDx™ system which enables real time detection of early gastric cancer during endoscopy. This is a world's first in miniaturizing and embedding Raman spectroscopy within an optical probe which can fit through an endoscope. Coupled with proprietary artificial intelligence, SPECTRA IMDx™️ helps doctors identify early cancer lesions by analyzing molecular changes that typically occur beyond the stomach lining. Such cancer lesions may not be easily detectable visually. SPECTRA IMDx™ is a new and unique solution for timely medical intervention.

Endofotonics also targets to launch its SPECTRA IMDx™ system in Europe and selected countries in Asia in 2021.