A Chinese company that also has operations in California is hoping to expand its genomic services to more Chinese consumers via a new cash infusion.
Lilly Asia Ventures has led a US$20 million series A financing round in Singlera Genomics, a non-invasive genetic testing company based in La Jolla and Shanghai, according to an announcement.
Green Pine Capital Partners, CDBI Partners and other investors also participated in the round, which will be used to help Singlera expand the commercialization of its personalized genomic sequencing tests for cancer and other genetic diseases.
Singlera claims to have proprietary technologies in single cell sequencing, DNA methylation and bioinformatics. Singlera's main products and services include tumor diagnosis and personalized treatment and non-invasive prenatal diagnosis.
Singlera was founded in 2014 by Professor Yuan Gao from Johns Hopkins University, Professor Kun Zhang from University of California at San Diego, and a few other Chinese entrepreneurs.
Lilly Asia Ventures, founded in 2008 and headquartered in Shanghai, is venture capital firm focused on life sciences and healthcare.