Gaithersburg, MD – November 7, 2024 – 20/20 GeneSystems, Inc., an early market leader in multi-cancer early detection blood testing, announces that it has entered an Engagement Agreement with ClearingBid, Inc., a provider of the first platform enabling ordinary individuals and institutions to invest in IPOs at the same time, and on the same terms, as Wall Street’s largest investment firms.
Retail investors are typically excluded from participating in IPOs unless they have close ties to the company or its investment bankers. ClearingBid opens the IPO process to millions of people leveraging its proprietary technology platform to allow every investor, their brokers and financial advisors to gain direct access to IPOs just like the biggest institutions, while driving true market pricing, transparency and fair allocations.
“We are excited to be partnering with ClearingBid and laying the groundwork for what we hope could be a successful future IPO,” noted Jonathan Cohen, 20/20’s founder and CEO. “With a large shareholder base and thousands of customers, we love ClearingBid’s novel approach of giving all company stakeholders access to IPOs on equal terms. An IPO, powered by the collective strength and engagement of the crowd, represents a transformative step in democratizing investment opportunities and fostering wider community involvement in the company’s future,” said Cohen.
“After looking at significant numbers of start-ups and emerging growth companies our team concluded that 20/20 has many of the attributes to help make it a very successful IPO candidate for our unique and innovative platform,” said Matt Venturi, CEO and founder of ClearingBid. “They are an early entrant in what is expected to become a very large market for multi-cancer screenings with compelling competitive advantages, having achieved a nice growth trajectory without incurring significant losses. Similarly, 20/20 has demonstrated success with its equity crowdfunding efforts, helping to demonstrate a propensity to attract a larger number of affinity, retail investors in an IPO,” said Venturi.
20/20 was one of the first life science companies to succeed with equity crowdfunding, having raised over $12 million from more than 7,000 retail investors to date. The company is currently raising on Wefunder. Last month, ClearingBid received the “Rocket Launch Award” from the Crowdfunding Professional Association for having raised $5 million through its Reg CF offering in 2023 from nearly 4,000 investors on Wefunder, in just 39 days.
About 20/20 GeneSystems, Inc.
20/20 GeneSystems, Inc. is a consumer biotechnology company focused on AI-powered blood tests for the early detection and prevention of cancers and chronic diseases. 20/20 is currently the #2 market leader in the U.S. for multi-cancer early detection (MCED) blood tests. The company’s flagship product, OneTest™ for Multiple Cancers, is seeing rapid adoption in the MCED marketplace and was a strong performer in a recent blinded verification study conducted by the U.S. National Cancer Institute.
About ClearingBid
ClearingBid, Inc. is a leading provider of public offering facilitation services, specializing in innovative financial solutions that democratize investment opportunities. With a state-of-the-art technology platform and a commitment to inclusivity, ClearingBid empowers companies to engage a broader investor base and achieve successful, open and transparent IPOs.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
No money or other consideration is being solicited. If sent, it will not be accepted. No offer to buy securities will be accepted. No part of the purchase price will be received at this time other than through Wefunder’s platform. Any indication of interest involves no obligation or commitment of any kind. Nothing in this communication should be interpreted to suggest or imply that an initial public offering of 20/20 shares is imminent, or if an IPO were to occur, it would be successful for the company or its investors.
Contact:
Ron Baker ronb@2020gene.com 301-785-5185
