Cygnus Bio nets hundreds of millions of yuan in Series C round

Cygnus Bio, a company specializing in the development of gene sequencers, announced that it has completed hundreds of millions of yuan in its Series C round of financing, led by GET Tech and Jinhe Capital.

Cygnus Bio, a company specializing in the development of gene sequencers, announced that it has completed hundreds of millions of yuan in its Series C round of financing, led by GET Tech and Jinhe Capital.

In the meantime, the company announced that it has reached a cooperation with Guangzhou Development District, and its genetic sequencing technology achievements will be settled in Guangzhou High-tech Industrial Development Zone.

Wu Lei, co-founder and CEO of Cygnus Bio, said that after completing this round of financing, the company will build an industrialization base, R&D center and sales headquarters in the Guangzhou Development Zone.

Cygnus Bio was established in 2015 and is committed to developing a new gene sequencer based on Fluorogenic Sequencing (Fluorogenic) and Error Correcting Coding (ECC) technology to upgrade NGS sequencing technology with lower cost and higher accuracy. The core team is composed of scientist Xie Xiaoliang, entrepreneur Dr. Wu Lei.

At present, the gene sequencer independently developed by Cygnus Bio has passed the laboratory prototype test. Wu Lei revealed that the product will enter the external testing (clinical trial) stage in 2021 and will start registration and market launch.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/06/14/cygnus-bio-nets-hundreds-of-millions-of-yuan-in-series-c-round/.

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