Milu Labs is a medical diagnostics company with a focus on maternal foetal medicine and women’s health

Milu Labs, a New York- and Singapore-based medical diagnostics company with a focus on maternal foetal medicine and women’s health, announced today the completion of its first institutional financing, led by South Korea’s healthcare VC firm Magna Investment.

Turret Capital, an investor in life sciences companies in Asia, also participated.

The investment will be used to support the clinical development of its technology pipeline in China and across Asia. “This financing will help us commence clinical development of exciting technologies that can help millions of patients,” Matthew G. Badalucco, Co- founder and CFO of Milu Labs, said.

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Milu Labs builds, researches, and markets cutting-edge technologies such as AI to screen and detect major health conditions. The firm is collaborating with global academic institutions and American healthcare companies to develop these diagnostic technologies.

In January this year, Milu Labs entered into a strategic collaboration with NX Prenatal, a privately held women’s healthcare molecular diagnostic company.

Keele Park, CEO of Magna Investment, said: “We are extremely happy and excited that we are investing in a company with many provocative bio-technologies, which will be delivering them to the largest patient population in the world.”

Henry Park, Partner of Turret Capital, added: “The Milu team has tirelessly worked to bring together world class diagnostics services under one umbrella. We are grateful to be an investor and enthusiastic to work with them to see them succeed.”

Magna Investment is a venture capital investment company with its headquarters in Seoul, South Korea. It specialises in Series A and B investments in biotechnology and other small/mid cap companies with a total of 11 funds with gross assets under management of US$170 million.

Photo by Piron Guillaume on Unsplash

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