One-Chip Biotech Secures RMB 150 Million in Series B+ Funding to Propel Molecular Diagnostics into the 'Chip' Era

VCBeat has learned that WanZhong YiXin, a startup in the field of bio-microelectronics, recently announced the completion of its RMB 150 million Series B+ financing round.Qiming Venture Partners led this funding round, with participation from Zhangjiagang Phoenix Technology and C&D Emerging Investment. Existing shareholders Matrix Partners China and Desheng Fund continued to follow on.The financing is primarily allocated to the R&D, clinical certification, manufacturing, sales and operations, and facility construction of its products.

Zhangjiagang one-chip Bio-technology Co.,Ltd. focuses on the R&D, manufacturing, and sales of semiconductor biochips, microfluidic lab-on-a-chip devices, supporting instruments, and molecular detection reagents. Its current mainstream products include compact gene sequencers, portable nucleic acid detectors, and compatible reagent cartridges.Recently, Zhangjiagang one-chip Bio-technology Co.,Ltd. also launched a portable all-in-one nucleic acid testing kit for COVID-19. The company is currently collaborating with West China Hospital to conduct clinical trials and pursue regulatory approval.

Mr. Hu Xubo, Managing Partner at Qiming Venture Partners, the lead investor in this round, stated“Gene sequencing technology is one of the cornerstones of precision medicine. There are still many unmet needs in existing gene sequencing technologies and products regarding clinical application, convenience, and cost. Professor Hu Wenchuang founded and leads the team at Zhangjiagang One-Chip Bio-technology Co., Ltd., which leverages its proprietary semiconductor and microfluidic technologies to develop next-generation gene sequencers and supporting equipment. We will actively participate in this endeavor, supporting the team in realizing their vision and creating value for more patients.”

Dr. Yu Zhiyun, Partner at Matrix Partners China, a co-investor in this round and an existing shareholderIndicates“Over the past year, the company has made significant progress in sequencing devices that leverage advanced semiconductor technology to eliminate optical pathways. Meanwhile, it has successfully developed a disposable home-use nucleic acid test kit for COVID-19 detection, which is user-friendly, affordably priced, and delivers accuracy comparable to traditional nucleic acid testing. We hope the company will continue its efforts and achieve smooth commercialization.”

Mr. Wang Jun, Managing Partner of Desheng Capital and a participant in this round of co-investment, stated“We began investing in OneChip Bio in 2017 and have participated in three consecutive funding rounds. As the investment period of New Tonde Fund has concluded, Desheng Capital has continued to follow on with further investment, demonstrating our steadfast support and strong confidence in Professor Hu and the OneChip Bio team. This conviction stems from our journey together—from the early-stage breakthroughs in platform technology R&D, through the engineering and mass production of products, to the imminent market fruition we are witnessing today. As a semiconductor expert, Professor Hu has led his team to cross over into the field of molecular diagnostics, driving the integration of medicine and engineering through the transition from optics to electronics, and consistently pursuing disruptive innovation. In the future, we will continue to stand by Professor Hu and his team, witnessing how this cross-disciplinary innovation brings convenient and efficient rapid molecular diagnostic platforms to the general public, thereby benefiting humanity.”

Why Does Capital Favor Zhangjiagang One-Chip? The Core Reason May Be Its R&D Capabilities.

From the team perspective, VCBeat has learned that Dr. Hu Wenchuang, founder of Zhangjiagang one-chip Bio-technology Co.,Ltd., graduated from Peking University and earned his Ph.D. in Molecular Electronics from the University of Notre Dame in the United States. He possesses over two decades of interdisciplinary study and R&D experience spanning semiconductors, nanotechnology, and biosensing.The company currently has nearly 80 employees, with R&D personnel accounting for over 70%, and holds more than 110 intellectual property rights.

From a product perspective, unlike the current industry practice of driving down gene sequencing prices by continuously increasing sequencing throughput to amortize user costs,Zhangjiagang One-Chip is more committed to applying professional-grade, high-precision testing technologies to primary healthcare markets and home-based testing, dedicating itself to the development of accurate, portable, and cost-effective rapid molecular POCT products.

Guided by this philosophy, Zhangjiagang one-chip Bio-technology Co.,Ltd. has developed a semiconductor-based NGS gene sequencer leveraging CMOS chip technology, which completes the entire sequencing workflow in just five hours. Furthermore, by employing electronic sequencing methods that eliminate the need for optical systems and fluorescent reagents, the sequencer significantly reduces both sequencing costs and the barrier to entry for operation.Rapid, low-cost sequencing platforms are poised to overcome the current bottlenecks of high barriers and low penetration in gene sequencing, potentially advancing its application to clinical outpatient settings and community hospitals.

Moreover, the changing times are crucial to a company’s development. Companies that seize the opportunities of the era can thrive against the wind, while those that fail to do so will inevitably be “weeded out by the great waves.”

Following the outbreak of the global COVID-19 pandemic in 2020,Zhangjiagang one-chip Bio-technology Co.,Ltd. rapidly developed an all-in-one nucleic acid testing kit for COVID-19 suitable for home self-testing.This product integrates sample preparation, amplification, and detection into a test cartridge the size of a lighter, and has developed isothermal amplification reagents for SARS-CoV-2 in collaboration with West China Hospital.

