Speclipse, a developer of laser spectroscopic and AI-based medical diagnosis technologies, raised KRW 9B ($7.7M) in funding, bringing their cumulative investments to KRW 15.1B ($13M).
The round was led by Signite Partners with participation from BNH Investment, Shinhan Capital, MiCo and MiCoBioMed. The company intends to use the funds to accelerate growth and expand operations, as well as its business reach.
Initially a cancer diagnosis device developer, Speclipse was founded in 2015 by a group of graduates from Stanford University. The first product, the Spectra-Scope, a portable cancer diagnosis device, acquired overseas medical device certifications in Australia, Europe, and Brazil in 2020 and has built a sales network in more than 20 countries around the world.
Speclipse is expanding the applications of its laser spectroscopy and AI technology from tissue to blood. In order to overcome the limitations of the existing blood analysis technology, various biomarkers in the blood are simultaneously detected with high sensitivity via its specialized laser spectroscopy. Through deep learning, a large amount of blood spectroscopy data obtained is used to make early diagnosis of gastric cancer and Alzheimer's disease. The technology being developed is expected to change the paradigm of liquid biopsy in the future.
Speclipse CEO Sung Hyun Pyun said, “The skin cancer that Spectra-Scope is targeting is a cancer with a high prevalence among the Caucasian population, and in the United States, skin cancer biopsy alone is a KRW 12 trillion market. Upon examining lesions with a dermascope (magnifying glass), doctors decide whether or not to perform a biopsy, but depending on the skill level of the doctor, there are incidences of misdiagnosis.” Byun adds, “By expanding Speclipse’s laser spectroscopy and AI-based diagnostic technology from the realm of skin tissue to blood samples, the liquid biopsy market can be completely changed for various cancers that have previously been difficult to diagnose in the early stages.”