Chinese investors lead Grail's $300M series C

Cancer detection company Grail Inc. (Menlo Park, Calif.) raised $300 million in an oversubscribed series C round late Monday. The company said the round was led by Ally Bridge Group and co-led by Hillhouse Capital and 6 Dimensions Capital, with participation from Blue Pool Capital, China Merchant Securities, CRF Investment, HuangPu River Capital, ICBC International, Sequoia Capital China and WuXi NextCode Genomics Inc. (Cambridge, Mass.).

Grail is developing blood-based tests for early cancer detection. Its ongoing observational Circulating Cell-Free Genome Atlas (CCGA) study aims to create a detailed atlas of cancer genetics, while its STRIVE study is designed to validate a breast cancer test and develop a pan-cancer test. Both studies are slated to complete enrollment this year...