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Shenzhen's AxBio Raises $100 Million for Low-Cost, High Precision Sequencing Machines

publication date: Jun 20, 2022

AxBio (Anxuyuan), a Shenzhen-Silicon Valley sequencing company, raised nearly $100 million in a Series B financing for its low-cost, miniaturized and high precision sequencing devices. The company’s device is based on single-molecule sequencing technology and can provide long read length. Founded in 2016, AxBio believes it can reduce sequencing costs by two orders of magnitude. It will use the capital to optimize its technology and complete construction of a Shenzhen manufacturing facility. Trial production will begin later this year. The B round was led by AstraZeneca CICC Medical Industry Fund and Yunfeng Fund. More details....

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