Prenetics has announced that Tencent has made a strategic US$30 million investment in Insighta – a Hong Kong-based early cancer detection company.
This investment values Insighta at US$200 million and underscores Tencent’s endeavor to advancing AI-powered innovations in healthcare.
Insighta’s early cancer detection platform is powered by its proprietary FRAGMA technology, a cutting-edge system designed to detect DNA methylation aberrations in cell-free DNA (cfDNA) in bodily fluids such as blood.
Insighta has commenced clinical trials in mainland China, focusing initially on liver cancer, and will soon expand to include lung cancer detection. Insighta is also actively developing tests for additional cancer types, and plans on updating as appropriate.
With US$80 million in cash reserves, Insighta is well-capitalized to fund these trials and expedite the commercialization of its revolutionary cancer detection technology in the next few years.
“We are excited to welcome Tencent as a strategic investor,” said Professor Allen Chan, Co-founder, Insighta. “Their expertise in AI, combined with our proprietary FRAGMA technology, positions us to make significant strides in improving early cancer diagnosis, which can greatly enhance patient outcomes worldwide.”
“Tencent sees tremendous potential in Insighta’s FRAGMA-powered approach to early cancer detection,” said Alexander Ng, President of Tencent Healthcare. “We look forward to deepening our partnership with Insighta through various dimensions.”
Danny Yeung, CEO, Prenetics, said: “This investment marks another significant step for Insighta as it continues its mission to transform cancer detection.”