Asa Ren Closed An Oversubscribed Funding Round of US$8.15 Million in February 2023

Asa Ren, a leading DNA data company based in Indonesia, today announced the closing of a new early stage round of fundings of US$ 8.15 Million. This oversubscribed round was co-led by Top Harvest Capital (Silicon Valley USA), Kejora Capital (Kejora-SBI Orbit Fund and Orbit Capital Malaysia), and Marcy Venture Partners (Silicon Valley USA), with participation from Northstar Ventures, Naya Capital, PT Diagnos Laboratorium Utama Tbk, and a number of prominent angel investors. As part of the round, Kejora Capital's founder and managing partner Andy Zain, will join the company's board of directors along with InterBIO CEO, Irawan Mulyadi.

The Ministry of Health of Indonesia disclosed that more than 70% of deaths in Indonesia are caused by preventable diseases that can be detected from their DNA (including diabetes, CAD, stroke, and cancer). However, only 17% of the healthcare spending in the country is allocated to prevention. Asa Ren strives to solve this by providing wellness, nutrition and clinical bioinformatics data for Indonesians - while becoming the one of the first DNA companies that does all its analysis in-house ensuring data privacy.

With this funding, Asa Ren aims to enable innovation in Indonesia's healthcare industry through the utilization of longitudinal and genomic data for accelerating drug discovery and personalized treatments. Currently, Asa Ren provides a direct-to-consumer DNA test that offers more than 360 reports - including predisposed health risks, ancestry, and other reports for adults, young parents and childrens.

Founder and CEO of Asa Ren, Aloysius Liang, stated that "Our company is very pleased with this funding. Especially to be trusted by such reputable partners and global-investors is an honor for us. This also marked a milestone achievement in Indonesia's dynamic genomic and healthcare industry development. Asa Ren is focused on building this industry with all our key partners."

Top Harvest Capital, Adam Ghobarah added, "The Asa Ren team is uniquely positioned to bring genomics at scale to the Indonesian population. Their partnerships, their laboratory capabilities, and the scope of their ambition stood out for us."

To a greater extent, the new capital injection will allow the company to expand its efforts in deepening its digital capabilities, developing clinical bioinformatics, an electronic health passport, and a clinico-genomic database focused on non-communicable diseases. In addition, the company also aims to add medical diagnosis and complete health data of the customers.

As one of the Board of Directors at Asa Ren, Andy Zain, the Founder and Managing Partner of Kejora Capital also shared his support for the biotechnology company succession "Indonesia has the highest biodiversity in Southeast Asia with 1,300+ ethnic groups in the country. This provides a ripe opportunity for innovation and genetic research to improve the health and welfare of the country. We believe Asa Ren has all the right ingredients to capture this opportunity."

Asa Ren has signed service agreements with more than 47 prominent hospital and clinic partners and is expecting to grow its distribution footprint to more than 60 hospital and clinic partners by the end of 2023. The company is looking forward to bringing its value-added capability to escalate and improve Indonesia's healthcare and ecosystem.

Source: Finance.yahoo.com