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.