Beijing GenomePrecision Technology Co., a Chinese precision medicine firm focused on molecular diagnostics, has raised a nearly RMB100 million (US$14.75 million) series B financing round from a group of investors, according to a statement released on the WeChat official account of one investor on Monday.
These investors include Chinese investment firm Dynamic Balance Investment, venture capital firm China Growth Capital, industry fund Jinfu Capital, and Yizhuang Biomedical Mergers and Acquisition Funds, as well as previous investors Sigma Square Capital and Jiuren Capital.
Founded in June 2015, the Beijing-based GenomePrecision is a comprehensive molecular diagnostics enterprise integrating research and development, manufacture, distribution, registration, and services. Driven by clinical needs, GenomePrecision offers a full range of products covering hematologic diseases, transplant matching and detection, tumor molecular pathology, pharmacogenomics, infectious diseases, and epigenetics.
The company has launched six molecular technology platforms, including platforms for "real-time fluorescence quantitative PCR (polymerase chain reaction)" and "first-generation Sanger sequencing" to develop molecular clinical diagnosis and treatment.
Proceeds of this round will be used to accelerate the clinical application of its ongoing projects and strengthen its market layout to meet the rapidly growing diagnostic needs of pathology and hematology.