New startup gets big seed funding round to make non-invasive pre-natal testing more accessible in Asia

Non-invasive pre-natal testing (NIPT) is a relatively new technology. As the name implies, it involves no needles being put near the unborn child. It’s a blood test that examines fetal DNA in the maternal bloodstream and determines the risk of the baby having things such as Down’s syndrome.

This kind of testing is not readily available in most places – and certainly not in Asia. A new startup launched to the public today with the aim to make NIPT more accessible in the continent. The CEO of that startup, Danny Yeung, says it’s a “game changer” for women. “We want to make it mainstream in Asia,” he adds.

The startup is Prenetics and it’s based in Hong Kong. It’s targeting mothers-to-be in mainland China who could come to Hong Kong to take its new non-invasive test. Yeung says that about 30 million mainland Chinese come to Hong Kong each year and stay at least overnight.

Although previous, invasive tests involve a mathematically small risk, Yeung says that any risk involving a baby is just too high. For example, the amniocentesis test, which involves the sampling of a small amount of amniotic fluid, brings with it the risk of preterm labor and delivery, respiratory distress, or even a miscarriage.

Big seed funding boost

In the months leading up to Prenetics’ launch, Yeung tells Tech in Asia that the team has been building up a network of doctors, obstetricians, and gynecologists in Hong Kong who will administer the test. The startup’s customers are these doctors, not the general public. Nonetheless, Prenetics will later market its flagship test, called the Prenetics V, to women in an effort to raise awareness and get them to seek out medical professionals who offer it.

Cantopop star Gigi Leung (image: Wikimedia Commons)

The startup has recruited Hong Kong pop star and actress Gigi Leung (pictured) – who announced her pregnancy in September – to serve as its brand ambassador.

Prenetics’ non-invasive test can be done from week ten of pregnancy. Though the tech makes it safer and is more accurate, it’s not cheaper – it’ll cost about US$1,000.

Prenetics also revealed today that it has secured a seed funding round of $2.65 million, which will likely prove to be the largest early-stage funding round in Hong Kong this year. Investors include 500 Startups (Khailee Ng), Mark Chang (founder and CEO of Jobstreet), Joel Neoh (founder of Groupon Malaysia; current Groupon APAC VP), COENT Venture Partners, and Yeung himself.

Yeung is also the founder of SXE Ventures, which launched in August with a US$10 million fund. The original founder of Prenetics is now the chief scientific officer, while the experienced Yeung – he started uBuyiBuy, which later sold to Groupon; he quit the daily deals company earlier this year – spearheads business development.

The global non-invasive pre-natal testing market will grow strongly over the next few years, and Transparency Market Research expects the segment to be worth US$36 billion in 2019.

Cheaper testing

The startup sends its tests to Illumia in the US (so the wait time for results is about five to seven days), but part of the funding will be put towards purchasing two Illumia sequencing machines that will be stationed in Hong Kong.