Green Pine leads Series B for Chinese gene testing player

Founded in 2015, Guangzhou-based Amcare focuses on the diagnosis of single-gene genetic diseases in order to prevent birth defects. It claims to deliver "the last mile of the clinical application of genomic testing.” 

The company has a strategic cooperation agreement with MGI Tech, a subsidiary of BGI Group, the world’s largest genetics research center. AmCare is developing an end-to-end genetic testing system for MGI’s sequencing platform. The goal is to provide a localized automated testing solution for single-gene genetic diseases.

The World Health Organization estimates there are about 7,000 kinds of single-gene genetic diseases. In China, the birth defect rate reached 5.6% in 2012, according to the country's Ministry of Health. It believes one-quarter of these defects could be prevented if preventive action is taken early enough.

MGI Tech is a manufacturer of equipment used in gene sequencing. It raised $200 million in funding led by Goldstone Investment last May, with Green Pine also contributing capital. The private equity firm is also an investor in Gene+ Technology, a provider of gene sequencing services that was established by senior executives from BGI.

BGI is a dominant player in China for the most common genetic test, which establishes whether a fetus is afflicted with a disease. However, start-ups have emerged in the testing and sequencing space that target more specialized areas or mass-market testing for consumers. The likes of WuXi NextCode, 23Mofang, Prenetics, Annoroad, and Burning Rock have received VC funding in recent years.

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• Topics
• Greater China
• Early-stage
• Healthcare
• Technology
• China
• Green Pine Capital Partners