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December 03, 2015

Philly biotech firm gets $2M investment from Japan

Liquid Biotech USA privately sold stock to a Tokyo-based biopharma firm

A Philadelphia biotech company with ties to the University of Pennsylvania raised $2 million through an investment from a Tokyo firm, the Philadelphia Business Journal reported.

Liquid Biotech USA, which spun out of the Penn Center for Innovation, sold $2 million in a private stock sale to Oncolys Biopharma of Japan.

The company is working on technology that can identify circulating tumor cells from liquid biopsies, often found in the blood of cancer patients. Analysis of those cells could eventually lead to cancer tests and treatment.

Isolating a tumor cell in a cancer patient could "potentially allow the oncologist to change the patient’s therapy in real time to match the cancer cells’ genetics as cancer cells mutate during the course of treatment," said Liquid Biotech's CEO, Dr. Philip Sass, to the Journal.

Read the full story here.

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