Ally Bridge Group (HK) Limited stated on Monday that it has invested USD300m in GRAIL Inc under its Series C financing agreement.

Additionally, Ally Bridge's investment in Grail represents another successful collaboration with its strategic partner and portfolio company Wuxi Pharmatech. Another strategic partner of Ally Bridge's, Lifetech Scientific (HKSE:1302), participated in the GRAIL investment through its joint venture with Ally Bridge.

Founded and led by Frank Yu, Ally Bridge Group (ABG) is a global healthcare-focused investment firm. ABG and its affiliates manage over USD2bn in healthcare assets in China, the US and Europe, from medtech to biopharmaceuticals.

GRAIL is a healthcare company and is using the power of high-intensity sequencing, population-scale clinical studies and state-of-the-art computer science and data science to enhance the scientific understanding of cancer biology and to develop and commercialise pioneering products for the early detection of cancer.