BreathDx seeks RM21mil for regional expansion
The fundraising, facilitated via equity crowdfunding platform AMB Connect, will support the company's efforts to scale up its breath-based diagnostics platform, which uses artificial intelligence and gas chromatography to detect cancer through exhaled breath. 'Being based in Malaysia allows us to look at diseases that often don't get investigated like dengue, Zika or malaria.
'It also gives us an opportunity to localise testing for the region,' said chief executive officer Datuk Rajen Manicka.
Of the amount raised, 57% will be allocated toward acquiring machines, research and development (R&D), regulatory compliance, staffing and reimbursements, while the remaining has been earmarked for working capital.
The RCCPS-i shares would be issued at RM1 each, with proceeds to be fully utilised within 18 months.
To support long-term scalability, BreathDx has outlined a three-pronged revenue strategy: leasing diagnostic machines to point-of-care providers such as hospitals and clinics, charging on a per-test basis, and monetising clinical data for third-party use.
'We are building a model that removes upfront cost barriers for healthcare providers while creating recurring income from both diagnostics and data,' Rajen said.
As part of its expansion, the company is also exploring the setting up of a manufacturing plant in Sama Jaya, Sarawak.
Rajen said the facility would allow the company to localise production, reduce reliance on China-based manufacturing, and mitigate the impact of tariffs in key export markets such as the United States.
The company, recently valued at US$332mil by Valuing IP Sdn Bhd, may also consider a Nasdaq listing within the next two to three years.
Rajen added that the valuation could rise further with the completion of clinical studies at Harvard and the US Veterans Administration, approvals from the US Food and Drug Administration and Malaysian regulators, international market entry into Europe, India and North Asia, and local manufacturing in Sarawak.
BreathDx has invested more than US$25mil in R&D of micro gas chromatography and holds 25 international patents.
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