China-based genome sequencing technology developer Yikon Genomics has received RMB250m ($38.7m) of series D funding from investors including pharmaceutical firm Sinopharm and Chinese state-owned conglomerate China General Technology Group, DealStreetAsia has reported.
The round also featured private equity firm Yunfeng Capital, investment firm Oriza Holdings and investment bank China International Capital Corporation’s CICC Capital subsidiary, which invested through CICC Qide Innovation Biopharmaceutical Equity Investment Fund.
Sinopharm participated in the round through its corporate venturing unit, Sinopharm Capital, while China General Technology Group took part via asset management subsidiary General Technology Venture Capital.
Founded in 2012, Yikon uses single-cell, whole-genome sequencing technology to provide a range of genetic testing services specialised in cancer and reproductive health. It has now raised approximately $124m altogether, according to co-founder and CEO Lu Sijia.
Clinical laboratory services provider Guangzhou Kingmed led a $31m series C round for the company in November 2019 that was backed by conglomerate Yuexiu’s Industrial Fund and financial services firm Bank of Communications’ Bocom International subsidiary.
The round was filled out by an unspecified investment fund jointly established by conglomerate Wuhan Zhongyuan Huadian Science & Technology and an unnamed investment firm.
Yikon had already collected $21m in series B funding from Yuexiu Industrial Fund, Shenzhen New Industry Venture Capital and Frontline Bioventures in 2016.