|[February 23, 2018]
PacBridge Capital Partners (HK) Limited Makes Investment in Contextual Genomics Inc. - a Leading Canadian Cancer Genomics Company
PacBridge Capital Partners (HK) Limited, a Hong Kong based investment
firm, has committed to a C$12,000,000 facility to fund Contextual
Genomics Inc., a leading Canadian cancer genomics company headquartered
in Vancouver, Canada.
Contextual Genomics has developed FIND ITTM, a proprietary
molecular hotspot assay that screens 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 ITTM assay, supported
by Contextual Genomics' innovative, cloud-based analysis engine, also
helps to determine prognostic and diagnostic implications for patient
care. Contextual Genomics has partnered with Sonic Healthcare in
Australia and Idengene Medicina Diagnóstica SA in Brazil for
distribution of FIND ITTM to cancer patients in their
The investment by PacBridge will be used by Contextual Genomics to
continue to expand global distribution of FIND ITTM, as well
as to fund the development of the company's proprietary FOLLOW ITTM
mutation detection assay for cell-free circulating tumour DNA (ctDNA) in
plasma. FOLLOW ITTM 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.
FOLLOW ITTM will screen for all of the same somatic genome
alterations as FIND ITTM and can be used to follow disease
progression for patients, including those whose tumours were initially
tested with FIND ITTM.
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
dveloping, including FIND ITTM and FOLLOW ITTM."
Sheldon Trainor, founder of PacBridge, stated "Contextual Genomics has a
world class leadership team who have developed a platform that makes the
benefits of computational cancer genomics available to the mass market.
Their products and research have the potential to significantly improve
the efficacy of cancer treatment for many patients around the world.
PacBridge is very excited to partner with and support Contextual as they
take their business to the next stage of product development and global
In connection with the investment, Sue Paish, former President and CEO
of LifeLabs Medical Laboratory Services, who is a well-respected leader
in the Canadian life sciences industry, and James Lumsdaine of PacBridge
will join the Contextual Genomics' Board of Directors.
About FIND ITTM:
The FIND ITTM cancer panel is a multiplex, next- generation
sequencing genomic assay designed for rapid deployment into labs around
the world. FIND ITTM evaluates the mutation status of tumour
DNA at 140 well-characterized positions, identifying the somatic
mutations that have the greatest potential to impact treatment
decisions. QUALITY NEXUSTM is a quality control system
embedded into all FIND ITTM assays and into Contextual
Genomics' cloud-based analysis engine. FIND IT™ physician reports
provide clear information on test interpretation and linkages to current
About Contextual Genomics (www.contextualgenomics.com):
Contextual Genomics has developed cost-effective and clinically
actionable molecular tests that guide diagnosis and treatment of cancer.
These customized tests are offered by our partner laboratories around
the world with Contextual conducting cloud-based bioinformatics services
via a SaaS (News - Alert) model. The collection of data via this robust network of
partners and the use of machine-learning tools allows Contextual
Genomics to improve patient care through improved clinical trial
enrollment and new treatment algorithms. Contextual Genomics is founded
and managed by global leaders in cancer medicine and bioinformatics, who
have unparalleled expertise in cancer genomics and the clonal evolution
About PacBridge Capital Partners (HK) Limited:
PacBridge Capital Partners (HK) Limited is a Hong Kong based investment
firm. Founded in 2009, the firm is focused on investments in growth
stage companies operating in the gaming, entertainment, online,
biotechnology and environmental technology sectors. PacBridge works with
its partners to add value to a business by investing capital and
contributing skills and experience to maximize the performance of the
business. A number of its portfolio companies are now listed on the
Stock Exchange of Hong Kong and Nasdaq.
This release contains forward-looking statements that are not based
on historical fact. These forward-looking statements involve risks,
uncertainties and other factors that may cause the actual results,
events or developments to be materially different from those expressed
or implied by such forward-looking statements. Readers are cautioned not
to place undue reliance on such forward-looking statements.
View source version on businesswire.com: http://www.businesswire.com/news/home/20180223005865/en/
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