The genetic testing battle has been in the late stage
expressed exclusively, and Panshengzi announced that it has completed a new round of financing of more than 500 million yuan. This round of financing was led by VIVO Capital, CICC Healthcare Investment Fund of CICC Capital and Alexandria Venture Investments, Honghui Capital and existing shareholders.
This round of funding will be used to deepen the translational medical research, product development and commercialization of the three business areas of cancer early screening, diagnosis and monitoring, and pharmaceutical business services, in order to build a precise medical closed loop covering the entire cycle of cancer.
Data comes from whales
Data shows, in recent years, global genetic testing has grown at a rate of 20%, and the industry is expected to grow in the future. Will remain at around 18%.
There are two key reasons for the commercialization of genetic testing. One is that the price of genetic testing has dropped significantly, and it took nearly a hundred million dollars to measure a person’s genome at the beginning of the century. With the advancement of sequencing technology, the price has dropped to nearly $1,000 in 2017.
2001-2017 Genome Sequencing Costs (Source: NHGRI)
Secondly, a large number of new treatment options (such as PD-1/PD-L1 on the tuyere) have emerged in the field of tumor immunity in recent years, but activation of the immune system may also bring side effects such as myocarditis.
China’s huge population base and huge sample size make China very advantageous in the field of genetic testing, which is why a large number of Chinese VCs and startups are pouring into the track.
It is against this background that the pan-son was established in 2013,