Alibaba leads $87m funding in biotech firm Creative Biosciences | FI SENSE

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Chinese early-stage cancer screening solution specialist Creative Biosciences (Guangzhou) Co., Ltd has raised 560 million yuan ($87 million) in its Series D round led by Alibaba.

The new round attracted a line-up of new investors including China Renaissance’s sub-fund Huaxing Growth Capital, Costone Capital, Agriculture Bank of China’s ABC International, Shanghai-based Henglu Asset, besides existing backer IDG Capital.

China Renaissance facilitated the transaction.

The firm had raised 600 million yuan ($93 million) in its Series C round in September last year led by Tsing Song Capital with the participation from IDG Capital, GDD Industry Fund Investment Group, Oceanpine Capital, among others.

Established in 2015, Creative Biosciences provides early-stage cancer screening and diagnostics kits targeting colorectal cancer. In partnership with over 600 leading hospitals and clinics, the company has helped complete over 200,000 detections.

Creative Biosciences is extending the screening solutions for cancers of the liver, cervix, and bladder.

In March last year, Creative Biosciences had acquired Helixgen (Guangzhou), a precision medicine player, which specializes in molecular diagnostics and testing platforms. “Early-stage screening is indispensable for healthcare, and it is a key to protect people from severe diseases,” said China Renaissance.

Prior to it, Creative Biosciences had also secured funding from CHD Investments, Shenzhen Qianhai FOF, healthcare-led CD Capital, YuanBio Venture Capital, and Jinhe Capital, Chongqing Boyi Equity Investment Fund Management, and Tasly Holding Group.

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