Gene Detection Startup Genetron Health Pools USD62 Million in Round-C
Dou Shicong
DATE:  Jan 08 2018
/ SOURCE:  Yicai
Gene Detection Startup Genetron Health Pools USD62 Million in Round-C Gene Detection Startup Genetron Health Pools USD62 Million in Round-C

(Yicai Global) Jan. 8 -- Last week, Genetron Health (Beijing) Co., a gene detection startup pooled CNY400 million (USD62 million) in its round C financing, with an industrial fund sunder China International Capital Corp. as leading investor. Proceeds will go to product research and development, market expansion and Big Data accumulation.

Founded in 2013, Genetron Health accomplished its two rounds of financing in 2015 and 2016, respectively, 21 Century Business Herald reported Jan. 6, but without detailing either the specific amounts of these or the company's valuation.

Genetron Health strives to apply gene detection technologies to the cancer-oriented precision medicine sector, said Wang Sizhen, the company's chief executive. The proportion of its technological R&D staff to the total is more than 33 percent, and encompasses several fields, including cancer genetics, cancer genomics, pharmacology, and clinical pathology.

Since 2016, this company has made massive attempts to commercialize its cancer diagnosis products in cooperation with professional medical institutions and by offering diagnosis and treatment schemes to cancer patients and high-risk groups. Genetron Health had established partnerships with over 300 hospitals nationwide, by the end of last year, mainly in first- and second-tier cities.

This company's revenue is growing exponentially and is set to continue to do so in future. This year is predicted to see revenue of around CNY100 million, Wang added.

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Keywords:   Genetron Health,China International Capital Corporation,Cancer