Beijing Baicare Biotech closed a $9 million B financing that was led by Sinopharm Capital and included the company’s existing shareholders. Formed in 2013, Baicare makes automated nucleic acid detection devices for clinical use using microfluidic chips and gene detection technology. The company offers a program to detect pathogenic bacteria and another to assess antibiotic/drug resistance that guides doctors toward more effective treatments. Because of its stature, Sinopharm will be able to help Baicare increase its visibility in the clinical diagnostic field.
Source: China Biotoday