In other words, “this test kit provides a dedicated PCR laboratory for each sample, containing potential cross-contamination and pathogen transmission risks within the sealed kit, thereby ensuring detection accuracy while preventing nucleic acid contamination.”

Through the invention of this self-driven microfluidic lab-on-a-chip technology, the test kit enables a minimalist operation of "one-press nucleic acid self-testing," delivering results within 30 minutes. It can be widely used for rapid nucleic acid screening in home testing, hospital outpatient departments, primary healthcare institutions, and public places.

Furthermore, this nucleic acid test kit, which features a microfluidic lab-on-a-chip at its core and incorporates isothermal amplification technology, can also be used for the detection of influenza A, influenza B, respiratory syncytial virus (RSV), and human papillomavirus (HPV), as well as African swine fever virus, avian influenza, canine distemper virus, parvovirus, and other infectious pathogens in pets.。Currently, the product is applying for a Class III registration certificate and is expected to be launched on the market soon.

Two years ago, in an interview with VCBeat, Dr. Hu Wenchuang, founder of Zhangjiagang One-Chip Bio-technology Co., Ltd., candidly stated that gene sequencing should not be confined to large tertiary hospitals; rather, the key to maximizing the value of precision medicine lies in implementing gene sequencing at the grassroots and community levels. “With the creation of social value as our starting point, our focus in future development will be on transforming technological capabilities into tangible products that deliver real value.”

Two years later, Zhangjiagang one-chip Bio-technology Co.,Ltd. launched portable and safe COVID-19 testing products suitable for scenarios such as home use and primary healthcare. What kind of products will Zhangjiagang one-chip Bio-technology Co.,Ltd. bring in the next two years, the next five years, and the next ten years?

Qiming Venture Partners, established in 2006, has successively set up offices in Shanghai, Beijing, Suzhou, Hong Kong, Seattle, Boston, and the San Francisco Bay Area. Currently, Qiming Venture Partners manages ten U.S. dollar funds and six RMB funds, with total assets under management reaching $6.2 billion. Since its inception, the firm has focused on investing in outstanding early-stage and growth-stage companies in sectors such as TMT and Healthcare. To date, Qiming Venture Partners has invested in more than 430 high-growth innovative enterprises, among which over 170 have achieved exits through listings on exchanges including the New York Stock Exchange, NASDAQ, Hong Kong Stock Exchange, Taipei Exchange, Shanghai Stock Exchange, and Shenzhen Stock Exchange, as well as through mergers and acquisitions. More than 40 of these portfolio companies have become industry-recognized unicorns and super unicorns.

Matrix Partners China was founded in 2008 and is a leading venture capital firm in the industry with a long-term focus on early-stage and early-growth investments. It specializes in investing in new technologies, hard tech, industrial digitalization, healthcare, frontier technologies, and new consumer sectors. To date, it has invested in more than 700 companies, including XPeng Motors, Li Auto, Futu Securities, Chehaoduo Group, Ele.me, Youzan, Ronbay Technology, XGIMI, Momo, PingCAP, Peijia Medical, Career International, Kemei Diagnostics, Beisen, LexinFintech, Zihai Guo, Chuanzhi Education, MetaX, Jian Ai, SemiDrive, Megarobo, Alchip Technologies, Xinhuazhang, Engene Bio, and Adimab.

Phoenix Technology serves as the primary operating entity for the Zhangjiagang Phoenix Technology Entrepreneurship Park. The Phoenix Science and Innovation Park is a national-level technology business incubator, a demonstration base for innovation and entrepreneurship among overseas Chinese in Jiangsu Province, and an innovation and entrepreneurship park for returned overseas students in Suzhou. The park has independently cultivated two recipients of the National Talent Program, 19 individuals or teams under Jiangsu Province’s “Mass Entrepreneurship and Innovation” Talent Program, and 39 Gusu Leading Talents in Suzhou. It has successively introduced a large number of high-caliber talent projects from both domestic and international sources, including One-Chip Bio-technology, Xiechang Electronics, Fumiao Technology, Matrix Optoelectronics, High仙 Robotics (Gaoxian Robotics), Xiruien Biology, Baobang Electric, Chengyi Semiconductor, and Liaoyuan Semiconductor.

Desheng Capital is composed of influential industry experts and seasoned fund managers, focusing on cutting-edge technologies and outstanding enterprises in the fields of high-end manufacturing and biopharmaceuticals. Rooted in Chengdu, the team leverages regional advantages to invest nationwide, with project selection benchmarked against international standards. The core team at Desheng Capital comprises individuals who are scholars, entrepreneurs, and investors, combining professional academic judgment with industrial thinking and enterprise management experience. The team has invested in over thirty projects, with current key investments including biopharmaceutical and technology companies such as Yuandong Biology, Guanxiang Technology, Huahao Zhongtian, Zhangjiagang One-Chip Bio-technology Co., Ltd., Yingmo Technology, Dekang Biology, Shexing Technology, Xijia Yunshan, Lixiang Jingjie, and Kaola Youran.

C&D Emerging Investment is a professional equity asset management institution under C&D Group, a “Fortune Global 500” company. Established in 2014, the company is committed to its mission of “pioneering new value and helping more emerging enterprises achieve better development,” with a strategic focus on new economy sectors such as healthcare, advanced manufacturing, and TMT/consumer industries.