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WuXi NextCode Raises $75 Million in Series B Financing

NEW YORK (GenomeWeb) - WuXi NextCode said today that it has closed a $75 million Series B financing in which several of the company's existing investors and partners participated.

Temasek and Yunfeng Capital co-led the financing. Other investors include Amgen Ventures and 3W Partners. Temasek is a Singapore-based investment firm, while Yunfeng is a private equity firm founded by Alibaba Group Holding's Jack Ma.

The new funds will help WuXi advance and commercialize genomic tests for the Chinese market, as well as to strengthen its position in informatics, and expand its capabilities in artificial intelligence and deep learning.

The company has already launched a whole-genome sequencing product for healthy individuals, called HealthCode, in China. The firm presented the first results from a pilot study on HealthCode involving 190 customers at the American College of Medical Genetics and Genomics annual meeting this past March.