Qiagen Suzhou raises RMB175M in series A

Molecular diagnostics company Qiagen Suzhou Translational Medicine Co. Ltd. (Suzhou, China) raised RMB175 million ($25.8 million) in a series A round led by Qiming Venture Partners. Quan Capital, BoYueZhiYuan Capital and Shanghai Angel Medical Instrument Co. Ltd. also participated.

Qiagen Suzhou provides services including biomarker R&D and development of companion diagnostics. The company said it plans to build a GMP facility for R&D and production, expand its sales channels, and develop and commercialize its own companion diagnostics for immunotherapies and tumor-targeted candidates...