Vision Medicals Closed on ￥200 Million Series B Round of Financing

According to VCBeat, Vision Medicals announced that it had raised 200 million yuan in Series B round, led by CDH Investments with participation from Zhongjin Qichen. Existing investors from Series A including Volcanics Venture and CASH Capital continued to inject money in the latest round. 

Vision Medicals focuses on gene technology innovation and precision medicine of infection, with two core technology platforms of metagenomic NGS (mNGS) and rapid diagnostic tests (RDTs) based on gene editing tools (CRISPR-Cas12/13). The company has built more than 5,000 square meters of medical laboratory, research and development center, in vitro diagnostic equipment and reagent GMP production base in Beijing, Nanjing, Shanghai, Guangzhou and other places. 

During the outbreak of coVID-19, Vision Medicals has used mNGS technology and participated in the detection and genome analysis work of early clinical samples in Wuhan and Shanghai. With cooperation with the Chinese Academy of Medical Sciences, Vision Medicals shared the first piece of data of coVID-19 (as one of the earliest four coVID-19 genomes).

Dr. Xu Teng, founder and CTO of Vision Medicals, said: "Vision Medicals will continue to explore in the field of infectious medicine, use the investment to promote the development of pathogen metagenomics platforms IDseqTM and ID-CRISprTM, and at the same time improve the ability of multi-center clinical testing."

Established in 2002, CDH is one of the leading alternative investment fund managers focused on China today with over US$19 billion of assets under management, as of February 31, 2020. From its roots in private equity, CDH has expanded to become a diversified alternative asset management platform covering: Private Equity, Real Assets, Venture and Growth Capital, Mezzanine & Credit, Public Equities and Wealth Management.

CASH Capital mainly invests in emerging industries such as six major areas, including smart manufacturing, mobile Internet and services, big data and artificial intelligence, financial technology, medical services, medical devices and pharmaceuticals. The company focuses on fast-growing businesses in the start-up and growth stages.