Medx Translational Medicine Snags ￥350M in Series B Round

According to VCBeat, Medx Translational Medicine Co., Ltd. ("Medx") recently announced the completion of a Series B financing worth 350 million yuan, led by existing investor Qiming Venture Partners with participation from Sinopharm Capital, Tsing Song Capital, and Broad Resources. Existing investors Quan Capital and Angel Investment also participated. CEC Capital served as the exclusive financial adviser.

The funds raised will be mainly used to develop the medical platform of translational medicine and diagnostics products, accelerate the construction of product registration and sales network, expand the overseas R&D capability and service, and improve the market promotion, so as to better support the R&D of innovative drugs for clients and cancer patients.

In 2017, Medx completed a ￥170 million Series A financing. Together with the fresh round, Medx has become the leading company in the field of precision healthcare.

Medx, formerly known as an Asia medical center of German Qiagen, has been engaged in developing integrated solutions such as clinical testing, diagnostics, and drug discovery for precision healthcare. With the industry-leading translational medicine platform combining nucleic acid, protein, pathology, and cell biology, it has stood out in the diagnostic and precision medicine industry.

So far, Medx has completed the establishment and verification of more than 200 detection methods, covering the detection of more than 100 biomarkers and targets. It provides services to more than 200 domestic and foreign clients and has established strategic cooperation with more than 10 innovative drug leaders and biotechnology companies, providing overall translational medical solutions for drug R&D.

Besides, Medx has launched many diagnostic products, while others are in clinical trials or have finished the submission for approval, and more than a dozen products of nucleic acid and protein are in the pipeline, covering targeted therapy, immunotherapy, and cell therapy.

Founded in 2006, Qiming Venture Partners is a leading China venture capital firm with offices in Shanghai, Beijing, Suzhou, Shenzhen, Hong Kong, Seattle, Boston, and San Francisco Bay Area. Currently, Qiming Venture Partners manages seven US Dollar funds and five RMB funds with over US$4 billion assets under management. Qiming Venture Partners invests in information technology, new consumer business patterns, and the healthcare sector.

Founded in 2012, Sinopharm Capital is a private equity arm of China National Pharmaceutical Group Corporation that specializes in medical and healthcare, pharmaceuticals, biotechnology, medical devices, healthcare and medical supply, and services for the elderly and persons with disability.