July 21, 2024
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Westlake Village’s Cynvenio Biosystems raises $25.5 million in equity financing


Westlake Village-based Cynvenio Biosystems raised $25.5 million in Series B equity financing Wednesday.

Cynvenio’s LiquidBiopsy technology allows doctors to access populations of rare cancer cells in whole blood. At the same time, it allows doctors to analyze complex characteristics of cancers in a single blood sample.

The investment was led by Livzon Pharmaceutical Group, which is a healthcare company based in China, and will be used to advance Cynvenio’s clinical development and commercialization of drugs.

“Cynvenio has demonstrated technical leadership in the emerging field of LiquidBiopsy technology for sequencing-based tumor cell analysis in diagnostics and patient monitoring applications,” Tao Desheng, president of Livzon Pharmaceutical Group, said in a news release.

“We look forward to supporting Cynvenio and our subsidiary Livzon Diagnostics plans to open a new operating joint venture in China to quickly bring LiquidBiopsy to all hospitals and research institutions in greater China.”