PHASE Scientific Raises US$34 Million Series A Round to Advance Urine-Based Diagnostic Technology for Early Disease Detection

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May 19, 2025, 21:03 ET

Largest Series A financing round in Asia's diagnostic technology sector since 2019 underscores strong investor confidence in PHASE Scientific's breakthrough diagnostic technology and growth vision.
Investment to accelerate R&D and commercialization of cutting-edge early disease detection technology for multiple cancers, women's health issues, and infectious diseases.

HONG KONG, May 19, 2025 /PRNewswire/ -- PHASE Scientific International Limited ("PHASE Scientific"), a pioneering biotechnology company revolutionizing early disease detection through proprietary urine-based diagnostics, today announced the successful completion of a US$34 million Series A funding round. This represents the largest Series A raise in Asia's diagnostic technology sector since 2019, reflecting robust investor conviction in PHASE Scientific's innovative PHASIFY™ technology and ambitious growth strategy. The funding round is led by a private equity fund managed by Value Partners Group (HKEX: 0806), one of Asia's largest independent asset management firms, with significant backing from new healthcare-focused investors and continued support from existing global backers.

Building on its patented PHASIFY™ urine concentration technology—which captures over ten times more biomarkers than current industry gold standards—PHASE Scientific is the only player advancing a pipeline of urine-based liquid biopsy diagnostics. The company is developing a comprehensive suite of non-invasive tests for early detection of cancers, women's health conditions, and infectious diseases. Unlike traditional invasive screening methods, PHASIFY™ enables convenient, at-home sample collection, empowering proactive health management and preventive care.

PHASE Scientific has demonstrated strong market traction with the successful launch and commercialization of over 30 innovative diagnostic products across multiple health categories, including respiratory, gastrointestinal, women's, sexual, pediatric health, and oncology. To date, the company has distributed more than 100 million tests in over 30 countries and conducted over 8 million laboratory tests worldwide. Building on this commercial success, PHASE Scientific has developed the world's first urine-based HPV test—a major breakthrough that has achieved significant clinical validation and global recognition. In a recent clinical study with Peking University Shenzhen Hospital, the test demonstrated 93.4% sensitivity in detecting CIN2+ lesions—including cervical precancer and cancer—and over 97% concordance with gold-standard physician-collected testing (Roche's Cobas 4800) for HPV types 16 and 18. The innovation earned the Thomas V. Sedlacek, MD, Prize for Best Clinical Research Abstract at the 2025 American Society for Colposcopy and Cervical Pathology (ASCCP) Annual Scientific Meeting and was featured at the Chinese Society for Colposcopy and Cervical Pathology (CSCCP) Conference, reflecting growing international interest and recognition. These results underscore PHASiFY™'s potential to make cervical cancer screening more accessible, comfortable, and user-friendly.

"The successful close of this landmark Series A financing validates the transformative potential of our technology and the growing global demand for accessible, accurate early disease detection," said Dr. Ricky Chiu, Founder, Chairman and CEO of PHASE Scientific. "With this capital, we will accelerate R&D and commercialization efforts to bring a comprehensive suite of next-generation urine-based diagnostics to market. Our mission is to empower millions worldwide with non-invasive, user-friendly testing that can save lives through earlier intervention."

"We are delighted to become a partner of PHASE Scientific as it rapidly grows and addresses critical unmet needs in early disease detection. Its innovative technology represents a paradigm shift, offering an unparalleled combination of clinical precision and patient-centric solutions that accelerates the development of early disease detection. This aligns with our strategy to back category-defining leader with strong management, clear strategic differentiation, and best-in-class healthcare technologies that deliver both societal impact and scalable commercial potential," said Dr. Chuen Yan Leung, Partner (Healthcare Investments) of Value Partners Group.

Founded in 2015, the company is headquartered in Hong Kong SAR with cross-border setup in Southern California, U.S.A. and China's Greater Bay Area, which allows it to leverage the strengths of each region for research, development, and commercialization, positioning PHASE Scientific at the nexus for healthcare innovation on a global stage.

Note to Editor: The global liquid biopsy market, fueled by the demand for non-invasive cancer diagnostics, is forecasted to reach around US$22.69 billion by 2034 at a CAGR of 13.91% from US$7.05 billion in 2025, according to Precedence Research.

About PHASE Scientific

PHASE Scientific is a fast-growing biotechnology company with a mission to inspire a new state of health through innovative diagnostics and healthcare solutions. With operations in the U.S., mainland China, and Hong Kong SAR, PHASE delivers novel diagnostic tools and services for cancer and infectious diseases using proprietary technologies, empowering better disease detection, diagnosis, and management.

Since its founding, the company has been supported by Gates Foundation, US governmental agencies National Science Foundation and National Institute of Health, Ministry of Science and Technology of China, Hong Kong Innovation, Technology and Industry Bureau and Hong Kong Science and Technology Parks. For more information, please visit phasescientific.com.

About PHASIFY™

PHASIFY™ is the world's first urine concentration technology designed for molecular diagnostics, setting a new industry benchmark by capturing approximately 10 times more target analytes from urine specimens compared to the current gold standard. This advanced mechanism enables the concentration and purification of unlimited volumes of urine, dramatically increasing the sensitivity and accuracy of disease detection.

This proprietary innovation uniquely positions PHASE Scientific as the only player in the urine-based liquid biopsy diagnostics field, with proven clinical performance for multi-cancer detection. With a non-invasive and painless approach, PHASIFY™ empowers convenient sample collection, unlocking new possibilities for early, accessible, and comprehensive disease screening and diagnosis.

About Value Partners Group Limited

Value Partners, one of Asia's leading independent asset management firms, seeks to offer world-class investment services and products. Since its establishment in 1993, the Company has been a dedicated, specialist value investor in Greater China and Asia. In November 2007, Value Partners Group became the first asset management firm to be listed on the Main Board of the Hong Kong Stock Exchange (Stock code: 806 HK). In addition to its Hong Kong headquarters, the firm operates in Shanghai, Shenzhen, Singapore and London. Value Partners' investment strategies cover equities, fixed income, multi-asset, alternatives, real estate and quantitative investment solutions, for institutional and individual clients in Asia Pacific, Europe and the United States. For more information, please visit www.valuepartners-group.com.