Suzhou Wanguiyuan Precision Technology Completes Nearly RMB 50 Million Series A+ Financing to Advance Global Expansion and Full-Process Microfluidic Chip CDMO Capabilities

VCBeat has learned exclusively that at the beginning of the new year, Suzhou Wanguiyuan Precision Technology Co., Ltd. (hereinafter referred to as “Wanguiyuan”) announced the completion of its Series A+ financing round, led bySuzhou Innovation Investment Group(hereinafter referred to as “Suzhou Venture Capital”), existing shareholdersSihai New MaterialsCo-investment. Wanguiyuan has also become the first sci-tech innovative enterprise in the life sciences sector invested by Suzhou Venture Capital Group in the Wujiang Economic and Technological Development Zone.Wang Mou, Party Secretary and Chairman of Suzhou Venture Capital Group; Li Wenbin, Member of the Standing Committee of the Wujiang District Committee of the Communist Party of China, Deputy Secretary of the Working Committee of the Communist Party of China in Wujiang Economic and Technological Development Zone, and Deputy Director of the Administrative CommitteeAttended the investment signing ceremony.

"This round of financing will primarily be used to enhance the full-process R&D and production service capabilities for microfluidic chip CDMO, construct a new R&D base, and accelerate Wanguiyuan's business expansion in the global market."

Since its establishment, Wanguiyuan has been committed to providing one-stop services for enterprises in the fields of in vitro diagnostics (IVD), medical devices, life sciences, and biopharmaceuticals, including core processes, equipment, and comprehensive solutions. As a total engineering solution provider, it specializes in offering full-spectrum OEM, ODM, CMO, and CDMO services to clients, covering chip design, molecular diagnostics and life science instruments, automation equipment, and consumables production.

The core team members possess over ten years of experience in the development of medical device automation, life science instruments, and microfluidic chips. They have established highly mature industrialization solutions for the manufacturing processes of medical devices and diagnostic chips. Through long-term service to leading domestic and international customers in the medical device and IVD sectors, they have accumulated a wealth of successful project implementation cases.

Image from the official website of Wanguiyuan

In recent years, domestically produced biochemical, immunological, hematology, and PCR microfluidic products have experienced rapid market growth. Meanwhile, microfluidics-based next-generation sequencing (NGS), single-molecule, single-cell, and liquid biopsy products continue to emerge, accelerating the advancement of precision medicine. In fact, with the continuous development of laboratory automation, various customized microfluidic (kit) products in the broad sense—characterized by high-precision fluid control—have become an essential foundational infrastructure for the entire in vitro diagnostics (IVD) and biopharmaceutical sectors. Microfluidic chips have thus become the “new infrastructure” of life sciences.

Although developed countries in Europe and America have decades of development history in the field of microfluidics, unified specifications and standards, such as interfaces and calibration methods, have not yet been established. This has resulted in most microfluidic chips on the market being customized products, lacking universality and interchangeability. Due to certain constraints on core technologies of microfluidic chips in China in the past, long-term reliance on imports has made us relatively weak in chip design, manufacturing, and other links.

Although domestic companies have been actively catching up in recent years, most microfluidics firms remain limited to specific or single aspects of the manufacturing process. Very few companies are capable of providing fully automated production lines that cover the entire manufacturing workflow. Consequently, when Chinese medical enterprises face demands for customized microfluidic products—particularly non-standard, multi-dimensional customized solutions—it is often difficult to find professional suppliers in the market who can offer end-to-end services.

As one of the earliest enterprises to enter the microfluidics industry in China, Wanguiyuan has risen to the challenge by overcoming key technological and industrial manufacturing barriers, thereby achieving true mass production of microfluidic chips. By providing one-stop services for microfluidic chips, the company ensures that large-scale production is no longer constrained by critical bottlenecks.

In June 2023, Wanguiyuan announced the completion of its production base for biological chip consumables, with an annual output of microfluidic chip consumables reaching up to 100 million units. This milestone achievement not only marks China’s success in breaking foreign technological monopolies in the mass production of microfluidic chips, but also signifies a new level in independent research and development as well as manufacturing capabilities in this field, realizing a significant transition from “being constrained by others” to “self-reliance and controllability.”

Amidst the global wave, Wanguiyuan has set sail on its overseas expansion journey. The company has successively made appearances at MEDICAL JAPAN OSAKA and MEDLAB MIDDLE EAST, establishing solid partnerships with multiple overseas enterprises to jointly explore international markets.

Zhang Cangmin, Founder of Wanguiyuanstated: “We extend our gratitude to Suzhou Venture Capital, the lead investor in this round, and to our existing shareholder, Sihai New Materials, for their trust and support. In 2023, the company achieved breakthrough growth, solidified its one-stop solution capabilities, and earned the trust and collaboration of major clients. To date, the company has become a core partner for numerous listed companies and those preparing for initial public offerings. We will continue to increase R&D investment, working alongside downstream IVD customers and research institutions to advance the application and industrialization of microfluidics technology in IVD and other life science fields, thereby reducing healthcare costs and contributing to the prevention and control of epidemic diseases as well as strengthening primary healthcare security.””

Suzhou Venture Capital Investment TeamIt stated: “Suzhou Wanguiyuan Precision Technology Co., Ltd. has accumulated substantial expertise in microfluidic in vitro diagnostic (IVD) manufacturing processes. Currently, domestic IVD manufacturers are aggressively deploying microfluidic diagnostic technology platforms, leading to an explosive surge in market demand. With established capabilities in R&D-to-production transfer, automated process engineering, and equipment manufacturing, Wanguiyuan has formed a comprehensive CDMO service chain and is poised for rapid growth.”

Suzhou Innovation Investment Group was established through the integration of Suzhou Guofa Venture Capital, Suzhou Sci-Tech Innovation Investment, Suzhou Industrial Investment Group, Suzhou Angel Fund of Funds, Suzhou Fund, and Suzhou Industrial Technology Research Institute, with a registered capital of RMB 18 billion. Aligning with Suzhou’s strategy for developing an innovative city, Suzhou Innovation Investment Group is committed to building industrial innovation clusters in the digital economy era. Supported by full-cycle technology investment operations, it leverages the leading and driving role of state-owned financial capital to refine and strengthen the city-wide innovation capital network, promoting deep integration between industrial chains and innovation chains. Through market-oriented, professional, and branded operations, the Group aims to establish a first-class domestic innovation investment platform and strive to make Suzhou the preferred destination for venture capital.