GeneVide Biotech Secures RMB 50 Million in Series Angel Funding to Advance Pathogen nPOCT Solutions
VCBeat has learned that Suzhou GeneVide Biotechnology Co., Ltd. (hereinafter referred to as “GeneVide”), an emerging enterprise specializing in on-site rapid nucleic acid testing for pathogens (“nPOCT”) with its innovative molecular enzyme cycling screening technology, has recently completed a RMB 50 million angel financing round. The round was led by Yansheng Venture Capital, with Qiming Venture Partners co-investing. The funds raised will be used to accelerate the development and registration of multiple core nPOCT products for various pathogens, and to further upgrade its innovative molecular enzyme cycling screening technology platform based on enzyme characterization methods.
The outbreak of the COVID-19 pandemic has led to rapid expansion of the market for nucleic acid testing (NAT) of pathogens. Currently, the mainstream approach involves centralized testing using quantitative polymerase chain reaction (qPCR) in specialized central laboratories. However, there is a growing international consensus on building a multi-layered epidemic prevention system featuring “early triage” and “timely response” by deploying decentralized NAT capabilities in downstream settings, such as primary healthcare institutions, customs ports, and even households. Nevertheless, these downstream scenarios are highly complex, requiring NAT products that simultaneously offer rapid speed, high accuracy, ease of use, and cost-effectiveness—each attribute being indispensable. This poses a significant challenge to existing technologies. Since the performance and characteristics of NAT systems are determined by the molecular enzymes involved, continuous innovation and optimization of molecular enzymes and their reaction systems will be the key technological driver enabling next-generation point-of-care testing (nPOCT) products to truly meet the demands of downstream scenarios.
Founded in June 2021, GENEVIDE completed its merger and restructuring with Suzhou Dianjing Biotechnology Co., Ltd. in July of the same year. The founding and core team members graduated from prestigious domestic and international institutions, including Tsinghua University, the Chinese Academy of Sciences, the National University of Singapore, Pennsylvania State University (PSU), and the University of California, Los Angeles (UCLA). They possess over a decade of entrepreneurial and professional experience in the biotechnology and healthcare industries, particularly in the fields of molecular enzymes and molecular diagnostics. GENEVIDE has established an innovative cyclic screening system for molecular enzymes based on enzyme characterization methods, and leveraging this platform, has developed Enzymes-mediated Duplex Exponential Amplification (EmDEA) technology with independent intellectual property rights.TM) nPOCT technology platform. EmDEATMThe platform seamlessly integrates exponential nucleic acid amplification and exponential signal amplification into a single-tube reaction, enabling stable detection of target nucleic acids at the single-copy level under isothermal conditions within 20 minutes. With its simple operation and stable storage at 4°C, it holds significant potential for deployment in grassroots healthcare settings. Based on EmDEATMLeveraging its platform, GENEVIDE has established multiple R&D pipelines for nPOCT products targeting respiratory and genital tract pathogens. Meanwhile, it has built a research and development center, an enzyme raw material production center, and a GMP-compliant manufacturing center for Class III in vitro diagnostic (IVD) medical devices, covering over 4,000 square meters, to accelerate the registration and approval of its core products.
Dr. Li Qiushi, Co-founder and CEO of GENEVIDE, stated, “We sincerely thank both new and existing investors for their strong recognition and steadfast support of GENEVIDE. The outbreak of the COVID-19 pandemic has underscored the importance of nucleic acid point-of-care testing (nPOCT) for pathogens. Widely deploying nPOCT solutions that truly meet market needs in grassroots settings will enhance a multi-dimensional epidemic prevention system characterized by ‘early triage’ and ‘timely response,’ representing a major breakthrough with significant implications for national welfare and people’s livelihoods. Upholding the spirit of ‘efficiency, authenticity, pragmatism, and alignment,’ the GENEVIDE team will continue to strengthen the technological advantages of its innovative molecular enzyme cyclic screening platform and accelerate the development of nPOCT products. Our goal is to promptly address the challenge of extending nucleic acid testing to the ‘last mile’ during major epidemic control efforts, thereby making nucleic acid testing truly accessible.”
Dr. Lin Yi, Managing Partner of OrbiMed Asia Partners, stated: “In China’s national COVID-19 prevention and control efforts, nucleic acid rapid testing methods oriented toward point-of-care testing (POCT) have begun to emerge in clinical practice to meet practical needs such as rapid turnaround time and equipment portability. However, due to limitations in technological development, these methods have not yet achieved ideal performance. GENEVIDE has innovated at the foundational technology platform level, systematically addressing each pain point associated with primary care applications. This has enabled the creation of truly rapid, simple, and highly accurate nucleic acid testing products for primary care settings, representing a breakthrough in the development of grassroots nucleic acid testing. As the lead investor in this funding round, OrbiMed Asia Partners highly recognizes the innovative and pioneering spirit of the GENEVIDE team. We look forward to the company’s products contributing to grassroots epidemic prevention and control at an early date, thereby advancing the development of China’s primary healthcare sector.”
Tang Yanmin, Investment Partner at Qiming Venture Partners, stated, “We are delighted to support GENEVIDE. The company has achieved innovative breakthroughs in molecular enzymes and the foundational technologies of molecular diagnostics, striving to meet clinical demands for rapid, accurate, simple, and cost-effective solutions. GENEVIDE has established multiple R&D pipelines for pathogenic microorganism molecular diagnostics, and we believe this will deliver significant long-term value to the healthcare industry.”
GENEVIDE (Suzhou Jingrui Biotechnology Co., Ltd.) is a biotech enterprise focused on the innovation and industrialization of point-of-care nucleic acid testing technologies. Guided by its mission to “make nucleic acid testing accessible to all,” and powered by its proprietary innovative molecular enzyme cycling screening platform based on enzyme characterization methods, the company has developed a molecular diagnostics technology platform with independent intellectual property rights. This platform combines rapidity, accuracy, simplicity, portability, and high accessibility, aiming to address the challenge of extending nucleic acid testing to the “last mile” during major epidemic prevention and control efforts. The company possesses full-chain research, development, and manufacturing capabilities, spanning from enzyme raw materials and enzyme systems to reagents and instruments.
YuanSheng Venture Capital is an investment firm focused on the early and growth stages of the healthcare sector. Headquartered in Suzhou BioBAY, it has a global reach. To date, YuanSheng has invested in over 140 outstanding companies in the life and health sectors, covering four key areas: novel drug development, medical devices, in vitro diagnostics and precision medicine, as well as healthcare services. The firm has achieved substantial investment returns, with 12 of its portfolio companies listed on capital markets such as the Hong Kong Stock Exchange and the STAR Market. YuanSheng Venture Capital has been repeatedly recognized as one of the Top 10 venture capital funds in China’s healthcare sector and as one of the most active healthcare investment institutions in China. Bringing together seasoned professional investors and a team of world-class scientific advisors, YuanSheng possesses extensive experience in entrepreneurship, venture capital, and corporate operations within the biopharmaceutical industry and beyond. Leveraging our professionalism, focus, and abundant industry resources, we are committed to becoming one of the most successful healthcare and pharmaceutical venture capital funds in China.
Qiming Venture Partners was established in 2006 and 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 (NYSE), NASDAQ, the Hong Kong Stock Exchange, the Taipei Exchange, the Shanghai Stock Exchange, and the 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.