GensKey, A New Star In the Field of Gene Testing and Medical Diagnosis Services, Launches with Tens of Millions yuan in Series A Funding

On April 1, 2019, Pathogen diagnosis company GensKey today has announced the completion of tens of millions of RMB in Series A financing round led by Legend Capital. The fund raised will be used for the promotion of GENSEQTM, a pathogenic microorganism detection product.

Gene testing industry is a hot industry of venture capital in recent years, with a large amount of capital firm involved in major subsectors, such as scientific research services, cancer, reproduction, genetic health and more. Many star enterprises were established. By contrast, the diagnosis of severe infections, combined with genetic testing, remains an empty market.

According to The World Health Organization, infection-related diseases are the third deadliest diseases among the world's top 10 leading causes of death. More than 10 million people suffer infectious diseases in China each year, and more than a million die, in the end, most of these cases were undiagnosed. At present, traditional diagnostic methods include microbial culture, PCR, mass spectrum analysis and more. But these technologies either have too low detection rate or too low flux to complete the medical diagnosis.

Due to the existing technology and treatment habits, the infection Detection market in China is still underdeveloped with countless unmet needs. This is why there will be opportunities for gene detection companies.

GensKey, headed by Dr. Jiang Zhi, is a genetic testing and medical diagnostic service provider that applies high-throughput sequencing technology to pathogen diagnosis to solve the series of difficulties in the detection rate, timeliness, and accuracy of pathogenic diagnosis. So many patients with severe infections can get a timely and accurate diagnosis.

Recently, GensKey has cooperated with many clinical experts in the infections, respiratory, nervous and intensive care field. The company hopes to promote GENSEQTM from auxiliary to a first-line diagnosis product, which can make sure patients get diagnosed in the first time. It will also solve the problem of antibiotic abuse from the source.

In 2019, Dr. Jiang Zhi revealed that GensKey will also have new diagnostic products and innovative technologies to be released, which will improve clinical diagnosis and further consolidate the leading position of the enterprise in the field of pathogen diagnosis.

Since the launch of the funding, GensKey has attracted many investment institutions in the field of gene sequencing and medical diagnosis. Talking about why Legend Capital was chosen, Dr. Jiang said: " Legend Capital has a systematic layout in the medical industry. After meeting with their team, I realized that they have unique insights into diagnostic reagents and genetic testing, and they are eager to invest more in this field.

Legend Capital is a subsidiary of Legend Holdings Ltd They started back in April 2001 with a mission to become the top-notch and the most respected venture capital investment manager in China.

Managing up to $700 million across four funds, Legend Capital mainly invests in early-stage IT companies, specifically in the sectors of network applications and services, outsourcing and professional services, Infrastructure (IC design/key components) and mid-market growth stage companies in the fields of consumer goods, clean technology, health care, equipment manufacturing and modern services.

As an active investor, Legend Capital provides its portfolio companies with extensive business resources and tailored services to assist their business development, company image building, and other critical company building activities in the Chinese market to maximize the returns. Legend Capital is proud and thankful that it has the opportunity to blaze a trail with its innovative practice for China's venture capital industry.