Chinese genomics player Novogene has picked up $75 million in Series B financing, which it will use to boost its next-generation sequencing reach and its clinical sequencing R&D.
Novogene’s genomics offerings include single-cell sequencing and microbial genome sequencing, in addition to whole human genome sequencing. It offers inherited disease and cancer screening, as well as tissue and liquid biopsies.
Based in Beijing, Novogene operates the largest genomic sequencing site in the Asia-Pacific region, according to a statement. It has a lab in China that offers tumor gene detection and genetic screening services to patients, hospitals and pharma companies in China. It also runs labs in the U.S. and and has subsidiaries or joint ventures in the U.K., Singapore and Hong Kong.
"Since being founded in 2011, Novogene has rapidly emerged as a global leader in genomics and bioinformatics, pioneering the application of biology, computer science and information technology in animal and plant research as well as human health. This financing will enable us to continue to build on that momentum,” said CEO Ruiqiang Li in a statement Wednesday.
China Merchants Bank’s International Capital Management, SDIC Innovation and Sigma Square Capital participated in the financing. In addition to expanding its NGS market, the company will use the funds to boost its clinical sequencing services.
In December 2015, diagnostics giant Illumina tapped Novogene to develop clinical tests that use its NGS technology. The duo are working on a diagnostic system for clinical prenatal DNA and for oncology testing.