Vision Medicals Completes Hundreds of Millions RMB Series D+ Financing to Lead the Field of Pathogen Precision Diagnostics

Recently, VISION MEDICALS announced the successful completion of its RMB hundreds of millions Series D+ financing round, led by Kequan Fund and participated by Tianxin Fund. The funds raised in this round will be primarily used to advance the research and development and IVD conversion of pathogen molecular precision diagnostic products, and to accelerate the deployment of its comprehensive solutions across top-tier medical institutions nationwide. Meanwhile, VISION MEDICALS will establish a new advanced production base for molecular diagnostic reagents and instruments.

VISION MEDICALS, established in 2018, specializes in genetic diagnostics and precision medicine for infectious diseases. The company is dedicated to building an AI-driven diagnostic system for infectious diseases based on genomics, radiomics, and big data from electronic medical records (EMR), providing comprehensive solutions for precise clinical diagnosis of infections. VISION MEDICALS has established a R&D center, a medical testing laboratory, and a GMP-compliant production base for in vitro diagnostic products, covering over 10,000 square meters. It has also set up testing centers and branch offices in multiple cities, including Beijing, Shanghai, Guangzhou, Zhengzhou, and Chengdu. The company has accumulated metagenomic next-generation sequencing (mNGS) data from more than 400,000 samples and has participated in the early detection and identification of major pathogens, such as the novel coronavirus.

VISION MEDICALS has pursued relentless innovation across multiple molecular diagnostic technology platforms, boasting a portfolio of independently developed instruments and reagents. In the field of precise pathogen diagnosis, the company offers tailored products for diverse clinical scenarios and needs: IDseq Prime, based on random sequencing for metagenomic next-generation sequencing (mNGS); IDseq Ultra, combining random sequencing with probe-targeted sequencing (mNGS+tNGS); and IDseq Focus, utilizing probe-capture targeted next-generation sequencing (tNGS). Since 2022, the company has successively obtained Class III medical device registration certificates from the National Medical Products Administration (NMPA), achieving full-process qualification certification covering “diagnostic reagents, sequencers, and analysis software.”

VISION MEDICALS boasts substantial achievements in research translation and a comprehensive intellectual property portfolio, having published over 70 high-impact SCI papers, secured nearly 50 granted invention and utility model patents, and obtained 30 software copyrights. Leveraging its robust technical capabilities and excellent quality management standards, VISION MEDICALS has achieved perfect scores in the mNGS external quality assessment (EQA) organized by the National Center for Clinical Laboratories (NCCL) of the National Health Commission for three consecutive years. Furthermore, in March 2024, it successfully passed the re-accreditation for the Pathogen Metagenomic Next-Generation Sequencing (mNGS) testing program by the College of American Pathologists (CAP).

VISION MEDICALS has established in-depth industry-academia-research collaborations with top-tier clinical institutions, including the Chinese Academy of Medical Sciences, Peking Union Medical College Hospital, the PLA General Hospital, Shanghai Ruijin Hospital, Wuhan Tongji Hospital, the First Affiliated Hospital of Sun Yat-sen University, the First Affiliated Hospital of Zhejiang University School of Medicine, Shanghai Children’s Medical Center, and Fudan University Children’s Hospital, to conduct translational medical research and co-develop metagenomic platforms. Meanwhile, the company actively participates in multiple National 14th Five-Year Key R&D Programs and the formulation of industry standards, and has joined forces with renowned multidisciplinary experts to establish the Chinese Alliance for Pathogenic Metagenomic Interpretation, promoting the standardized application of this technology.

As a national-level high-tech enterprise, VISION MEDICALS has been recognized as a “Specialized, Refined, Differential, and Innovative” (SRDI) enterprise, a Chinese potential unicorn enterprise, and one of the Top 50 New Economy Pioneer Enterprises in the Guangdong-Hong Kong-Macao Greater Bay Area. It has also been listed among the China Future Healthcare Top 100 for five consecutive years. As a participating organization, VISION MEDICALS was awarded the First Prize of the Chinese Preventive Medicine Association Science and Technology Award in 2023. Furthermore, in the 2023 National Science and Technology Awards recently announced by the Ministry of Science and Technology, VISION MEDICALS received the Second Prize for Scientific and Technological Progress as a project participant.

With the support of this round of financing, VISION MEDICALS will further expand the application of cutting-edge molecular diagnostic technologies across various infectious disease scenarios. The company will prioritize product-focused R&D and center its services within hospitals, integrating sentinel surveillance for infection diagnosis with population-level testing. It aims to accelerate the localization of comprehensive pathogen metagenomic next-generation sequencing (mNGS) solutions within hospital settings, thereby continuously advancing the mNGS 2.0 era from the three dimensions of pathogens, drugs, and hosts.

“We are deeply aware that behind every precious sample is a patient in urgent need of treatment.” VISION MEDICALS will uphold long-termism, fulfill its corporate responsibilities and industry commitment to promote the sustainable and healthy development of the sector and to continuously advance the precision diagnosis and treatment of infectious diseases.

Kequan Fund was established in 2022. The fund was founded by the Local State-controlled Construction Group, with Nanjing Zhongyiren Investment serving as the fund manager. Its primary investment focus is on emerging industries encouraged for introduction by the local government, including but not limited to semiconductors, life and health, electronic information, and related sectors.

Tianxin Fund was established in 2023, initiated by Tianhuan Company of the Park Rongfa Group. It serves as a key instrument for the park to implement its “invest out, bring in” strategy, empowering local industrial development through a combination of financial and industrial investments, with a particular focus on emerging industries such as biopharmaceuticals and big data. The fund manager, Hongzhuo Capital, possesses dual-currency management experience in both RMB and USD, with cumulative assets under management reaching nearly RMB 20 billion. Its investment scope covers emerging industries including integrated circuits, artificial intelligence, and new energy.