Recently, Beijing Jiyinga Technology Co., Ltd. (hereinafter referred to as “Jinga”), a leading domestic precision medicine company for oncology, announced that it has completed a Series C financing with a total amount of about 750 million yuan, which has been currently in place. This round of financing was led by CCB International, with investors including Fortune Capital, Jinmao Capital, GGV Jiyuan Capital, and BV Baidu Ventures, Alibaba Health, Yuanfeng Capital, CCB Investment, Huajin Investment, Shengyu Investment, Junci Investment, Zhongguancun Zhongnuo Fund, Golden Seed Fund, Weiting Capital, Chuanghehui Capital and many other well-known institutions. China Renaissance Capital acted as the exclusive financial advisor for this financing.
Wu Chenyao, partner of GGV Jiyuan Capital, said: "With the rapid development of new tumor treatment technologies such as targeted drugs, immunotherapy, and tumor vaccines, human beings are constantly advancing on the journey of conquering tumors, and almost all new treatment methods, All rely on the results of gene sequencing, so tumor gene sequencing has a huge market space. At the same time, with the rapid development of domestically-owned gene detection technology, there are huge opportunities for domestic substitution in the field of gene sequencing, and Jiyinga is a leader in domestic tumor gene detection. Jiyuan Capital is very optimistic about the Jiyinga team under the leadership of Dr. Yi Xin and Dr. Yang Ling, and believes that Jiinga will continue to make breakthroughs in business, scientific research, and products, and become a leading independent and controllable platform-based genetic testing company. "
This round of financing will be used to further promote the innovative R&D, registration and clinical services of GEINGA Oncology Panel genetic testing, early tumor screening and other products, as well as in-depth cooperation with innovative pharmaceutical companies in the oncology field on the collaborative development of new drugs.
Founded in 2015, Jiyinga is a high-tech enterprise that has been deeply involved in the field of oncology precision medicine. The company has established medical testing laboratories, medical device industrialization bases, genetic research institutes and other entities in Beijing, Suzhou and Shenzhen. Relying on the domestic NGS sequencing platform and gene big data analysis platform, the company creates the four business segments, including the clinical testing services, medical equipment manufacturing, scientific and technological cooperation services, cancer prevention and treatment services to provide an entire chain of products and services for cancer prevention and treatment.
As a leader in the clinical application of the domestic NGS platform, Jiyinga is the only company that has obtained the approval of the Class III medical device registration certificate for gene sequencers, the Class III medical device registration certificate for tumor gene mutation detection kits, and the Class II medical device registration certificate for tumor NGS automatic analysis software. Through its "three-certificate complete" domestically integrated solutions, it serves dozens of key hospitals in China, helping to carry out the application of the whole-process tumor gene detection service in the hospital; At the same time, the company focuses on clinical precision medicine and monitors the actual needs of the whole disease process to launch the Onco series of cancer detection products that meet the needs of individualized treatment of cancer patients, establishing cooperation with more than 1,000 clinical experts in more than 500 key hospitals in China, with completion of more than 250,000 tumor sample detections so that more than 100,000 cancer patients have a better survival; In terms of pharmaceutical company services, the company has established cooperation with more than 30 domestic and foreign first-class tumor drug research and development companies to provide full-cycle services such as new drug clinical trials, companion diagnostic development, and post-marketing research; In terms of early diagnosis and early screening, the company has developed an early screening technology that simultaneously detects genomic mutations and methylation levels. The PREDICT multi-center clinical research project for prospective pan-cancer screening for high-risk populations has started clinical trials for two years. Also, the relevent screening kit products are about to enter the registration application stage.
Dr. Yi Xin, CEO of Jiinga, stated: "Thank you to the investors of this round for their recognition of Jiinga, and also thank all the investors in the early stage for their support to us all the way. For six years, we have been insisting on doing a good job of tumor genetic testing, which has witnessed the rapid development of the entire industry. The localization of gene sequencers has allowed us to obtain a good cost advantage. The continuous certification of tumor NGS testing medical devices has allowed us to strengthen the qualification barriers, achieve compliance and cost-effective testing. This is not only the development trend of the industry, but also the faith that Jiinga has adhered to all the way. With the successful completion of this round of financing, we will further increase R&D investment, and promote more blockbuster products in the pipeline, including tumor panel genetic testing, liver cancer early screening, and other major products to complete R&D and application for listing more quickly, so as to provide more doctors and patients with better products and services."