Tongshu Gene Completes ￥100M Series B Funding Round

According to VCBeat, on September 22, 2020, Changzhou Tongshu Biotechnology Co., Ltd. ("Tongshu Gene") announced the completion of a Series B financing worth hundreds of millions of yuan. The fresh financing was led by YuanBio Venture Capital, with additional support from Everest Venture Capital, Xiran Capital, and Jiangsu Tuobang Investment. The funds raised will be used to accelerate the clinical development and product pipeline of the In-vitro diagnosis (IVD) technology.

Founded in November 2016, Tongshu Gene is a high-tech enterprise focusing on the R&D, production, and sales of gene testing products for cancer diagnosis, with multiple platforms and innovative technologies. 

Tongshu Gene has established a systematic compliance operating system with high-throughput sequencing as the core. The NGS genetic testing services of the company have obtained three certificates of reagent, instrument and bioinformatics software from NMPA. Based on the two-wheel-drive compliance testing and LDT services outside the hospital, Tongshu Gene has won its reputation from customers in the fierce market competition. Its products have been used in dozens of hospitals.

Tongshu Gene's micro database construction technology based on NGS has won the first place in the national competition twice, and its high-sensitivity MSI testing and MASS-PCR technology have entered the stage of registration and application.

Founded in September 2013, YuanBio Venture Capital manages the new bio-industry funds of 540 million yuan. The company invests in life sciences companies such as biotechnology, drug discovery, medical devices and healthcare services companies in the early stages. It provides capital, management, operation, and other post-investment support and services.

Everest Venture Capital has always been committed to its vision of investing in 100 world-class high-tech firms. Founded in September 2007, the company has over RMB 7 billion in AUM. So far, Everest Venture Capital has invested in over 150 companies, with a focus on high-tech fields such as high-end equipment, new materials, bio-pharmaceuticals and the new generation of information technology.