Chinese private equity fund Shanghai Debay Capital has invested $50m in UK-based Enigma Diagnostics.
Shanghai Debay is an SPV company incorporated for the single investment from Sailing Capital of Shanghai.
The funding will be deployed over 18 months and will be used to support global commercialization by Enigma of the Enigma ML system.
Beijing Leadman will be partner with Engima with the goal of delivering the Enigma Mini Laboratory molecular diagnostic system to the Chinese market.
Enigma is a provider of molecular diagnostic point-of-care infectious disease testing.
Recently venture capital-backed blood collection and diagnostic business Seventh Sense Biosystems picked up $16m of Series B financing.
Arcus Ventures also co-led a $27m financing round for molecular diagnostics business Exosome Diagnostics alongside industry player QIAGEN.
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