#Singapore #cancer detection #R-Bridge #Mirxes

R-Bridge Secures $40 Million Financing for Mirxes

In a significant move to support healthcare innovation, CBC Group's R-Bridge Healthcare Fund has struck a deal to provide $40 million in structured financing to Mirxes Pte Ltd., a pioneering company based in Singapore that specializes in RNA technology aimed at early cancer detection. This funding aims to catalyze Mirxes’ expansion efforts into new and critical global markets.

Advancing Cancer Early Detection

Mirxes has earned recognition as a leader in the development of non-invasive blood-based diagnostic tests for early cancer detection, particularly with its flagship product, GASTROClear™. This groundbreaking test has made history by becoming the world's first In Vitro Diagnostic (IVD) product approved for gastric cancer screening. Since its regulatory approval in Singapore in 2019, GASTROClear™ has set new standards in sensitivity, achieving 87.5% for stage 1 cancers and 75% for lesions smaller than 1 cm. These advancements are particularly critical as cancer rates rise in Asia due to an aging population and lifestyle factors.

The support from R-Bridge is intended to fast-track not only the commercialization of GASTROClear™ but also the development of new diagnostic tests targeting other prevalent cancers including lung, liver, and colorectal cancers. Given the rigorous clinical data backing GASTROClear™, which includes results from a 9,472-patient trial conducted in China, the company is well-positioned to make headway in international markets.

Flexible Financing to Fuel Growth

The $40 million financing package is structured with flexible and tailored repayment options, allowing Mirxes to allocate resources strategically as it ramps up operations in various Asia-Pacific markets. The goal is to build on current successes and respond to the growing global demand for effective cancer screening tools, which has never been more urgent given the escalating healthcare burden caused by cancer.

Dr. Michael Keyoung, Senior Managing Director at CBC, expressed the importance of funding innovative healthcare solutions, stating, “The need for better and earlier cancer detection is paramount, especially for prevalent cancers in the Asian population. By partnering with Mirxes, we not only advance our mission but also contribute to improved healthcare outcomes on a broader scale.”

A Promising Partnership

For Mirxes’ Co-Founder and CEO, Dr. Zhou Lihan, this partnership is a timely opportunity to enhance their market presence. He commented, “The escalating demand for accurate cancer early detection tests drives our resolve. Partnering with R-Bridge aligns with our mission and is crucial for advancing our commercial expansion in the Asia-Pacific region.”

As R-Bridge specializes in healthcare-focused financing backed by innovative technologies and revenue streams, this deal showcases their commitment to support transformative healthcare solutions.

About CBC Group and R-Bridge

Founded in February 2020, R-Bridge stands as Asia’s first healthcare-dedicated structured financing fund, with a focus on providing financing solutions backed by royalties and other cash flows from healthcare products. With over $9 billion in assets under its management, CBC Group plays a pivotal role in boosting Asia's healthcare landscape, investing heavily in pharmaceuticals, biotechnology, and medical technology.

About Mirxes

Established in 2014, Mirxes aims to reduce healthcare burdens through accessible and accurate early cancer detection tests. Their proprietary miRNA detection platform not only offers GASTROClear™ but is also paving the way for a comprehensive pipeline of multi-cancer tests in collaboration with esteemed clinical institutions.

With this new financing on deck, Mirxes is gearing up to redefine standards in cancer diagnosis, promising to elevate healthcare quality and outcomes across the region and beyond.