GeneCast Biotechnology Co. Of Beijing Raises $18 Million For Cancer DNA Diagnostics

Genecast, a Beijing cancer diagnosis company, raised $18 million in a Series B round, led by Tshinghua Holdings, also of Beijing. Tshinghua is owned by Tshinghua University and was formed to manage the University’s technology transfer operations, though it isn’t clear if Genecast is the product of Tshinghua. Genecast, which was founded in 2014, offers DNA testing of tumors and gene-based medicine guidance. The company claims expertise in lung, colon, liver and breast cancers. Genecast plans to use the proceeds for further research and clinical trials, as well as expanding distribution channels.