Chinese VCs in $11m round for US-based NuProbe

WuXi Apptec Corporate Ventures, the investment arm of pharmaceutical and medical device developer WuXi Apptec, also participated, according to a release. The company will use the new capital to grow its offices in Massachusetts and China, to accelerate its technology development, and to move forward with clinical trials and commercialization of its disease detection technology.

NuProbe's signature product is a testing formula that detects a range of disease signatures, including cancer. With a high level of sensitivity, the test can allow detection in the early stages of infection and lead to treatment decisions that may increase the survival rate of patients. Currently the product is in pre-clinical trials.

"The sensitivity and broad applicability of NuProbe's technology holds unique potential in molecular diagnostics," said Neil Shen, managing partner of Sequoia Capital China. "We are delighted to support NuProbe team's ground breaking work to realize the promise of precision medicine."

Sequoia is currently raising its fourth growth fund, which has a target of $1.8 billion, along with Sequoia China Venture Fund VII, which has a target of $550 million. The firm has also added a seed vehicle targeting $125-150 million to its line-up.

The Sequoia China franchise, which was established by Shen in 2005, has pursued venture and growth strategies, each of which now has a dedicated team, for more than a decade. The firm is an investor in 35 of the 164 unicorns identified in a Chinese government report published last month.

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• Topics
• North America
• Greater China
• Healthcare
• Early-stage
• USA
• China
• Pharmaceuticals
• Sequoia Capital