Saga Diagnostics AB, a Lund, Sweden-based precision oncology genomics testing company focused on ultrasensitive monitoring of cancer patients using blood samples and other liquid biopsies and tissues, raised SEK 40m in financing (€3.7m, USD 4.1m).
The round was led by Hadean Ventures, joined by a number of existing shareholders including Fårö Capital and the Gunnar Nilsson Cancer Foundation. In conjunction with the funding, Walter Stockinger, managing partner of Hadean Ventures, joined Saga’s board.
The funds will be used to accelerate commercialization of Saga’s portfolio of kits and services, continue development of new products, and perform prospective clinical studies. In addition, regulatory activities towards laboratory ISO accreditation and the first CE-IVD marked kits are underway.
Led by Lao Saal, CEO, Saga Diagnostics is a personalized cancer genomics and disease monitoring company that offers molecular genetic testing of tissue biopsies and non-invasive “liquid biopsies” such as blood samples.
The company helps pharmaceutical companies, scientists, and biomedical laboratory providers to detect actionable mutations, stratify patient groups, and monitor treatment response accurately.
The applications of the Saga technologies, which are based on massively parallel sequencing and digital PCR, include patient stratification, companion diagnostics, monitoring response to cancer therapies, identifying disease relapse, and aiding treatment decisions for patients with cancers such as breast cancer, non-small cell lung cancer, colorectal cancer, and acute myeloid leukemia.