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Business deals

Malaysia's IHH leads $20m injection for cancer-test startup Lucence

Health care giant hopes to deploy liquid biopsy technology

IHH Healthcare is one of the largest groups in the sector by market capitalization, employing more than 55,000 people across 80 hospitals in 10 countries, including at this hospital in Kuala Lumpur. (Photo by Keiichiro Asahara)

CEBU, Philippines -- Malaysia's IHH Healthcare has led a $20-million Series A funding round for Singapore-based Lucence, the inventor of blood-based tests for cancer screening and treatment selection, the companies announced Wednesday.

The financing, which will be used by Lucence to bring its liquid biopsy technology to more patients across Asia and North America, was joined by SGInnovate, Temasek's subsidiary Heliconia Capital, Lim Kaling, Koh Boon Hwee, and others.

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