AnchorDx Medical Co., Ltd., a Guangzhou, China-based developer of DNA methylation NGS products, closed a USD40m Series C financing.
The round was jointly led by OrbiMed and WuXi Huiying Investment.
The company plans to use the new funds to accelerate the registration and commercialization of its NGS-based products for single-cancer, multi-cancer, and pan-cancer screening and early detection and to deploy its technology to other major disease areas.
Established in 2015, AnchorDx is a developer of DNA methylation NGS products, including cancer screening and early detection products.
Currently, the company’s product pipelines encompass more than 70% of high-incidence cancers. In September 2018, AnchorDx initiated the world’s largest prospective clinical trial for lung cancer early diagnosis (“Thunder Project”; Clinicaltrials.gov: NCT03651986), which is led by Prof. Zhong Nanshan, a Fellow of the Chinese Academy of Engineering, together with 23 top-tier hospitals/institutes in China. As of today, the Thunder Project has already enrolled 9,687 individuals with scheduled follow-ups. In the meantime, the company has built its own big database around lung cancer screening, early diagnosis and treatment, based on large multi-dimensional, time series medical imaging and clinical data collected from multiple clinical trials. This year AnchorDx will launch an upgraded version of PulmoSeek, its core NGS-based diagnostic product for pulmonary nodule management. This upgraded product, PulmoSeek Plus, coupling liquid biopsy tests with LDCT imaging, will achieve higher accuracy in lung cancer early diagnosis.