Genemind Biotech closed the Series B fundraising of CNY 140 million from Sincere Capital and Liaoyuan Capital. The bankroll will further expand the market and application for domestic genetic sequencing platform of domestic brands. On the other hand, they will escalate the research and development platform.
The company first launched the prototype equipment POC (proof-of-concept) in its GenoCare product series in 2015, followed by the Alpha machine prototype, Beta machine and sample machine. In 2019, its GeneCare products were approved of the medical device registration and multi-place clinical trials in 2020. Its GeneCare series is expected to become the first single-molecule sequencing system with registration approval.