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Berry Oncology Raises $99.2M in Series B1 Round

NEW YORK — Berry Oncology said on Thursday that it has closed a $99.2 million Series B1 round of financing.

The round was led by China Merchants Capital Management and included existing investors Qiming Venture Partners and Legend Capital, as well as new investors Zhongjin Qichen Industry Equity Investment Fund, E Fund, Fujian Venture Investment Management, and Xiamen C&D Emerging Industry Equity Investment.

Berry Oncology, a subsidiary of Beijing-based Berry Genomics, said it has raised $309 million since its inception in 2017. The company offers cancer screening tests including Lai Si Ning, a next-generation sequencing-based assay for liver cancer, and maintains sites in Fuzhou and Beijing. It has been working with more than 700 hospitals across China and has provided genomic testing services for hundreds of thousands of cancer patients.

Earlier this year, Berry Oncology partnered with Alibaba Health, a division of Chinese technology firm Alibaba Group, to develop an early cancer screening and healthcare platform.