Singlera Genomics Raises $60 Million in Series A+ Financing
LA JOLLA, Calif., March 27, 2018 /PRNewswire/ -- Singlera Genomics, a non-invasive genetic diagnostics company that focuses on early-stage cancer detection, today announced that it has successfully secured a US$60 million Series A+ financing round led by Green Pine Capital Partners and Prosperico Ventures with participation from new and existing investors, UCF Medical Investment, Jointown Pharmaceutical Group, and Lilly Asia Ventures among others.
Based in La Jolla and Shanghai, Singlera has developed proprietary technologies related to the analysis of cell-free DNA. Singlera's main products and services include cancer screening, diagnosis and personalized treatment. Singlera is striving to improve clinical outcomes for cancer patients through early-stage detection and accurate and informative cancer diagnoses. Singlera has made remarkable progress on applying high-throughput sequencing of methylated circulating tumor DNA (ctDNA) to detecting and diagnosing early-stage cancer.
The funds will help Singlera expand the development and commercialization of its non-invasive genetic tests for early-stage cancer detection and clinical validation studies. Singlera will also use the funds to further expand its research facilities and its TiTanSeq™ and MONOD™ platforms into new product lines that address early cancer detection, diagnosis and personalized treatment.
Dr. Yuan Gao, Chairman of Singlera Genomics, said "We are grateful for the continued support of our existing investors, and we welcome the new investors to the Singlera family. Singlera's proprietary technologies such as TiTanSeq™ and MONOD™ could substantially enhance the accuracy of cancer detection at early stages and significantly improve patients' survival chances. This new funding will give us significant runway to continue to advance our innovative research and development programs, and we are poised to become the world leader in early-stage cancer detection."
"We are excited to continue to support Singlera Genomics to help the company continue to strive in the field of early-stage cancer detection," said Mr. Luo Fei, Managing partner, Green Pine Venture Partners. "Singlera is working to change the paradigm of cancer detection and may lead to important advances in oncology."
"We've been very impressed with the strength of their management team, proprietary technologies and their commitment to cancer early detection," said Mr. Qian Tingzhi, Managing Partner, Prosperico Venture Partners. "With this financing, we believe that the company will accelerate in its pipeline and business development opportunities."
Singlera Genomics Inc. (www.singlera.com)
Singlera Genomics Inc., a company focusing on non-invasive genetic diagnosis, was co-founded in July 2014 in San Diego, California by Yuan Gao, PhD, Professor Kun Zhang (University of California at San Diego), Mr. Jiangli Zhang (CEO), Mr. Qiang Liu (COO), and Dr. Rui Liu (CTO). The company currently has R&D centers and business operations in both La Jolla, California, and Shanghai, China. Singlera has proprietary technologies in single cell sequencing, DNA methylation and bioinformatics.
Singlera Genomics is committed to the application of next generation sequencing to diagnose genetic diseases and disorders. Singlera Genomics develops non-invasive genetic tests using proprietary technologies including single cell sequencing, DNA methylation sequencing and machine learning. Singlera Genomics' products address the continuing needs for early-stage cancer detection, personalized cancer treatment, prenatal diagnosis, and pre-implantation genetic screening. Additionally, Singlera Genomics provides customized next generation sequencing services to pharmaceutical companies and medical research institutions. It has operation centers in the United States and China.
Green Pine Capital Partners (www.pinevc.com.cn)
Green Pine Capital Partners (GPCP) was established in 2007 in Shengzhen, China. With the vision of "Becoming one of the most valuable investment institutions", Green Pine Capital is playing active roles in funding & nurturing early to high growth-stage innovative enterprises. Green Pine Capital is ranked among the highest performing VC/PE firms in China, our core investment team have over 20 years of experience on venture capital investments.
Prosperico Ventures (www.prosperico-venture.com)
A Shanghai-based venture capital fund specialized in healthcare investments, Prosperico Venture has backed more than 30 companies growing their business both in and outside of China across drug discovery & development, diagnostics, innovative medical devices and healthcare service. Major portfolios of Prosperico Venture include Mab-Ventures, Pharmalegacy, BioNano, BioMedomics, U-Dental, China Cord Blood Corporation, etc.
Lilly Asia Ventures (www.lillyasiaventures.com)
Lilly Asia Ventures, founded in 2008 and headquartered in Shanghai, is a life sciences and healthcare sector focused venture capital firm, focusing predominantly on biopharmaceutical, med tech and diagnostics investments in Asia, particularly in China. As a leading biomedical venture fund, Lilly Asia Ventures provides wise capital, industry expertise, and global resources to its portfolio companies to accelerate their growth.
SOURCE Singlera Genomics
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