Ammunition Raises ￥100M in Series B Funding Round Led by Jinhe Capital

(VCBeat) Feb. 2, 2021 -- Recently, Wuhan Ammunition Life Technology Co., Ltd. （"Ammunition"）announced the closing of a Series B funding round of nearly 100 million RMB, led by Jinhe Capital, an investment firm in the field of medical and healthcare, with participation from Changjiang Securities Innovation Investment, and the existing investor Hybribio. 

Previously, Ammunition also raised the Series Pre-A and A financing from Jianyin Medical Growth Fund and Hybribio. Proceeds from the latest round will enable Ammunition to accelerate the registration and approval of its early screening products, develop the R&D pipeline, and particularly promote the marketing and commercialization of early cancer detection products.

Based on the early screening technology platform of cancers, Ammunition has a comprehensive pipeline covering the detection of gastrointestinal cancers, gynecological cancers and the pan-cancer field. The company has completed the development and commercialization of a number of products.

Ammulifetech's flagship product IColocomf^® is a colorectal cancer screening product based on fecal DNA. It was developed according to the intestinal characteristics of Chinese, which has good complementarity of double targets detection, combining the sensitivity of left colorectal cancer detection with the right, thus greatly improving the accuracy of the result.

The detection sensitivity of IColocomf^® for colorectal cancer and adenoma (pre-cancerous lesions) is better than that of similar products in the market. This product can be compared with Cologuard, the product of the American company, Exact Sciences, which has an efficacy ratio 10 times more than that of Cologuard.

Headquartered in Guangzhou, Jinhe Capital is an investment company focusing on the healthcare industry. The core team has more than 25 years of experience in the medical industry and has successfully built KingMed Diagnostics, the largest third-party medical laboratory in China. At present, Jinhe Capital manages two medical-industrial funds of nearly 2 billion yuan. Jinhe Capital continues to invest in the field of in-vitro diagnostics and others.

Hybribio is the leading supplier of nucleic acid molecular diagnostic products in China, with a complete operation chain, from research and development, production, to sales. In 2017, the company was listed in GEM of Shenzhen Stock Exchange. Hybribio developed its IVD platform based on the patented technology -- "Flow-through Hybridization", which has been licensed by The University of Hong Kong，and established two major R&D lines -- infectious pathogen detection and genetic disease detection.