11 May 2023 | Thursday | News
Lucence achieved a significant milestone in February 2023 as the first Asian company to secure Medicare coverage in the US for LiquidHALLMARK, its Singapore-developed liquid biopsy panel, for advanced-stage cancer therapy selection.
Asia’s aging population is confronted with a growing cancer crisis, with nearly 10 million new cancer cases annually. Limited screening resources and low uptake of traditional cancer screening methods mean that the majority present in late-stage. Early cancer detection when it is most treatable can prevent unnecessary cancer deaths.
Lucence is launching LucenceINSIGHT™, an MCED test first internationally and with a follow-up U.S. launch in Q3 2023. This ctDNA-based liquid biopsy test screens for 10 common cancers in one blood draw. Globally, 78% of cancer deaths occur in cancers without recommended routine screening . Blood testing will make screening of multiple cancer types more convenient and accessible for asymptomatic individuals.
Lucence CEO and Medical Director Dr. Min-Han Tan said, “We’re honored by DPM Heng’s visit and the opportunity to showcase Lucence’s launch of LucenceINSIGHT™ and our U.S. growth. Our mission is early cancer detection through a single blood test, when cancer is most treatable hopefully for cure. We strongly believe in collaboration with partners who are motivated to overcome cancer together globally.”
NRF Chief Executive Officer Mr. Beh Kian Teik said, "Singapore has continuously pushed the boundaries of deep domain expertise, with a burgeoning base of over 230 MedTech startups and SMEs, and Lucence is one leading example. This is a reflection of Singapore’s vibrant research, innovation and enterprise ecosystem, that is committed to nurturing international collaboration and global talent."
Mr. Jeffrey Siow, Managing Director and Chief Operating Officer of Enterprise Singapore , said, "Enterprise Singapore supported Lucence to commercialize its technology and enter the US market, so we are very happy to witness the launch of the LucenceINSIGHT™ MCED test today. Lucence’s success illustrates the competitiveness of Singapore’s biomedical ecosystem and the importance of sustained investment in research and development, especially for this sector.”
Lucence was founded in 2016 in Singapore by CEO Dr. Min-Han Tan as a spin-off from Singapore’s Agency for Science, Technology and Research (A*STAR) and has since grown into a leading global precision oncology company. With headquarters in Singapore and California, Lucence maintains CLIA-licensed and CAP-accredited laboratories in both locations and operates commercial offices in Hong Kong and Suzhou.