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 CNY100 M ( $ 15.8 m ) to finance expansion of its clinic , boost research and development of its products and move deeper into the healthcare market . The global , Shanghai - based company provides clinical genetic testing for health risks , rare genetic diseases and drug reactions . CEO Zhou Kun - 23Mofang has partnered with Thermo bio Scientific to develop biochips that account for more than 300 medical conditions . The funding was led by Matrix Partners China , Hanwang Technology , Yahui Medical Technology and Chengdu Deshang Qidian Equity Investment Fund .