Berry Oncology Completes Series B1 Funding, Attracting Most Venture Capital to Date in Early Cancer Screening Sector
Summary
By leveraging its advantages in technology, business channels and capital, Berry Oncology has established a complete genetic testing product service system for high-risk populations and patients of cancers. Up till now, it has been working with over 700 hospitals in China and has provided genetic testing of cancers for hundreds of thousands of cancer patients.In recognition of Berry Oncologys potential, in November 2017, well-known investors including Legend Capital, Boyu Capital Advisory Company Limited, Qiming Venture Partners, Hongling Equity Investment Management Co., Ltd. among others agreed to invest US$123.6 million in the company to fund its early cancer diagnosis R&D and other operational activities, marking the largest single financing round in cancer-related genetic testing in China in 2017. In the past four years, the company continues to achieve significant milestones and we look forward to working with Berry Oncology as it delivers breakthrough early detection for cancer patients both in China and globally. "Zhou Quan, Managing Director of Legend Capital, said that, as an existing shareholder of Berry Oncology, he was very happy to participate in this round of financing to help the company make faster progress in product registration, technology R&D, and market expansion.In 2020, 16 companies in the sector completed 17 financing rounds worthy of US$972.6 million in total, demonstrating the markets high expectation for the industry. We serve and cooperate with more than 600 Class 3A tertiary hospitals across the country, and have provided valuable genomic testing services for hundreds of thousands of patients.