China-based cancer immunotherapy technology provider YuceBio has received almost RMB300m ($43.5m) in a series C round led by medical equipment manufacturer Yuanzhi Technology Group, DealStreetAsia reported yesterday.
Venture capital firm Puhua Capital also participated in the round, according to a WeChat post by YuceBio that was cited by DealStreetAsia.
YuceBio has created an immunology technology platform that detects gene mutations and tumour neoantigens which can inform medical treatments for cancer. The funding will support further development of its tumour mutational burden (TMB) biomarker.
VC group IDG Capital led a nine-figure renminbi round for the company in December 2018 according to DealStreetAsia, which identified genome sequencing service provider BGI Group and health innovation and entrepreneurship platform BioClub as earlier investors.