Burning Rock, an Asian tumor precision medicine company, closed an RMB 850m Series C financing round.
The round was led by GIC, followed by LYFE Capital, CMB International Capital, Lilly Asia Ventures (LAV), Sequoia Capital China and T&Brothers Capital.
The company intends to use the funds for early cancer detection product development and sales and marketing force expansion for the companion diagnostics business.
Founded in 2014 by CEO Mr. Han Yusheng, Burning Rock focuses on NGS (Next-Generation Sequencing) diagnostics solutions for precision medicine in oncology. Currently, it has three core businesses:
– cancer patient companion diagnostics,
– early cancer detection, and
– cancer genome big data ecosystem.
Thus far, the company has developed 32 products for different cancer types and clinical applications. Besides providing NGS test services in an LDT model, Burning Rock also provides one-stop NGS platform solutions and enables high-quality NGS tests at hospitals’ pathology labs. The company offers a National Medical Products Administration)-approved NGS kit in China, and collaborates with Agilent, PerkinElmer, Illumina, Qiagen, and numerous pharmaceutical companies.