3D Medicines' new financing round reaches 1.5b yuan

3D Medicines, a leader in precision medicine in China, announced on Monday a new round of financing that reached 1.5 billion yuan ($223.94 million).

Led by investment company CPE, the investors include Jiangxi Jemincare Group and Tsing Song Capital. CEC Capital acted as the exclusive financial advisor.

3D Medicines utilizes automated molecular diagnostics and artificial intelligence to help physicians leverage genetic information to tailor treatment to individual patients. It has a diverse product and services portfolio in sectors that include clinical laboratory science and in vitro diagnostic medical devices and reagents, including an AI-based cancer genome data interpretation system and a fully closed, automated next-generation sequencing library-prep system.

Xiong Lei, chairman and CEO of 3D Medicines, said the company will use the investments for further product research and development, building a commercialization team and expansion of overseas business.

Li Gang, a partner of CEC Capital, said the investment from A-list funds demonstrated their confidence in 3D Medicines's development, and his company is glad to have been in collaboration with 3D Medicines for years.

His company is looking forward to 3D Medicines's new round of breakthroughs and milestone-marking progress so that more Chinese and even global patients will benefit from precision medicine.