WuXi NextCODE Secures $75 Million Series B Funding to Accelerate Commercialization of Consumer Genomics Solutions in China

On May 2, WuXi NextCODE, a global genomics R&D service provider (CGO) under the WuXi AppTec Group, with headquarters in Shanghai, China, and offices in Cambridge, Massachusetts, USA, and Reykjavik, Iceland, announced that it had secured $75 million in Series B financing.

This round of financing was co-led by Temasek and Yunfeng Capital. Other investors included Amgen Ventures, the venture capital arm of Amgen; 3W Partners, a private equity firm focused on cross-border investments in the Greater China region; as well as other long-term investors and partners.

Mingma Bio was established through the integration of WuXi AppTec’s Genomics Center and NextCODE Health, an Icelandic leader in precision medicine big data analytics. As a global pioneer in the field of precision medicine, the company is dedicated to improving human health by leveraging big data in precision medicine. It features an integrated open platform that includes China’s first laboratory to achieve dual accreditation from the US Clinical Laboratory Improvement Amendments (CLIA) and the College of American Pathologists (CAP), as well as the NextCODE Precision Medicine Big Data Analytics and Interpretation System—the only system globally validated and optimized using whole-genome data from 300,000 individuals—supporting both cloud-based and on-premises deployment.

In January 2015, WuXi AppTec acquired NextCODE Health, an Icelandic company specializing in genomic analysis and bioinformatics, for $65 million. As an industry leader in genomic analysis and bioinformatics, NextCODE Health is dedicated to helping clinicians, research institutions, and corporate R&D teams worldwide leverage whole-genome data to improve disease diagnosis and treatment. The company originated from Iceland’s deCODE genetics, which first identified multiple disease-associated genes and launched the world’s largest sequencing project in 2010. This initiative sequenced the whole genomes of more than 300,000 individuals and established the world’s only database storing whole-genome information for over 300,000 people.

In 2012, deCODE was acquired by Amgen and reorganized into NextCODE Health. In October 2013, NextCODE obtained a five-year exclusive license from Amgen for the gene-based clinical diagnostic application technologies developed by deCODE. In 2015, WuXi AppTec acquired NextCODE and integrated it with its own genomics center to establish a subsidiary, WuXi NextCODE Genomics. The new company provides comprehensive gene sequencing and bioinformatics services to global clients, including CLIA-certified whole-genome and whole-exome sequencing, as well as essential sequencing data analysis and interpretation services to support diagnosis and treatment.

As a genomics service provider with a global perspective, BGI Genomics is committed to advancing precision medicine worldwide. In September 2015, BGI Genomics signed a cooperation agreement with the Children’s Hospital of Fudan University to jointly establish a pediatric genetic disease laboratory and promote the development of precision healthcare in China. Leveraging world-class genomics analysis platforms, this leading Chinese pediatric hospital aims to build a national-level center for comprehensive diagnosis, research, treatment, and care of pediatric genetic disorders.

In October of the same year, Mingma Biology signed a long-term cooperation agreement with Sidra Medicine, a renowned medical, research, and educational institution in Qatar. The two parties will jointly conduct comprehensive genomic research and related bioinformatics projects. Leveraging a world-leading population-scale genomic information analysis platform, this collaboration will bring significant benefits to patients in Qatar, the Arab region, and even worldwide.

In January 2017, Mingma Bio announced the establishment of a long-term strategic alliance with AbbVie (NYSE: ABBV), a globally renowned research-based biopharmaceutical company, and Genome Medical Ireland (GMI), an emerging life sciences enterprise. VCBeat (WeChat: vcbeat) had also previously reported on this collaboration,Click here for details。

A nationwide population genomics study in Ireland is being conducted to develop new treatment strategies for a range of severe complex diseases. The consortium will engage in a 15-year collaboration, focusing on chronic conditions affecting the tumor, nervous, and immune systems that impact the health of hundreds of thousands of people in Ireland and hundreds of millions worldwide.

Also in January, Mingma Biotech and the renowned cardiovascular research institution, the National Heart Centre Singapore (NHCS), announced a partnership to jointly advance Singapore’s population-scale genomics research project and precision medicine initiative.

In addition to leveraging its cutting-edge technology to advance global precision medicine, Mingma Biotechnology is also seeking other partners to continuously enhance its technological capabilities.

In May 2016, BGI Genomics and Huawei jointly launched the Precision Medicine Cloud Platform—BGI Cloud. As China’s first precision medicine cloud platform, it integrates WuXi AppTec’s world-class pharmaceutical R&D capabilities, BGI Genomics’ extensive end-to-end technical expertise in analyzing, mining, and sharing genomics and precision medicine big data, and Huawei’s leading cloud computing capabilities. BGI Cloud aims to build a nationwide, standardized, secure, and reliable big data platform for precision medicine, thereby promoting the centralization and application of genomic information and precision medicine big data in China.

In February 2017, BGI Genomics entered into a partnership with Geneformics, a data systems company. Geneformics is an industry pioneer in global genomics IT architecture and the storage, transmission, and archiving of gene sequencing data. Under the agreement, BGI Genomics will formally integrate Geneformics’ world-leading gene sequencing data technology into its own workflows. The two parties have joined forces to streamline big data in global genomics.

Mingma Biotechnology will leverage this financing round to accelerate the commercialization of its solutions for the Chinese consumer market, strengthen its leadership in bioinformatics, and further expand its capabilities in artificial intelligence and deep learning.

Hannes Smarason, CEO of Mingma Biotechnology, stated, “We are committed to building a globally leading genomic big data management platform, driving the large-scale application of genomic sequence data, and promoting human health. Our rapid business growth is advancing national precision medicine initiatives, genetic diagnostics, and healthcare development in multiple countries worldwide.”

“Genomics represents the perfect fusion of life sciences and big data,” said Dr. Ge Li, Founder and Chairman of WuXi AppTec Group and Chairman of BGI Genomics. “BGI Genomics possesses comprehensive capabilities in the digitization, management, and analytical application of genomic big data. Its unique positioning aims to build an open platform for data and technological capabilities, enabling any organization or individual to benefit from genomic big data.”