China-based cancer screening technology developer New Horizon Health has raised $20m in financing from investors including telecommunications firm SoftBank, China Money Network reported today.
SoftBank, which invested through its SoftBank China subsidiary, was joined by venture capital firm Qiming Venture Partners, which led the round, and Legend Capital, the investment firm sponsored by conglomerate Legend Holdings.
New Horizon is working on systems that will be able to screen for cancer at an early stage, and is particularly focusing on gastrointestinal cancer, for which it utilises faecal gene analysis.
The technology enables users to detect precancerous lesions at home, years before they would be picked up by blood tests.
The funding will support research and development activities, as New Horizon seeks to develop big data and artificial intelligence technology that will help its work.
Legend Capital and SoftBank China previously participated in a 2016 series A round of undisclosed size for New Horizon, according to China Money Network.