NEW YORK (GenomeWeb) – Singlera Genomics said today that it has raised $60 million in Series A+ financing led by Green Pine Capital Partners and Prosperico Ventures.
La Jolla, California- and Shanghai-based Singlera said that it will use the funds to help expand the development and commercialization of its non-invasive genetic tests for early-stage cancer detection and to fund clinical validation studies. The firm said that it will also use the funds to further expand its research facilities and its TitanSeq and Monod platforms into new product lines.
Singlera has developed proprietary technologies for products and services related to the analysis of cell-free DNA for cancer screening, diagnosis, and personalized treatment. The firm noted that it has made progress on applying high-throughput sequencing of methylated circulating tumor DNA to the detection and diagnosis of early-stage cancer.
Yuan Gao, chairman of Singlera, said in a statement that the new funding will give the firm "significant runway" to continue to advance its research and development programs.
"With this financing, we believe that the company will accelerate in its pipeline and business development opportunities," Qian Tingzhi, managing partner of Prosperico Venture Partners, said in a statement.
UCF Medical Investment, Jointown Pharmaceutical Group, Lilly Asia Ventures, and others also participated in the funding round.