PHASE Scientific Secures Largest Series A Funding in Asia's Diagnostic Technology Sector

PHASE Scientific, a biotechnology company based in Hong Kong, has successfully completed a US$34 million Series A funding round. The funding is led by a private equity fund managed by Value Partners Group and aims to accelerate the company's R&D and commercialization efforts.

PHASE Scientific is known for its patented PHASIFY™ urine concentration technology, which allows for the development of non-invasive tests for early detection of various diseases. The company has already launched over 30 innovative diagnostic products, distributing more than 100 million tests in over 30 countries. 

Additionally, PHASE Scientific has achieved significant clinical validation and global recognition for its urine-based HPV test, which demonstrated 93.4% sensitivity in detecting cervical precancer and cancer. Dr. Ricky Chiu, the Founder, Chairman, and CEO of PHASE Scientific, expressed the company's mission to empower millions worldwide with non-invasive, user-friendly testing. Value Partners Group, the leading investor in the funding round, emphasized the innovative technology's potential to address critical unmet needs in early disease detection.

Established in 2015, PHASE Scientific operates in Hong Kong SAR, Southern California, and China's Greater Bay Area, strategically positioning the company at the forefront of healthcare innovation on a global scale. With the global liquid biopsy market forecasted to reach around US$22.69 billion by 2034, PHASE Scientific's groundbreaking advancements in urine-based diagnostics are poised to make a significant impact on the industry.

Source: PR NewsWire