NEW YORK — NuProbe Global said on Thursday that it has raised $50 million in private funding.
The financing was co-led by AstraZeneca-CICC Fund, CR-CP Life Science Fund, and Panlin Capital, with participation from existing investors Sequoia Capital China, Biotrack Capital, and Yonghua Capital. New investors in the new financing include Pappas Capital, Haoreng Capital, and Deguan Capital.
NuProbe, which describes itself as a genomics and molecular diagnostics company, said that it will use the money to expand commercial operations, accelerate in vitro diagnostic product clinical studies and regulatory submissions, and develop new genomics and molecular diagnostic technologies.
"NuProbe's principle is to deliver the best genomics information to clinicians at reasonable prices so that doctors can make optimally informed decisions on how best to treat patients," NuProbe Cofounder and CEO Yingshuang Chai said in a statement. "With the strong support from our investors, we expect to make rapid progress over the coming years to improving patient lives globally."
NuProbe, which maintains operations in Houston, Shanghai, and Suzhou, China, raised $42 million in early 2021. Later that year, it struck separate partnership deals with C2i Genomics, focused on artificial intelligence-based technologies for cancer detection and monitoring, and Bionano Genomics, around reproductive health and oncology liquid biopsy testing.