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Mirxes secures $40m to expand cancer diagnostics in Asia

Singapore-based RNA technology firm Mirxes has secured US$40 million in structured financing from CBC Group’s R-Bridge Healthcare Fund.

The funding will help the company expand globally, focusing on high-growth markets in the Asia-Pacific region, including Southeast Asia, China, and Japan.

R-Bridge, which is Asia’s first healthcare-focused structured financing fund, provides solutions for life sciences companies backed by royalties and cash flows.

This synthetic royalty-backed transaction will enable Mirxes to advance its RNA diagnostic technologies and meet its strategic priorities.

Mirxes specializes in cancer early detection and produces GastroClear, a non-invasive blood-based diagnostic test for gastric cancer.

It is the first In Vitro Diagnostics product to receive regulatory approval in this category worldwide.

Recent Mirxes developments

Timeline
07-May-2024 📈 Mirxes records $58.7m operating losses and $24.2m revenue in lead up to HK listing
  • Mirxes reports 36.2% revenue growth to $24.2M
  • Total losses rise 21.8% to $70.4M in 2023
11-Aug-2023 📈 ‘A fighting chance’: Why Mirxes chose Hong Kong over Singapore for its IPO
  • Mirxes files for Hong Kong IPO, aims for $100M.
  • Considers secondary listing in Singapore post-IPO.
31-Jul-2023 📉 SG biotech firm Mirxes reports 70% revenue drop in FY 2022, prospectus reveals (Update)
  • Mirxes revenue dropped 70.7% to $17.8M in 2022
  • Company plans IPO in Hong Kong after $50M fundraise
26-Jul-2023 💰 In 50 Words: Singapore-based Mirxes eyes Hong Kong IPO at $600m valuation
  • Mirxes plans IPO on Hong Kong stock exchange
  • Company valued at approximately US$600 million

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