Fengshi leads $45m Series D for China cancer diagnosis player
Singlera Genomics, a Shanghai-based cancer diagnostics specialist, has raised an extended Series B round of CNY 300m (USD 45m) led by Fengshi Investment Management.
Other investors include Galaxy Huiyuan Investment, Huachen Meijing Equity Investment, Wuxi Guojing Investment Management, Unifortune Investment, Hubei Baiside Private Fund Management, and Shanghai Junci Investment Management. Shanghai-listed gene diagnosis player Sansure Biotech came in as a strategic investor.
Singlera raised a CNY120m Series A in 2016 led by Lilly Asia Ventures (LAV) and then a USD 60m extension featuring Green Pine Capital Partners and Prosperico Ventures in 2018. This was followed by a CNY 1bn Series B led by China Capital Investment Group.
The new capital will go towards rolling out more genetic tests for early-stage cancer diagnosis as well as drug production and commercialization. It will also fund the global expansion.
Founded in 2014, Singlera focuses on non-invasive early-cancer diagnosis. It offers a one-stop, full-cycle service from cancer risk assessment and early diagnosis to medication guidance and recurrence monitoring. It covers high-incidence cancers, including those targeting the lungs, colon, stomach, and liver.
Recently, the company has pushed into pan-cancer diagnosis technology. It launched a study last year with Shanghai's Fudan University and 11 top-tier hospitals, which is expected to result in more than 60,000 people participating in a screening exercise, the largest of its kind globally.
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