China’s transgenic animal models provider Cyagen Biosciences has raised 285 million yuan ($41 million) from CMS Capital, Grower Venture Capital, GF Qianhe and GF Investment. In a separate development, Alibaba-backed Amwise has secured $10 million in its Series B round led by Simcere Medical Diagnosis.
Cyagen Biosciences snags $41m in Series B round
China’s transgenic animal models provider Cyagen Biosciences has secured 285 million yuan ($41 million) in a Series B round of financing from China Merchants Securities’ investment vehicle CMS Capital, Grower Venture Capital, GF Securities’ subsidiaries GF Qianhe and GF Investment, according to a company statement.
Cyagen, a subsidiary of the custom-engineered mouse and rat models provider Cyagen US Inc., was founded in 2011 in East China’s Jiangsu province.
Its clients include life sciences research institutes, clinical research organizations, contract research organizations, pharma and biotech companies.
The proceeds will be used for business expansion, pipeline innovation and CRO platform development.
In 2016, Cyagen had closed an undisclosed Series A round from LYFE Capital, a Shanghai-based venture capital firm focused on biopharma, medical devices and diagnostics.
Alibaba-backed precision diagnostics firm Amwise raises $10m
Amwise Diagnostics Pte. Ltd., an oncology precision diagnosis firm, has secured $10 million in its Series B funding round led by China’s Jiangsu Simcere Medical Diagnosis, per a company announcement.
Amwise had completed its Series A round funding from Alibaba Entrepreneurs Fund, US cross-border venture firm WI Harper and Indonesian real estate developer Lippo Group back in 2016.
Amwise offers novel precision diagnosis solutions for cancer patients. Based on Asian genes, the company has developed a proprietary pipeline for breast cancer diagnosis.
Headquartered in Taipei, Amwise has a branch in Singapore and a subsidiary in Hangzhou.