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Raffles Family Office leads Series B funding round for cancer screening and early-detection solutions developer Cellomics
Pan-Asian multi-family office strengthens private equity holdings with stake in Hong Kong biotech firm poised to advance precision oncology industry
Hong Kong, 23rd September 2021 – Raffles Family Office (RFO) has bolstered its burgeoning private equity portfolio with an investment in Cellomics, a Hong Kong-based biotechnology company pursuing the development and commercialisation of cancer screening and early-detection solutions. They include liquid biopsy tests based on Cellomics’ patented microfluidic and nucleic acid technology that is tipped to be more sensitive and accurate than competing products in development.
The investment from RFO, which is best known for its pan-Asian independent asset management and governance services for ultra-high net worth families, stemmed from its fast-growing Wealth Solutions division that specialises in private equity, structured products and fund vehicles.
Commenting on the transaction, which was executed through an entity under Hong Kong’s Limited Partnership Fund (LPF) regime, RFO Group Chief Executive Officer and Co-Founder Kwan Chi Man said: “Our Cellomics stake further addresses rising interest among our clients in direct investment opportunities, but more importantly lets us showcase the strength of Hong Kong as a hub for new ideas.”
Kwan added: “As home to our global headquarters, we are delighted to support Hong Kong through local and highly innovative firms such as Cellomics, and to do so via city’s equally innovative LPF regime.”
Cellomics’ Series B funding round, which was led by RFO, followed earlier rounds backed by strategic investors, including Hong Kong-listed Jacobson Pharma and Shenzhen-listed Sinocare, both of which also participated in the latest round.
Speaking to the impact of the funding, Cellomics Chairman and Co-Founder, Professor Michael Yang, said: “I wish to thank Raffles Family Office and its clients for supporting our efforts to enhance human health and wellbeing through cutting-edge technology. The investment will accelerate our growth and take Cellomics one step closer to its goal of offering unique and potentially life-saving solutions to radically improve cancer screening, monitoring, and treatment.”
Cellomics Holdings Limited is a leading Hong Kong-based biotech company focusing on the development and commercialisation of liquid biopsy products and services for the early detection and management of cancer. The firm’s proprietary technology has received numerous accolades, including the Natural Science Award from the Ministry of Education in 2015, the WuXi PharmaTech Life Science and Chemistry Award in 2016, and the Geneva International Invention Expo Gold Medal in 2019. Founded in 2018, Cellomics was listed as one of Deloitte’s Hong Kong Rising Star companies in 2019, KPMG’s Greater Bay Area Top 50 Biotech companies in 2020, and was also included in the Ministry of Science and Technology’s National Hi-Tech Enterprise list in 2020.
About Raffles Family Office
Raffles Family Office is an award-winning multi-family office with a comprehensive suite of services for ultra-high-net-worth families and individuals. As an integrated platform that encompasses independence, advisory expertise and access to a vast network of leading financial institutions and extensive range of asset classes, the firm is uniquely positioned to deliver highly bespoke wealth growth and preservation solutions supported by lasting family, investment, and operational governance structures. RFO is headquartered in Hong Kong and has local offices in leading Asian financial centres, including Singapore, Shanghai, Beijing and Taipei. For additional information, visit https://www.rafflesgroup.co