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BUSINESS & TECH

Gene-Detection Firm Raises $62 Million

Genetron Health (Beijing) Co. Ltd. plans to seek additional investments this year in addition to the $61.5 million it announced this week, but is mum about whether it plans an initial public offering in Hong Kong, where the bourse has lowered the listing threshold for biotech companies with valuable core technology. Photo: Visual China
Genetron Health (Beijing) Co. Ltd. plans to seek additional investments this year in addition to the $61.5 million it announced this week, but is mum about whether it plans an initial public offering in Hong Kong, where the bourse has lowered the listing threshold for biotech companies with valuable core technology. Photo: Visual China

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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