4D Lifetec announces successful first closing of CHF 1.9 million Series B financing to launch its early lung cancer detection liquid biopsy assay 4D LifetestTM Lung Dx in Europe.
The currently launched 4D LifetestTM Lung Dx is the first non-invasive CE-IVD blood liquid biopsy assay to assess lung cancer formation at its earliest stage. This diagnostic information is a breakthrough progress to tackle the catastrophic mortality rates of lung cancer patients and protect benign patients from the invasive stress of frequently repeated surveillance diagnostics.
4D Lifetec AG, a privately-held Swiss diagnostics company focusing on the development and marketing of early stage liquid biopsy cancer diagnostics, announced today that it has raised CHF 1.9 million in a first closing of its Series B round. This first closing was fully supported by both existing and new investors as well as from strategic partners. 4D Lifetec intends to complete the Series B investment round by the end of 2022.
The confidence of 4D Lifetec’s investors and the strong interest of established diagnostic and biotech companies in its liquid biopsy based early cancer detection assay, validate the importance of the sector and the value of the company’s portfolio of de-risked assets. Lung cancer patients still have the highest mortality rate of all cancer patients (79% over 5 years) because of a lack of reliable diagnostic biomarkers for early detection. This extraordinary high mortality rate yet again demonstrates the consequences of the lack of novel, reliable early detection biomarkers and the urgent need to address one of the major threats to the healthcare systems of the modern era.
The company will use the investment to launch its 4D LifetestTM Lung in Europe in 2022 and in the US in 2023 focusing on central diagnostic labs (CLIA). In parallel 4D Lifetec will work with strategic partners to automate its assay workflow addressing anticipated customer’s need in further increasing high throughput capabilities.
Dr. Arne Faisst, Chief Executive Officer of 4D Lifetec:
“This first important step in the Series B financing enables us to maintain the high pace of our launch activities in Europe and start our US operations. We are sincerely gratified by the long-term commitment of our existing investors and welcome our new private and strategic investors helping us to prepare the company for its next growth phase.”
Source: 4D Lifetec
07-12-2022