Annoroad raises nearly $105M


On November 02, 2017, Annoroad announced the completion of its latest round of financing (nearly $105 million). This round of investment has been co-led by GTJA Investment Group and Ping An Ventures, other investors like SBCVC, SAIF Partners China, etc. are also involved.


Annoroad is focusing on the industrialized application of new-generation genomics technology in the field of human medical health and life science research. Based on the technological innovation, Annoroad has established a systematic service and product platform in the sectors like R&D and manufacturing of high-throughput gene sequencer and relevant reagents, fertility and reproduction gene testing, genetic disease testing, diagnosis and treatment of tumors, genetic health screening, medical research, scientific research service, gene big data processing, etc., and formed the layout of whole industry chain covering upstream, midstream and downstream industries and strong Bio-IT service ability. Annoroad’s NextSeq 550AR sequencer and Non-Invasive Prenatal Testing (NIPT) reagent kit have been approved by CFDA and widely applied in China. Currently, Annoroad’s sub-brand “AnnoGene” is among the top three within the sequencing service providers in China, reputed by its sophisticated sequencing technology services (such as single-cell multi-omics, Hi-C, etc.). SolarGenomics, a cloud-based genomics big data platform of Annoroad, strategic cooperated with Alibaba Cloud, is one of the rare gene big data platforms with the technical capacity of hybrid cloud.


Dr. Chongjian CHEN, CEO of Annoroad said: “Such financing will give fresh impetus into the development of Annoroad. With the mission of enhancing the life value, based on gene technology, Annoroad is aiming at bringing more further social benefits, serving human health and accelerating the discoveries in life science. We are particularly grateful to the like-minded investment institutions. Annoroad will, using the platform-trategy of genomics technology, in such sectors like hardware device, service and diagnosis products and data cloud service, implement a sustainable development”.


This financing process has been completed by two steps. The fund will be used in supporting expansion of business scale, constructing talents system, and improving technical research and development, as well as investing in new genomics technology and upstream and downstream enterprises of industrial chain.


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