PHASE Scientific International Limited, a Hong Kong-based biotechnology company, announced Tuesday the successful completion of a $34 million Series A funding round.

The firm said in a statement that this represents the largest Series A raise in Asia’s diagnostic technology sector since 2019, reflecting robust investor conviction in PHASE Scientific’s innovative PHASIFY™ technology and ambitious growth strategy.

The funding round is led by a private equity fund managed by Value Partners Group, one of Asia’s largest independent asset management firms, with significant backing from new healthcare-focused investors and continued support from existing global backers.

“The successful close of this landmark Series A financing validates the transformative potential of our technology and the growing global demand for accessible, accurate early disease detection,” said Dr. Ricky Chiu, Founder, Chairman and Chief Executive Officer of PHASE Scientific.

“With this capital, we will accelerate research and development (R&D) and commercialization efforts to bring a comprehensive suite of next-generation urine-based diagnostics to market,

“Our mission is to empower millions worldwide with non-invasive, user-friendly testing that can save lives through earlier intervention,” he added.

Founded in 2015, PHASE Scientific is headquartered in Hong Kong SAR with cross-border setup in Southern California, United States and China’s Greater Bay Area, which allows it to leverage the strengths of each region for research, development, and commercialization, positioning PHASE Scientific at the nexus for healthcare innovation on a global stage.

Building on its patented PHASIFY™ urine concentration technology—which captures over ten times more biomarkers than current industry gold standards — the firm is the only player advancing a pipeline of urine-based liquid biopsy diagnostics.

The company is developing a comprehensive suite of non-invasive tests for early detection of cancers, women’s health conditions, and infectious diseases.

Unlike traditional invasive screening methods, PHASIFY™ enables convenient, at-home sample collection, empowering proactive health management and preventive care.

PHASE Scientific has demonstrated strong market traction with the successful launch and commercialization of over 30 innovative diagnostic products across multiple health categories, including respiratory, gastrointestinal, women’s, sexual, pediatric health, and oncology.

To date, the company has distributed more than 100 million tests in over 30 countries and conducted over 8 million laboratory tests worldwide.

Building on this commercial success, the firm has developed the world’s first urine-based HPV test—a major breakthrough that has achieved significant clinical validation and global recognition.

In a recent clinical study with Peking University Shenzhen Hospital, the test demonstrated 93.4 percent sensitivity in detecting CIN2+ lesions — including cervical precancer and cancer — and over 97 percent concordance with gold-standard physician-collected testing (Roche’s Cobas 4800) for HPV types 16 and 18.

The results underscore PHASiFY™’s potential to make cervical cancer screening more accessible, comfortable, and user-friendly.

“We are delighted to become a partner of PHASE Scientific as it rapidly grows and addresses critical unmet needs in early disease detection,

“Its innovative technology represents a paradigm shift, offering an unparalleled combination of clinical precision and patient-centric solutions that accelerates the development of early disease detection,” said Dr. Chuen Yan Leung, Partner (Healthcare Investments) of Value Partners Group.

According to him, this aligns with the firm’s strategy to back category-defining leader with strong management, clear strategic differentiation, and best-in-class healthcare technologies that deliver both societal impact and scalable commercial potential.

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