ChosenMed Snares ￥100M in Series B Financing, Focusing on Precision Medicine in Cancer

According to VCBeat, ChosenMed Technology ("ChosenMed") recently announced a Series B financing of hundreds of millions yuan, led by Shanghai Lianhe Investment, with participation from Heya Huayi Investment and the existing investors in the last round, including Highlight Capital, Med-Fine Capital, and Delta Capital. 

Proceeds from the latest round will be used for the registration of multi-gene detection products for cancers and the industrialization of in vitro diagnostic devices (IVD), to further promote the intellectualization of cancer detection and diagnosis, and data analysis, and create a closed-loop of precision medicine services in cancer.

ChosenMed completed its angel round of nearly 100 million yuan and Series A round of financing in 2018.

ChosenMed is dedicated to becoming the world-leading oncology precision medical products and service provider for the whole industrial chain. Products include early screening, prevention and diagnosis of tumors, dynamic monitoring, medication guidance, prognosis evaluation and bioinformatics data analysis.

Headquartered in Jinghai Industrial Park, Beijing, ChosenMed has preliminarily realized the layout of the whole industrial chain, which covers the production of instruments and reagents from upstream, the third-party oncology medical detection laboratory chains from midstream, the genetic data analysis and the services for transformation of medical science and technology from downstream.

Established in 1994, Shanghai Lianhe Investment is a wholly state-owned company approved by the Shanghai Municipal People's Government. With equity investment as the core business, the company focuses on information technology, life and health, energy and intelligent manufacturing, modern service industry and other fields, with investment over 10 billion yuan.

Founded in 2014 at China's financial hub-Shanghai, Med-Fine Capital is an investment fund. Currently, it manages11 investment funds, of which the amount value has reached to nearly 800 million yuan.

Med-Fine Capital mainly invests in the healthcare and bioscience industry. The financial services include equity investments (VC/PE), PIPE, FOF (Fund of Funds), securities investing, M&A and etc.