Mirxes Reduces Losses Amid Revenue Growth in Biotech

Singapore-based biotech company Mirxes has reported a significant reduction in losses to US$28.4 million for the first half of 2025, down from US$44.5 million during the same period last year. The improvement was propelled by a robust revenue increase of 9.4% to US$10.5 million, mainly driven by its burgeoning cancer diagnostics segment. 

Mirxes, a spin-off from Singapore’s A*Star, has shown resilience in the volatile biotech market, particularly in the early detection and precision multi-omics arena. This segment saw a notable revenue surge of 50%, reaching US$10.5 million, thanks largely to the success of their products, Gastroclear and Lungclear. This growth underscores the rapid expansion of Asia’s cancer diagnostics market. However, the company experienced a downturn in its infectious diseases sector, with revenue plummeting from US$2.6 million last year to zero as the demand for Covid-19 testing has significantly decreased. Despite these challenges, Mirxes remains committed to innovation, with plans to allocate half of its future proceeds to further research, development, and market introduction of its cancer diagnostics solutions.