Simcere Diagnostics Completes Nearly RMB 600 Million Series B Financing Led by CITIC Securities Investment and CITIC Healthcare Fund

VCBeat (WeChat: vcbeat) has learned that Simcere Diagnostics recently announced the completion of its Series B financing round, raising nearly RMB 600 million. The round was led by CITIC Securities Investment and CITIC Medical Fund, with participation from Yingke Capital, Houxin Health Investment, Jinpu Guotiao, Chuangrui Investment, Renpu Medical Fund, Hongcheng Investment, Jinyu Maowu, and Nanjing Innovation Investment. Existing shareholder Tianhui Capital continued to support the company. Taihe Capital served as the exclusive financial advisor for this financing round.

Simcere Diagnostics is a leading provider of precision medicine solutions in China, dedicated to building more precise, comprehensive, rapid, and accessible precision medicine infrastructure in areas posing major challenges to human health.

Simcere Diagnostics’ mission is to empower every individual through precision medicine. Through continuous technological innovation, Simcere Diagnostics has established a comprehensive pipeline of innovative products across therapeutic areas including oncology, central nervous system disorders, infectious diseases, and pharmacogenomics. This portfolio features Onco500, the first pan-cancer companion diagnostic product in China’s next-generation sequencing (NGS) field to enter clinical trials. Additionally, Simcere Diagnostics provides healthcare institutions and pharmaceutical companies with a precision medicine service framework and digital infrastructure, working collaboratively to enhance the quality, efficiency, and experience of precision medicine.

Mr. Ren Yong, Chairman and CEO of Simcere Diagnostics, stated, “The mission of Simcere Diagnostics is to help every individual through precision medicine. As a startup serving the frontlines of clinical diagnosis and treatment, we are energized daily by the patient benefits brought about by precision medicine, yet also mindful of the limitations inherent in existing products and technologies. This duality serves as the fundamental driving force behind our commitment to breakthrough innovations in precision medicine products and technologies. We extend our gratitude to the numerous professional investment institutions for their trust and support, which enable us to adopt a longer-term perspective in translating new technologies into applications, allocate more resources to strategic projects, and jointly promote the long-term development of the precision medicine industry.”

CITIC Securities Investment stated, “Research into complex diseases such as cancer, central nervous system disorders, autoimmune conditions, and infections is advancing rapidly, necessitating the combined support of high-throughput technologies, multi-omics approaches, and multiple testing modalities. Leveraging the Group’s rigorous tradition in drug development, Simcere Diagnostics has a deeper understanding of drug R&D and clinical needs. It is well-positioned to provide comprehensive solutions for healthcare professionals, medical institutions, and patients, covering disease prevention, early detection, diagnosis, and monitoring. Notably, its large-panel oncology test, the first pan-cancer companion diagnostic product in China’s oncology field, has entered clinical trials. The introduction of more innovative products will not only benefit patients but also help reduce societal healthcare costs.”

Ms. Cai Hua, General Manager of CITIC Medical Fund, stated, “Precision diagnosis is the prerequisite for precision therapy, and large-scale platform companies will emerge in the field of precision diagnosis in the future. Simcere Diagnostics has integrated technological platforms including NGS, MALDI-TOF, ONT, and NanoString. Over the past three years, Simcere Diagnostics has launched more than 100 diagnostic tests across multiple disease areas, including oncology, neurology, pharmacogenomics, and infectious diseases, making it one of the few companies in the industry capable of providing comprehensive precision medicine solutions. We believe that Simcere Diagnostics will continue to drive the development of clinical precision diagnosis in China.”