MyGenostics Completes Nearly RMB 100 Million Series C Financing to Accelerate Molecular Diagnostics Solutions for Birth Defects and Oncology

VCBeat has recently learned that Beijing Mygenostics Co., Ltd. (hereinafter referred to as “Mygenostics”) has completed a Series C financing round of nearly RMB 100 million in recent days. This round was led by Fosun Pharma’s Fojian Growth Fund, with existing shareholder Tianhui Capital making its third additional investment. The funds raised will be used for the research and development of LDT-related products, the construction of a large-scale genetic database, and the establishment of clinical IVD product registration and marketing networks.

Beijing Mygenostics, established in 2012, is a national high-tech enterprise that integrates research and development, manufacturing, and sales to provide comprehensive solutions for high-throughput gene sequencing. Mygenostics leverages its independently developed intellectual property rights in “GenCap^TMCentered on “gene capture” technology and integrated with next-generation high-throughput sequencing, the company has developed more than 300 personalized gene capture products as laboratory-developed tests (LDTs) and in vitro diagnostic (IVD) reagents. These products are widely used in areas such as assisted diagnosis and screening of genetic diseases, tumor pharmacotherapy, and microbial identification, significantly enhancing clinical genetic testing and scientific research capabilities for diseases across various systems.

In the field of genetic disease diagnosis, the company has established a product and service network covering more than 500 hospitals across China through a decade of efforts. It provides precise diagnostic services to over 3,000 physicians and nearly 100,000 families with complex and rare diseases annually. Mygenostics has built a database of more than 300,000 genetic disease cases, laying a rich clinical data foundation for shifting the focus on birth defects from diagnosis to screening. By integrating its self-developed “Nuoyun” cloud platform, the company achieves systematic resource management, interactive information sharing, and in-depth data integration. Furthermore, by developing molecular diagnostic informatics systems and integrated laboratory equipment, it has significantly promoted the comprehensive application of intelligent molecular diagnostic laboratories.

To date, Mygenostics has successfully developed 111 patented technologies and software copyrights, participated in multiple major research projects under the Ministry of Science and Technology, established long-term and stable collaborative relationships with over 500 domestic and international universities, hospitals, and research institutions, and cumulatively co-authored 604 academic papers indexed in the Science Citation Index (SCI).

This round of financing will further solidify Mygenostics' leading position in the industry, providing strong support for the development of more high-throughput diagnostic products related to LDT and IVD, the expansion of marketing and sales teams, the enhancement of service systems, and the construction of cloud-based gene data and system platforms, thereby further strengthening the company's competitive edge.

Huang Lei, Investment Director of the Rehabilitation Growth FundIt is believed that the genetic disease testing sector represents a blue-ocean market with rigid demand valued at over RMB 10 billion, yet the penetration rate of such testing in China remains relatively low. In recent years, the continuous enrichment of testing products and the gradual increase in awareness have driven rapid industry growth. Beijing Mygenostics Co., Ltd. has been deeply engaged in the field of genetic disease testing for ten years and has emerged as the leader in this niche segment. Its technological accumulation, comprehensive product portfolio, and extensive channel coverage are all industry-leading. Furthermore, the company possesses the largest genetic disease case database in the industry, establishing a formidable competitive moat.

Yuan Angen, Founder and Chairman of Tianhui CapitalTianhui Capital stated that it fully recognizes Mygenostics’ R&D accumulation, industrial experience, refined management, and leading advantages, having completed three rounds of continuous investment. Mygenostics currently ranks first in China in terms of scale within the genetic testing industry for hereditary diseases. Due to the complexities involved in genetic testing for hereditary diseases, as well as bioinformatics analysis and clinical interpretation, there is a significant unmet clinical need. The market size is projected to exceed RMB 10 billion, with current penetration rates remaining relatively low but expected to rise rapidly in the future. Leveraging its proprietary core probe technology and based on its continuously accumulating extensive data resources from genetic testing for hereditary diseases, the company can continually update and iterate its products. In addition to providing precise diagnostic services for patients with hereditary diseases, Mygenostics aims to become a key strategic partner for innovative drug developers in this field. Drawing on its deep expertise and understanding of the precision medicine sector, and supported by its established healthcare industry ecosystem, Tianhui Capital will continue to provide professional post-investment value-added services in areas such as product R&D planning, upstream and downstream supply chain collaboration, introduction of marketing resources, team incentives and development, follow-on financing, and IPO planning, thereby facilitating Mygenostics’ sustained, healthy, and rapid growth.

Fosun Rehab Growth Fund is the first private equity fund launched by Fosun Pharma, focusing on growth-stage companies and dedicated to investing in innovative opportunities within the global healthcare industry. Adhering to the principles of value investment, the fund is committed to identifying and investing in high-quality healthcare enterprises worldwide, bridging Chinese momentum with global capital and portfolio companies to empower businesses and drive their success.

Tianhui Capital (i.e., Tianhui Hongyou & Tianhui Sumitomo Mitsui Investment) is a value investor and navigator deeply rooted in the healthcare industry. The company’s core team has 20 years of experience in investment management within the medical and health sectors. It adopts a “four-pronged” investment strategy characterized by specialization, early-stage focus, platform-based operations, and internationalization, with a focus on key areas such as precision medicine, high-end medical devices, innovative drugs, and novel therapeutic technologies. The company has systematically established a unique post-investment management system based on the “1+1+N” framework, including the “3+3” model and the “100-Day Navigation Support” program. Through professional post-investment value-added services, it accelerates the innovative transformation and leapfrog development of China’s healthcare industry and its portfolio companies.