logo
Pharus, an AI-powered cancer test developer backed by Li Ka-shing, taps Hong Kong funds

Pharus, an AI-powered cancer test developer backed by Li Ka-shing, taps Hong Kong funds

Pharus Diagnostics, a
Li Ka-shing -backed developer of diagnostic tests for cancer powered by artificial intelligence (AI), said it would tap into fundraising channels in Hong Kong.
Advertisement
The Taiwan-based start-up aims to complete a round of fundraising and a clinical study on lung cancer by the end of the year, said CEO Philip Huang.
'Currently, we have received commitment from just over half the target of our next round of fundraising,' Huang said in an interview on Tuesday, without divulging the target. 'Hong Kong is a great place for raising funds, piloting innovative diagnostic tests and accessing the mainland China market.'
Pharus, whose investors include Li's
CK Hutchison Holdings and CK Life Sciences, is also developing a test for early screening of individuals at risk for pancreatic cancer. It adopts microRNA biomarkers licensed from City of Hope, a top US cancer research hospital.
In March, Pharus won this year's
Jumpstarter technology start-up competition organised by Alibaba Entrepreneurs Fund (AEF), a part of Alibaba Group Holding, which owns the Post. The fund seeks to support Hong Kong's start-up ecosystem.
Advertisement
AEF CEO Cindy Chow said potential investors have approached Pharus through AEF and expressed interest in taking part in its next fundraising. AEF has invested in a string of biotech start-ups in the city and it is also interested in investing in Pharus, she said.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Trump-Xi call on US-China trade tensions heightens Taiwanese fears of being marginalised
Trump-Xi call on US-China trade tensions heightens Taiwanese fears of being marginalised

South China Morning Post

time3 days ago

  • South China Morning Post

Trump-Xi call on US-China trade tensions heightens Taiwanese fears of being marginalised

The call focused on easing trade tensions, but Xi also said that the US 'must handle the Taiwan question with prudence' and make sure 'fringe separatists' did not drag China and the US into 'confrontation or even conflict', according to state news agency Xinhua. While Trump posted on social media that his 90-minute conversation with Xi 'focused almost entirely on TRADE', Xinhua quoted him as saying the US 'will honour the one-China policy'. The call reinforced the sense of growing scepticism in Taiwan towards the US as a result of Trump's comments on defence, semiconductors and the tariffs he imposed on the island. 'Mainland China's usual practice is they only make a phone call when a certain consensus can be reached,' Cheng Chao-hsin, the deputy mayor of Taichung city told local media. 'This makes us very anxious about Taiwan's trade negotiations, as we now find that both Japan and the mainland are ahead of us.'

US-China trade call's impact on manufacturers, Trump and Musk feud: SCMP daily highlights
US-China trade call's impact on manufacturers, Trump and Musk feud: SCMP daily highlights

South China Morning Post

time3 days ago

  • South China Morning Post

US-China trade call's impact on manufacturers, Trump and Musk feud: SCMP daily highlights

Catch up on some of SCMP's biggest China stories of the day. If you would like to see more of our reporting, please consider subscribing As two of the world's most powerful leaders – President Xi Jinping and US counterpart Donald Trump – exchanged rare conciliatory words in a phone call that signalled a potential thaw in China-US tensions, the mood on factory floors in China remained far more restrained. The US Senate Foreign Relations Committee has approved a slate of China-focused measures, including bipartisan bills to counter Beijing's overseas military expansion and bolster Taiwan's role in global finance while advancing the nomination of a former ambassador to lead US diplomacy in East Asia. Before their public feud this week, US President Donald Trump and Elon Musk attended a press conference in the Oval Office of the White House on May 30. Photo: Reuters The gloves have come off as the besties turn on each other, attacking policy decisions, threatening repercussions and levelling scandalous accusations.

Hang Seng Index ends day on a weak note
Hang Seng Index ends day on a weak note

RTHK

time3 days ago

  • RTHK

Hang Seng Index ends day on a weak note

Hang Seng Index ends day on a weak note The Hang Seng Index ended trading for the day down 114 points at 23,792. File photo: AFP Hong Kong and mainland Chinese stocks ended slightly lower on Friday, as investors remained cautious after a call between President Xi Jinping and his US counterpart, Donald Trump, failed to provide clear signals of progress in easing trade tensions. Trump and Xi confronted weeks of brewing trade tensions and a battle over critical minerals in a rare leader-to-leader call on Thursday, leaving key issues unresolved for future talks. "If you look at the conversation between the Chinese and US presidents, there's nothing concrete that's positive. So little impact on stocks," said Guo Jianwen, partner at Shanghai-based hedge fund Haiyi Capital. In Hong Kong, the benchmark Hang Seng Index ended trading for the day down 114.43 points, or 0.48 percent, at 23,792.54. The Hang Seng China Enterprises Index fell 0.63 percent to end at 8,629.75 while the Hang Seng Tech Index fell 0.63 percent to end at 5,286.52. Across the border, the blue-chip CSI300 Index fell 0.1 percent. The benchmark Shanghai Composite Index ended up 0.04 percent at 3,385.36, while the Shenzhen Component Index closed 0.19 percent lower at 10,183.70. The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, lost 0.45 percent to close at 2,039.43. For the holiday-shortened week, the CSI 300 Index gained nearly 1 percent, while the Hang Seng Index rose 2.2 percent. (Agencies)

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store