Alibaba leads $87m funding in biotech firm Creative Biosciences

Chinese early-stage cancer screening solution specialist Creative Biosciences (Guangzhou)  Co., Ltd has raised 560 million yuan ($87 million) in its Series D round led by Alibaba.

The new round attracted a line-up of new investors including China Renaissance’s sub-fund Huaxing Growth Capital, Costone Capital, Agriculture Bank of China’s ABC International, Shanghai-based Henglu Asset, besides existing backer IDG Capital.  

China Renaissance facilitated the transaction. 

The firm had raised 600 million yuan ($93 million) in its Series C round in September last year led by Tsing Song Capital with the participation from IDG Capital, GDD Industry Fund Investment Group, Oceanpine Capital, among others. 

Established in 2015, Creative Biosciences provides early-stage cancer screening and diagnostics kits targeting colorectal cancer. In partnership with over 600 leading hospitals and clinics, the company has helped complete over 200,000 detections. 

Creative Biosciences is extending the screening solutions for cancers of the liver, cervix, and bladder. 

In March last year, Creative Biosciences had acquired Helixgen (Guangzhou), a precision medicine player, which specialises in molecular diagnostics and testing platforms. “Early-stage screening is indispensable for healthcare, and it is a key to protect people from severe diseases,” said China Renaissance.

Prior to it, Creative Biosciences had also secured funding from CHD Investments, Shenzhen Qianhai FOF,  healthcare-led CD Capital, YuanBio Venture Capital and Jinhe Capital, Chongqing Boyi Equity Investment Fund Management, and Tasly Holding Group. 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.