CBC Group's R-Bridge Secures $40 Million Financing for Mirxes' Global Expansion

CBC Group's R-Bridge Healthcare Fund has announced a significant milestone with the provision of $40 million in structured financing to Mirxes Pte Ltd., a Singaporean innovator specializing in miRNA technology for cancer early detection. This strategic investment is poised to accelerate Mirxes' growth trajectory and expand its innovative solutions in key global markets.

Mirxes is at the forefront of the fight against cancer, pioneering the development of accurate and non-invasive blood-based tests for early detection of various cancers. Their flagship product, GASTROClear™, stands as the world’s first In Vitro Diagnostics (IVD) approved for gastric cancer screening. This groundbreaking solution boasts a remarkable sensitivity of 87.5% for stage 1 cancers and 75% for lesions smaller than 1 cm, setting a new industry standard since its regulatory approval in Singapore back in 2019. Moreover, recent extensive clinical trials involving nearly 10,000 participants in China further validated the efficacy and safety of GASTROClear™, reinforcing its position as a leading option for gastric cancer screening.

Mirxes aims to broaden its innovative technology repertoire, supported by a robust portfolio of over 90 patents. The company is actively pursuing the development of diagnostic solutions for other cancers, including lung, liver, and colorectal, while focusing on expanding operations across high-growth regions in Asia, particularly in Southeast Asia, China, and Japan.

The financing provided by R-Bridge is structured with flexibility, offering a long-term repayment plan that aligns with Mirxes’ immediate strategic needs. This financial backing will significantly bolster Mirxes' efforts to enter and establish a foothold in new markets while enhancing their RNA diagnostic technologies.

Trusted as Asia's largest healthcare-focused asset management firm, CBC Group manages assets exceeding $9 billion. Established in February 2020, R-Bridge Healthcare Fund specializes in offering unique financing solutions backed by royalties and other revenue streams specifically for healthcare innovations.

Dr. Michael Keyoung, who serves as the Senior Managing Director and Head of Private Credit and Royalty at CBC Group, emphasized the urgency of improving cancer detection methods given the rising incidence of cancer in Asia. He stated, "With Asia's aging population and other factors contributing to increased cancer rates, it’s imperative to enhance early detection strategies, especially for gastric cancer prevalent in the region. Our investment enables Mirxes to scale its innovative solutions globally, potentially revolutionizing cancer diagnostics and treatment."

Dr. Zhou Lihan, Co-Founder and CEO of Mirxes, expressed his sentiment about the partnership, acknowledging that R-Bridge shares their vision of making cancer screening more accessible and efficient. He noted, "The increasing demands for precise and accessible early cancer detection are evident. The collaboration with R-Bridge is not just timely but crucial as it propels Mirxes' commercial expansion in the Asia-Pacific markets and accelerates our clinical pipeline development."

About CBC Group and R-Bridge Fund

R-Bridge Healthcare Fund is a subsidiary of CBC Group, recognized as Asia’s largest healthcare-centric asset management firm. CBC operates a diversified strategy incorporating platform-building, buyout, private credit, and royalty systems, spanning the healthcare landscape, including pharmaceuticals, biotechnology, medical technology, and healthcare services. The fund was established to provide non-dilutive financing options tailored to meet the unique needs and dynamics of healthcare companies.

For additional information, please visit CBC Group's website and connect on LinkedIn.

About Mirxes

Founded in Singapore in 2014, Mirxes is committed to transforming cancer early detection through their innovative miRNA detection platform. The company has developed the GASTROClear test and is actively expanding its pipeline of solutions for various cancer types. Mirxes aims to commercialize its tests across Southeast Asia, China, Japan, and the U.S., driven by its state-of-the-art R&D capabilities and integrated clinical services. More details can be found on Mirxes' website.