SAGA Diagnostics raises SEK 106 million (€10.5 million) to accelerate commercialization of ultrasensitive cancer liquid biopsies

SAGA Diagnostics AB (“SAGA”), a cancer liquid biopsy and genomic testing company, today announced that it 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.

SAGA is commercializing proprietary technologies to quantify cancer-associated genetic aberrations in tissue and liquid biopsy samples, and are uniquely capable of achieving limits of detection down to 0.001% mutant allele fraction. SAGA’s platform technologies, which are based on digital PCR and next-generation sequencing, are tools to be used in cancer patient stratification, therapy response monitoring, disease relapse identification, as well as in aiding in treatment decisions and as companion diagnostics.

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.