WuXi NextCODE to accelerate growth of global platform for genomic data
WuXi NextCODE, a contract genomics organization (CGO) building the global standard platform for genomic data, has closed a $75 million Series B financing from the company's existing investors and partners.
The financing was co-led by Temasek and Yunfeng Capital. Other investors include Amgen Ventures, a corporate venture capital fund established by Amgen, and 3W Partners, a Greater China/cross-border focused private equity firm.
"We are building the world's leading genomic data platform, applying genome sequencing data at scale to improve human health and wellness around the world," said Hannes Smarason, CEO of WuXi NextCODE. "Our rapidly expanding business is serving the world's leading precision medicine initiatives as well as genome-driven diagnostics and wellness enterprises worldwide."
"Genomics is the crossroad where data and biology meet," said Dr. Ge Li, chairman of WuXi NextCODE and founder and chairman of WuXi AppTec. "Through its comprehensive capabilities for digitizing, managing and analyzing genome data, WuXi NextCODE is uniquely positioned to build the open access and capability platform that enables any organization or individual to benefit from genomic big data."
WuXi NextCODE will focus the use of proceeds from this round on advancing the commercialization of its consumer solutions for the China market; to further strengthen its global leadership position in informatics; and to expand its capabilities in artificial intelligence and deep learning.