SOUTH PLAINFIELD, N.J.--(BUSINESS WIRE)--Molecular diagnostics company, Admera Health, today announced that it completed a Series A round of financing. The terms of the agreement were not disclosed. This growth capital will help Admera Health expand operations aggressively, broadening and accelerating the company’s product development. Prime Value Capital Management (PVCM) led the investment round and was joined by Sungent Bioventure. Additionally, PVCM’s founding partner, Dr. Chenhui Wen, will be joining the Admera Health Board of Directors.
"The successful completion of our Series A financing marks a significant milestone in our company’s trajectory,” stated Dr. Guanghui Hu, President, Admera Health. "It is recognition of our research capability, as well as the value of our product portfolio. We are proud to welcome PVCM and Bioventure as strategic partners, and to invest in the company’s future expansion together. The proceeds from the Series A financing will not only allow Admera Health to accelerate the market penetration of its existing commercial products, but also support research and development for our robust product pipeline."
Admera Health currently markets products focused on personalized medicine and non-invasive cancer testing, including the recently approved PGxOne™ Plus and OncoGxOne™, both of which apply cutting-edge next generation sequencing and advanced bioinformatics analysis. PGxOne™ Plus is an expanded version of PGxOne™, a proprietary pharmacogenomics test that helps predict patient responses to drug therapy based on individual genetic makeup. PGxOne™ Plus assays 25 well-established pharmacogenomics genes, enabling effective treatment planning across multiple therapeutic areas. OncoGxOne™ detects all currently known, clinically relevant genetic alterations in cancer genes. The test provides clear, concise, and medically actionable recommendations for targeted therapy and chemotherapy.
"We believe Admera Health is a leader in the field of precision medicine, and we are very impressed with its superior research and visionary management teams. We believe Admera Health’s product portfolio will help to improve the cost efficiency of the US health care industry significantly, and to provide accurate analysis to guide patient care, especially in challenging field of oncology. We value our partnership, and look forward to long term synergy full of promise and future growth,” commented Dr. Chenhui Wen.
About Admera Health
Admera Health is a molecular diagnostics company focused on personalized medicine. Utilizing advanced genomic technologies and bioinformatics analysis, Admera Health delivers cost-effective clinical diagnostics spanning the continuum of care from its established, CLIA-certified, CAP-accredited laboratory. Admera Health is a GENEWIZ company. For more information, please visit www.admerahealth.com.
PVCM is an investment firm that focuses on providing financing to companies with technologies and services in healthcare and clean energy, as well as more traditional industries such as consumer products and agriculture. PVCM was founded by Ms. Sue Chen and Mr. Chenhui Wen in 2009. It is registered in Cayman Islands and it has operation offices in Beijing and Shanghai in China and Dublin in Ireland.
About Sungent Bioventure
Sungent Bioventure is a venture capital firm based in Suzhou, China, which invests in early/growth stage start-ups in life-science and healthcare industries. It was founded by Sungent Holding Group and Suzhou bioBAY, one of the best life-science industrial parks in China. Since its inception, it has invested in over a dozen start-ups focused on developing innovative drugs, medical devices, IVDs, and biotechnologies.