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.
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. 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.”