Clearbridge biomedics inks pre-ipo funding, moves towards developing end-to-end diagnostic tests

  • The pre-IPO funding round attracted investments from oncology medical professionals as well as investors focused in healthcare and biotechnology
  • Funds will be used for business expansion, technology development, talent recruitment and IPO-related expenses to develop end-to-end cancer diagnostic tests
  • Barring unforeseen circumstances, the Company’s IPO is expected to be launched in the last quarter of 2018
Singapore-based medical technology company, Clearbridge BioMedics Pte (“Clearbridge BioMedics” or “the Company”), a cancer diagnostics solutions company, is pleased to announce that it has attracted S$6.6 million in pre-IPO funding.

Pioneering patented, award-winning microfluidics technology, Clearbridge BioMedics is leading the advancement of non-invasive liquid biopsy for real time analysis of cancer cells, providing vital and accurate information for higher standard of healthcare treatment in an era of precision medicine. In addition, unlike conventional diagnostic treatments, Clearbridge BioMedics’s cancer diagnostics solutions can potentially lower medical costs and at the same time, reduce inconvenience for patients.

This pre-IPO funding follows major milestones the Company has achieved, including:
–           Spin-off from National University of Singapore and Singapore-MIT Alliance for Research and Technology (SMART Centre), backed by the Singapore government’s National Research Foundation
–          Pioneered a novel method for isolating cancer cells from a simple standard blood draw through technology that is non-invasive, while providing real-time information on cancer
–          Successful commercialization of its ClearCell FX1 System in 2015 with global deployments in leading cancer institutes and hospitals
–          Attained various industry certifications and registrations such as Europe’s CE IVD certification, United States’ US-FDA Registration, and China’s CFDA Registration via our Chinese partner
–          Expansion of ClearCell®FX1 System to EMEA and APAC regions through partnerships with 12 new distributors

Clearbridge BioMedics is leading a transformation around cancer treatments focused on non-invasive liquid biopsy. This enables real-time analysis of wholly intact cancer cells from a standard blood draw, enabling medical professionals to better understand and manage their patients, and potentially improving cancer disease management and outcomes. This pre-IPO funding will enable us to accelerate our growth and create a differentiated, cost-effective and sustainable model of diagnostic solutions in Asia. Barring unforeseen circumstances, we look forward to launching our IPO in the last quarter of 2018.” said Mr Johnson Chen, Chairman and Founder of Clearbridge BioMedics.

With a veteran leadership team who bring together strong business, clinical, and engineering capabilities to execute on a unique core technology and scalable business model, Clearbridge BioMedics is a spin-off from the National University of Singapore / SMART MIT and it is the first incubatee of Clearbridge Accelerator(now known as Clearbridge Health Limited [SGX:1H3], a company listed on the Singapore Exchange), a high-technology incubator backed by the Singapore Government’s National Research Foundation and Enterprise Singapore.