Heavy equipment manufacturer Heda Group has led a RMB115m ($16.2m) series B round for China-based diagnostics technology developer Lc-Bio through an undisclosed healthcare investment vehicle, DealStreetAsia reported yesterday.
Junchuan Capital, Taimeng Investment, Sinowisdom, Zheshang Venture Capital and CrestValue Capital also participated in the round.
Lc-Bio provides diagnostic testing kits utilising genomic sequencing technology for conditions such as cancer, focusing on gene and protein analysis. The series B funds will go to the ongoing commercialisation of its DNA synthesis technology.
Zheshang Venture Capital had supplied an undisclosed amount of angel funding for the company before joining Sinowisdom and CrestValue in a $9m series A round in 2017, according to DealStreetAsia.
