Jena, September 05, 2023. The Hong Kong-based company Grande Bio-tech Co. Ltd. is making a seven-digit Euros investment in the Jena-based diagnostic company Oncgnostics GmbH. Oncgnostics has developed the cancer diagnostic Gyntect for the reliable detection of cervical cancer. Since 2022, this test has also been distributed and utilized in collaboration with a local partner in China. Following the successful launch of Oncgnostics’ test in China, Grande Bio-tech Co. Ltd. has decided to make a financial commitment. The goal now is to expand the distribution of tests developed by Oncgnostics in the ASEAN countries.
Oncgnostics in China since 2022
After years of close collaboration with a Chinese partner, Oncgnostics’ Gyntect test received approval for the Chinese market in 2022. Since then, the test has been used in China under the name GongAnLi. The Hong Kong-based holding Grande Bio-tech Co. Ltd., has now made a multi-million-dollar investment. Dr. Alfred Hansel, Managing Director at Oncgnostics and responsible for international business development, stated, “Not every medical product receives approval for China. We’ve succeeded. Now the next step is expanding to whole Asia. Such success is only possible with strong partners.” One of these partners is now Grande Bio-tech Co. Ltd., with Mr. Hu Mu as Managing Director, who mentioned, “Oncgnostics is the right partner for us to take big steps in early cancer detection.”
bm-t and HTGF enable mega-deal
Mr. Michael Thiele, Senior Investment Manager at bm-t, Beteiligungsmanagement Thüringen GmbH, said: “Oncgnostics is a prime example of Thuringia-based companies operating at a global level. That’s why we are further expanding our commitment into Oncgnostics also with respect to pipeline product development.” Dr. Bernd Goergen, partner at HTGF, High-Tech Gründerfonds, stated, “As an investor from the very beginning, we know the potential of Oncgnostics’ technology. Therefore, we also participated in this financing round.”
The GynTect-Test
Gyntect is a swab test that accurately determines within a few hours whether there is a precancerous condition or a tumor on the cervix. “With this test we are able to make quick and reliable assessments of a potential cancer condition. The usual months-long uncertainty until follow-up examinations is eliminated,” said Dr. Martina Schmitz, CEO and Scientific Director of Oncgnostics. At the same time, if there is an elevated cancer risk or cancer diagnosis, treatment can be initiated more promptly. The test detects changes in the genetic material of cells and does not require invasive tissue sampling.
Oncgnostics GmbH, a biotech startup spin off from the Jena University Hospital, develops molecular biology tests for cancer diagnostics based on epigenetic changes in the human genome. With Gyntect, the company introduced an innovation in the field of cervical cancer screening. Currently, the startup is developing further tests for head and neck cancers. The team of researchers led by founders Dr. Alfred Hansel (CEO) and Dr. Martina Schmitz (CSO) received the Thuringia Innovation Prize twice (2014, 2017) for their diagnostic approach.
