20/20 Launches Equity Crowdfunding Campaign, Raises Over $165K in First Week
ROCKVILLE, Md., Nov. 6, 2017 /PRNewswire-iReach/ -- 20/20 GeneSystems, Inc. ( http://www.2020gene.com) ("20/20") commenced its first equity crowdfunding campaign this week, exceeding its minimum fundraising goal in only the first 5 days of the two-month offering. The campaign, hosted on Indiegogo's equity funding portal https://app.microventures.com/crowdfunding/2020-genesystems, is believed to be among the first for a life science company since equity crowdfunding was sanctioned by the U.S. Securities & Exchange Commission (SEC) in May 2016. Equity crowdfunding permits individuals at nearly all income levels to invest in early stage, pre-IPO emerging growth companies. SEC regulations permit companies to raise just over $1 million per year using equity crowdfunding.
"Crowdfunding is more than a financing tool," said 20/20's CEO Jonathan Cohen. "It is also a means to gauge marketplace interest in products before they hit the market." In addition to providing stock, the company is offering investors "perks" in the form of complimentary and early access to its cancer tests.
20/20's mission is to reduce cancer deaths in the U.S. and around the world through early detection. Boosted by machine learning, a form of artificial intelligence, 20/20 has developed patented blood test algorithms that combine protein biomarker levels together with various patient-specific information such as age, gender, smoking history, etc. Individuals identified to be at increased risk for having one or more early-stage cancers are given recommendations for follow-up testing so that the cancer can be pinpointed, biopsied, and treated through surgery.
The company has already introduced a blood test in the U.S. for early lung cancer detection http://www.bloodtestforlungcancer.com and has analyzed over 3,500 blood samples for lung cancer risk at its state and federally licensed CLIA laboratory. A similar product is being debuted in China. Next year, 20/20 plans to introduce OneTEST http://www.OneTestforCancer.com which will identify the risk of having one of multiple cancers using tumor protein biomarkers enhanced with 20/20's proprietary algorithms that incorporate the patient's individual risk factors to give a more accurate cancer risk profile. That product will be based on data from 40,000 patients tested annually over a dozen years.
About 20/20 GeneSystems:
20/20 GeneSystems, Inc. is a Rockville, MD based company focused on reducing cancer mortality worldwide through early detection. It has pioneered a novel approach called "20/20 Hindsight" which is continuous machine learning using large patient data sets of biomarker values with clinical factors such as age, gender, and smoking history to improve the accuracy of the most widely used cancer biomarkers.
Media Contact: Megan Jasso, Enventys Partners, 3307157317, [email protected]
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SOURCE 20/20 GeneSystems
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