Origimed Secures Hundreds of Millions RMB in Series B Funding to Advance Comprehensive Precision Oncology Platform

On December 20, 2018, VCBeat learned that Geneseeq Medical Technology (Shanghai) Co., Ltd. (hereinafter referred to as “Geneseeq Medical”) officially announced the completion of its Series B financing, amounting to hundreds of millions of RMB. The round was led by Yuanyi Capital, with participation from Weidu Capital, an investor in the pre-A round. Index Capital served as the exclusive financial advisor.

This round of financing will be used for R&D investment in the next phase and to expand the clinical influence of China’s most comprehensive precision oncology data platform. Previously, Geneseeq Technology secured angel-round funding led by IDG Capital at its inception, with participation from Volcanic Stone Capital and Sinopharm Capital.

Founded in May 2016, Geneseeq Technology is dedicated to the research and development of high-tech solutions and their clinical translation in oncology. By conducting comprehensive profiling of hundreds of cancer-related genes across a broad spectrum of cancers, Geneseeq supports physicians in delivering precision medicine and drives innovation in clinical cancer care in China.

Leveraging globally advanced sequencing and bioinformatics technologies, along with extensive clinical annotation and case experience, Geneseeq has developed a product that covers all solid tumor types and can simultaneously guide targeted therapy and immunotherapy. It also pioneered the launch of Dr. Marmot, an app for sharing precision medicine data.

Since its establishment, Geneseeq Technology has completed strategic deployments across multiple regions, including Shanghai, Shenzhen, Shenyang, Taizhou, and Jinan. Currently, Geneseeq Technology employs over 300 staff members, with its business covering hundreds of major hospitals nationwide and serving more than 1,000 clinical physicians.

As an innovative enterprise dedicated to comprehensive precision oncology, OrigiMed leverages its proprietary bioinformatics algorithms and independently developed databases of tumor genomics, clinical data, and pharmaceutical information tailored to the Chinese population, striving to become a leading provider of precision cancer treatment in China.

In August 2017, Geneseeq Technology announced that Professor Matthew Meyerson, a global expert in cancer genomics; Professor Gordon Freeman, a pioneer of immunotherapy; Professor Carlos Arteaga, a renowned clinical expert; and Professor Tony Mok, an international expert in lung cancer, had officially joined the Scientific Advisory Board of Geneseeq Technology.

Furthermore, Genecast Biotechnology has established multiple international collaborative platforms with renowned institutions such as the International Cholangiocarcinoma Research Network (ICRN), The University of Texas MD Anderson Cancer Center, Mayo Clinic, and Massachusetts General Hospital (MGH), including the International Precision Medicine Collaboration Platform for Hepatobiliary Cancers and the Pan-Cancer International Molecular Tumor Board.

In August 2018, Geneseeq Technology successfully obtained the official accreditation certificate from the College of American Pathologists (CAP), marking that its standardization and accuracy in laboratory quality management systems, experimental technical capabilities, bioinformatics analysis, and clinical interpretation have all reached international first-class laboratory standards. Its test reports have been recognized by this authoritative U.S. association of pathologists.

A series of bioinformatics analysis algorithms developed by Geneseeq Technology have been granted multiple patents, ensuring more rigorous, precise, and comprehensive sample analysis.

In September 2018, at the Chinese Society of Clinical Oncology (CSCO) Congress, Geneseeq Technology announced the joint launch of the Big Data Platform for Genomic Informatics of Cancer Types with Chinese Characteristics, in collaboration with the CSCO Clinical Oncology Research Foundation and the Oriental Clinical Oncology Research Center. This milestone signaled that China’s gene sequencing industry had officially entered the big data era characterized by the integration of clinical and genomic data.

Far Wing Capital is an independent industrial investment fund managed by a professional team, with Far East Horizon (HK.03360), a company listed on the Hong Kong Stock Exchange, as its primary sponsor. It focuses on investing in high-quality growth-stage enterprises in China. Far East Horizon Healthcare Group is China’s earliest integrated financial and industrial operation service provider dedicated to the healthcare sector. To date, it holds controlling stakes in more than 50 medical institutions, operates nearly 20,000 hospital beds, and serves tens of millions of patients annually.

Weidu Capital is a boutique fund focused on the healthcare sector, with significant investments in the cross-disciplinary application of new technologies in healthcare and innovative healthcare service models. Its portfolio includes Shuoshi Biotechnology, Weiyi Orthopedics, and Yu Xueyuan, among others. Weidu Capital places particular emphasis on platform-based companies that leverage big data and demonstrate outstanding technological and product capabilities. After making an exclusive investment in Zhiben Medical Technology’s Pre-A round in 2016, Weidu Capital has continued to participate in this subsequent funding round.

Star VC led the Series A financing round for Zhiben Medical Technology. Star VC focuses on identifying companies with the strongest technological innovation capabilities in sectors such as new retail, new finance, new technology, and new education, and invests in them at an early stage.

To date, StarVC has invested in numerous high-quality enterprises, including Yixia Technology, Huole Technology, Handu Yishe, Rong360, LeDou Games, SenseTime, QuantPai, Zhangmen 1-on-1, and Zero One Space, among other high-growth projects, and has nurtured multiple unicorn companies.