GenoSens Completes Series B+ Financing to Accelerate Commercialization of Fourth-Generation Nanopore Sequencer

VCBeat has learned at the earliest opportunity,Geneus Technologies (hereinafter referred to as "Geneus Technologies")Announces the completion of a financing round led byGF XindeandWanyuan Point FundJointly InvestedSeries B+Financing. The funds raised will be used to achieve mass production of the Gseq500 mid-throughput nanopore gene sequencer.

Geneus Technologies, established in 2017, is dedicated to developing and commercializing fully automated end-to-end sequencing solutions based on fourth-generation (nanopore) gene sequencers, with the ambition of becoming a driving force for the widespread clinical application of gene sequencing. Leveraging its nanopore sequencers and supporting end-to-end solutions developed along the “sequencing by synthesis” technological route, the company addresses key pain points such as high costs, operational complexity, low efficiency, and suboptimal data quality in gene sequencing. In doing so, it strives to realize its corporate vision: “to make gene sequencing a routine tool in precision medicine and improve human health.”

In December 2022, the company released the alpha prototype of its first mid-throughput nanopore gene sequencer, the Gseq500. It plans to complete mass-production preparations, including beta testing and the establishment of a production base, in the first half of 2023, and to achieve mass production and sales in the second half, thereby entering the commercialization phase.

Leveraging its profound technological accumulation and keen market insights, Geneus Technologies expects to complete the R&D and industrialization of its high-throughput sequencer, Gseq10K, in 2024. This advancement aims to address challenges related to cost, data quality, efficiency, and applicability in the sequencing process, achieving full-process automation from nucleic acid extraction to bioinformatics analysis, thereby providing the gene sequencing industry with a comprehensive, convenient, and rapid sequencing solution.

Guided by its mission to “provide gene sequencing solutions with lower costs, higher quality, and greater efficiency,” Geneus Technologies has shone brightly at various key moments in recent years. It has successively receivedExcellence Award at the Finals of China Innovation and Entrepreneurship Competition, First Prize at the Precision Medicine Innovation and Entrepreneurship Competition, First Prize at the Digital China Entrepreneurship Competitionetc., especially in 2022, when the company was once again honored to be listed on“Top 10 Winners of the 2022 Qipu Seed Award for In Vitro Diagnostics”, this award is a professional recognition of the achievements of health projects in commercialization.

Honorary Trophy: 2022 In Vitro Diagnostics Qipu Seed Award Top 10

Professor Jiang Dang, Founding Partner of Wanyuan Dian Fund“The advent of gene sequencing technology has played a revolutionary role in the development of life sciences and medicine. Since the era of Sanger sequencing, relentless efforts have been made to achieve high accuracy, high throughput, long read lengths, and low costs, resulting in a continuous stream of innovations and breakthroughs. In particular, nanopore sequencing technology is regarded as one of the most promising approaches to meet these gold standards. Globally, there are as many as 8,800 related patent applications, with technological development showing a linear growth trend. Currently, core patents for nanopore sequencing are primarily held by the United States, the United Kingdom, and China. Leveraging its technological advantages and immense market potential, China is best positioned to lead globally in this field. Geneus Technologies is a leading domestic developer and manufacturer of nanopore sequencers and配套 sequencing chips. Its unique underlying sequencing principle enables true single-base signal reading, thereby achieving higher sequencing accuracy. The design of its ultra-high-throughput sequencing chips ensures more competitive sequencing costs. We are highly optimistic about the market competitiveness and broad application prospects of Geneus Technologies’ nanopore sequencing platform in the long-read sequencing sector, both in China and globally. We look forward to leveraging Dian Diagnostics’ industrial resources to support Geneus Technologies in achieving healthier and more rapid future development.”

Dr. Li Chen, GF XindeGF Xinde stated: “GF Xinde has consistently monitored and actively invested in gene sequencing technologies and related upstream and downstream enterprises. Geneus Technologies adopts a protein nanopore technology platform based on sequencing-by-synthesis, which offers advantages such as long read lengths, high throughput, high-quality sequencing data, and simplified library preparation. This technology holds potential for applications in whole-genome sequencing, full-length transcriptome sequencing, single-cell sequencing, metagenomic sequencing, targeted sequencing (including complex regions and paralogous regions), and methylation sequencing. We look forward to Geneus Technologies’ protein nanopore sequencer becoming a critical foundation for next-generation life sciences R&D and clinical applications.”

GF Xinde Investment Management Co., Ltd. was established in December 2008 as a wholly-owned private equity fund subsidiary of GF Securities Co., Ltd. (Stock Code: 000776), ranking among the top broker-affiliated private equity fund subsidiaries in China. Leveraging its superior fund management capabilities, excellent investment research expertise, comprehensive project management skills, and rigorous and pragmatic compliance and risk control measures, GF Xinde has become a preferred asset allocation choice for many high-quality investors. Upholding the values of vision, integrity, and collaboration, the company identifies high-quality projects through in-depth industry research. Meanwhile, by relying on the comprehensive advantages of the GF Securities Financial Group and its own strategic management capabilities, GF Xinde provides all-around value-added services to portfolio companies, enhancing their investment value and generating greater returns for investors, thereby achieving a win-win outcome for the company, investors, and portfolio companies. GF Xinde has consistently ranked among the top three in Zero2IPO’s rankings of broker-affiliated private equity fund managers. Currently, the funds raised and managed by the company span multiple sectors, including healthcare, consumption upgrading, industrial innovation and upgrading, and TMT, covering various investment categories such as private equity (PE), venture capital (VC), and mergers and acquisitions (M&A).

Hangzhou Wanyuandian Private Equity Fund Management Co., Ltd. is a private equity fund platform initiated and established under the leadership of Dian Diagnostics (Stock Code: 300244). It completed its registration with the Asset Management Association of China in December 2021 (Registration No.: P1072905). Wanyuandian Fund focuses on high-growth investment opportunities in the healthcare industry, with a strategic emphasis on investments across the entire In Vitro Diagnostics (IVD) value chain.