Chinese diagnostics firm WuXi Diagnostics raises $150m in Series B round
WuXi Diagnostics has developed a series of COVID-19 detection products. Source: WuXi Diagnostics
February 24, 2021
Chinese integrated diagnostics developer WuXi Diagnostics has raised $150 million in a Series B round of financing to advance its R&D pipeline and open-access innovation enabling platform, as the firm seeks to accelerate its market penetration in the global diagnostics sector.
The Series B round was backed by new investors including Thermo Fisher Scientific, the world’s largest maker of scientific instruments; healthcare-focused investment firm Shiyu Capital; ABC International, a wholly-owned subsidiary of Agricultural Bank of China; Sunland Capital, which focuses on early- and growth-stage healthcare investments; and equity investment fund CCBI Tech Venture.
Dr. Anthony Fauci, the nation’s coronavirus czar, says it’s possible masks could be needed for another year.
The California Department of Public Health, which regulates laboratories, said the findings came from its initial routine inspection in early December. The company said it appeared some of the information it provided since then had not been included in that inspection report.
But the department said earlier this month that it also is investigating whistleblower allegations of incompetence and mismanagement, including reports of workers sleeping on the job.
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Records obtained by CBS13 TV in Sacramento alleged problems including swapped samples, inconclusive tests caused by contamination, and inaccurate results sent to patients. The health department acknowledged then that at least “38 samples were reported incorrectly” because of mix-ups in samples, but said patients were promptly notified.
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PerkinElmer, Inc., (NYSE: PKI) a global leader committed to innovating for a healthier world, today provided an update on the COVID-19 Valencia Branch Laboratory’s (VBL) accreditation process. The VBL is operated by PerkinElmer in partnership with the California Department of Public Health (CDPH). The VBL started operations on November 1, 2020, and Laboratory Field Services (LFS) performed its routine inspection on December 8, 2020.
The VBL received LFS’s routine inspection report on February 19, 2021, and PerkinElmer’s response is due by March 1, 2021. During the months of December and January, the VBL supplied additional information at LFS’s request. Upon review, it appears that LFS had not yet incorporated this extensive information into its routine inspection report. PerkinElmer believes that the deficiencies identified by LFS have long since been resolved.