3DMed Closes on a $40M New Round of Financing After its Spin-off

According to seqchina.cn, 3D Medicines ("3DMed"), one of the leading precision medicine companies in China, has completed ￥280 million (US$40 million) financing of its spin-off diagnosis business, led by the industry investment fund of CR Pharma, co-led by Lucion and Shandong Traffic Industry Development Fund, with participation from Shanghai Zhangjiang Technology Venture Capital, ChinaEquity Group (CEG), Funway Capital, Guangzhou China Venture Investment and others. This is also the first round of independent financing after the first spin-off of 3DMed’s diagnosis business. CEC Capital continues to serve as the exclusive financial advisor for this financing after the spin-off.

Proceeds of this funding will be mainly used for product research and development, including the follow-up research and development of its ANDiS NGS automation platform, early diagnosis products based on its exosome platform, and products of third-party detection.

Founded in December 2010 and headquartered in Shanghai, 3DMed is focused on cancer precision medical treatment to save patients' lives. Adhering to the concept of "science changes the world", 3DMed is becoming an integrated Chinese practitioner of the combination of cancer diagnosis and treatment through the integration of biological characteristics, clinical diagnosis & treatment, and drug R&D data mining application. Nowadays, 3DMed has more than 450 employees in China and the US.

In 2018, due to the rapid development of the company's business and the need to focus on different markets, 3DMed's diagnosis business and its drug R&D business were spun off. It plans to be listed in different capital markets in the future.

CR Pharma is a subsidiary of China Resources Group that engages in the research and development, manufacturing, distribution, and retail of a broad range of therapeutic areas such as Chinese medicines, pharmaceutical drugs, and healthcare products. 

Lucion is an influential professional venture capital institute and the first listed venture capital company in China. The company mainly invests in advanced manufacturing, modern agriculture, marine economy and other advantageous fields in Shandong, China, and other emerging industries including information technology, energy conservation & environmental protection, new energy, new materials, biotechnology and high-end equipment manufacturing.