HaploX, a China-based genetic sequencing technology provider backed by telecoms group SoftBank, has raised a nine-figure renminbi sum (RMB100m = $15m) in a series B round featuring, China Money Network reported this week.
The round was led by Shenzhen Capital Group, the venture capital firm founded by the city of Shenzhen’s municipal government.
Founded in 2014, HaploX is developing liquid biopsy technology that will make use of genetic sequencing, artificial intelligence and big data to help treat cancer patients by assessing the state of the disease.
The company is pursuing two large-scale sequencing projects in 2018: one that will sequence 100,000 sufferers of early and late-stage lung cancer, and one where 100,000 people with a high genetic risk of colorectal cancer will be sequenced, it said in January.
SoftBank’s Chinese investment arm, SBCVC, led HaploX’s series A round, which was sized at about $10m, in 2016. It returned for a $32m series A+ round in January 2018 that included Kexin Capital.