Genetron Health Announces Over RMB 500 Million in New Financing to Advance End-to-End Precision Oncology Solutions Across the Cancer Care Continuum
VCBeat (WeChat ID: vcbeat) has learned that on November 21, 2019, Beijing Genetron Holdings Limited announced a new round of financing exceeding RMB 500 million. The round was led by VIVO Capital, the CICC Healthcare Investment Fund under CICC Capital, and Alexandria Venture Investments, with participation from Hui Capital and existing shareholders.
This round of financing will be used to deepen translational medical research, product development, and commercialization in three core business areas: early cancer screening, diagnosis and monitoring, and pharmaceutical company services, thereby continuously building a precision medicine closed-loop system that covers the entire cancer care continuum.
Mr. Wang Sizhen, Co-founder and CEO of Genetron Holdings Limited, stated, “As a pioneer in the industry, we have been deeply involved in and have driven the inception and development of China’s precision oncology sector. We are delighted to gain recognition from numerous internationally leading biomedical specialized funds at this critical stage of industry development, which signifies the rise of China’s biotech innovation capabilities.”
Mr. Fu Shan, Managing Partner at VIVO Capital, stated, “We have closely monitored emerging forces in China’s precision oncology sector for many years. Genetron Holdings Limited boasts internationally leading technological innovation capabilities. From its ‘One-Step’ technology that significantly simplifies NGS testing workflows, to its highly promising ‘Mutation Capsule’ technology in the field of early cancer screening, every major advancement made by Genetron has been driven by technological innovation. Furthermore, the Genetron team’s global perspective, forward-looking market insights, and exceptional execution capabilities have demonstrated its potential to become an industry leader rooted in China with a global impact.”
Ms. Wu Xia, Managing Director of CICC Capital, stated, “Since Genetron Holdings Limited completed its previous round of financing, we have witnessed the team’s steady progress and continuous breakthroughs in R&D, product registration, and commercialization. We are optimistic about the sector in which Genetron operates. In this round, we have increased our investment, and we will continue to provide strong support for the company’s future development.”
Mr. Wang Hui, Founding Partner of Honghui Capital, stated: “The Genetron team has driven the rapid clinical translation of basic scientific research by leveraging its outstanding comprehensive capabilities. Its products and services cover the entire diagnosis and treatment cycle for multiple high-incidence cancers, making it a rare exemplary enterprise in the industry that excels in both ‘technology’ and ‘business.’”
About VIVO Capital
About CICC Capital
CICC Capital serves as the sole private equity investment platform of China International Capital Corporation Limited (“CICC”), centrally managing CICC’s onshore and offshore private equity fund businesses. Committed to becoming a premier private equity management platform, CICC Capital boasts strong brand influence, exceptional fundraising and investment capabilities, and robust middle- and back-office management systems. Meanwhile, CICC Capital continuously diversifies its product offerings and expands its business scope across multiple dimensions, including products, industries, and regions. The funds managed by CICC Capital encompass government guidance funds, existing economic reform funds, USD fund-of-funds, RMB fund-of-funds, USD equity investment funds, RMB equity investment funds, and merger-and-acquisition (M&A) funds, among others. Currently, CICC Capital manages approximately RMB 300 billion in assets and employs a professional investment management team of around 300 individuals, positioning it as one of China’s leading private equity investment management platforms. Looking ahead, CICC Capital will continue to actively explore innovative investment sectors and business models, build comprehensive and multi-tiered equity investment capabilities, refine its management systems, and enhance its brand impact, thereby delivering strong returns to its shareholders.
About Honghui Capital
Honghui Capital (hereinafter referred to as “HLC”) is an investment institution focused on the “Healthy Living” sector, dedicated to serving leading enterprises that provide technological products and differentiated services for human disease diagnosis and treatment, as well as healthy living. HLC has conducted in-depth research and practice across the biopharmaceutical industry chain (including innovative drugs, CROs, and bioengineering), the health equipment sector (such as medical consumables and diagnostic devices), and the health consumer sector (including hospital chains, personal care, and pet care). Currently, HLC manages dual-currency funds in RMB and USD, with total assets under management nearing RMB 10 billion.
About Genetron Holdings
As a pioneer in the field of precision oncology in China, Genetron Holdings Limited adheres to the full-cycle R&D philosophy of “Explore, Discover, Apply, Transform,” and upholds a comprehensive quality control system featuring “6 QC checkpoints, 5-dimensional oversight, and 3 QC strategies,” providing users with end-to-end testing services “from research to clinical practice.” Genetron operates dual R&D centers in China and the United States, maintains four medical laboratories with a total area exceeding 10,000 square meters, and holds dual CAP and CLIA accreditations. The company also boasts an industry-renowned, multidisciplinary expert team with academic expertise spanning cancer genomics, bioinformatics, pharmacology, clinical pathology, and other fields.