Genetics is a key element of healthcare puzzles. Chengdu-based consumer genetic testing startup 23Mofang has raised Rmb100 million ($15.8 million) in a Series B funding round led by Matrix Partners China.
Genetic testing start-up 23Mofang has raised CNY100M ($15.8m) to finance expansion of its clinic, boost research and development of its products and move deeper into the healthcare market. The Chengdu, China-based company provides consumer genetic testing for health risks, rare genetic diseases and drug reactions. CEO Zhou Kun said 23Mofang has partnered with Thermo Fisher Scientific to develop biochips that test for more than 300 medical conditions. The funding was led by Yahui Medical Fund, Hanwang Technology, Matrix Partners China and Chengdu Deshang Qidian Equity Investment Fund.