Temasek invests in genomics firm
HONG KONG: A fund backed by Chinese billionaire Jack Ma and Singapore’s state-owned investment firm Temasek Holdings Pte Ltd made new investments in contract genomics organisation WuXi NextCODE, which is expanding in China as the country pushes into the emerging field of precision medicine.
Yunfeng Capital and Temasek co-led a US$75 million (RM324.75 million) Series B round of financing into the company, said WuXi NextCODE .
Other investors include Amgen Ventures, a fund founded by Amgen Inc, and private-equity firm 3W Partners.
WuXi NextCODE has offices in Shanghai, Reykjavik in Iceland and Cambridge, Massachusetts in the United States.
In China, it offers consumers genetic tests that are intended to uncover details such as the rare condition a child might be suffering from or the risk of passing on an inherited disease. Bloomberg