SINGAPORE (May 2): A fund backed by Chinese billionaire Jack Ma and Singapore’s state-owned investment firm Temasek Holdings made new investments in contract genomics organization WuXi NextCODE, which is expanding in China as the country pushes into the emerging field of precision medicine.

Yunfeng Capital and Temasek co-led a US$75 million ($1.05 billion) Series B round of financing into the company, WuXi NextCODE said in a statement. Other investors included Amgen Ventures, a fund founded by Amgen Inc., and private-equity firm 3W Partners.

WuXi NextCODE has offices in Shanghai, Reykjavik, Iceland, and Cambridge, Massachusetts. In China it offers consumers genetic tests that are intended to uncover details such as the rare condition a child might be suffering from or the risk of passing on an inherited disease.

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