GenoAmp Biotechnology Secures Over RMB 100 Million Strategic Investment from State-Owned Capital to Accelerate Commercialization of Cancer Early Screening

VCBeat (WeChat ID: vcbeat) has learned that on July 5, 2024, Singlera GENOMICS (SHANGHAI) Ltd. (hereinafter referred to as “Singlera GENOMICS”) announced the completion of a strategic financing round exceeding RMB 100 million. This round was led by a consortium of state-owned investors from various levels in Yangzhou City, including Yangzhou Guojin Investment Group Co., Ltd., Yangzhou Dingyi Venture Capital Partnership Enterprise (Limited Partnership), Jiangdu District Xinyuan Industry Investment Group Co., Ltd., Yangzhou Guangling State Owned Assets Investment and Operation Co., Ltd., and Jingkai Investment. The investment fully demonstrates the industry’s high recognition of and strong confidence in Singlera GENOMICS’ development prospects. The funds will further consolidate Singlera GENOMICS’ leading position in the field of early cancer screening and detection, providing robust financial support for the company’s technological R&D, regulatory registration and production, and commercialization efforts.

Since its establishment in 2014, Singlera GENOMICS has served as a leader and promoter of methylation detection technologies, providing full-cycle products and services for risk assessment, early screening and detection, medication guidance, and recurrence monitoring of high-incidence cancers. The company boasts a robust product pipeline covering pan-cancer analysis as well as specific high-incidence cancers, including lung cancer, colorectal cancer, liver cancer, gastric cancer, esophageal cancer, pancreatic cancer, and thyroid cancer.

In May 2024, ChangAiKe®, a combined detection kit for the methylation of human Septin9, BCAT1, IKZF1, BCAN, and VAV3 genes (PCR-fluorescent probe method) independently developed by Singlera GENOMICS, was approved by the National Medical Products Administration (NMPA) and obtained a Class III medical device registration certificate. In May 2023, the company’s early detection technology for pancreatic cancer, PDACatch, received Breakthrough Device Designation from the U.S. Food and Drug Administration (FDA) and has launched Laboratory Developed Tests (LDT) services in the United States in collaboration with third-party clinical laboratories. Furthermore, in the field of multi-cancer early detection, the company’s independently developed GutSeer® technology, which detects blood-based multi-gene methylation for five digestive system cancers, enables simultaneous early screening for gastric cancer, colorectal cancer, liver cancer, esophageal cancer, and pancreatic cancer. This technology holds broad market prospects and significant social value. While continuously strengthening product research and development and regulatory registration, Singlera GENOMICS has also achieved positive results in commercialization and has expanded its international business to more than ten countries and regions, including the United States.

As a star enterprise in China’s early cancer screening industry, Singlera GENOMICS has repeatedly garnered favor and support from renowned investment institutions. In August 2016, the company secured RMB 120 million in Series A financing, led by Lilly Asia Ventures. In March 2018, it raised RMB 350 million in Series A+ financing, co-led by Sinoway Capital and Jingxu Venture Capital. In December 2020, it obtained nearly RMB 1 billion in Series B financing, led by CICC Qide Innovative Biopharmaceutical Fund (under CICC Capital), with Detong Capital and Furong Investment as co-lead investors. In June 2022, it closed RMB 300 million in Series B+ financing, led by Fengshi Capital. This latest injection of state-owned capital further underscores Singlera GENOMICS’ leading position in the field of early cancer screening and detection.

Mr. Zhang Jiangli, Chairman and Chief Executive Officer of Singlera GENOMICS, stated: “Over the past two years, China’s biopharmaceutical industry has faced numerous challenges. The Singlera team has maintained strong strategic focus and commercial resilience, adhering to a combination of global perspective and local practice in China, as well as integrating technological R&D with commercial implementation, thereby achieving remarkable results against the tide. As a biotechnology company, our mission is to help people stay free from the threat of cancer through technological innovation. We sincerely thank both new and existing shareholders for their trust and support, and we look forward to working hand in hand to promote the long-term, healthy development of China’s early cancer screening industry.”