China Structural Reform Fund led a $149m Series E round in Genecast Biotechnology.

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.