GeneDx Medicine Completes RMB 100 Million Series B Financing to Accelerate Integrated Precision Diagnosis and Treatment Solutions

VCBeat (WeChat ID: vcbeat) has learned that in November 2021, Suzhou Gloriousmed Biomedical Group Co., Ltd. (hereinafter referred to as “Gloriousmed”) announced the completion of its RMB 100 million Series B financing round. This round saw participation from government funds, industrial companies, and existing shareholders. As a leading provider of comprehensive genetic testing solutions in China, Gloriousmed focuses on specific cancer types to support clinical decision-making. The proceeds from this financing will be primarily used to introduce new diagnostic and therapeutic products, accelerate the development of kits for early screening and diagnosis, and advance the development and registration of companion diagnostic products. These efforts aim to further accelerate the company’s integrated layout for precision diagnosis and treatment of urological tumors, breast cancer, and gastrointestinal cancers. Meanwhile, Gloriousmed will strengthen collaboration and integration with industrial partners to further solidify its product portfolio and enhance the layout across all business lines.

Gloriousmed focuses on integrating the pain points and needs of clinical diagnosis and treatment with its technological development capabilities, dedicated to building a closed-loop, integrated solution for precision diagnosis and treatment of specific cancer types. Leveraging its technological advantages and multi-dimensional data mining and analysis capabilities, Gloriousmed collaborates with clinical experts to develop distinctive products. The company has established a product system centered on Next-Generation Sequencing (NGS) technology, covering a full range of products from early screening, prognostic analysis, and personalized medication to Minimal Residual Disease (MRD) monitoring. Meanwhile, by introducing cutting-edge scientific technologies from both domestic and international sources, Gloriousmed rapidly achieves clinical translation and application, meeting the comprehensive management needs of clinical practice—from early screening and auxiliary diagnosis to personalized medication in late-stage disease—thereby providing holistic solutions for clinicians and patients. Gloriousmed has entered into a commercialization partnership with Sweden’s Prostatype Genomics for the Chinese mainland market. The collaborative products are currently undergoing clinical validation at research institutions in China, and the Prostatype® product is expected to be officially launched in the domestic market next year.

To address critical clinical challenges, Gloriousmed collaborates with clinical experts and pharmaceutical companies on scientific research. By integrating omics data, clinical phenotypic data, and drug efficacy follow-up data, the company continuously accumulates data from clinical testing and research projects to build comprehensive databases for specific cancer types and explore effective solutions. Currently, Gloriousmed has established China’s largest gene testing databases for urological tumors, colorectal cancer with liver metastasis, and thoracic/lung tumors. Building on these resources, the company developed the Renyi Cloud Big Data Platform, which integrates clinical data, follow-up data, and omics data to enable real-time statistical analysis of historical patient data and real-time visualization of basic bioinformatics analyses. Leveraging multi-omics big data, the company has engaged in extensive scientific collaborations with clinical institutions, publishing 23 SCI papers in the past two years alone, with a cumulative impact factor of 170.8.

Furthermore, the company actively establishes an academic exchange platform for clinical experts, pharmaceutical companies, and basic research scientists to promote the dissemination of concepts in precision diagnosis and treatment. It facilitates the registration and approval of standardized test kits for products that have been validated through clinical studies, thereby promoting their standardized application. Currently, the first domestic companion diagnostic kit for urologic tumors, co-developed by Gloriousmed and AstraZeneca, is under registration review.

Gloriousmed, established in December 2015, is a leading provider of comprehensive genetic testing solutions in China and the market leader in genetic testing for urological tumors. In 2017, it pioneered the “Ten-Thousand-Patient Tumor Immunity Ark Program” in China and launched the country’s first ctDNA-based genetic testing product for precision immuno-oncology therapy and efficacy assessment. Currently, the company’s product portfolio covers the entire continuum of oncology care, including early screening and diagnosis, hereditary risk assessment, prognostic stratification, guided precision medication, and dynamic monitoring of treatment efficacy. Among its offerings, Qian’an’an (for precise diagnosis and treatment of prostate cancer), Youke’an (for urothelial carcinoma), and Shenshian (for renal cell carcinoma) have become well-known brands in their respective niche tumor types. Additionally, Gloriousmed has relevant products and R&D initiatives in lung cancer, breast cancer, colorectal cancer, head and neck squamous cell carcinoma, and other tumor types. The company has commenced construction of its new headquarters in Wuzhong District, Suzhou, with its Suzhou-based diagnostic reagent manufacturing facility and medical laboratory soon to become operational.