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ACT Genomics Raises $8 Million in its First Private Funding Round

TAIPEI, Feb. 13, 2015 /PRNewswire/ -- ACT Genomics Co., Ltd., a cancer molecular information service company that aims to transform cancer genomic information into precision diagnosis and personalized treatments, today announced that the company has raised US$ 8 million in the its first private funding round.

Based in Taipei, Taiwan, ACT Genomics has developed comprehensive cancer diagnostic tests, ACTDrug™, ACTOnco™. With the aim to implement next generation sequencing (NGS) and multiplex molecular testing platforms to analyze a variety of clinical specimens (i.e., formalin fixed paraffin-embedded tumor tissue, frozen tissue, circulating tumor cells, and purified DNA), the scientists and medical team can accurately detect tumor genomic alternations in more than 400 cancer-related genes, and transform the information into tailored cancer treatments. With advanced next generation sequencing (NGS) and multiplex molecular testing platform, coupling with proprietary bioinformatics engines for clinical reporting, ACT Genomics is capable of providing accurate genomic data and comprehensive interpretation to address key challenges in cancer treatment - "Precision Medicine".

The funding will support the further investment in ACT Genomics' new portfolio of molecular diagnostic assays that can help physicians to address issues in cancer monitoring as well as the expansion of sales, marketing and medical team, the company said in a statement.

Dr. Hua-Chien Chen, the CEO said, "We are very pleased to have completed our first private funding. The R&D progress we made in the past 6 months has impressed the existing and new investors. The additional capital will allow us to continue building robust molecular assays and innovative bioinformatics engine to integrate genome guided medicine database. In addition, we see a significant market opportunity and unmet medical needs for ACT Genomics' cancer diagnostic tests, this round of capital will allow us to expand our team and ultimately to contribute to improve cancer patients' clinical outcomes."

ACT Genomics Contact:

PJ (Joe) Hsueh, MBA, Chief Operating Officer

Angus Wu, Vice Director, Business Development

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