WuXi NextCODE Secures $200 Million Series C Financing to Expand Global Genomics Platform

VCBeat (WeChat: vcbeat)It was reported that today (November 27, 2018), WuXi NextCODE, a global leader in precision medicine and an integrated platform for gene R&D applications and big data enablement, announced the successful completion of its Series C financing round, totaling $200 million.

WuXi Nextcode’s Series C financing round was led by the Ireland Strategic Investment Fund (ISIF) with a $70 million investment, while participating investors included Temasek, Yunfeng Capital, and Sequoia Capital, among others, who had also invested in its Series B round. According to previous reports by VCBeat“WuXi Nextcode Completes $240 Million Series B Financing to Accelerate the Improvement and Expansion of Its Genomic Big Data Platform Infrastructure”, which is also a new round of financing for WuXi Nextcode following its successful completion of a $240 million Series B financing in September 2017.

WuXi Nextcode was established through the integration of WuXi AppTec’s Genomics Center and NextCODE Health, an Icelandic precision medicine big data analytics company. Dedicated to improving human health through precision medicine big data, WuXi Nextcode offers an integrated open platform that includes China’s first laboratory to achieve dual CLIA and CAP accreditation from the United States, as well as the world’s only NextCODE precision medicine big data analysis and interpretation system validated and optimized with whole-genome data from 300,000 individuals, supporting both cloud-based and on-premises deployment.

WuXi Nextcode has established branches in Shanghai, China, the United States, and Iceland, providing comprehensive precision medicine solutions to researchers, clinicians, healthcare institutions, and individual consumers worldwide. It empowers global partners to accelerate drug development and diagnostic reagent development, reduce birth defects, improve the diagnosis of rare diseases, and advance the clinical application of other precision medicine technologies.

Currently, WuXi Nextcode is implementing a $400 million national precision medicine investment program in Ireland, aiming to establish itself as a global leader in the future of precision medicine and life sciences. To this end, WuXi Nextcode recently acquired Genomics Medicine Ireland (GMI), designating it as its Irish subsidiary and European headquarters; the Ireland Strategic Investment Fund (ISIF) is also a major shareholder of GMI. Furthermore, according to VCBeat, WuXi Nextcode is investing in the creation of a world-class gene and medical database in Ireland, leveraging its unique integrated platform to accelerate drug discovery and deliver precision medicine solutions for the benefit of patients worldwide.

WuXi Nextcode’s current round of financing will be primarily used to support the rapidly growing operational needs of GMI, accelerating the recruitment and completion of a whole-genome sequencing initiative targeting approximately 400,000 individuals in Ireland. This initiative will help position Ireland as a leader in the development and application of precision medicine. By fully leveraging Ireland’s unique genetic homogeneity, high-quality healthcare system, cutting-edge medical technologies, and forward-looking government policies and institutions, WuXi Nextcode will drive innovation in precision medicine, harnessing genomics technology to improve human health.

For detailed information, please refer to the VCBeat article."Exclusive Interview with Yuan Jianzhong of WuXi Nextcode: Gene Big Data-Enabled Platform, Perfecting the Closed Loop for Rare Disease Diagnosis and Treatment"

Part of the information in this article is referenced from the Chuangjianhui official WeChat account.