WuXi Diagnostic Investment (Cayman) Limited, a Shangai, China-based diagnostics company, completed US$150m in series B funding.
Backers included new investors Thermo Fisher Scientific Inc., Shiyu Capital, ABC International Holdings Limited, Sunland Capital and CCBI Tech Venture, and existing shareholder YF Capital.
The company intends to use the funds to strengthen its open-access innovation enabling platform, advance its integrated diagnostics R&D pipeline, and accelerate market penetration in the global diagnostics sector.
Established in 2018 and led by Dr. Jason Liu, Chief Executive Officer, WuXi Diagnostics focuses on integrated diagnostics via an open-access innovation enabling platform, centered on multi-omics clinical data from multidisciplinary technologies.
Leveraging Mayo Clinic’s knowledge and expertise in integrated medicine, WXDX is establishing an open-access enabling platform, with multidisciplinary technologies, clinical big data and algorithms to continuously launch innovative diagnostic services and products, and empower healthcare innovators to accelerate technology transformation from R&D to application, building a new ecosystem for next generation diagnostics.
The company has its headquarters and a CAP-accredited Independent Clinical Laboratory in Shanghai, an ISO13485-certified production facility in Suzhou, and an R&D center at Mayo Clinic headquarters in Rochester, US.