Singapore: Nova Satra closes $2m investment from Genting Bio Cellular

Visual of Nova Satra homepage. April 2017.

Nova Satra Dx Pte. Ltd. (Nova Satra), a Singapore-based molecular diagnostics startup, has secured $2 million (S$2.8 million) in funding from Genting Bio Cellular Sdn Bhd, a wholly-owned subsidiary of Genting Berhad.

In conjunction with the funding, two directors nominated by Genting have joined Nova Satra’s board.

As part of the funding, a wholly-owned subsidiary of Genting Bio Cellular has also acquired exclusive rights to Malaysian distribution of the tests Nova Satra is developing.

Nova Satra intends to make available a pipeline of molecular diagnostics tests across a range of cancer indications.

According to the company, utilising an epigenetic platform technology developed at the University of Oxford, the Nova Satra test relies on highly stable DNA-based targets as part of chromosomal signatures.

The company intends to use the funds for regulatory approvals and commercialization of its lead test, a non-invasive blood-based diagnostic test for breast cancer.

This form of cancer, according to the International Agency for Research on Cancer, is the leading form of cancer among women across Asia. In 2012, with over 400,000 cases per year being diagnosed out of a total of 1.7 million globally.

Breast cancer diagnostics relies on highly stable DNA-based targets as part of chromosomal signatures (AKA gene loops, chromosome domains, long-range chromosomal interactions), rather than other molecular diagnostic tests that rely upon unstable protein/RNA molecules.

The company believes a patient-friendly option, easily included in routine check-ups, could increase, the often currently low, breast cancer screening participation rates of women across the Asian region.

Kane Black, CEO and co-founder of Nova Satra, commented: “We are pleased to announce the commitment and support of one of Asia’s pre-eminent conglomerates, with extensive investments in the life sciences space.

“This not only brings to Nova Satra capital resources but also substantial operational support to our research, development and commercialisation program to bring to market revolutionary and potentially life-saving non-invasive blood-based diagnostic tests for cancer,” he adds.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.