Vision Medicals, a Chinese gene technology and precision medicine company, recently announced the completion of a RMB200 million (US$28.75 million) series B round financing, led by CDH Investments, with participation from CICC Qichen, Cash Capital, and Volcanics Venture.
Proceeds of the round will be mainly used for product development and upgrading, national clinical inspection network construction, medical device product registration, industrial base construction, and strengthening of medical brand marketing and clinical services.
Founded in 2018, Vision Medicals focuses on genetic technology and precision medicine. The company has two core technology platforms: metagenomics next generation sequencing(mNGS) diagnosis and gene editing tool (CRISPR-Cas12/13) rapid diagnosis technology.
Vision Medicals has established more than 5000 square meters of medical testing laboratories, R&D centers, in-vitro diagnostic equipment and reagent GMP production bases in Beijing, Nanjing, Shanghai, Guangzhou and other places, and now is working closely with Chinese top hospitals to create a big data and artificial intelligence diagnosis system.
“The application of metagenomics technology to pathogen detection has solved the unmet clinical needs, especially in the context of the global outbreak of COVID-19 epidemic this year. Whether for monitoring the epidemic or the diagnosis of complex infections., it has produced huge social value,” said Wang Lin, founding partner of CDH Investments.
Guangzhou-based Vision Medicals raised RMB100 million led by Volcanics Ventures and Cash Capital in a series A round in 2019.