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Temasek and Jack Ma-Backed Fund Invest in Genomics Business

Jack Ma.

Jack Ma.

Photographer: Qilai Shen/Bloomberg

A fund backed by Chinese billionaire Jack Ma and Singapore’s state-owned investment firm Temasek Holdings Pte 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 $75 million 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.