Shenzhen-based fourth-generation sequencing company Anxuyuan Biotechnology (shenzhen) Company Limited (AXBio) has reportedly secured close to USD 100 million in a Series B financing round. The funding was co-led by AstraZeneca CICC Medical Fund and YF Capital, with participation from C-Bridge Capital, SDIC China Merchants Capital, and 5Y Capital. The proceeds will be utilized for technology optimization, construction of sequencer manufacturing facilities, and business expansion.
Company Background and Technology
Founded in 2016, AXBio operates in both the US and China, boasting a professional team with expertise in biochip development, nanotechnology, microfluidics, biotechnology, bioinformatics, big data, artificial intelligence, and more. The company has developed an ultra-low-cost microfluidic Bio-CMOS platform for high-throughput sequencing and multi-omics molecular diagnostics.
Future Plans
The company’s first Good Manufacturing Practice (GMP)-compliant medical device plant is slated to become fully operational this year. This milestone will support AXBio’s goal of advancing its sequencing technology and expanding its market presence globally.-Fineline Info & Tech
