China-based medical diagnostics equipment developer Shandong Yingsheng Biological Technology has reeled in approximately RMB100m ($14.5m) in a series C round that featured supply chain services provider Xiamen C&D, PEdaily.cn has reported.
Life science-focused venture capital firm BioVenture also took part in the round, which came after two rounds of undisclosed size that included Source Capital and SunzFund, according to China Money Network.
Founded in 2009, Yingsheng Biology develops and sells vitro diagnostic reagents and medical kits that are used to diagnose diseases and other health conditions. The company has developed kits to test for minerals, vitamin deficiencies, metabolic diseases and a deafness gene.
The funding came as Yingsheng formed a strategic partnership with chemical separatio technology provider Biotage that will involve them working together to jointly develop clinical mass spectrometry products in Yingsheng’s home country.