AnchorDx Secured $40M in Series C Round of Financing

(VCBeat) Feb. 23, 2021 --  On February 22, 2021, Guangzhou-based AnchorDx Medical Co., Ltd. ("AnchorDx") announced the closing of a $40 million Series C financing, jointly led by OrbiMed Capital and WuXi Huiming Investment, which focuses on the investment of the medical and healthcare industry. 

Proceeds from the transaction will be used to accelerate the registration and commercialization of a number of NGS products for single-cancer, multi-cancer, and pan-cancer early screening and diagnosis at home and abroad, as well as the development of other major disease areas.

Founded in 2015, AnchorDx is an international leader in the development of high-throughput sequencing (HTS) analysis of DNA methylation of NGS for early screening and diagnosis. AnchorDx is led by the medical treatment by world-class talents in the field of gene technology. The company is unique in the industry with a successful experience in the United States. With independent R&D of the next generation of genetic testing, clinical diagnosis, precision medicine, and big data, AnchorDx has developed a series of products and a follow-up R&D platform with high clinical application value including early diagnosis of cancers.

AnchorDx is the first company in China to apply high-throughput sequencing technology of ctDNA methylation to tumor diagnosis. Its own technologies include AnchorIRISTM, a  database building technology of methylation that is 10 times more efficient than its commercially available counterparts, and AnchorMonarchTM, a data system analysis process of methylation based on algorithms such as machine learning. AnchorDx provides more accurate and sensitive detection products and services in early tumor screening, auxiliary diagnosis, efficacy evaluation, and recurrence monitoring.

OrbiMed is a healthcare-dedicated investment firm, with approximately US$5 billion in assets under management. OrbiMed's investment advisory business was founded in 1989 with a vision to invest across the spectrum of healthcare companies.