Quanwei Tech Secures Tens of Millions RMB in Angel Funding to Advance Domestic Production of High-End Magnetic Beads

VCBeat has learned at the earliest opportunity,Hangzhou QUAN V Technology Co., Ltd. (hereinafter referred to as “QUAN V”)Recently announced the completion of a financing round led byTigerYeah CapitalLead Investor,Springhill PeakParticipated in a tens-of-millions-RMB angel round of financing,Springhill CapitalServed as the exclusive financial advisor. The funds raised in this round will be primarily used to expand the company’s product portfolio of underlying magnetic beads and materials for bio-processing, accelerate commercialization, and develop supporting solutions for various application scenarios.

Over the past two decades, with the continuous development of the biotechnology industry, numerous emerging biotechnologies have emerged. The underlying processes of these technologies all require the handling of nucleic acids, proteins, cells, and other biological materials. Among these, magnetic beads can process different biological samples through various surface modification methods, particularly in the separation step.

However, from nucleic acid extraction to chemiluminescence and then to cell processing, the requirements for magnetic bead performance have seen a leapfrog improvement, especially in:

1) Cell Activation Scenario:Requires high transfection efficiency while maintaining cell viability; in 2021, Thermo Fisher’s global revenue from cell activation magnetic beads was approximately RMB 3 billion, with projected revenue in China reaching RMB 2.25 billion by 2026.

2) Cell sorting scenario:Magnetic beads are required to enable high-purity target isolation while maintaining cell viability; Miltenyi’s magnetic separation beads generated global revenue of RMB 2.2 billion in 2021, with revenue in China projected to reach RMB 1.35 billion by 2026.

3) Chemiluminescence Detection Scenarios:It requires magnetic beads with excellent dispersion and highly uniform particle size to achieve precise quantitative analysis.

It is evident that in high-end bio-processing applications, overseas giants command nearly the entire market share. The underlying reason for this dominance is the inability of domestic manufacturers to independently synthesize high-performance bare magnetic beads.

In response to the bottleneck status of bare magnetic beads and their applications in high-end biological processing, domestic magnetic bead manufacturers need to achieve localization from the source by mastering independent synthesis technologies for bare beads. This will enable them to gradually penetrate the high-performance magnetic bead markets for cell processing and chemiluminescence, thereby realizing import substitution.

QUAN V was established in 2023 and completed the construction of its R&D center and GMP-grade testing center in Changping, Beijing, in 2024. The company has mastered the proprietary synthesis technology for high-end bare magnetic beads, achieving full localization of magnetic beads from the source. By implementing tailored modifications and surface functionalization for diverse application scenarios, QUAN V addresses the critical bottleneck of bare bead supply in rapidly growing biotechnology sectors such as cell processing and chemiluminescence, leveraging this capability to provide a series of comprehensive solutions. With end-to-end technological control spanning from bare bead synthesis to surface chemistry, the company delivers superior product performance and enhanced cost efficiency.

The company has developed cell activation magnetic beads and cell sorting magnetic beads in the field of cell processing. These products have passed testing by leading biopharmaceutical companies and top-tier biopharmaceutical CDMOs, achieving performance comparable to imported products and earning recognition from core customers. Meanwhile, the company’s bare magnetic beads for chemiluminescence applications have achieved certain commercial progress, and it is gradually developing a series of customized microspheres to meet the surging demand in emerging downstream biomanufacturing processes.

Dr. Gan Wupeng, founder of QUAN V, has accumulated nearly 20 years of experience in the fields of underlying materials, surface chemistry, microfluidics, and intelligent manufacturing of instruments, with practical expertise in biological processing materials for in vitro diagnostics (IVD) and cell and gene therapy (CGT) enterprises. The core team members possess highly interdisciplinary capabilities, spanning microsphere and microfluidics R&D, cell testing, commercialization of cell-related consumables, and integrated instrument systems, while also demonstrating acute insight and vision grounded in real-world application scenarios.

Over the next decade, emerging applications such as synthetic biology will drive rapid growth in the bio-manufacturing sector, leading to sustained demand for magnetic beads and bare beads as critical foundational raw materials. Leveraging its core competencies in materials science, surface chemistry, microfluidics, and intelligent instrument manufacturing, QUAN V will continuously innovate by launching bioprocessing products with independent international intellectual property rights, thereby supporting the development of the bio-manufacturing industry.

AboutThis round of financing,Dr. Gan Wupeng, Founder of QUAN VStatement: In the face of an extremely challenging overall market environment, QUAN V has successfully secured financing. We first extend our heartfelt gratitude to investors and professionals across various fields for their continued support and recognition, which have given us full confidence to develop into a leader in the domestic substitution of critical foundational materials that currently bottleneck the life sciences sector. Leveraging this round of financing, QUAN V will further strengthen R&D of core technologies, expand and enrich its product portfolio of magnetic beads and materials for bioprocessing—particularly in the fields of cell and gene therapy, chemiluminescence, and IVD cell detection—as well as accelerate commercialization and develop supporting solutions for diverse application scenarios. This will enable us to meet rapidly growing customer demands and achieve mutual growth and win-win outcomes with our clients. Starting in the second quarter of this year, QUAN V will sequentially launch several heavyweight integrated product solutions, leading the domestic substitution of critical foundational bioprocessing materials that bottleneck the biomanufacturing industry. This initiative will genuinely help downstream life science users reduce costs and increase efficiency, thereby making tangible contributions to public health.

Dr. Ji Tianrong, Founding Partner of TigerYeah CapitalStatement: The team at QUAN V boasts over two decades of interdisciplinary R&D experience and has established an independent synthesis platform for high-end bare magnetic beads. This achievement addresses the critical bottleneck in achieving full domestic production of magnetic beads at the source. The company’s cell processing product series has been validated by leading industry clients, with performance on par with international manufacturers, thereby providing Chinese cell therapy enterprises with a new alternative. As the emerging bio-manufacturing industry flourishes, demand for upstream biological processing tools is expected to grow increasingly robust. We look forward to QUAN V’s continuous innovation in serving more customers across China and around the globe.

Zhang Junqi, Partner at Springhill CapitalOver the past decade or so, foundational core technologies in life sciences—such as gene editing, cell line engineering, gene synthesis, and sequencing—have continuously advanced, driving substantial transformations in application-oriented fields in recent years. The biomanufacturing industry has attracted significant capital attention, further accelerating the commercialization of a series of emerging applications. Emerging biomanufacturing is poised to create a market worth hundreds of billions over the next ten years. From R&D to scaled-up production, the newly created markets driven by biotechnology fundamentally rely on the modification and screening of cells, strains, enzymes, viruses, and other biological entities. These processes invariably require foundational generic materials and tools. Consequently, the next decade will witness the emergence of new markets for foundational materials and tools used in biological processing.

TigerYeah Capital, established in 2014, is an independent venture capital firm under Tigermed. It focuses on equity investments in the healthcare sector at early and growth stages. Its management team boasts profound industry expertise, extensive industry resources, and rich investment experience. To date, it has completed investments totaling RMB 2 billion across more than 100 projects, with a portfolio covering medical devices, biopharmaceuticals, CROs, and health supplements. By empowering its portfolio companies, TigerYeah Capital creates value for the development of the healthcare industry in China and globally, contributing to public health.