SG’s MiRXES raises $77m Series C round led by CR-CP Life Science Fund

Singapore-based biotechnology company MiRXES has raised $77 million in Series C funding led by CR-CP Life Science Fund, a joint venture between China Resources Group and Thailand’s Charoen Pokphand Group.

According to a statement, the round was also joined by global healthcare investment firm Rock Springs Capital and Singapore-based global investor EDBI, CCBI, Keytone Ventures, and  financial institutions from the US, Singapore, China, Hong Kong and others.

MiRXES added that this brings the total proceeds raised since inception to $120 million, reportedly making it the largest funding to date by a Singapore-based cancer diagnostics company.

Founded in 2014, MiRXES is a spin-off from Singapore’s Agency for Science, Technology, and Research (A*STAR) institute. It develops Ribonucleic acid (RNA)-powered tests for early disease detection, including cardiovascular, metabolic and infectious diseases.

In 2019, MiRXES launched what it called the world’s first microRNA blood test for early detection of gastric cancer, called GASTROClear. It currently has a pipeline of screening tests for early detection of a range of cancer types including for lung, colorectal, liver, and breast cancer.

“With this fresh funding, MiRXES will bring forward our plans to deliver a comprehensive portfolio of non-invasive screening tests for early detection of six major cancers, and to expand the use of our platform RNA technology for cardiovascular, metabolic and infectious diseases research and diagnostics globally,” said Dr Lihan Zhou, co-founder and chief executive officer of MiRXES.

MiRXES is looking to use the proceeds for hiring and projects to double its global talent pool to 400 staff over the next two years. Most of these hires will be in R&D, data science and commercial teams.

“MiRXES’s best-in-class technology, differentiated business model, and strategic advantage with its headquarter in Singapore and infrastructures in major markets offer MiRXES a strong competitive advantage to access markets in the Asia Pacific and globally,” said Da Liu, Managing Director, CR-CP Life Science Fund.

“Our operational resources will be able to accelerate MiRXES’s growth in China, as well as assist MiRXES to realize their ambition of becoming a global leader in RNA-powered diagnostics and preventive medicine,” Liu added.

MiRXES is headquartered in Singapore with operations in China, Japan and the United States. The firm has commercial activities in over 45 countries globally.

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.