Lucence Secures $20 Million Series A Funding to Advance Liquid Biopsy for Early Multi-Cancer Detection

VCBeat (WeChat ID: vcbeat) learned via Business Wire that on November 19, 2019, local time, Singapore-based genomic medicine company Lucence (Lucence Diagnostics) announced the completion of a $20 million Series A financing round. The round was led by IHH Healthcare, one of the world’s largest integrated private healthcare groups, with participation from SGInnovate, Heliconia Capital (a subsidiary of Temasek Holdings), and existing investors Lim Kaling and Koh Boon Hwee.

This round of financing will enable Lucence to extend its liquid biopsy technology to more patients in Asia and North America, thereby facilitating access to personalized treatment. In addition, Lucence will initiate new prospective clinical studies to evaluate its technology for the early detection of multiple cancer types.

Lucence is a genomic medicine company focused on precision medicine. In 2016, Lucence was spun off from the Agency for Science, Technology and Research (A*STAR) in Singapore. In 2018, the company launched its flagship product, the next-generation sequencing assay LiquidHALLMARK®, the first and only clinical blood-based sequencing test capable of simultaneously detecting cancer-related gene mutations and oncogenic viruses. To date, this test has been used by oncologists in the diagnosis, monitoring, and treatment selection for more than 1,000 cancer patients across Asia.

LiquidHALLMARK® detects clinically relevant mutations across 14 cancer types, including lung cancer, breast cancer, colorectal cancer, pancreatic cancer, nasopharyngeal carcinoma, and liver cancer. The test is powered by Lucence’s core molecular watermarking technology—AmpliMARK™—to enhance the accuracy and depth of sequencing results. In 2019, Lucence’s central laboratory in Singapore became the first in Southeast Asia to obtain CLIA and CAP certifications, enabling the delivery of LiquidHALLMARK® to physicians and patients in the United States.

Dr. Minhan Chen, Founder and CEO of Lucence, stated, “Our mission is to alleviate the suffering of cancer patients worldwide through early cancer detection. As a medical oncologist, I have spent over a decade working in both clinical and laboratory settings, dedicated to advancing toward the goal of overcoming cancer through early screening. Our research findings, such as the method for identifying circulating tumor-endothelial cell clusters, have the potential to transform the field of liquid biopsy, providing patients with better non-invasive cancer screening and analysis. The partnership with IHH Healthcare will accelerate our efforts in early cancer detection and effective cure, delivering this much-needed liquid biopsy technology to patients in Asia and the United States.”

Dr. Kelvin Loh, CEO of IHH Healthcare, stated, “Liquid biopsy has been a game-changer for us. We are committed to delivering better, value-driven treatment outcomes for cancer patients through precise therapeutic choices and more affordable care services. Our investment in Lucence will provide IHH patients with improved access to this advanced technology. IHH aims to leverage greater synergies with Lucence to jointly develop patient-centric solutions and seek opportunities to enhance our precision medicine capabilities alongside other like-minded partners across the 10 countries where we operate.”

IHH Healthcare Berhad, established in 2010, is a leading provider of premium integrated healthcare and the largest private healthcare group in Asia. With over 55,000 employees and 15,000 licensed beds across 80 hospitals in 10 countries worldwide, the Group is committed to delivering comprehensive integrated medical services and extensive ancillary services, spanning from clinics and hospitals to quaternary care.

(Compiled by Wang Fang)