Novocardio Raised $1.4M in Pre-A Round Funding

Beijing based biotechnology for gene sequencing developer Novocardio announced that it has raised tens of millions yuan (US$1.4 million) in a Series of Pre-A round funding led by Amphra Capital.

Established in 2016, Novocardio is a high-tech company specializing in the genetic diagnosis of cardiovascular diseases, providing the leading single-gene genetic testing and cardiovascular drug genetic testing services. The company is the only strategic partner of China National Medical Alliance For Hypertension and China National Clinical Research Center for Metabolic Diseases.

Through scientific research projects and professional academic promotion, Novocardio has cooperated with more than 200 third-level A-grade hospitals and collected nearly 10,000 cases of data of single-gene inherited cardiovascular disease in just three years, finding a series of new mutations for Chinese people and establishing the largest database of this kind of cardiovascular disease in China.

Previously, Novocardio got the investment of Novogene, one of the largest gene-sequencing platform, in its seed round. It also raised 10 million yuan from CASH Capital. 

With respect to this round of financing, Li Wenfeng, founder and CEO of Novocardio, said, "Thanks to Amphra, Novocardio will continue to focus on genetic testing services of cardiovascular diseases, take advantage of its own database, explore the locus of genetic variation, and provide more professional auxiliary diagnostic services for doctors and patients."

Zhou Weili, chairman of Amphra Capital, said, "Novocardio has a forward-looking strategic vision, an excellent bioinformatics analysis team, a unique database of pathogenic genes, and marketing capability. We are optimistic about the field of cardiovascular disease genetic diagnosis and drug genetic testing, and we are expecting a bright future of Novocardio."

Amphora Capital was established in 2006 as the Private Investment Fund subsidiary to Amphora Corporation. The business includes equity funds, investment and management consulting business, and incubators.

Amphora Capital focuses on investment of start-up stage and growth companies, with a particular focus on potential investment opportunities in the industrial Internet, biomedical health and high technology sectors. With AUM over 10 billion RMB, the company has invested in biopharmaceuticals, precision medicine, aerospace, education, fine chemicals and many other fields.