China Precision Medicine Push Boosting Genomic Business Forays
As the traditional lines between therapeutics and diagnostics become increasingly blurred, genomic testing is growing apace in China, boosted by the country’s national push into precision medicine. Deals and alliances are coming thick and fast as companies jostle for a slice of the growing pie.
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Winter is coming, yet China’s financial market is still hot for healthcare companies looking at a prosperous period of investment before the year ends. Capital investments from Chinese investors dramatically increased in November, particularly in the precision medicines segment. Although Chinese Creat Group’s expected record-breaking outbound pharmaceutical acquisition deal worth $1.5bn failed to gain US approval, cross-border M&A remained active.
A company set up five years ago is now worth billions and new funding keeps pouring into the white hot genome testing area in China, despite some observers warning that valuations are unjustified and the bubble is fit to burst.