MeLi Tech Secures Tens of Millions in Series A+ Funding to Accelerate Nanopore Sequencing Technology Development and Product Iteration

VCBeat recently learned that,Shenzhen MEILI Nanopore Technology Co., Ltd. (hereinafter referred to as “MEILI TECH”) has completed a Series A+ financing round amounting to tens of millions of yuan. This round was exclusively strategically invested by Autobio Diagnostics, and the funds will be primarily used to further advance the research and development of nanopore gene sequencing technology, accelerate the iteration of its product series, and promote commercial deployment.

MEILI TECH, founded in 2017, leverages nanopore technology to independently develop commercial gene sequencing instruments and supporting reagents that offer ultra-long reads, amplification-free operation, rapid processing, high accuracy, and low cost. The company aims to establish a closed-loop product ecosystem from sample preparation to report generation, providing precise and reliable diagnostic information for clinical applications. Prior to this round of financing, MEILI TECH had completed two previous funding rounds, with investors including Weiyu Tongjia, Tongfang Yiheng, and Maliang Capital.

The R&D team at MEILI TECH has worked together for over a decade. Composed of interdisciplinary PhDs from renowned universities both in China and abroad, the team covers specialties including molecular biology, microfluidic chips, electronic circuits, polymer materials science, and machine learning, and possesses extensive experience in research and development as well as management.

Since Oxford Nanopore Technology launched the world’s first commercial nanopore sequencer in 2014, nanopore sequencing technology has made substantial progress in both basic science and clinical research. As a third-generation sequencing technology, nanopore gene sequencing offers advantages such as greater flexibility in application scenarios, compact and portable instruments, lower cost per run, and shorter turnaround time.

The gene sequencing industry chain is divided into three segments: upstream, midstream, and downstream. The upstream segment comprises suppliers of gene sequencing instruments, consumables, and reagents, which provide sequencing platforms and solutions. The midstream segment consists of service providers, such as laboratories, research institutions, and sequencing service companies. These entities build large-scale sequencing platforms, offer sequencing services to other users, and develop gene sequencing-related applications. This segment features numerous sub-sectors and faces more intense competition than the upstream segment. The downstream segment includes end consumers of sequencing-related applications or services, represented by governments, pharmaceutical companies, hospitals, and the general population.

Currently, the mainstream products in the gene sequencing market are second-generation high-throughput sequencers, with major service providers including Illumina, Thermo Fisher Scientific, and MGI Tech. As a third-generation sequencing technology, nanopore sequencing has only been commercialized on a large scale globally by Oxford Nanopore Technologies. In China, very few companies are engaged in the development of related technologies, indicating a significant market gap and substantial growth potential. According to data released by BCC Research, the global upstream gene sequencing market was valued at USD 15.722 billion in 2021 and is projected to reach USD 37.721 billion by 2030, growing at a CAGR of 19.1%. In 2021, China’s upstream gene sequencing market was valued at USD 1.590 billion and is expected to grow at a CAGR of 21.6% to reach USD 4.235 billion by 2030.

MEILI TECH’s independently developed nanopore sequencer is closely aligned with clinical needs, offering the advantages of speed, low cost, and high sensitivity. With its exceptionally high single-pore sequencing efficiency, it enables real-time sequence analysis, significantly reducing the cost per sequencing run (by more than 10-fold). Furthermore, its capability to sequence low-abundance nucleic acids substantially lowers the barrier to adoption, making it well-suited for applications requiring rapid analysis.

MEILI TECH has achieved phased results in reagents, instruments, and databases. In terms of reagents, MEILI TECH employs novel biological nanopores with independent intellectual property rights, has filed two international patents via the PCT route, and has completed pilot-scale validation of its third-generation chips, significantly reducing chip manufacturing costs.In terms of instrumentation, a prototype sequencer has been developed, along with supporting algorithms for noise reduction, neural network-based sequence output, and long-sequence pathogenic microorganism alignment. Empirical testing demonstrated a consensus sequence accuracy of 99.999% (Q50).In terms of databases, MEILI TECH has built a proprietary offline pathogen comparison database covering hundreds of common pathogenic microorganisms, enabling rapid and accurate local detection of pathogens and generating analysis reports. The online comparison database encompasses tens of thousands of microbial species, meeting the needs for more detailed pathogen analysis.

Dr. Zhou Zhi, CEO of MEILI TECHStatement: Gene sequencers are the infrastructure of precision medicine and the core technology of the gene industry. Guided by its corporate mission to “enable precise diagnosis for everyone,” MEILI TECH has dedicated over a decade to the research and development of nanopore sequencing technology. It remains committed to expanding the application scenarios of nanopore sequencing, lowering the barriers to adopting sequencing technologies, and improving the accessibility of precision diagnosis, thereby bringing precision medicine within reach of the general public. After six years of development, MEILI TECH has made significant technological advancements. Marking a major milestone, the company is honored to have gained recognition and strategic investment from Autobio Diagnostics. This partnership will greatly accelerate the industrialization of nanopore sequencers, facilitate product commercialization, and better serve clinical needs.

Mr. Zhang Ruifeng, Deputy General Manager and Strategy Director of Autobio DiagnosticsStatement: In recent years, third-generation gene sequencing technologies, represented by nanopore sequencers, have advanced rapidly. Their unique advantages—including high throughput, long read lengths, real-time monitoring, and low cost—not only enable rapid, comprehensive, and accurate genetic testing but also hold broad market application prospects in medicine, life sciences, biotechnology, and other fields. We highly recognize the Shenzhen-based MEILI TECH team for their meticulous and dedicated research in this field over many years, and we hope that MEILI’s nanopore sequencers will be widely adopted in clinical practice, thereby better supporting the high-quality development of China’s biomedical industry.

Autobio Diagnostics, founded in 1998, specializes in the research and development, manufacturing, integration, and servicing of in vitro diagnostic (IVD) reagents and instruments. Its product portfolio covers immunodiagnostics, microbiology, clinical chemistry, molecular diagnostics, coagulation, and other testing fields, providing comprehensive product solutions and integrated services for medical laboratories. The company was listed on the Shanghai Stock Exchange Main Board on September 1, 2016, becoming the first IVD R&D and manufacturing enterprise in China to be listed on this board. Autobio Diagnostics has maintained a strong growth momentum, consistently prioritizing technological innovation as its core strategy and placing significant emphasis on R&D investment; for many consecutive years, its R&D expenditure has accounted for more than 11% of its operating revenue. Adhering to its mission of “promoting and advancing medical laboratory technologies to serve human health,” Autobio Diagnostics drives high-quality corporate development through innovation, striving to become an IVD enterprise that deeply integrates advanced manufacturing with high-end services.