Yikon Genomics, a China-based single-cell sequencing spinout of Harvard University, attracted $31m in a series C round on Monday led by medical laboratory company Guangzhou Kingmed, according to DealStreetAsia.
Yuexiu Industrial Fund, an investment subsidiary of conglomerate Yuexiu, also backed the round, as did an unnamed fund co-founded by conglomerate Wuhan Zhongyuan Huadian Science & Technology and Bocom International, a subsidiary of financial services firm Bank of Communications.
Founded in 2012, Yikon Genomics provides single-cell sequencing technology aimed at applications in reproductive health and cancer diagnostics.
The technology can, for example, be used by fertility clinics to select the most suitable embryos or by oncologists to conduct liquid tumour biopsies.
Yikon advances research by Sunney Xie, professor of chemistry and chemical biology at Harvard University, and his former graduate student Sijia Lu.
The series C funding will allow Yikon Genomics to more efficiently market its products and services.
The spinout previously obtained $21m in a series B round backed by Yuexiu’s Industrial Fund, Shenzhen New Industry Venture Capital and Frontline Bioventures in September 2016. Details about Yikon’s series A round could not be ascertained.
