The Sciety syndicate and Segulah Medical Acceleration invest MSEK 106 in SAGA Diagnostics
PRESS RELEASE. The Swedish diagnostics company SAGA Diagnostics, which develops ultrasensitive liquid biopsy tests for early detection of cancer relapse and personalized cancer treatment, recently completed a share issue of SEK 106 million led by Segulah Medical Acceleration together with Sciety. Hadean Ventures, which invested in the company at an early stage, also participated in the share issue.
The new capital will be used to finance expansion in Europe and the US and to accelerate product development.
“It is with great pleasure we note the big interest in our company. We are grateful to have gained several venture-capital firms and financially strong individuals as new shareholders through the Sciety network. The new shareholders will both expand our network in the industry and contribute with valuable life science expertise,” says Lao Saal, CEO of SAGA Diagnostics.
SAGA Diagnostics develops ultrasensitive liquid biopsy tests for early detection of cancer relapse and personalized cancer treatment (also called precision medicine). The tests are based on SAGA’s proprietary technologies for the analysis of circulating tumor DNA (ctDNA). The company’s unique technology allows them to develop tests that are significantly more sensitive than competing liquid biopsy tests.
“We believe strongly in the rapidly developing liquid biopsy sector, which has the potential to revolutionize cancer care. It is well known that cancer screening and monitoring are crucial to provide effective treatment and reduce mortality. SAGA Diagnostics’ technology allows the company to develop diagnostic tests for various cancers with very high sensitivity,” comments Andreas Lindblom, CEO of Sciety.
The company already has international sales of its first product and is also developing a globally unique product for individualized monitoring.
“In the fast-growing sector for liquid biopsy technologies with many new tests, SAGA Diagnostics stands out with their tests’ unprecedented sensitivity. We are proud to team up with SAGA and look forward to helping the team advance their strategic objectives further,” says Roger Gunnarsson, Managing Partner at Segulah Medical Acceleration.
About SAGA Diagnostics
SAGA Diagnostics is a personalized cancer diagnostics and disease monitoring company that offers molecular genetic testing of tissue biopsies and non-invasive “liquid biopsies” such as blood samples. SAGA helps pharmaceutical companies, scientists, and healthcare providers to detect actionable mutations, stratify patient groups, and monitor treatment response more accurately and to an industry-leading lower limit of detection of 0.001%. Analysis of circulating tumor DNA using its proprietary technologies gives SAGA unique ultrasensitivity and provides the basis for optimal decision-making.
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Sciety is the leading Nordic life science and health tech investment syndicate. By combining experience from life science and finance we select promising companies in the industry. We invest our funds in all companies that pass our selection process and offer the investment syndicate to co-invest on the same terms. The syndicate comprises venture capital firms, family offices, and business angels.
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