Changzhou Tongshu Biotechnology Co., Ltd. ("Tongshu Gene") announced the completion of a Series C financing worth five hundreds of millions of yuan. This round was led by GL Capital Group, Broad Vision Funds and Oceanpine Capital, with old shareholders support from Everest Venture Capital and Jiangsu Tuobang Investment. The funds raised will be used to subsequent clinical development of a number of blockbusters In-vitro diagnosis (IVD) new products such as ctDNA and early tumor screening, and to open up direct sales channels for more than 500 tertiary hospitals.
Founded in November 2016, Tongshu Gene is a high-tech enterprise focusing on the R&D, production, and sales of gene testing products for cancer diagnosis, with multiple platforms and innovative technologies.
Tongshu Gene has established a systematic compliance operating system with high-throughput sequencing as the core. The NGS genetic testing services of the company have obtained three certificates of reagent, instrument and bioinformatics software from NMPA. Based on the two-wheel-drive compliance testing and LDT services outside the hospital, Tongshu Gene has won its reputation from customers in the fierce market competition. Its products have been used in dozens of hospitals.
Tongshu Gene's micro database construction technology based on NGS has won the first place in the national competition twice, and its high-sensitivity MSI testing and MASS-PCR technology have entered the stage of registration and application.
Source：Oceanpine Capital
