VCs invest $32m in China's HaploX Biotechnology

It follows a RMB50 million ($7.7 million) Series A round in 2016 led by SBCVC. Previous investors also include the Shenzhen Science Technology & Innovation Commission and Beijing Grains Valley Venture Capital.

The new capital will support clinical research projects for lung cancer and colorectal cancer treatment that will involve a combined 200,000 patients. According to HaploX CEO Mingyan Xu, the company aims to eventually raise some $200 million in order to budget $1,000 per patient as the studies progress.

Founded in 2014, HaploX specializes in a discipline known as bioinformatics, which integrates biological research with computer sciences including artificial intelligence (AI) and big data processing. The company claims to have developed 10 products to date with a focus on gene sequencing technology. Targeted application areas include early cancer screening, individualized drug guidance, prognosis monitoring and drug resistance assessment. 

SBCVC has been active in the Chinese bioinformatics space. Last month, the firm led a RMB200 million Series B round for 12 Sigma, a biotechnology company that applies AI to medical image diagnoses. This followed closely on participation in a RMB700 million Series C for Beijing-based genomics services provider Annoroad.

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• Topics
• Greater China
• Healthcare
• Technology
• Early-stage
• China
• Softbank China Venture Capital
• Venture