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KPCB China leads $20m financing of clinical tester Wuhan Kindstar

27 Feb 2012

Kleiner Perkins Caufield & Byers China (KPCBC) has led a $20m financing round of  clinical testing service provider Wuhan Kindstar Diagnostics.

Existing investors WI Harper Group, Baird Capital Partners Asia and Mayo Clinic also took part in the Series C financing for the company, which collects test samples from 300 cities across China.

Venture capital investor KPCBC has built fund assets totalling about $800m since it was founded in 2007, and co-manages a $4bn fund of fund with KPCB US to support Chinese entrepreneurs and promote innovation in high-growth industries.

Its focuses include technology, media and telecommunications, green tech, life sciences and advanced consumer goods and services.

KPCBC managing partner James Huang will join the Wuhan Kindstar board of directors as part of the deal.

He said, “It is our goal as a firm to improve healthcare standards in China by introducing products and technologies that are currently unavailable.

“By utilising testing that helps proactively treat diseases and tailor medicine to the individual patients’ needs, Kindstar is pioneering a new frontier of diagnostics in China.”

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