Get the free version of Marbridge Daily delivered to your inbox

Click here to subscribe

Hanvon Invests RMB 20 Mln in Genetic Testing Firm 23mofang

Hanvon, 8/02/17

Chinese input device developer Hanvon Technology (002362.SZ) has disclosed a plan to invest RMB 20 mln in Chengdu-based genetic testing firm Ershisan Mofang Biotechnology (23mofang) through a combination of acquiring existing stock and subscribing to a portion of newly registered capital. The transaction will give Hanvon an 8.74% stake in 23mofang.

23mofang, founded in March 2015, primarily sells consumer-grade genetic testing products, offers bioscience data analysis services, and has also built a big data genetic database. 23mofang offers parentage and hereditary health testing at a price point of under RMB 1,000, with test results including hereditary risks, characteristics, rare genetic diseases, sports health, drug reactions, and nutritional requirements. Sales are mostly conducted online with users across the country.

Hanvon's investment will give it an important position in the overlap between artificial intelligence, big data, and gene technology.

Keywords: 23mofang online healthcare M&A Internet Hanvon 002362.SZ

Marbridge Daily Premium

Interested in gaining full access to all newsletter articles and the Marbridge Daily archive? To learn more about premium subscription options, including pricing, please:

Click here

Marbridge Consulting RSS Feed

Marbridge Reports