China-based precision medicine researcher AnchorDX has secured in a $28m series B round backed by medical testing firm KingMed Diagnostics and pharmaceutical company WuXi AppTec, China Money Network reported yesterday.
Sijia Jianxin Fund co-led the round with 6 Dimensions Capital, a strategic investment vehicle formed by WuXi AppTec and venture capital firm Frontline BioVentures, while VC firm Arch Venture Partners and VC fund Marathon Venture Partners also took part.
Founded in 2015, AnchorDx is developing improved DNA and RNA sequencing processes that are quicker and cheaper than previous methods. It is particularly focused on diagnosing early stage cancer through the sequencing of methylated circulating tumour DNA (ctDNA).
The company had previously raised an undisclosed amount of funding from Marathon Venture Partners and Northern Light Venture Capital.
Chen Lianyong, managing partner of 6 Dimensions, told China Money Network: “Epigenetics biomarkers combined with liquid biopsy is expected to diagnose cancer at an early stage.
“AnchorDX’s methylated ctDNA sequencing technology is in the leading position and we are looking forward to further cooperating with AnchorDX.”