Beijing Genetron Health Technology Co., Ltd. (hereinafter referred to as “Genetron Health”) recently announced that it has successfully completed a Series A financing round of RMB 200 million, marking the largest Series A investment in China’s precision medicine sector—specifically in the field of liquid biopsy—to date. The round was led by BGI Genomics, with participation from Volcanic Stone Investment, Sinopharm Capital, and other investors.
The primary use of this round of financing is to launch the cfDNA Baseline Project and establish a baseline database for tumors in the Chinese population. GenePlus plans to preliminarily complete 12 cfDNA baseline projects within the next two years, covering major tumors at both early and late stages, genetic risks, immune status, and biological baselines in healthy individuals. Among these, the establishment of a dynamic continuous monitoring baseline database for tumor patients will provide precise and critical genetic testing evidence to guide every step of clinical treatment for tens of millions of cancer patients in China. Meanwhile, the creation of a baseline database for healthy individuals will lay the foundation for early and precise detection, enabling hundreds of millions of healthy people in China to take a crucial step forward in tumor prevention. Additionally, part of the funds will be allocated to the research and development of tumor genetic testing reagents, regulatory submissions, and the expansion of commercial marketing systems and market promotion.Dr. Yi Xin, Chairman and Chief Technology Officer of GenePlus, pointed out that by 2020 at the latest, cancer would become one of the most critical medical, health, and social issues in China, posing significant challenges to existing medical technologies and prevention and control measures. Tumor genetic testing technologies, represented by NGS and ctDNA, will be key to addressing this issue. GenePlus welcomes the growing attention from experts, capital, and the public toward this field, which will accelerate the clinical translation and application of these technologies. We aim to leverage our steady, cumulative growth and adhere to academic rigor and professionalism to become the most trusted partner and testing institution for our clients.Yin Ye, CEO of BGI Genomics, stated: “This strategic investment is based on our years-long understanding of GenePlus’s core team, our recognition of its rapid market expansion over the past year since its founding, and our strong alignment with its future development strategy. GenePlus possesses rare industry experience in next-generation sequencing (NGS) and deep expertise in the oncology field, which are uncommon among its peers. As a leader in the NGS industry, BGI Genomics is pleased to serve as a platform supporting vertically focused companies within the sector. Moving forward, BGI Genomics will further provide multifaceted support and assistance, including brand endorsement, capital investment, and industry resources.”Zhang Suyang, Founding Partner of Volcanic Stone Investment, stated that after 2020, a trend will emerge in which biogenetic technologies drive the overall advancement of society. In the future, human-related issues, including human health concerns, will ultimately be traced back to genetic-level problems. With the comprehensive development of gene technology, most of these issues will be resolved, with oncology being a primary focus. As a genomic disease characterized by strong heterogeneity and rapid evolution, cancer may see liquid biopsy—particularly ctDNA testing—become the most powerful and practical diagnostic tool for clinicians. We are optimistic about the prospects of this technology. Since last year, we have conducted extensive due diligence on numerous companies and ultimately selected Geneseeq. Given the complexity of ctDNA testing services, there can be no significant weaknesses. The Geneseeq team boasts strong comprehensive capabilities, a highly complete structure, and robust performance across all operational stages. They have accumulated substantial expertise and experience in ctDNA technology, product development, and clinical application.Li Wei, Managing Partner at Songhe Capital, stated, “I have known the founding team of Geneseeq for several years and admire their dedication and efforts in the field of oncology genetic testing. I hope that Geneseeq will fully leverage its professional and first-mover advantages to create greater social value and provide better services to those in need, particularly in the areas of specialized technology, clinical applications, and customer experience.”[Gene+ Introduction]Gene+ specializes in the field of tumor genetic testing and was founded in Beijing in April 2015. Since its establishment, Gene+ has built high-throughput sequencing genetic testing laboratories, bioinformatics analysis systems, and oncology medical interpretation teams according to the highest industry standards. It has independently developed core technologies such as ER-Seq, mTBI, and mClone, initially forming a non-invasive, precise, and dynamic ctDNA detection system. The company provides customers with a series of clinical services and products, including precision oncology medication, efficacy monitoring, postoperative recurrence detection, and early screening. Currently, Gene+’s service network covers 18 key provinces and municipalities across China, more than 100 hospitals, and hundreds of oncology clinical experts. To date, Gene+ has undertaken more than 60 ctDNA scientific research collaboration projects, served over 1,000 cancer patients, accumulated more than 6,000 tumor samples and data cases, and generated up to 60 TB of tumor gene sequencing data. With strong scientific research capabilities, leading mutation detection rates, and professional medical interpretation expertise, Gene+ is increasingly gaining high recognition from clinical partners and cancer patients.[Introduction to BGI]BGI Genomics Co., Ltd. (hereinafter referred to as “BGI Genomics”), adhering to its vision of “Genomic Technology for the Benefit of Humankind,” is committed to advancing biological research and improving global healthcare. Leveraging research achievements in genomics and the application of biotechnology in public health, BGI Genomics has strategically positioned itself in scientific research and industry development. The company is dedicated to facilitating and accelerating scientific innovation, reducing birth defects, strengthening cancer prevention and control, mitigating the impact of major diseases on human health, achieving precise treatment of infections, and advancing precision medicine. BGI Genomics serves clients in more than 100 countries and regions worldwide, including over 1,500 research institutions and 800 medical institutions across 31 provinces, autonomous regions, and municipalities in China, as well as more than 2,000 overseas medical and research partners in Europe, the Americas, Oceania, and other regions.[Volcanic Stone Investment Profile]Shanghai Volcanic Stone Investment Management Co., Ltd. (hereinafter referred to as “Volcanic Stone Investment”) was founded in Shanghai in May 2016 by three premier partners from leading USD/RMB funds. Harnessing immense momentum and cultivating substantial value, Volcanic Stone Capital is committed to investing in and supporting high-growth innovative startups in the fields of China’s internet innovation, pan-intelligent technologies, and healthcare. Through this mission, it has grown into one of China’s top-tier professional venture capital firms.[Introduction to Songhe Capital]Shenzhen Songhe Capital Management Co., Ltd. (hereinafter referred to as “Songhe Capital”) is a specialized venture capital management company established in 2007 by Shenzhen Shen-Gang Industry-University-Research Venture Capital Co., Ltd. Songhe Capital’s vision: Empower innovators and walk alongside greatness; create value and share prosperity. The core team of Songhe Capital boasts over 18 years of experience in venture capital, manages assets under trust exceeding RMB 9 billion, has cumulatively invested in more than 200 companies, and has seen 36 of these portfolio companies successfully go public or be acquired.
