IHH leads $20m round for Singapore science ministry spin-out

Singapore and Malaysia-listed healthcare provider IHH Healthcare led the round. It was joined by SGInnovate, the venture capital arm of the Singapore government’s Infocomm Media Development Authority, and existing investor Heliconia Capital, which is a subsidiary of Temasek Holdings, among others.

Lucence has invented a procedure for non-invasive blood-based tests that detect cancer signals.  Its technology analyzes DNA fragments in the bloodstream that are produced when tumor cells die. The objective is to detect the presence of cancer before typical symptoms emerge and then identify genetic mutations within tumors that can offer guidance as to what treatments would be most effective.

Last year, the company released LiquidHallmark, which it claims is the first and only clinical sequencing blood test that detects both cancer-related gene mutations and cancer-causing viruses within a single assay. The test has been used by oncologists in cancer diagnosis, monitoring and treatment selection for over 1,000 patients in Asia to date.

Lucence is headquartered in Singapore and has offices in San Francisco, Hong Kong, and Suzhou. Earlier this year, its Singapore laboratory was the first in Southeast Asia to win regulatory certification to deliver LiquidHallmark to doctors and patients in the US. The new funding will support a wider rollout in Asia and North America as well as further clinical studies on early detection of cancers.

“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,” Kelvin Loh, CEO designate of IHH Healthcare, said in a statement.

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• Topics
• Southeast Asia
• Healthcare
• Early-stage
• Singapore
• Temasek Holdings