Gene-Detection Firm Raises $62 Million
A Beijing-based company that employs gene detection for cancer treatment has secured more than 400 million yuan ($61.5 million) in its latest round of fundraising.
Genetron Health (Beijing) Co. Ltd. said Thursday that it will use the funding to further commercialize its products and gather clinical data.
Because of the falling cost of gene testing and the large number of cancer patients in China, there is a huge potential market for cancer-gene detection businesses, said Liu Fan, general manager of a health care investment fund under China International Capital Corp. (CICC), which led the investment in Genetron.
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