Yikon Genomics, a Chinese solution-based single-cell sequencing startup, announced on Monday that it has raised 220 million yuan ($31 million) in a Series C round of financing led by Shanghai-based medical laboratory company Guangzhou Kingmed.
Yuexiu Industrial Fund, an investment vehicle of state-backed Yuexiu Group, and an industry fund co-established by Shenzhen-listed Wuhan Zhongyuan Huadian Science & Technology, which engages in the smart grid, medical health, and industrial investment businesses in China, participated in the Series C round.
China’s BOCOM International also poured money into the new round through a technological innovation-focused private equity fund, according to a statement.
Yikon Genomics, founded in June 2012 and based in Shanghai, delivers complete solutions in the fields of reproductive health and cancer diagnostics with liquid tumour biopsy.
The company, based on the patented MALBAC technology from Harvard University, developed solutions including “MALBAC-PGS” and “MALBAC-PGD” to offer comprehensive embryo testing results for physicians to choose the best embryos with balanced chromosomal copy numbers, without inheriting the known disease-associated alleles, according to the company website.
Proceeds will be used to promote its innovative patented products and services for reproductive health and cancer diagnostics.
Yikon Genomics closed 150 million yuan ($21 million) in a Series B round from Yuexiu Industrial Fund, Shenzhen New Industry Venture Capital, and Shanghai-based venture capital firm Frontline Bioventures in September 2016.
CHINA DEAL MONITOR
DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region between November 1 and November 4, 2019.
