Amcare Genomics Secures Over RMB 110 Million in Series B Funding to Advance as a Preferred Partner in Birth Defect Prevention

VCBeat has learned that Guangzhou Jiajian Medical Testing Co., Ltd. recently completed its Series B financing round. The round was led by Green Pine Capital, with participation from Zhiyuan Xinxing, Qianfeng No. 1, and Jiarui Medical.

This round of financing exceeded RMB 110 million. Combined with the RMB 30 million Series A+ round completed in October 2019, Guangzhou Jiajian Medical Testing Co., Ltd. has secured over RMB 140 million in funding within three months.

(Signing ceremony, photo provided by the company)

Guangzhou Jiajian Medical Testing Co., Ltd. was established in August 2015 and is headquartered at Guangzhou International Bio Island. It is the only independent medical service institution in China with technical personnel certified by the American Board of Medical Genetics (ABMG) in three specialties: clinical cytogenetics, clinical molecular genetics, and clinical biochemical genetics.

Guangzhou Jiajian Medical Testing Co., Ltd. is also a national high-tech enterprise that owns an independent third-party medical laboratory. Adhering to the American College of Medical Genetics and Genomics (ACMG) guidelines, it leverages China’s most professional genetic testing platform to provide specialized and rational testing, diagnostic, consultation, and personalized advisory services to medical institutions at all levels.

In recent years, with the advancement of gene/genomic testing technologies and high-end precision medical devices, our understanding of the etiology of human diseases has improved rapidly. Many clinical cases have also demonstrated that our comprehension of disease pathogenesis and treatment at the genetic/genomic level has undergone transformative changes. Compared with traditional symptom- and morphology-based disease definitions, related diagnostic and therapeutic approaches offer incomparable advantages.

Dr. Zhang Wei, Founder and CEO of Guangzhou Jiajian Medical Testing Co., Ltd. and a National Specially Appointed Expert, stated: “As our understanding deepens regarding the profound impact of genetic diseases on patient families and society, and given the increasingly widespread application of gene/genomic testing technologies in the prevention and control of birth defects, it is essential to further promote the ‘domestic production, localization, specialization, and professionalization’ of gene/genomic testing. This will facilitate advancements in clinical practice, ensure the quality of gene/genomic products, and better leverage the unique characteristics of this specialty and profession.”

(Dr. Zhang Wei, photo provided by the company)

“Jiajian Medical is committed to becoming the preferred partner for birth defect prevention and control, thereby bridging the last mile in the clinical application of gene/genome testing. Jiajian Medical will continue to dedicate itself to its mission and vision, promote the development of clinical genetics specialties, implement high-quality services and products related to birth defect prevention and control, and work together with all stakeholders to reduce the incidence of birth defects.”

The original intention behind founding Jiajian Medical stemmed from Professor Lu Guohui, Founder and Chief Medical Officer of Jiajian Medical, who initiated exchanges on prenatal genetic disease diagnosis during his first return to China for the Spring Festival in 1994 and continued these annual visits thereafter. In particular, since 2010, he has been consistently encouraged by Academician Xu Guanhua, former Minister of Science and Technology, to return to China. Professor Lu aims to address diagnostic challenges related to “birth and death”—namely, the prevention and control of birth defects and the diagnostic consultation for hereditary tumors—thereby providing clinically rational and appropriate solutions for the public.

(Professor Lu Guohui, photo provided by the company)

Professor Lu Guohui is also the initiator and promoter of the discipline of clinical genetic counseling in China, as well as a Scientific American Person of the Year. He stated, “With the rapid advancements in the clinical application of gene/genomic testing technologies, Guangzhou Jiajian Medical Testing Co., Ltd., founded in 2015 and based in Guangzhou for over four years, has provided diagnosis and screening for monogenic genetic diseases to tens of thousands of individuals across China, offering effective diagnostic and genetic counseling solutions to numerous patients with hereditary disorders.”

It is worth mentioning that the second edition of Prenatal Diagnosis of Genetic Disorders, authored by Professor Lu Guohui, will be published in the first half of 2020. Professor Lu told reporters, “The updated second edition represents a substantial professional and technical advancement over the first edition, which I edited in 2002. It will once again be applied to the prenatal diagnosis of genetic diseases and the prevention and control of birth defects, thereby contributing to the implementation of the ‘Healthy China 2030’ initiative.”

Ms. Yang Jin, Partner at Green Pine Capital, stated, “We are delighted to have the opportunity to partner with Guangzhou Jiajian Medical Testing Co., Ltd. (Jiajian Medical) and jointly witness the transformative era in which China’s clinical practice truly enters the age of genomic precision diagnostics. Jiajian Medical possesses distinct advantages, with its patented technologies and product portfolio built upon a profound understanding of clinical needs. Our due diligence has revealed that Jiajian Medical boasts a highly capable team, robust R&D capabilities, and strong clinical recognition. Therefore, we are eager to support Jiajian Medical as it embarks on this journey, striving forward with determination.”

(Ms. Yang Jin, Partner at Green Pine Capital)

Dr. Lin Guochun, the representative of the executive partner at Zhiyuan New Star, stated, “We are honored that our fund has participated in this round of financing for Jiajian Medical. In my view, Jiajian’s core value lies in two aspects: robust testing technologies and products that address clinical market demands. This has been validated by the acceptance of Jiajian’s continuous expansions by major hospitals over the past three years. Secondly, Jiajian dares to enter the evidence-based market. In the Chinese market, how can clinical diagnostic conclusions be drawn without using genetic data from the Chinese population for comparative analysis? All these factors constitute a solid foundation for Jiajian. Furthermore, we believe the Jiajian team aligns with common investment criteria: Jiajian Medical has demonstrated the ability to turn the tide in times of adversity and to press its advantage during periods of stability. This is precisely the type of investment target that investors dream of. We hope the Jiajian team will make our dreams come true in the future!”

(Dr. Lin Guochun, Representative of the Executive Partner of Zhiyuan New Star; photo provided by the company)

According to data published by the World Health Organization, there are approximately 7,000 confirmed monogenic genetic diseases worldwide. Although the incidence rate of each individual genetic disorder is low, the overall prevalence is high due to the vast number of disease types. Statistical data from China’s former Ministry of Health in 2012 indicated that the birth defect rate in China was 5.6%, with preventable and controllable genetic disorders accounting for approximately one-quarter of these cases. Except for a small proportion that can be corrected through medical interventions, most monogenic genetic diseases carry risks of mortality, disability, or congenital malformations, and lack effective treatment options. These conditions involve multiple medical disciplines, present complex clinical signs and symptoms, and pose significant challenges in diagnosis and management. The lifelong family and socioeconomic burden associated with caring for a child affected by a genetic disorder amounts to nearly RMB 4 million.

There is a substantial clinical demand for the development of precise genetic testing and diagnosis of genetic diseases at this stage. Particularly in the context of China’s relaxed two-child policy, screening and diagnosis of genetic disorders are especially critical, as they can effectively reduce birth defects and alleviate the burden on families and society.

Dr. Zhang Wei stated, “Since its inception, Guangzhou Jiajian Medical Testing Co., Ltd. has adhered to the use of custom-designed probes to ensure that the quality of data obtained meets clinical application standards. Through five years of accumulation and refinement, the company has completed the development and validation of a high-precision, fully automated sequencing data analysis and reporting system for genetic diseases. By deploying its proprietary intelligent analysis system in key stages of genetic testing analysis, Jiajian Medical ensures professionalization and standardization while progressively advancing localization and domestic production.”