PHASE Scientific Secures $34M to Advance Urine-Based Diagnostic Platform

Hong Kong-based PHASE Scientific has successfully raised $34 million in a Series A financing round, marking a significant milestone in the development of non-invasive diagnostic technologies. The company, originally a UCLA spinout founded in 2015, aims to revolutionize the field of diagnostics with its innovative urine-based testing platform.

Groundbreaking Urine Test Platform

PHASE Scientific's platform focuses on urine DNA concentration, allowing for the detection of sensitive biomarkers across a range of health conditions. The company's test catalog spans multiple areas, including cancer detection, infectious diseases, and women's health. This approach offers a non-invasive alternative to traditional diagnostic methods, potentially improving patient compliance and early disease detection rates.

The company has already made significant strides in the diagnostic market, having conducted over 8 million lab tests worldwide. With a portfolio of 30 diagnostic products, PHASE Scientific is positioned to make a substantial impact on global healthcare diagnostics.

HPV Test Demonstrates Promising Results

One of PHASE Scientific's notable developments is a urine-based HPV test. In a clinical study conducted in collaboration with Peking University Shenzhen Hospital, the test showed 97% concordance with Roche's standard HPV 16 and 18 test. The study examined samples from women undergoing follow-up colposcopy or treatment for high-grade cervical cancer lesions after Pap smear testing.

While the HPV DNA detection test is available in the United States, it has not yet received approval for cervical cancer screening. This limitation highlights the ongoing development and regulatory processes that diagnostic technologies must navigate.

Funding to Accelerate R&D and Commercialization

The $34 million Series A funding round, led by Hong Kong-based Value Partners Group, represents the largest investment in Asia's diagnostic technology sector since 2019. PHASE Scientific plans to use this capital to accelerate both research and development efforts and commercialization strategies.

Ricky Chiu, founder, chairman, and CEO of PHASE Scientific, emphasized the company's mission, stating, "With this capital, we will accelerate R&D and commercialization efforts to bring a comprehensive suite of next-generation urine-based diagnostics to market. Our mission is to empower millions worldwide with non-invasive, user-friendly testing that can save lives through earlier intervention."

As PHASE Scientific continues to expand its global reach and refine its diagnostic platform, the company's progress will be closely watched by healthcare providers, patients, and investors alike. The potential for non-invasive, urine-based tests to transform diagnostic practices across multiple medical fields positions PHASE Scientific at the forefront of an evolving healthcare landscape.