Korean Rare Disease Diagnostics Firm 3billion Raises $10M
3billion raises $10 million in a Series B financing round, led by Korea Development Bank. Other investors included The Wells Investment, JW Asset, Magna Investment, Daekyo Investment, Yuanta Investment, D3 Jubilee Partners, Shinhan Capital, Nvestor, and Aventures Investment.
3billion tested its diagnostic service for rare diseases in a clinical study of over 2,000 patients from nine hospitals, with a diagnostic yield of 50 percent. The results agreed with a patient's clinical diagnosis in 95 percent of cases.
3billion CEO Changwon Keum said the company's machine learning-based automated variant interpretation system reduces the time and cost needed for the process. "With the investment, we are going to expand clinical studies to thousands of rare disease patients and make our variant interpretation system more sophisticated by using large-scale rare genome data from the studies."