China-based healthcare analytics provider iCarbonX is looking at securing RMB700m ($106m) in series A capital from investors including biotechnology company Vcanbio Cell and Gene Engineering, China Money Network reported yesterday.
Vcanbio is providing RMB100m for the round that values iCarbonX at RMB5bn. Remaining backers have not been named.
Launched in October 2015, iCarbonX is developing a big data analytics platform that combines healthcare data with other information such as social and environmental data to gain a better insight into a user’s health. Users can consent to make the data accessible to third parties including hospitals, research institutes and pharmaceutical firms.
Vcanbio will cooperate with iCarbonX on genome sequencing and storage resources, and will assist with the development of additional products.
The company had total assets of RMB10m as of last month, according to a regulatory filing. It was co-founded by Wang Jun, the former chief executive of genome sequencing company Beijing Genomics Institute.
Jun said at the company launch last year: “We want to establish a health-related big data platform, to develop artificial intelligence to interpret and mine the data as well as to enable every individual to better manage their health and defeat diseases.”