PHASE Scientific Secures $34 Million for Urine-Based Diagnostics

PHASE Scientific has raised $34 million in a Series A funding round to advance its urine-based diagnostic technology for early disease detection, announced in a press release. This funding round, the largest in Asia's diagnostic technology sector since 2019, was led by a private equity fund managed by Value Partners Group, with participation from new healthcare-focused investors and existing global backers.

The investment will accelerate research and development and commercialization of PHASE Scientific's PHASIFY™ technology, which captures over ten times more biomarkers than current industry standards. The company is developing non-invasive tests for early detection of cancers, women's health conditions, and infectious diseases, offering a convenient at-home sample collection method.

PHASE Scientific has already launched over 30 diagnostic products across various health categories and distributed more than 100 million tests in over 30 countries. The company has also developed the world's first urine-based HPV test, which has shown significant clinical validation and global recognition, demonstrating 93.4% sensitivity in detecting cervical precancer and cancer lesions in a recent clinical study.