IDG leads $80m Series B round in Chinese biotech firm PTM Biolabs

IDG leads $80m Series B round in Chinese biotech firm PTM Biolabs

Laboratory equipment. Photo: Pixabay

PTM Biolabs, a Chinese firm that develops proteomics technology to help diagnose and treat human diseases, has raised 530 million yuan ($80 million) in a Series B round of financing led by Beijing-based investment firm IDG Capital, per its announcement.