PacBridge Capital Partners (HK) acquires Contextual Genomics

Hong Kong based investment firm, PacBridge Capital Partners has committed to invest C$12,000,000 in Contextual Genomics, leading Canadian Cancer genomics company headquartered in Canada.

Contextual Genomics has developed FIND IT, molecular hotspot assay screening for more than 140 somatic genome alterations found in solid tumour cancers to identify optimal therapeutic treatments and recognize acquired drug resistant mutations, making it possible for doctors to customize therapies with greater precision for cancer patients. The FIND IT assay, supported by Contextual Genomics’ innovative, cloud-based analysis engine, also helps to determine prognostic and diagnostic implications for patient care.

Thee investment is in lieu of expanding global distribution of FIND IT as well as to fund the development of the company’s FOLLOW IT mutation detection assay for cell-free circulating tumour DNA (ctDNA) in plasma. FOLLOW IT will be deployed for patients with widespread metastatic disease at diagnosis and for use as a time series monitoring tool to read out tumour burden and treatment resistance.

Chris Wagner, Contextual Genomics’ Executive Chairman, said “We are very excited to partner with PacBridge Capital Partners. Their support of the company at this time of growth and expansion is an important validation of the quality of our team and the importance of the products we are developing, including FIND IT and FOLLOW IT.”