Singapore-based precision medicine developer MEDx Translational Medicine has closed a RMB350m ($51.4m) series B round involving Sinopharm Capital, a subsidiary of pharmaceutical firm Sinopharm.
The round was led by Qiming Venture Partners and was rounded off by Tsing Song Capital, Broad Resources, Quan Capital and Angel Investment.
Founded in 2013, MEDx is a precision healthcare company focused on delivering medicine and diagnostic tests driven by biomarkers identified from its genetics-based discovery system.
The series B capital will go to its research platform and pipeline while also strengthening its sales and management capacity. Genomic medicine firm Lucence is among MEDx’s strategic partners.
The company had already raised $25.7m of series A cash in 2017 from Qiming Venture Partners, New Horizon, Quan Capital and undisclosed additional investors.