Analytical Biosciences Completes Series A4 Financing to Accelerate Single-Cell Big Data and Integrated Analysis Platform for Innovative Drug Discovery

On May 25, 2021, Abiosciences (Analytical Biosciences) successfully completed its Series A4 financing round. The round was led by HongShan, with participation from IDG Capital, Green Pine Capital, and Primavera Capital.

This marks another round of financing following the strategic investment Abiosciences received from BioMap in February this year. Prior to this, Abiosciences had already secured investments from SoftBank China Capital and Xingze Capital, alongside continued backing from IDG Capital. The successive participation of numerous renowned investment firms underscores the capital market’s strong preference for single-cell mechanistic research platforms and bioinformatics big data/AI platforms, reflecting high recognition of Abiosciences. This capital influx also provides the company with a more robust cash flow, laying a solid foundation for its rapid growth.

This round of financing will enable Abiosciences to further systematically expand and accelerate the translational application of its single-cell big data platform and single-cell one-stop data analysis platform in innovative drug R&D. It will strengthen the development of the company’s drug target R&D center, candidate macromolecule mechanism R&D center, and high-performance biocomputing/AI platform, thereby enhancing its core competitiveness in efficiently processing and deeply interpreting massive single-cell data. The funding will also advance the company’s progress in novel drug target discovery, immunobiological validation, antibody development, biomarker discovery, basic research, and clinical research, helping to consolidate its comprehensive market advantages and establish an international leading position. Concurrently, it will further expand the commercial footprint and accelerate the deployment of a systematic and highly efficient international operational framework.

Professor Zemin Zhang, Founder of Abiosciences, Peking University Biomedical Pioneering Innovation Center (BIOPIC)Stated: Currently, biomedicine is rapidly advancing toward more precise, quantitative, and big data-driven paradigms, with single-cell genomics data emerging as the cornerstone of drug discovery and development, clinical diagnostics, and basic scientific research. Leveraging single-cell sequencing technologies, artificial intelligence, and proprietary bioinformatics analytical methods, Abiosciences is rapidly and efficiently mapping precise single-cell atlases of human diseases, providing a robust data foundation and in-depth analytical support for therapeutic development targeting cancers and other diseases. This funding round will significantly accelerate the development and maturation of Abiosciences’ single-cell big data platform, intelligent analytical pipelines, and solutions, facilitating their broader and deeper application in the research and development initiatives of Abiosciences and its partners, thereby accelerating efforts to conquer major diseases such as cancer.

Dr. Wang Yangzhou, CEO of AbiosciencesStatement: The transformative power of single-cell technology has become an industry consensus and is poised to bring profound changes to biomedicine. Abiosciences is highly honored to collaborate with numerous strategic capital partners to explore the highly promising single-cell market and witness the dawn of a new era in single-cell data-driven biomedicine. We are delighted to receive the continued recognition and unwavering support from our investors. With the rapid advancement of single-cell sequencing technologies and the exponential accumulation of data, the complexity of data processing is increasing daily. Efficiently processing, deeply mining, and accurately interpreting massive single-cell datasets has emerged as a critical bottleneck in leveraging single-cell data for drug discovery and translational applications. Thanks to Professor Zhang Zemin’s extensive research expertise and the continuous development and unremitting efforts of the entire Abiosciences team over the past two years, the company has established unique core competencies in this domain. This new round of capital injection will significantly empower Abiosciences to further expand its competitive edge in the market and solidify its leadership position in single-cell multi-omics big data/AI platforms and novel drug R&D.

Message from the Investor

HongShan Managing Director Han Jiang: HongShan has long focused on fundamental breakthroughs in novel technologies for drug discovery and diagnostic development, with the continuous maturation of single-cell genomics being a prime example. We highly recognize the achievements of Abiosciences’ founding team, the company’s strategic direction for future growth, and its highly anticipated innovative breakthroughs. HongShan will, as always, leverage its professional team with extensive industry experience to support leading innovative enterprises like Abiosciences, connect them with globally accessible resources, empower business development, and assist in advancing technological progress and product development for the betterment of society.

Dr. Pang Zixuan, Vice President of IDG Capital: As the first and sole investor, IDG Capital has participated in the founding and development of Abiosciences over the past two years, and has continued to increase its investment in subsequent financing rounds. Over the past two years, we have witnessed remarkable progress made by the Abiosciences team under the leadership of Professor Zemin Zhang, and we remain firmly optimistic about the broad application prospects of single-cell big data. IDG Capital will continue to support the development of Abiosciences and the single-cell sector, and we look forward to Abiosciences’ technology platform consistently delivering major translational breakthroughs across multiple domains.

Luo Fei, Founding Partner of Green Pine Capital: As an investor in the latest financing round of Abiosciences, we are optimistic that under the leadership of Professor Zhang Zemin and the management team, the application of single-cell and bioinformatics platforms to the diagnosis and treatment of major diseases will enable the discovery of novel diagnostic and therapeutic targets, thereby driving the development of breakthrough innovative drugs.

Zou Ling, Co-Head of Primavera Capital: Single-cell sequencing technology is accelerating its transition from research to clinical applications. Particularly in the field of cancer immunology, its unique advantages in analyzing intra-tumoral heterogeneity and the immune microenvironment grant it broad application prospects. We are highly optimistic about Professor Zhang Zemin and the Abiosciences team's ability to translate academic achievements into industry practice, and we also look forward to Abiosciences becoming a global leader in the single-cell field in the future.

