Testing Company Amcare Snags ￥110 million in Series B Financing

According to lieyunwang.com, Guangzhou Amcare Genomics Laboratory Co., Ltd. ("Amcare"), a third-party medical testing platform for clinical genetics and cancer diagnosis, has completed its Series B round of more than ￥110 million (US$16 million), led by Green Pine Capital, with participation from Guangzhou Zhiyuan Xinxing Equity Investment Partnership, Qianfeng Yihao Investment Partnership and Jiarui Medical.

In October 2019, Amcare completed a ￥30 million A+ round of financing. In July 2017, the company received tens of millions of yuan in Series A round from Mefund Capital, Zhongda Venture Capital, Guangdong Medical Valley, QS Capital and Kuimu Investment.

Dr. Zhang Wei, founder and CEO of Amcare, said, "Amcareis committed to becoming a good partner for birth defect prevention and control, so as to promote the clinical application of gene/genome detection. Amcare will, as always, stick to its mission and vision, accelerate the development of clinical genetics specialties, provide high-quality services and products to reduce birth defects."

Established in August 2015, Amcare is a third party medical laboratory specializing in clinical genetics and cancer diagnosis. The core team of Amcare consists of full-time diagnostic specialists with three major clinical certifications from the American Board of Medical Genetics and Genomics (ABMG), including clinical cytogenetics, clinical biochemical genetics and clinical molecular genetics.

In November 2019, Amcare and MGI Tech Co., Ltd. ("MGI") reached a strategic cooperation agreement on the clinical application of single-gene genetic disease genetic testing. Based on the high-throughput sequencing platform of MGI, Amcare will develop an overall solution for the whole process of single-gene genetic disease genetic testing.

Founded in 2007, Green Pine Capital is one of the most time-honored venture capital institutions in China, with rich experience in biomedicine, new energy and materials, advanced manufacturing, artificial intelligence, and other fields. The company not only provides funds for the invested enterprises, but also provides high-quality post-investment services and integrated resources. Green Pine Capital manages funds of ten billion yuan and has invested more than 7 billion yuan.

Founded in 2014 at China's financial hub-Shanghai, Mefund Capital is an investment fund. Currently, it manages11 investment funds, of which the amount value has reached to nearly 800 million yuan.

Mefund Capital mainly invests in the healthcare and bioscience industry. The financial services include equity investments (VC/PE), PIPE, FOF (Fund of Funds), securities investing, M&A and etc.