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The firm expects to release an expanded liquid biopsy panel this year to help pharmaceutical partners perform blood-based biomarker discovery work.
The firm said its revenues for the three months ended Dec. 31, 2020 were $78.3 million compared to $62.9 million in the same quarter of 2019.
The Chinese company will use the funds to accelerate the registration and commercialization of its NGS-based products for cancer screening and early detection.
The researchers will compare saliva and plasma samples from 50 patients with non-small cell lung cancer to identify circulating tumor DNA in saliva.
The company had been working to expand its retrospective data over the last year and half and is now readying to move forward with prospective studies.
The company intends to develop its fragmentomic approach for early cancer detection both in individual tumor types and for multi-cancer screening.
The company aims to use the methylation technology from its multi-cancer screening assay to detect minimal residual disease in early-stage cancer patients.
The Universities of Southampton and Leeds will lead the project with participation from Johnson & Johnson, Roche, Oncimmune, BC Platforms, Inivata, and NHS England.
The company believes its tests can already help oncologists better assess post-surgery risk, though prospective validation would be necessary for broad claims.
The company presented new evidence for the sensitivity of its multi-cancer early detection test and robustness of its automated library prep system.