Founded in December 2018, Abiosciences is dedicated to the comprehensive application of its single-cell mechanistic research platform and bioinformatics big data/AI platform to the diagnosis and treatment of major human diseases such as cancer. By leveraging its established and rapidly refined single-cell precision atlas of human diseases, the company aims to discover novel therapeutic and diagnostic targets and develop breakthrough therapeutics.

The core founding team of the company possesses professional expertise and international management backgrounds in genomics, bioinformatics, ICT, and investment, with extensive experience in the biotechnology and pharmaceutical industries. Founder and Scientific Advisor Professor Zemin Zhang previously served for many years at the renowned U.S. pharmaceutical company Genentech as Chief Scientist of the Bioinformatics Department, and is an internationally renowned cancer genomics scientist. CEO Dr. Yangzhou Wang formerly served as Chief Operating Officer at Crown Bioscience Inc., bringing years of extensive management and operational experience across the biotechnology, pharmaceutical, and life sciences sectors.

As a biotechnology company with a global vision and an internationally leading position in cutting-edge single-cell technologies, Abiosciences has established dual operational centers in China and the United States. While simultaneously expanding its presence in both domestic and international markets, the company specializes in the research and development of drug targets and biomarkers, as well as the application of commercial single-cell big data analytics platforms and integrated single-cell big data management systems. Since its establishment, Abiosciences has been certified as a Zhongguancun High-Tech Enterprise and a National High-Tech Enterprise, and has successively forged long-term, in-depth partnerships with renowned pharmaceutical companies, universities, and hospitals both domestically and abroad.

Sequoia Capital has consistently been committed to helping entrepreneurs build enduring, great companies, bringing extensive global resources and invaluable historical experience to its portfolio companies. Over the past 49 years, Sequoia Capital has invested in numerous innovative enterprises and industry trendsetters. As the “entrepreneur behind entrepreneurs,” HongShan focuses on investment opportunities across three key sectors: TMT, healthcare, and consumer goods/services. Over the past 16 years, HongShan has invested in nearly 600 companies distinguished by their distinct technological profiles, innovative business models, and high growth potential.

IDG Capital pioneered venture capital investments in China in 1993 and is a globally leading private equity and venture capital firm. After nearly 30 years of development, its business now spans Europe, North America, and the Asia-Pacific region. The firm currently maintains offices in 13 cities across five countries, including New York, Boston, London, Beijing, Shanghai, Hong Kong, Seoul, and Hanoi, with cumulative assets under management exceeding RMB 150 billion. IDG Capital focuses on leading companies in sectors such as the Internet and high-tech (TMT), new consumption and services, cultural entertainment, healthcare, advanced manufacturing, and clean energy. Its investment scope covers all stages from early-stage, growth, and mature phases to M&A and restructuring, with deal sizes ranging from several million to over a hundred million US dollars. To date, IDG Capital has invested in over 1,000 outstanding enterprises globally, of which more than 200 have successfully exited via IPOs or M&A in the capital markets of the United States, Europe, Hong Kong, and mainland China.

Green Pine Capital was founded in 1996 by venture capitalists Mr. Li Wei and Mr. Luo Fei. As one of the longest-established domestic venture capital institutions in China, its core team possesses over 20 years of experience in technology investment.

Green Pine Capital possesses extensive investment experience across multiple high-tech sectors, including the digital economy, new materials, and biopharmaceuticals. Consistently focused on innovative technologies and the development of technology platforms, the firm leverages its professional expertise to identify emerging industry leaders and utilizes its capital operation experience to facilitate corporate growth. Green Pine Capital has served as an angel investor for enterprises such as BGI, Royole, KuangChi Science, Appotronics, BMF Materials, Dynanonic, and Raling New Materials. Furthermore, as an early-stage investor, it supported SenseTime, playing a pivotal role in ushering China into the artificial intelligence era.

Currently, Green Pine Capital manages over RMB 16 billion in assets and has invested in nearly 400 projects, half of which are early-stage technology ventures. Fifty-five projects have exited through IPOs or acquisitions by listed companies. As of May 2021, seven portfolio companies backed by Green Pine Capital have been listed on the Science and Technology Innovation Board (STAR Market).

Primavera Capital Group, founded in 2010 by renowned economist Dr. Fred Hu, is a global professional investment management firm with assets under management exceeding USD 10 billion. Its portfolio includes top-tier enterprises such as Yum China, ByteDance, Alibaba, Kuaishou, Didi Chuxing, Hello Inc., XPeng, Junlebao Dairy, and SenseTime.

Primavera Venture Partners is an early-stage investment fund under Primavera Capital Group that focuses on frontier technology sectors. Its primary investment areas include artificial intelligence and related vertical applications, the new-generation industrial internet, and medical technology, among others. Investment cases include: Enflame Technology, JianShi Medical, Iceland Spar Technology, Xbiome, Zap Surgical, etc.

Upholding the philosophy of “originality, accessibility, safety, and sharing,” Primavera Capital aspires to empower entrepreneurs driven by genuine original innovation and disruptive technologies. We pursue the vision of harnessing technology to benefit humanity, providing robust momentum to realize both commercialization and social value. The future has arrived, and innovation never ceases. With our original aspiration unwavering, spring’s blossoms yield autumn’s harvest.