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Apis Partners leads US$15 million investment in Prenetics | ||
By: PR Newswire Association LLC. - 18 Sep 2020 | Back to overview list |
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HONG KONG, Sept. 18, 2020 /PRNewswire/ -- Apis Insurtech Fund I, a venture fund managed by Apis Partners has led a US$15 million investment in Prenetics Limited, along with existing investor Alibaba Hong Kong Entrepreneurs Fund and more. Prenetics is a leading genetics and diagnostic health testing company, operational in 10 countries with a team of over 200. Prenetics, driven by a duty of responsibility due to the global pandemic launched Project Screen by Circle, an initiative aimed at making COVID-19 testing easy, safe and accurate. Highlighted below are some key updates:
Alongside serving the community in the fight against COVID-19, Prenetics pioneered the use of Whole Exome Sequencing Technology with its flagship CircleDNA consumer DNA test. Via CircleDNA, individuals can, via a single saliva swab, access over 500 valuable health reports which include cancer & disease risk, carrier screening for family planning, drug response, diet & nutrition, sports, ancestry and many more. Prenetics has now raised more than US$60 million since inception in 2014. The new funding will be used to continue to invest in R&D with a specific focus on further advancing COVID-19 testing technologies on a global basis. Danny Yeung, Co-Founder and Group CEO of Prenetics, said: "We are proud to be playing such a major role in the fight against COVID-19. Rapid, accurate, and frequent testing could be one of our most important interventions as fall approaches to prevent large outbreaks and for the global economy. In a recent Harvard study, it showed that there could be a 65% reduction[1] in infectiousness with weekly testing. Our teams are working 24/7 and stay tuned for some exciting updates in this area." Apis Managing Director, Jin Jeong, said: "We were highly impressed by Danny and the entire team at Prenetics for their mission driven approach to healthcare. Prenetics is spearheading personalized health by leveraging its next gen genomics capability. Whilst we made our decision to invest in Prenetics pre-COVID, seeing how Prenetics has used technology to help the community provide much needed COVID-19 testing is really a testament to the team's ability to make a difference to the World. I'm very excited for the future of Prenetics. " About Prenetics Prenetics is a leading genetics and diagnostic health testing company, operational in 10 countries with a team of over 200. Prenetics operates its direct to consumer genomics business via its two brands, CircleDNA in Asia and DNAFit in Europe. The company has a team of over 200 people and is spread across ten offices in Asia, Europe and South Africa. It's UK business has been awarded Two Queens Awards for Innovation and for International Trade. Prenetics has received over USD 60-million in strategic funding from Alibaba Hong Kong Entrepreneurs Fund, Ping An and more. Prenetics' mission is to help people lead healthier, more active lives by empowering them with personalised, predictive, and preventive measures in the form of the latest, proven innovations in DNA and mobile technology. For more information, please visit www.prenetics.com and http://www.circledna.com/ About Apis Apis Partners LLP is a global investment manager specializing in investments democratising access to financial services and related industries. Through its co-mingled and managed funds, Apis invests in sustainable early to growth stage businesses and helps them scale. Headquartered in London, the Apis team is spread across Singapore, US, India, Nigeria, Kenya, and South Africa. For more information, please visit www.apis.pe About The Commons Project The Commons Project is a non-profit public trust building global digital services and platforms for the common good. Founded with support from The Rockefeller Foundation and headquartered in Switzerland, it was established to build and operate the shared platforms and services that neither governments nor tech companies are well positioned to create. The Commons Project's public trust governance structure is designed to ensure that people's interests are served above all." For more information, please visit https://thecommonsproject.org/ [1] https://www.medrxiv.org/content/10.1101/2020.06.22.20136309v3.full.pdf SOURCE Prenetics |
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