The Beijing-based genomic solution provider Genowis (志诺维思) has completed a Series B funding worth CNY 60 billion (USD 8.5 million), led by Beijing-based PE investment firm HG Capital (the leader investor), Phoenix Tree Capital partners (梧桐树资本), and Legend Capital (君联资本).
Founded in 2015 by CEO Li Shaoping (凌少平), Genowis provides precision medical technology services, including high-precision genomic data solutions for clinical analysis as well as design, implementation and industrial incubation of scientific research projects like tumor treatment and molecular pathological analysis of tumors.
After the fundraising, Dr. Li Shaoping said that the company is committed to promoting the next generation of NGPD (Next-Gen Pathological Diagnosis) by creating more sophisticated intelligent precision tumor diagnosis platforms (IPCD) for medical institutions.
This round of financing will enable Genowis to expand the bounds of the clinical application of the IPCD platform”, said Dr. Li.
According to Li, the company’s strength relies on four factors: 'focus, team, technique, and platform.' These factors permit the firm to lead the healthcare database platform and enhance its competitiveness.
Recently, healthcare firms focused on genomic diagnostics have received a significant amount of money in their fundraising rounds. In early November, American counterpart Human Longevity carried out a Series C funding worth USD 30 million, led by Emerging Technology Partners. The healthcare company is creating a comprehensive database of the whole human genome, based on phenotype and clinical data.
Note that the global genomics market is expected to reach USD 35.7 billion by 2024 – from USD 18.9 billion in 2019 – at a CAGR of 13.5% during the forecast period, according to data provided by market observers.