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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. 

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