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NuProbe Raises $42M

NEW YORK — Molecular diagnostics firm NuProbe said on Monday that it has closed an oversubscribed $42 million financing round.

The fundraise was led by BioTrack Capital and Yonghua Capital, with participation from Taifu Capital, Panlin Capital, Juming Capital, and Tuobang Capital, as well as existing investors Sequoia Capital China, Ruomu Capital, and Serica Partners.

NuProbe said it will use the proceeds to expand its US and Chinese commercial teams, develop new next-generation sequencing products, and file for Chinese regulatory approval for its clinical products. 

In June, NuProbe signed a deal to develop a liquid biopsy panel for non-small cell lung cancer using its blocker displacement amplification technology with Weigao Group. Also in 2020, the company, which has operations in Houston and Shanghai, inked diagnostic development partnerships with Qiagen and Illumina.