Orbit Genomics, Inc., an early-stage genomics company, today announced that it has received $3 million in funding to launch its first product, OrbiSeq™ – L, a lung cancer diagnostic test which demonstrated significantly higher accuracy than any test currently marketed. The lead investors for this round are NHH Ventures and New Horizon Health Ltd (6606-HK). The company is raising an additional $1 million to complete the $4 million round. It also entered into an exclusive licensing agreement with New Horizon Health Ltd to market Orbit Genomics' products in Asia.
Orbit Genomics' patent pending OrbiSeq platform analyzes novel markers in blood or saliva that uniquely reflect both inherited disease risk and risk acquired from lifestyle and environmental exposures. It can be applied to diagnose, treat, and help prevent complex diseases including cancer, heart disease and neurological diseases.
In a published pilot study, OrbiSeq – L demonstrated 93% Sensitivity/97% Specificity for diagnosing lung cancer, the world's deadliest cancer that killed 1.8 million people in 2020. Low dose computed tomography (LDCT) is used for diagnosis, but often requires a biopsy for confirmation. It's estimated that OrbiSeq-L could potentially avoid 500,000 unnecessary biopsies annually in the United States, saving ~$5 billion in procedure costs.
“Our proprietary approaches to identify sensitive and informative regions of the human genome, especially microsatellites (repetitive DNA sequences), has the potential to greatly improve the accuracy and reliability of genomic tests, leading to improved patient care at reduced cost.” said Harold “Skip” Garner, Orbit Genomics' Co-Founder and Chief Scientific Officer.
About Orbit Genomics, Inc.: Orbit Genomics is an early stage genomics company focused on diagnosing, treating, and preventing complex diseases including cancer, heart disease and neurological diseases. For more information on Orbit Genomics or this investment opportunity, please visit the company’s website, https://www.OrbitGenomics.com or contact us at firstname.lastname@example.org.
About NHH Ventures: NHH Ventures is a venture capital company and the general partner of NHH Venture Fund, which focuses on investing in breakthrough technologies in molecular diagnostics with vast consumer market potentials. NHH Ventures’ professional team has decades of successful experience in research, management, and venture capital in the biomedical field, and is dedicated to providing continuous support to entrepreneurs who believe in innovation and determination. The main investors of NHH Venture Fund include New Horizon Health Ltd, a Hong Kong listed company and a world leader in early cancer screening.
About New Horizon Health Ltd: New Horizon Health Ltd is the pioneer and market leader in China’s cancer screening sector focusing on screening and early detection of high-incidence cancers. Its aim is to promote innovation in cancer screening technology and expedite the widespread adoption of cancer screening technology in China. For more information, please visit https://www.newhorizonbio.com.
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