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Genomic Medicine company Lucence raises fund in its Series A round

The Singapore-based genomic medicine company Lucence announced it has secured a total of USD$20 million in its recent Series A round.

Lucence Diagnostics is a genomic medicine company focused on personalizing cancer care. They invent a full spectrum of cancer diagnostics covering early-stage screening to late-stage treatment selection with a special focus on common cancers in Asia.

The company announced today that it secured a USD $20 million in its Series A Funding Round led by one of the world’s largest integrated private health care groups IHH Healthcare.

SGInnovate, Heliconia Capital, Lim Kaling, Koh Boon Hwee and others also participated in the said round making Lucence total fundings to USD $29.2 million.

Lucence develops cutting-edge genomics tests for cancer detection and treatment selection. It develops blood tests that detect cancer more quickly, accurately and cost-effectively. The tests are based on their proprietary amplicon-based liquid biopsy technology, which detects cancer signals in the blood more accurately through amplification.

The company believes in “Every cancer is different, and so is the approach”. Lucence’s vision is “A world without avoidable deaths” and mission is “To achieve early cancer detection, better treatment and less suffering through deep genome intelligence.”

Dr. Min-Han Tan, MBBS, PhD, founder and CEO of Lucence said, “Our mission is to reduce worldwide suffering through early cancer detection. As a medical oncologist, I have worked in the clinic and the laboratory for over a decade, striving towards a world where cancer can be overcome with early screening. Our research discoveries such as the identification of the circulating tumor-endothelial cluster can transform the liquid biopsy field, allowing better non-invasive cancer screening and profiling for patients”.

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Dr. Min-Han Tan (asianscientist.com)

“This partnership with IHH Healthcare will accelerate our work to achieve early cancer detection and effectiveness cures, and expand access to this much-needed liquid biopsy technology to patients across Asia and the United States,” Dr. Tan added.

Dr. Kelvin Loh, Chief Executive Officer (Designate) of IHH Healthcare also commented saying, “Liquid biopsy is a game-changer in our endeavor to provide cancer patients with better, value-driven outcomes through precise treatment selections and more affordable care. Our investment in Lucence will provide IHH patients with better access to this advanced technology. IHH looks to drive greater synergies with Lucence and co-develop solutions for patients, as well as explore opportunities to sharpen our precision medicine capabilities with other like-minded partners across our 10-country network.”

The recent funding will enable the Lucence to provide its liquid biopsy technology to more patients across Asia and North America for personalized treatment selection. Lucence will also plans to enter new prospective clinical studies to evaluate its technology for the early detection of cancers.

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