SAGA Diagnostics Secures $4.1M Series A Funding to Advance Ultrasensitive Liquid Biopsy for Cancer

VCBeat (WeChat ID: vcbeat) learned from foreign media that SAGA Diagnostics recently announced the completion of a $4.1 million Series A financing round. The round was led by Hadean Ventures, with participation from Fårö Capital and the Gunnar Nilsson Cancer Foundation. The funds will be used to accelerate the research, development, and promotion of SAGA’s test kits, as well as to conduct prospective clinical studies, thereby advancing the development of ultra-sensitive cancer liquid biopsy technology.

SAGA Diagnostics is a personalized cancer genomics and disease monitoring company, primarily providing molecular genetic testing services for tissue biopsies and non-invasive “liquid biopsies.” SAGA Diagnostics offers testing services to pharmaceutical companies, scientists, and biomedical laboratories to stratify patient populations, enabling more precise monitoring of patient treatment responses. Leveraging proprietary technology to analyze circulating tumor DNA (ctDNA), SAGA’s platform delivers unique ultra-sensitivity in patient testing. This technology facilitates patient stratification, diagnosis, and monitoring of cancer treatment responses, as well as the identification of disease recurrence.

“SAGA Diagnostics CEO Lao Saal stated, ‘We are delighted that Hadean Ventures, the premier life sciences venture capital firm in the Nordic region, has invested in us. We look forward to collaborating with the Hadean team to usher in a new era of cancer diagnostics and help cancer patients.’”

Ingrid Teigland Akay, Managing Partner at Hadean Ventures, stated, “SAGA is a Nordic company with world-class advanced technology. We are proud to partner with SAGA and look forward to collaborating with its team to further develop more solutions to address global challenges in the healthcare sector.”

“Walter Stockinger, Managing Partner at Hadean Ventures and newly appointed board member of SAGA Diagnostics, stated, ‘We believe that liquid biopsy will increasingly become a critical technology in cancer treatment. SAGA’s proprietary technology distinguishes it in the field of cancer detection and prevention, which successfully attracted our investment.’”

On March 15, 2018, SAGA Diagnostics raised €1 million in seed funding. To date, the company’s total fundraising has reached $5.5 million.

Hadean Ventures is a life sciences investment firm that backs projects across Europe, with a particular focus on the Nordic region. The company maintains offices in Oslo and Stockholm and collaborates with world-class academic institutions and startup hubs in the region.

Fårö is an Argentine company with over 10 years of experience in the development and operation of integrated projects in the agribusiness sector. Fårö possesses extensive expertise in agribusiness and is committed to the efficient use of land resources in short- and medium-term intensive production systems.

Gunnar Nilsson, established in 1979, has provided investment for dozens of cancer research and treatment projects. Its founder, who underwent intensive chemotherapy and radiotherapy for testicular cancer, initiated the establishment of the Gunnar Nilsson Cancer Foundation during the final period of his life.

(Compiled by Qu Dandan)