Pharus Diagnostics Eyes Hong Kong Fundraising as AI-Powered Cancer Tests Gain Traction
Taiwan-based biotech startup Pharus Diagnostics, backed by billionaire Li Ka-shing, is expanding its fundraising efforts in Hong Kong. The company, known for developing artificial intelligence-powered diagnostic tests for cancer, aims to complete both a new funding round and a clinical study on lung cancer before the year ends.
CEO Philip Huang shared that the firm has already secured commitments covering just over half of its funding target. Although he didn’t disclose specific figures, he pointed out that Hong Kong offered strong advantages for fundraising and launching cutting-edge diagnostic tools, while also providing a bridge to the mainland Chinese market.
Innovation at the Core of Cancer Screening
Pharus has placed early detection of lung and pancreatic cancer at the center of its research efforts. The company utilizes machine learning to detect microRNA biomarkers, which are small molecules secreted by cells—including cancerous ones—that can indicate the presence of early-stage cancer.
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Huang explained that traditional cancer detection methods based on DNA fragments often fall short, particularly in early-stage diagnosis. He noted that DNA is typically shed only when cancer cells die, resulting in a low success rate of 15–20% for identifying first or second-stage cancer. In contrast, the company’s microRNA-based tests have shown significantly better performance in detecting early malignancies.
Pharus is currently conducting a clinical study across 13 hospitals in Taiwan, involving hundreds of patients. The study compares blood samples from individuals with malignant lung nodules to those without, aiming to establish diagnostic accuracy.
Backing and Global Ambitions
Pharus is supported by major investors including Li’s CK Hutchison Holdings and CK Life Sciences. The startup gained further recognition in March by winning the Jumpstarter tech competition, organized by Alibaba Entrepreneurs Fund (AEF). AEF’s CEO, Cindy Chow, said the fund is considering an investment in Pharus and that potential investors have already expressed interest.
In addition to its work on lung cancer, Pharus is advancing a pancreatic cancer screening test. The test, developed using biomarkers licensed from City of Hope, has already been approved for use in a California-based laboratory. Discussions are underway with the Mayo Clinic to expand clinical validation and improve the test’s reliability.
Huang, who formerly served as a vice-president at Roche Diagnostics, emphasized that future cancer detection will rely on a combined approach. He suggested that integrating blood tests with AI-enhanced imaging and genetic analysis could define the next generation of diagnostic technology.
