ARNA Genomics raises $3,5 million in series A funding on ARNA Breast cancer test systems

/USA, Wilmington, September 17, 2020/ – ARNA Genomics US Inc, which develops tests for early stage cancer by detecting specific fragments of nucleic acids in plasma, announced today closing of the $3,5 million series A with a leading investor – Xploration Capital venture fund. Raised funding will be used for clinical validation of ARNA Breast – a first unique test for breast cancer.   Jointly with Sechenov University the Company has conducted a proof-of-concept study of “ARNA Breast” which showed accuracy over 90%. This outstanding result far exceeds parameters of breast cancer tests developed by such companies as GRAIL (investment about $2 billion) and Thrive Earlier Detection (investment about $350 million). “ARNA Breast” is a first test in the product line with which ARNA Genomics begins its expansion to the global market. Tests for stomach, pancreatic and ovarian cancer are currently under development and expected in the nearest future.  

Prof. Charles R. Cantor, molecular geneticist, member of the US National Academy of Sciences:

ARNA Genomics has a unique approach to develop and deploy liquid biopsy tests for detecting cancers and monitoring their response to therapy. Because liquid biopsies are noninvasive (typically just a blood draw, a urine sample or a swab) and inexpensive, they are likely to become broadly used diagnostic tests. This field is extremely competitive, but because ARNA [Genomics US Inc.] does things differently it is likely to acquire strong intellectual property and a significant market share.

Series A funds will be used for further clinical trials in the United States, Europe and CIS. The Company also plans to expand operations to Indian and Chinese markets.   “ARNA Breast” test consists of two parts or protocols. One involves highly precise measurement of circulating free DNA fragments left in blood plasma, the other – analysis of enzymatic activity.  Protocols and “know-hows” are currently being patented.  

Egor Melnikov, founder and CEO of ARNA Genomics:

We greatly appreciate investors’ belief in our project. Negotiations took quite a long time. Pre-seed, seed, pre-A series were much easier than series A. During the period of proof-of-concept study followed by thorough due diligence we have managed to bring together a team of exceptional and talented people, which is a second crucial point for any startup after having a great technology. Raised funding will allow us to conduct a number of strong evidential studies, which will let us to make our tests available to the patients in the nearest future.