CBC Venture Arm Announces Debut Investment in Nanopore-based Low-cost Single-molecule Sequencing Platform Axbio Inc.

Singapore, June 20, 2022 – CBC Group (“CBC”), Asia’s largest healthcare-dedicated investment firm, announced today its participation in Axbio Inc.’s US$100 million Series B financing, which will accelerate R&D and commercialization of Axbio’s low-cost single-molecule sequencing solutions. The investment is CBC Venture’s first transaction since the team’s inception in 2021, as the firm continues to unlock life sciences innovations and fulfill unmet medical needs.

Axbio Inc., founded in 2016, is dedicated to accelerating the discovery of precision therapeutics via proprietary new generation gene sequencing technologies. With a deep bench of scientists, engineers, and serial entrepreneurs from Silicon Valley, Axbio has developed a microfluidics Bio-CMOS platform capable of high-throughput single-molecule sequencing and diversified molecular diagnostics. Its foundational work in gene sequencing can advance disease research, drug development and the development of molecular tests.?

Marco Ma, Managing Director of CBC Venture, commented, “Axbio’s nanopore-based low-cost single-molecule sequencing platform is critically important for the precision medicine market. It enables fast cancer diagnostics, rapid pathogen detection, and drug development – areas where accuracy, speed, and cost of comprehensive tests are of utmost importance. We look forward to working closely with Axbio to further build CBC’s global healthcare ecosystem and provide better healthcare services for all.”

New funding will enable Axbio to continue rapidly advancing research and commercialization of its new generation sequencer in the fast-growing genomics market. Its first GMP manufacturing facility in Wuxi, China, will be completed by the end of 2022. AstraZeneca-CICC Healthcare Industrial Fund and Yunfeng Capital also participated in Axbio’s Series B financing.?

CBC Venture’s minority investment strategy complements the firm’s buyout and control platform to fully access the universe of life sciences winners, identifying high-potential early and growth stage companies with a focus on innovative and disruptive technologies. CBC’s unique “investor-operator” approach accelerates such firms’ growth, connecting them with global markets, capital, and talents. CBC provides fit-for-purpose solutions to support the growth of its healthcare ecosystem through a wide range of strategies, including buyout, venture capital, private credit, and infrastructure.?

About CBC Group

CBC Group, Asia's largest healthcare-dedicated investment firm, is committed to creating value and integrating global resources. Partnering with the world's top entrepreneurs and scientists, its unique investor-operator approach has empowered global leading healthcare companies to widen access to affordable medical care, catalyze innovations, and improve efficiency in fulfilling unmet medical needs worldwide. Founded in 2014, CBC has a leading team of investment, industry and portfolio management professionals headquartered in Singapore with offices in Shanghai, Beijing, Hong Kong and New York, and presences in Boston, San Diego, San Francisco, and Tokyo. CBC focuses on platform-building, buyout, credit and growth-focused opportunities across multiple core areas within the healthcare sector, including pharmaceutical and biotech, medical technology and healthcare services. For more information, please visit www.cbridgecap.com