MEDx Translational Medicine (Suzhou) Co., Ltd. (hereinafter referred to as “MEDx Translational Medicine” or the “Company”) recently announced the completion of RMB 350 million in Series B financing. This round of financing was led by existing shareholder Qiming Venture Partners. Followers of the round included Sinopharm Capital, Tsing Song Capital and Broad Resources. Existing investors Quan Capital and Anjie Investment also expanded their holdings within the Company.
This round of financing will primarily be used to expand the Company’s translation medicine platform, increase the R&D of diagnostic products, accelerate product registration and sales networks, expand overseas R&D and service capabilities, and expand commercial marketing efforts. The Company is aiming to better support domestic and international pharmaceutical companies in developing innovative drugs and precision medication for cancer patients.
MEDx Translational Medicine previously completed RMB 170 million in Series A financing in 2017. With the completion of its Series B financing, investors have once again reaffirmed the Company’s view that precision diagnostics will inevitably be the trend of the future.
As a pioneer, innovator, and leader in the precision diagnostics industry with 7 years of history in the market (its predecessor was the Asia-Pacific Translational Medicine Center of the German QIAGEN joint venture), MEDx Translational Medicine has created a comprehensive technology platform, team, and product platform. With an industry-leading comprehensive multi-omics translational medicine platform leveraging nucleic acid, protein, pathology, and cell biology, it has developed significant technological advantages and a market-leading position within the diagnostics and precision medicine industries.
The Company has completed the establishment and verification of more than 200 detection methodologies, and its detection platform covers more than 100+ biomarkers and targets. The Company provides precision medical services to more than 200 domestic and foreign customers, and has established strategic partnerships with more than a dozen innovative drug developers and biotechnology companies to provide a full range of translational medicine solutions for innovative drug research and development.
The Company has more than a dozen nucleic acid and protein products within its R&D pipeline, covering targeted therapy, immunotherapy, and cell therapy. Many of its diagnostics products are already on the market, and several more have entered or have obtained approval for clinical trials.
About MEDx Translational Medicine (Suzhou) Co., Ltd.
MEDx Translational Medicine (Suzhou) Co., Ltd. was established in 2013. As a pioneer, innovator, and leader in the precision diagnostics industry, MEDx Translational Medicine relies on industry-leading translational medicine platforms (including nucleic acid, protein, pathology, and cell biology) and an experienced professional technical team to develop and provide precision medicines. MEDx Translational Medicine provides integrated solutions for the discovery and verification of biomarkers; molecular detection; screening of patients in clinical trials of new drugs; development of detection methods; and commercialization of diagnostic kits.
About CEC Capital Group
Founded in 2000, CEC Capital Group is one of China’s leading investment banks focusing on the three major industries of healthcare, consumer, and TMT. The company is headquartered in Beijing, with offices in Shanghai. Its US affiliate, China eCapital Partners, LLC, has offices in Los Angeles and San Francisco.
In the three years from 2017 to 2019, CEC Capital Group has participated in financing and M&A transactions valued at a total of more than RMB 100 billion. In addition to its investment banking business, CEC Capital Group has been managing an RMB fund and a USD fund since 2014.
CEC Capital Group has the healthcare industry’s largest dedicated investment banking coverage team in China, with comprehensive coverage of the entire ecosystem and a market-leading position in the industry. The firm has advised on the largest number of healthcare-related private capital financing transactions over the past three years among China-based investment banks.
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