Healthcare Industry News: circulating tumor DNA
News Release - July 26, 2016
CellMax Life Raises $14M in Venture Funding, Launches Precision Cancer Testing Company for Early Detection & Optimal Management of CancerSUNNYVALE, Calif.--(Healthcare Sales & Marketing Network)--CellMax Life, Inc. today announced $9M in series A-1 venture funding, and formally introduced itself as a precision cancer blood-testing company providing comprehensive, personalized multi-biomarker technology platforms. The company will fundamentally transform cancer care away from expensive, intractable late-stages to early, more treatable stages.
With a comprehensive portfolio of blood tests based on its proprietary, clinically proven rare-cell and genomic technology platforms, CellMax Life’s mission is to dramatically reduce cancer mortality by making affordable risk-assessment, screening and targeted therapy selection easily accessible globally to everyone. The company’s next generation liquid biopsy includes both circulating tumor DNA and Circulating Tumor Cells, for optimal personalized cancer treatment with immediate high clinical impact.
$9M in Series A-1 Venture Funding, Brings Total Funding to $14M
The company also announced today that it has received $9 Million in series A-1 venture financing for scaling commercial operations of its unique cancer blood test product portfolio, bringing its total venture investment to date to $14 Million.
The $9M in funding was led by Silicon Valley venture capital firm Artiman and several Taiwanese venture investors who are committed to making a global impact, including Stan Shih, founder, and honorable chairman of Acer, Inc.
“After several years of research and clinical testing, CellMax Life has developed a range of technologies to detect multiple cancer biomarkers in blood,” stated Dr. Dave Lawrence, Advisor, Artiman Ventures, and former chairman & CEO of the world’s largest HMO, Kaiser Foundation Health Plan and Hospitals. “CellMax Life’s clinically-proven blood test portfolio is effective across the cancer care spectrum, and especially so for early cancer detection.”
Stan Shih stated, “Over half of the cancer deaths worldwide occur in Asia, and the number is increasing. This serious problem cannot be solved with traditional, expensive cancer drugs alone. We invested in CellMax Life because with their breakthrough proven early detection CMx platform, they are leading a paradigm shift in cancer detection that will address the cancer in Asia cost-effectively and at scale.”
The company was founded in 2012, developing new technology as well as utilizing technology under development since 2007. The new $9M in funding is being used for continued product development, ongoing clinical trials, and commercialization of the full range of blood tests, including genetic cancer risk detection, and early cancer detection for colorectal and other cancers.
Liquid Biopsy for Optimal Personalized Cancer Treatment
“We founded CellMax Life to transform how cancer is identified and managed in ways never before possible. Early detection is the best defense against this asymptomatic disease -- when treatment costs are low and survival rates are high,” said Atul Sharan, co-founder and CEO. “With our accessible and accurate cancer blood tests, we are able to bring early, non-invasive cancer detection to the broadest population possible, enabling individuals to take control of their own health.”
In a separate announcement today, CellMax Life has announced its first product, CellMax CRC-Protect, a clinically proven, multi-biomarker blood test for early detection of colorectal cancer.
About CellMax Life
CellMax Life, Inc. is a precision cancer blood-testing company providing comprehensive, personalized multi-biomarker technology platforms for genetic cancer risk assessment, early detection and personalized treatment of cancer. CellMax Life’s flagship product is CellMax CRC-Protect, a multi-biomarker blood test for early detection of colorectal cancer, which is currently marketed in Taiwan. For more information, please visit www.cellmaxlife.com, tw.cellmaxlife.com, or call +1 650-564-3905 (U.S.), or +886 0800-555-885 (Taiwan). Offices are at: 1271 Oakmead Parkway, Sunnyvale, CA 94085 (headquarters), and 18F-1 Park Street, Nangkang, Taipei City.
Source: CellMax Life
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