China Digest: Cyagen snags $41m; Alibaba-backed Amwise raises $10m
Summary
China’s transgenic animal models provider Cyagen Biosciences has raised 285 million yuan ($41 million) from CMS Capital, Grower Venture Capital, GF Qianhe and GF Investment. In a separate development, Alibaba-backed Amwise has secured $10 million in its Series B round led by Simcere Medical Diagnosis. China’s transgenic animal models provider Cyagen Biosciences has secured 285 million yuan ($41 million) in a Series B round of financing from China Merchants Securities’ investment vehicle CMS Capital, Grower Venture Capital, GF Securities’ subsidiaries GF Qianhe and GF Investment, according to a company statement. The proceeds will be used for business expansion, pipeline innovation and CRO platform development. Based on Asian genes, the company has developed a proprietary pipeline for breast cancer diagnosis.