Internet group Tencent has led a RMB200m ($30.9m) series C round for China-based gene-sequencing technology developer Vision Medicals, 36Kr reported yesterday.
Investment banking group China International Capital Corporation’s CICC Capital unit also participated in the round, as did CDH Investments, Volcanics Venture, and Cash Capital, an investment vehicle for Chinese Academy of Sciences Holdings.
Founded in 2018, Vision is developing gene sequencing and gene-editing technology as well as precision medicine used to diagnose and treat infectious diseases, utilising technologies such as gene editing tools CRISPR-Cas12 and Cas13.
The company has served more than 800 hospitals including the Chinese Academy of Medical Sciences and Peking Union Medical College. It recently studied the coronavirus that causes Covid-19 and developed a sequencing test for the disease which has been approved for use in the European Union.
Vision raised $14m in a series A round co-led by Cash Capital and Volcanics Venture in September 2019 before closing a $28.8m series B round in August 2020 that was led by CDH Investments and which featured Cash Capital, Volcanics Venture and CICC subsidiary CICC Qichen.