CBC Group's R-Bridge Healthcare Fund has announced $40 million structured financing transaction with Mirxes, a Singapore-based miRNA technology company specialising in cancer early detection and precision medicine. The financing will provide critical support for Mirxes' ambitious growth and expansion into key global markets.
Mirxes' proprietary product, GASTROClear, is the world's first and only In Vitro Diagnostics ("IVD") product that has obtained regulatory approval for gastric cancer screening. Furthermore, Mirxes' recently completed 9,472-strong prospective clinical trial in China demonstrated superior performance on the safety and effectiveness of GASTROClear as a novel, accurate and accessible screening solution for gastric cancer.
Mirxes continues to expand its innovative miRNA technology platform, supported by an industry-leading portfolio of over 90 patents and applications. Mirxes is also developing diagnostic solutions for lung, liver, and colorectal cancer, with a strong focus on ramping up operations in high-growth Asia Pacific markets, including Southeast Asia, China and Japan.
The $40 million synthetic royalty-backed financing provided by R-Bridge is long-term with flexible and customised repayment schedule to meet Mirxes' near-term strategic priorities. Proceeds from the financing will further accelerate its commercialization efforts in new markets and enable further innovation in its RNA diagnostic technologies.
As the largest healthcare-dedicated asset management firm in Asia, CBC Group manages over $9 billion of assets. Founded in February 2020, R-Bridge is Asia's first and only healthcare-dedicated structured financing fund, specialising in providing financing solutions backed by royalties and other cash flows.
