Photo/Shetuwang

Dec. 26 (NBD) -- Geneseeq, a Chinese company that develops Next Generation Sequencing (NGS) for precision medicine in cancer treatment, announced on Thursday that it has completed a new financing round of 800 million yuan (115 million U.S. dollars) led by China Reform Holdings Corporation Ltd and followed by biomedical venture capital firm Lilly Asia Ventures, SoftBank China Capital and other investors.

Established in 2008, the precision medicine firm has headquarters in both China's Nanjing and North America's Toronto.

The global NGS market is expected to reach 19.70 billion U.S. dollars by 2025, registering a compound annual growth rate (CAGR) of 12.78 percent, according to a new report by Grand View Research.

China's NGS industry, now led by Shenzhen-based genetics firm BGI Group, is on the fast track of growth. According to market survey company Qianzhan Industry Research Institute, the country's NGS market posted a CAGR of 20-25 percent from 2012 to 2017, the highest across the world, and the market size is expected to surpass 15 billion yuan by 2020.

Email: lansuying@nbd.com.cn