- R-Bridge will provide bespoke financing of US$40 million with a synthetic royalty structure and flexible repayment terms - Financing will accelerate Mirxes, Singapore-based miRNA tech company's innovation and commercialization of cancer early detection solutions in new markets - Transaction underscores R-Bridge's commitment to advancing life sciences innovations and expanding access to high-quality medical care SINGAPORE, Jan. 13, 2025 /PRNewswire/ -- CBC Group's R-Bridge Healthcare Fund ("R-Bridge") announces a US$40 million structured financing transaction with Mirxes Pte Ltd., a Singapore-based miRNA technology company specializing in cancer early detection and precision medicine. The financing will provide critical support for Mirxes' ambitious growth and expansion into key global markets.

Mirxes is a pioneer in developing and commercializing accurate, non-invasive and affordable blood-based miRNA tests for the early detection of cancer and other diseases. Its proprietary product, GASTROClearTM, is the world's first and only In Vitro Diagnostics ("IVD") product that has obtained regulatory approval for gastric cancer screening. With a proven 87.5% sensitivity for stage 1 cancers and 75% sensitivity for lesion sizes under 1 cm, GASTROClearTM has set a new benchmark in cancer early detection since the regulatory approval obtained in Singapore in 2019. Furthermore, Mirxes' recently completed 9,472-strong prospective clinical trial in China demonstrated superior performance on the safety and effectiveness of GASTROClearTM as a novel, accurate and accessible screening solution for gastric cancer.

Mirxes continues to expand its innovative miRNA technology platform, supported by an industry-leading portfolio of over 90 patents and applications. Mirxes is also developing diagnostic solutions for lung, liver, and colorectal cancer, with a strong focus on ramping up operations in high-growth Asia Pacific markets, including Southeast Asia, China and Japan.

The US$40 million synthetic royalty-backed financing provided by R-Bridge is long-term with flexible and customized repayment schedule to meet Mirxes' near-term strategic priorities. Proceeds from the financing will further accelerate its commercialization efforts in new markets and enable further innovation in its RNA diagnostic technologies.

As the largest healthcare-dedicated asset management firm in Asia, CBC Group manages over US$9 billion of assets. Founded in February 2020, R-Bridge is Asia's first and only healthcare-dedicated structured financing fund, specializing in providing financing solutions backed by royalties and other cash flows.

Dr. Michael Keyoung, Senior Managing Director & Head of Private Credit and Royalty at CBC Group, said, "With Asia's aging population along with other factors driving higher cancer incidence, the need for better and earlier cancer detection has become increasingly more urgent and important especially for gastric cancer which is more prevalent among Asian population. By providing this strategic financing, we are enabling Mirxes to scale its innovative miRNA technology platform globally, with potential to revolutionize cancer screening and diagnosis. This financing underscores our mission to support pioneering healthcare solutions that advance innovation and improve lives worldwide." "The escalating clinical and socio-economic burden of cancer is driving demand for accurate and accessible cancer early detection tests. We are proud to partner with R-Bridge, who shares a common mission, to deploy innovative cancer screening tests to save lives and healthcare costs," said Dr. Zhou Lihan, Co-Founder and CEO, Mirxes. "This bespoke, synergistic and multi-faceted partnership with CBC Group is timely and critical to drive Mirxes' commercial expansion in Asia-Pacific markets and to accelerate our clinical pipeline development." About CBC Group and R-Bridge Fund R-Bridge Healthcare Fund is an affiliate of CBC Group, Asia's largest healthcare-dedicated asset management firm with an AUM of $9 billion, headquartered in Singapore with offices in U.S., Asia, and Europe. With a diversified, multi-product strategy, CBC Group focuses on platform- building, buyout, private credit and royalties, and real estate, across the healthcare space, including pharmaceutical, biotech, medical technology, and healthcare services.

R-Bridge was founded in 2020 to provide alternative, non-dilutive financing for healthcare companies backed by royalties, revenue interests and other cash flow generated by sales of healthcare products and services in Asia as well as globally, with the intent to generate attractive and non-correlated returns for investors. R-Bridge raised its inaugural fund in 2020 and is currently investing from its successor fund, RBF II.

For more information on CBC Group, please visit www.cbridgecap.com/.

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About Mirxes Founded and headquartered in Singapore since 2014, Mirxes is a leading RNA technology company committed to saving lives and reducing healthcare burden through innovative, accurate and accessible cancer early detection tests. Leveraging our proprietary, industry- leading miRNA detection platform, we have pioneered GASTROClear, a regulatory approved, first- and best-in-class blood In Vitro Diagnostic test for screening of gastric cancer. In collaboration with globally renowned academic clinical institutions, we have developed a maturing clinical pipeline of single and multi-cancer tests that covers high incidence and mortality cancers including Lung, Colorectal, Liver, Breast and Pancreatic cancers. Mirxes is commercializing our PCR and NGS based portfolio tests in Southeast Asia, China, Japan and US, supported by an integrated in-house capability of R&D, IVD product manufacturing and clinical diagnostic laboratory services.

For more information, visit https://mirxes.com/.

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