Gene Testing Draws Spotlight with $109 Million in Funding Over 15 Days
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According to VCBeat.From October 28 to November 10, 2016, global digital health financing totaled approximately $313 million, with gene testing projects securing around $109 million, accounting for one-third of the total funding. VCBeat has compiled an overview of the funded gene testing projects for readers’ reference.
Cloud Health
Cloud Health Genomics Technology (Shanghai) Co., Ltd. (hereinafter referred to as “Cloud Health”) was established in September 2014. As a genomics research and service provider, it specializes in gene sequencing services while also offering users premium health check-ups, health consultations, wellness management, and expert consultations.
The company is among the first batch of genetic testing demonstration centers designated by the National Development and Reform Commission (NDRC) and serves as the China Pilot Free Trade Zone International Precision Medicine Cooperation Center. It has been approved to participate in national-level major projects, including the development of big data standards for precision medicine under the 13th Five-Year Plan. Cloud Health provides genetic testing services to institutions and individuals. Personal genetic testing offerings include pharmacogenomic testing, obesity predisposition screening, cancer risk assessment, and comprehensive health evaluation. These tests are conducted using the HiSeq X Ten ultra-high-throughput whole-genome sequencing platform. Currently, Cloud Health holds nearly 20,000 whole-genome datasets from Chinese individuals and has secured 13 patents and software copyrights.
On October 31, 2016, Yun Jiankang entered into an equity investment agreement with the Yangzi Technology Venture Capital Equity Investment Fund, under Yangzhou State-owned Capital Investment Group (Yangzi Guotou), securing nearly RMB 100 million in strategic investment.
Meiyin Gene
Mein Health Technology (Beijing) Co., Ltd. (hereinafter referred to as “Mein Gene”) was established in January 2016, initiated and invested by Yu Rong, Chairman of Meinian Onehealth. It provides genetic testing services for scenarios including health management, clinical medicine, and scientific research. Mein Gene owns a high-throughput sequencing and bioinformatics analysis platform, offering testing services to both the general public and professional institutions.
Currently, the company’s marketed products include the “Meiyin An” susceptibility gene test, early colorectal cancer screening, personal genomic testing, and sports nutrition genetic testing. It has established collaborative partnerships with numerous health checkup chains and Grade 3A hospitals.
Recently, Meinian Gene announced strategic partnerships with seven investors, including Maccura Biotechnology and the Zhuhai Zhongwei Yijian Equity Investment Fund, and completed its Series A financing round of RMB 167 million. The funds will be used to build a large-scale gene sequencing center and a Chinese population genotype-phenotype data center, aiming to explore the relationships between diseases and multi-omics data—including personal genomics, proteomics, microbiomics, metabolomics, as well as data from mobile smart devices—thereby providing big data support for disease etiology discovery, drug development, and health interventions.
Yizhen Biotech
Yizhen Bio is a high-tech biotechnology company that advocates for disease prevention and healthy living guided by personal genetic information. Leveraging next-generation sequencing platforms and proprietary technologies, it provides professional genetic testing products and services for both clinical applications and the general public.
Yizhen Biotechnology was founded in 2014 by Professor George Church of Harvard Medical School and other co-founders, with offices established in North America, Asia, and Europe. In November 2015, Hangzhou Yizhen Biotechnology Co., Ltd. was established.
In 2016, MIT Technology Review selected the “50 Smartest Companies of the Year,” with Yizhen Bio ranking 40th. Regarding Yizhen Bio’s inclusion, the reviewers from MIT Technology Review stated, “Beyond conventional genetic testing and analysis, Yizhen Bio provides whole-genome sequencing and data interpretation services at affordable prices, truly helping patients and physicians access more comprehensive genetic information, thereby continuously enhancing the diagnostic value for both parties.”
In October 2016, Ezhou Biology secured RMB 200 million in Series B financing from Lilly Asia Ventures, Trustbridge Partners, and Simcere Pharmaceutical. Zhao Yining, Founder and President of Asia at Ezhou Biology, stated that the funds would be used to expand genetic testing products and services, strengthen business operations, enhance customers’ digital experience, and establish strategic partnerships with hospitals and researchers globally.
GMI
GMI (Genomics Medicine Ireland), established in January 2015, is a life sciences company specializing in genomics research. It is dedicated to building a human genomic data analysis platform to better understand the role of genes in diseases and rare disorders, and to develop novel prevention and treatment strategies.
GMI’s platform is built on the support of deCODE, an Icelandic subsidiary of Amgen. Founded in 1996, deCODE is a biopharmaceutical company widely regarded as the birthplace of human genome research. Its genetic testing services, developed by its founder and CEO, Dr. Kári Stefánsson, have demonstrated that population genomics can provide an effective, systematic approach to elucidating the fundamental biology of major diseases and identifying novel drug targets. The pioneering methods developed by deCODE will be further integrated into GMI’s models to benefit patients.
Recently, GMI announced the completion of a $40 million Series A financing round, with investors including the Ireland Strategic Investment Fund (ISIF), ARCH Venture Partners, Polaris Partners, and GV. The funds will be used to establish a world-class genomic research and development project in Dublin, and are expected to create 150 high-tech jobs focused on genomic research over the next three years.
Recently, Irish Prime Minister Enda Kenny officially announced this news, expressing his belief that GMI will also have an impact on the local economy. “When the government established the Ireland Strategic Investment Fund, we aimed to encourage new investments in emerging fields such as next-generation healthcare solutions and to create new job opportunities. With a world-class talent portfolio backed by global investors, I have no doubt that the scientific platform developed by GMI will become a leader in disease prevention and treatment, as well as in the treatment of rare diseases.”
GMI is expected to announce its first collaboration with an Irish hospital in the coming weeks and is actively engaging in partnership discussions with clinical institutions across the island.
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