Siemens invests in Chinese in vitro diagnostic reagent company

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Chemclin, a diagnostics reagents and systems company, has completed $16.5 million Series B financing led by China Healthcare Partnership with participation of existing investors WI Harper, Siemens Venture Capital and SB China Venture Capital.  

China eCapital acted as exclusive financial adviser to the company on the transaction.

This is the first private equity investment of the newly launched China Healthcare Partnership, which is a partnership managed by MC China, a Martin Currie Group company.

The Beijing-based Chemclin has built a distribution network for its large product/reagents offering in Chemiluminescence Immunoassays diagnostics, an in-vitro diagnostic method that is more advanced than the commonly used Enzyme-Linked ImmunoSorbent Assay in China.