September 7, 2017 / 11:50 AM / a year ago

WuXi NextCODE raises $240 mln from Sequoia Capital, Temasek and others

HONG KONG, Sept 7 (Reuters) - A Temasek-backed Chinese genomics firm said on Thursday it had raised $240 million in its latest funding round from a consortium led by Sequoia Capital China, one of the largest such fund raisings in genomics.

WuXi NextCODE, the genomics arm of WuXi AppTec, China’s largest contract medical researcher, said in a statement that besides Sequoia China, the series B fundraising had also drawn investment from existing investors Singapore state investor Temasek, Jack Ma-backed private equity firm Yunfeng Capital and Chinese investment firm 3W Partners.

“In leading WuXi NextCODE’s latest financing round, Sequoia China is able to support the company to build out a standard platform to efficiently turn sequence data into benefits for people worldwide. This is truly where healthcare and technology meet,” Neil Shen, founding and managing partner of Sequoia China, said in the statement.

China Renaissance was the sole financial advisor to WuXi NextCODE in the latest financing round. (Reporting by Julie Zhu; editing by David Clarke)

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