SAGA Diagnostics has raised SEK 106 million (€10.5 million) in a Series A2 financing from both existing and new investors.

The Series A2 round was led by Segulah Medical Acceleration and the Sciety investment syndicate with strong support from existing shareholders such as Hadean Ventures.

“We are delighted to complete this oversubscribed financing round with support from existing investors and also to welcome Segulah Medical Acceleration and the Sciety investors who bring significant expertise and networks that will help SAGA accelerate into this next phase of the company. Building on our ultrasensitive products for liquid and tissue biopsy testing, the funds will enable us to execute on our ambitious growth plans. We will offer a wide range of regulatory-approved assays and services using all our three technology platforms and to broaden our reach to further markets – and thus move us forward on our mission to help cancer patients to have the best possible outcomes,” says Lao Saal, CEO of SAGA Diagnostics.

“In the fast-growing sector for liquid biopsy technologies with many new tests, SAGA Diagnostics stands out with their tests’ unprecedented sensitivity. We are proud to team up with SAGA and look forward to helping the team advance their strategic objectives further,” says Roger Gunnarsson, Managing Partner at Segulah Medical Acceleration.

Accelerate the commercialization

The company already has commercial agreements with a number of pharmaceutical partners, key opinion leaders, and clinical laboratories for the use of these technologies, both as laboratory testing service and sold as reagent kits. Funds will now be used to extend SAGA’s range of CE-marked SAGAsafe dPCR assays, accelerate the commercialization of SAGAsign in minimal residual disease monitoring, launch the SAGAseq platform, establish CLIA laboratory capabilities, execute clinical studies, and perform other expansion activities.

“We believe strongly in the rapidly developing liquid biopsy sector, which has the potential to revolutionize cancer care. It is well known that cancer screening and monitoring are crucial to provide effective treatment and reduce mortality. SAGA Diagnostics’ technology allows the company to develop diagnostic tests for various cancers with the possibility to improve patient survival and quality of life,” says Andreas Lindblom, CEO of Sciety.

Photo of Lao Saal: SAGA