BEIJING, May 27 (Xinhua) -- New Horizon Health, a Hangzhou-headquartered biotech company, announced late Friday that it has completed its Series C round of financing, securing 66 million US dollars from overseas investors to promote early cancer screening service.
Led by VMS Group and followed by Legend Capital, SB China Capital, Sherpa Venture Capital, etc., this round of financing has brought the total amount that New Horizon Health has raised in the past four years to over 100 million US dollars.
Founded in 2013, New Horizon Health has been focusing on developing early detection technology for colorectal and lung cancer. It has so far put on market a series of early colorectal cancer detection products that can be conveniently used at home, as well as a product to assist lung cancer diagnosis through sputum detection, which is the first of its kind approved for clinic use in China, said Zhu Yeqing, CEO of New Horizon Health.
ColoClear is an early colorectal cancer detection product launched by the company in 2015. It may identify the genetic mutations that commonly occur in early stages of colorectal cancer development and detect tumors with a diameter above one centimeter, providing a simple and non-invasive solution to early finding and diagnosis of colorectal cancer.
Pupu Tube is a Point of Care device that detects fecal occult blood, which was developed jointly by New Horizon Health and the Oncology Institute of Zhejiang University in 2016. It is widely adopted by the China National Cancer Center, medical institutions and drug stores.
LungClear, a sputum nucleic acid analysis technology independently developed by New Horizon Health, has been approved by China Food and Drug Administration (CFDA) as an in vitro diagnostic reagent to diagnose lung cancer. LungClear thus becomes the first lung cancer assistant diagnosis technology by sputum detection, which has been put into commercial use.
Zhu Yeqing stated that after this round of funding, his company will further expand investment in research and development, extend the product scope and upgrade the commercial capability, aiming at introducing more and better scientific and research findings in the lab to the market to benefit thousands upon thousands of families. (Edited by Zhang Aifang, email@example.com)