China-based cancer diagnostics company Burning Rock Biotech has closed a RMB 150m ($23m) series A extension featuring Legend Star, an early-stage investment subsidiary of conglomerate Legend Holdings, China Money Network reported today.
The round also included Jifeng Capital and US-based venture capital firm Sequoia Capital.
Founded in March 2014, Burning Rock uses DNA sequencing, genetic testing and research services to identify the most promising cancer treatment for a specific patient.
The company secured $9.7m in the first tranche of its series A round, backed by Legend Star and Northern Light Venture Capital, in August 2014. The fresh funding will support research and development efforts and the creation of a range of new products.