KUALA LUMPUR, May 17 (Bernama) -- Bluestar Genomics, an innovative company leading the development of next-generation epigenomic approaches to early cancer detection has raised US$70 million in new equity funding. (US$1 = RM4.134)
Led with the increased funding by the current investor, Mattias Westman, founding partner of Prosperity Capital Management, the oversubscribed Series C round includes several existing investors and multiple new investors.
This includes Pathology Asia Holdings Pte Ltd (Pathology Asia), the largest independent medical diagnostics group in Southeast Asia, as well as a venture fund based in San Francisco, CA, and a large, diversified asset manager on the west coast.
According to a statement, VAHOCA Pte Ltd acted as financial adviser to Bluestar Genomics.
Separately, the company announced its Scientific Advisory Board expansion with the appointment of Drs. Felix Feng, professor of radiation oncology, urology, and medicine, University of California San Francisco, and Craig Venter, Ph.D., chairman and chief executive officer of the J. Craig Venter Institute.
With the new appointment, Feng and Venter are joining Alan Ashworth, Ph.D., FRS, president, Helen Diller Comprehensive Cancer Center, University of California, San Francisco.
Series C investments and scientific advisory board membership expansion are largely inspired by Bluestar Genomics’ groundbreaking technology platform that employs state-of-the-art machine learning coupled with the 5-hydroxymethylcytosine as a screening method to detect cancer in multiple organs in men and women.
The company’s novel approach has recently demonstrated positive results in two studies published in Nature Communications and earned the FDA’s breakthrough device designation for the company’s proprietary non-invasive pancreatic cancer detection test.
More details at www.bluestargenomics.com.
-- BERNAMA
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