Targene Biotech Raises ￥100M in Series A Financing, Focusing on Early Diagnosis of Tumor
According to 36Kr.com, Guangzhou Targene Biotech Co., Ltd. ("Targene Biotech") has completed a ￥100M Series A funding round, led by BGI Co-win, with participation from Lucion Capital, The First Investment Holdings Group, Funway Capital and others. The latest round is the first financing since the establishment of Targene Biotech.
Proceeds of this financing will be used for the research and development, clinical trials, production and sales of early diagnosis reagents and testing services.
Targene Biotech is a developer of molecular biology techniques, mainly engaged in liquid biopsies, gene methylation and other molecular diagnostic technology of the major tests and early diagnosis of cancer.
The technology platform established by Targene Biotech includes real-time, fluorescence-based quantitative PCR, fluorescence in situ hybridization (FISH), low-density biochip, etc. Relying on the platform, more than 50 kinds of molecular diagnostic and typing kits for tumors and infectious diseases have been independently developed by the company. At present, it has completed the R&D and pre-clinical verification of products for colorectal cancer, nasopharyngeal cancer, bladder cancer, cervical cancer, liver cancer, esophageal cancer, gastric cancer, and others.
Besides, Targene Biotech is able to do complex DNA operations and provide specialist molecular biology outsourcing services, including real-time fluorescence-based quantitative PCR, fluorescence in situ hybridization, molecular cloning, vector construction, detection of gene mutation and common pathogens, and so on.
About BGI Co-Win
Founded in 2016, BGI Co-Win is the corporate venture capital arm of BGI Genomics and is based in Shenzhen, China. The firm seeks to invest in medical technology, gene technology, and biomedical companies.
Lucion Capital is an influential professional venture capital institute and the first listed venture capital company in China. The company mainly invests in advanced manufacturing, modern agriculture, marine economy and other advantageous fields in Shandong, China, and other emerging industries including information technology, energy conservation & environmental protection, new energy, new materials, biotechnology, and high-end equipment manufacturing.