China's BVCF provides $8m round for US biotech firm

Set up in 2007, DiaCarta is headquartered in California, and has additional bases in Zhengzhou in China, and Singapore. The company produces non-invasive, precision molecular test kits for detecting cervical and head and neck cancers.

This injection of capital will be used to expand DiaCarta's portfolio and support the global commercialization of its products. The company will also look to obtain regulatory approvals for it products in the EU, China and eventually the US. BVCF's Weixin Xu will join DiaCarta's board of directors.

"We look forward to supporting the parallel development of precision molecular diagnostic tests in the US and China," said Zhi Yang, general partner at BVCF, said in a statement. "These novel technologies offer an attractive option to address the growing needs of personalized medicine and companion diagnostics."

BVCF was founded in 2005 and it is headquartered in Shanghai. Its team includes partners with an academic background and extensive operational experience.

It primarily focuses on growth-stage companies with enterpise values of $50-100 million in the fields of biotechnology, pharmaceuticals, traditional chinese medicine, medical devices, healthcare services, industrial and environmental biotechnology. In April last year it reached a $200 million final close on its third fund.

 

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Save this article  
• Send to  

• Topics
• Healthcare
• Greater China
• Expansion
• Pharmaceuticals
• healthcare
• Growth capital
• BVCF