ChosenMed raises hundreds of millions of yuan in Series B round led by Sail Financial

ChosenMed recently announced that it has received hundreds of millions of yuan in its Series B financing round. This round of financing was led by Shanghai Sail Financial, Heya Huayi Investment, and the previous round of investors including Hightlight Capital, Mifang Capital, and Delta Capital. ChosenMed previously raised nearly 100 million yuan in angel round and Series A in 2018.

ChosenMed recently announced that it has received hundreds of millions of yuan in its Series B financing round. This round of financing was led by Shanghai Sail Financial, Heya Huayi Investment, and the previous round of investors including Hightlight Capital, Mifang Capital, and Delta Capital. ChosenMed previously raised nearly 100 million yuan in angel round and Series A in 2018.

The proceeds from the new funding will be mainly used for the registration of tumor multi-gene testing products and the industrialization of IVD. The company will continue to promote the intelligentization of tumor companion diagnostic testing and data analysis, and continue to create a closed-loop of precision medical treatment.

Based on bioinformatics and high-throughput sequencing technology, ChosenMed has a comprehensive layout in the field of tumor liquid biopsy. Its products cover early tumor screening, targeted drug concomitant diagnosis, immunoassay, dynamic monitoring, prognostic evaluation and tumor bioinformatics big data platform analysis and other fields. The company has reached strategic cooperation with well-known enterprises in the industry such as Illumina, Agena, Qiagen, IDT and so on.

To date, ChosenMed has independently developed more than 20 tumor detection products coveringnine systemic tumors including pan-cancer, lung cancer and others. Now it has 34 patents.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/04/23/chosenmed-raises-hundreds-of-millions-of-yuan-in-series-b-round-led-by-sail-financial/.

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