Menlo Park, Calif.-based Grail Inc. raised $300 million in its latest round of financing.
The financing was led by Ally Bridge Group, co-led by Hillhouse Capital Group and 6 Dimensions Capital, with participation by Blue Pool Capital Ltd., China Merchant Securities International, CRF Investment, HuangPu River Capital HPR, ICBC International, Sequoia Capital China and WuXi NextCODE Genomics.
The healthcare company has raised more than $1.5 billion in three equity financing rounds. The amount raised will be used to fund the ongoing development and validation of Grail's products for early cancer detection.
"Many of our new investors have a focus in Asia, which we believe is a natural fit as we plan to grow our capabilities and operations in the region, following the planned launch of our first product for early detection of nasopharyngeal cancer in Hong Kong this year," Grail President Ken Drazan said in a statement.
Earlier this year, Bloomberg News reported that Grail was planning an IPO in Hong Kong.
The company's other investors include Amazon, Arch Venture Partners, Bezos Expeditions, Bill Gates, Bristol-Myers Squibb Co., Celgene Corp., Decheng Capital, Google Ventures, Illumina Inc., Johnson & Johnson, Merck & Co. Inc., McKesson Ventures, Sutter Hill Ventures, Tencent and Varian Medical Systems Inc.
