WuXi raises Series B funding

WuXi NextCODE, a global platform for genomic data, has successfully raised $240 million in Series B financing. The company extended and completed the Series B round with investment from a consortium led by Sequoia China and including Temasek, Yunfeng Capital and 3W Partners.

Temasek, Yunfeng and 3W also participated in the initial Series B round in May alongside Amgen Ventures and other existing long-term investors and partners. China Renaissance Group is the sole financial advisor to WuXi NextCODE in the latest financing round.

The investment will accelerate the growth of WuXi NextCODE’s platform infrastructure and bring new users onboard through precision medicine and diagnostics partnerships. It also seeks to further commercialize its consumer solutions for the China market, ultimately enabling individuals to take charge of their own genomic data and deploy it to advance health and healthcare.

Genomics is an intrinsically global big data opportunity of unprecedented scale, and with breakthroughs in artificial intelligence, there will be explosive growth opportunities in the field of precision medicine.