Announced
Completed
Financials
Tags
Completed
China
sequencing technology
Private
Minority
Biotechnology
Single Bidder
bioinformatics
Domestic
Friendly
Acquisition
Private Equity
Synopsis
China Structural Reform Fund, a state-owned private equity fund, led a $149m Series E round in Genecast Biotechnology, a Chinese biotech startup that specializes in second-generation sequencing technology and bioinformatics. Other investors include Taikang Asset Management, CCB International, Hillhouse Capital and China Renaissance. Genecast Biotechnology will use the proceeds from the financing round to develop new diagnostics products for tumors, accelerate the registration and application of its in vitro diagnostic devices and expand its marketing channels.
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