Daily Markup

Daily Markup #668: Prenetics-owned firm becomes first Asia-based company to receive FDA clearance for comprehensive genomic profiling test

January 26, 2023 · 2 min read
Credit: Louis Reed on Unsplash

Turning information into action

  • 500-backed biotech company Prenetics is on a roll with hitting new milestones! The team announced that ACT Genomics, a company specializing in precision oncology they recently acquired, received clearance from the U.S. Food and Drug Administration (FDA) for ACTOnco, a comprehensive genomic profiling test for solid tumors.
  • With 48% of new cancer cases and 55% of cancer deaths in the world diagnosed in Asia, this development is significant as ACT Genomics is the first and only Asia-based company to receive FDA clearance for such a test.
  • ACTOnco looks at 440 cancer-associated genes and enables healthcare professionals to perform comprehensive genomic profiling tests on an individual tumor.
  • This helps open the door for personalized medicine, and a future where a person is matched with treatments that target specific weaknesses in his or her cancer.
  • “Today’s landmark clearance by the FDA represents a significant advancement in personalized cancer care in Asia and may lead to reimbursement and coverage by private insurers and healthcare systems. The clearance by the FDA further validates our status as a pioneer in the industry and we will continue to invest further in R&D efforts, especially related to early detection of cancer in healthy populations,” said Danny Yeung, Co-founder & CEO of Prenetics and Chairman of ACT Genomics.
  • Read the full article here.
Daily
Tags:
0
Share
• • • KEEP READING

Daily Markup

  • Daily Markup is brought to you by 500 Global, Southeast Asia

  • All content herein is intended solely for general informational or educational purposes only. 500 Startups Management Company, L.L.C. and its affiliates (collectively “500 Global”) makes no representation as to the accuracy or information in this post and while reasonable steps have been taken to ensure that the information herein is accurate and up-to-date, no liability can be accepted for any error or omissions. All third party links in this post have not been independently verified by 500 Global and the inclusion of such links should not be interpreted as an endorsement or confirmation of the content within. Information about portfolio companies’ markets, competitors, performance, and fundraising has been provided by those companies’ founders and has not been independently verified. Under no circumstances should any content in this post be construed as investment, legal, tax or accounting advice by 500 Global, or an offer to provide any investment advisory service with regard to securities by 500 Global. No content or information in this post should be construed as an offer to sell or solicitation of interest to purchase any securities advised by 500 Global. Prospective investors considering an investment into any 500 Global fund should not consider or construe this content as fund marketing material. The views expressed herein are as at the date of this post and are subject to change without notice. One or more 500 Global fund may have a financial interest in one or more of the companies discussed

    All users of this website should note these important Terms of Use governing the use of this website.

  • Copyright © 2024 500 Global | All Rights Reserved

  • Privacy Policy
    Terms of Use
    Code of Conduct