20/20 GeneSystems, Inc., a Rockville, Maryland-based developer of tumor biomarker diagnostics via big-data healthcare analytics, raised $4.5m in new Series A equity funding.
Backers included Ping An Ventures and several family offices and individual investors, many affiliated with the Keiretsu Forum, a large angel investor network. In conjunction with the funding, Chris Apfel, M.D., Ph.D., a physician and biostatistician who also heads the Life Science Committee of the Keiretsu Forum chapter in San Francisco, is joining the 20/20 Board along with Ping An’s Jian Zhang.
Led by Jonathan Cohen, CEO, 20/20 has developed, validated, and undergone clinical testing of a blood test for the early detection of lung cancer. The test measures a panel of tumor biomarkers and utilizes a proprietary algorithm to combine the biomarker values to generate a unitary risk score.
The company intends to use the funds to accelerate commercialization of lung cancer test in China. In particular, the funds will support 20/20’s efforts to customize for the Chinese market its proprietary algorithm for blood biomarker testing for cancer. The algorithm will then be made available to hundreds of hospitals and Health Check centers throughout China using a cloud based software-as-a-service (SaaS) model.