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Singapore's Clearbridge Biomedics Secures S$6.6M in Funding Ahead of Planned IPO

NEW YORK (360Dx) – Singapore cancer diagnostics firm Clearbridge BioMedics said today that it has secured S$6.6 million ($4.8 million) in funding ahead of a planned initial public offering.

According to the company, the round drew interest from both biotech investors, and from medical professionals in the oncology space. Money raised will support Clearbridge's business expansion, technology development, talent recruitment, and expenses related to its potential listing.

Clearbridge has developed a platform for noninvasive liquid biopsy via real-time analysis of cancer cells isolated from a standard blood draw. The firm's ClearCell FX System is a label-free, microfluidics device. Commercially launched in 2015, it has a CE-IVD mark in Europe, and has been registered as a Class I medical device with the US Food and Drug Administration and with China’s FDA via a Chinese partner.

Barring unforeseen circumstances, the company said it expects to launch its IPO in the final quarter of 2018.