Chinese biotech startup nets $152m in CICC-led series B round

Singlera Genomics, a Chinese company focusing on non-invasive early cancer detection, announced that it has raised 1 billion yuan (US$152.7 million) in series B fundraising led by China International Capital Corporation’s (CICC) biomedical-focused fund, Furong Capital, and DT Capital Partners.

Huamei Group, Linden Asset, Wuxi Capital, FutureX Capital, and Shanghai Free Trade Zone Equity Investment Fund Management also participated in the round.

Existing investors Green Pine Capital Partners, Prosperico Ventures, and Proxima Ventures also joined in.

Photo credit: Singlera Genomics

Launched in 2014, Singlera Genomics develops technologies related to the analysis of cell-free DNA (cfDNA), an approach for non-invasive cancer screening and monitoring. Its main products and services include cancer screening, diagnosis, and personalized treatment.

The firm aims to improve clinical outcomes for cancer patients through early-stage detection and “accurate and informative” cancer diagnoses.

With the new funds, the startup plans to invest in the research and development of its early-stage cancer detection products, as well as accelerate the registration, production, and commercialization of its existing offerings.

The company was founded in San Diego, and currently has research and development centers and business operations in California and Shanghai.

Prior to the investment, the biotech startup closed US$20 million in a series A round from Lilly Asia Ventures, Green Pine Capital Partners, and CD Capital in 2016. In 2018, it raised US$60 million in a series A+ round led by Green Pine Capital Partners and Prosperico Ventures.

Currency converted from Chinese yuan to US dollar: US$1 = 6.55 yuan.