Overview

Raised to Date: Raised: $232,704

Deal Terms

Investment Momentum

Company Profile

Deal Summary

Financials

Funding History

Total Commitments ($USD)

Platform

StartEngine

Start Date

08/16/2022

Close Date

12/21/2022

Min. Goal

$9,995

Max. Goal

$4,999,995

Min. Investment

$500

Security Type

Convertible Note

Series

Series A

SEC Filing Type

RegCF    

Valuation Cap

$58,400,000

Discount

10%

Venture Capital Investors:

China’s Ping An Ventures

Rolling Commitments ($USD)

Status

Funded

Reporting Date

12/31/2022

Days Remaining

Funded

% of Min. Goal

Funded

% of Max. Goal

Funded

Likelihood of Max

Funded

Avg. Daily Raise

$1,832

# of Investors

160

Momentum

Funded

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20/20 GeneSystems

Year Founded

2000

Industry

Healthcare & Pharmaceuticals

Tech Sector

HealthTech

Distribution Model

B2B/B2C

Margin

Medium

Capital Intensity

High

Location

Rockville, Maryland

Business Type

Growth

Company Website

20/20 GeneSystems, with a valuation of $58.4 million, is raising funds on StartEngine. It is a diagnostics company with a successful track record in cancer detection with its AI-powered multi-cancer blood test, OneTest. The company has also launched CoronaCheck, its FDA-authorized antibody lab test for COVID-19 antibodies. The business reported revenues of $9 million in 2021, a 300% increase over 2020 revenues. Jonathan Cohen founded 20/20 GeneSystems in 2000. The current crowdfunding campaign has a minimum target of $9,995.40 and a maximum target of $4,999,995. The campaign proceeds will be used to expand the portfolio of tests and grow revenues.

Summary Profit and Loss Statement

	Most Recent Year	Prior Year
Revenue	$9,622,332	$2,330,528
COGS	$4,927,374	$1,453,354
Tax	$0	$0
Net Income	$2,071,777	$-2,021,826

Summary Balance Sheet

	Most Recent Year	Prior Year
Cash	$3,354,469	$3,468,192
Accounts Receivable	$4,215,465	$205,071
Total Assets	$10,272,281	$4,677,734
Short-Term Debt	$0	$103,860
Long-Term Debt	$0	$40,247
Total Liabilities	$0	$144,107

Financials as of: 08/16/2022

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Raise History

Offering Name	Close Date	Platform	Valuation/Cap	Total Raised	Security Type	Status	Reg Type
20/20 GeneSystems	12/21/2022	StartEngine	$58,400,000	$232,704	Convertible Note	Funded	RegCF
20/20 GeneSystems	06/27/2021	StartEngine	$38,500,000	$2,903,017	Equity - Preferred	Funded	RegA+
20/20 GeneSystems	11/01/2020	SeedInvest	$38,500,000	$3,792,229	Equity - Preferred	Funded	RegA+
20/20 GeneSystems	12/14/2017	Microventures	$23,000,000	$1,064,807	Equity - Preferred	Funded	RegCF

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20/20 GeneSystems offers an affordable blood test that screens for multiple types of cancer. It also has access to the medical records of more than 200,000 patients with known cancer outcomes. Its testing technology and machine learning algorithms are innovative — but it’s not clear if there’s enough market demand for its product.

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