Chinese biotech firm Genecast secures $149m in Series E round

Laboratory equipment. Photo: Pixabay

Genecast Biotechnology, a Chinese biotech firm that specialises in next-generation sequencing (NGS) technology and bioinformatics, has secured over 1 billion yuan ($149 million) in a Series E round of financing, the firm announced on Monday.

The Series E round was led by China Structural Reform Fund, which is anchored by Chinese state-owned assets operator China Chengtong. Other investors included Taikang Asset Management, which manages assets for Beijing-based insurer Taikang Life Insurance; CCB Private Equity; Hillhouse Capital’s venture capital unit GL Ventures; and Hong Kong-listed investment bank China Renaissance.

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