Wuhan Tellgen Biosciences Secures Tens of Millions in Series B+ Funding Led by Chuchang Investment and Luojia Wutong

VCBeat has learned that Wuhan HealthCare Biotechnology Co., Ltd. (hereinafter referred to as “HealthCare Bio”) has recently completed a Series B+ financing round, raising tens of millions of RMB. This round was led by Chuchang Investment and Luojia Wutong, with Hubei High-Tech Investment Group participating as a follow-on investor. In previous funding rounds, HealthCare Bio’s investors included institutions such as Yisheng Capital and Sinopharm Capital.

Chen Gang, Founder and CEO of Wuhan HealthCare Biotechnology Co., Ltd., stated that this round of financing will be used to further solidify the company’s global leadership in its fluorescence in situ hybridization (FISH) technology analysis platform and accelerate the R&D of technological platforms in areas such as molecular diagnostics for hematologic malignancies.

Wuhan HealthCare Biotechnology Co., Ltd. was established in 2013 and is located in the Wuhan Optics Valley Biological City, a national biotechnology industry base. The company primarily focuses on molecular diagnostics for major diseases, committed to providing a comprehensive suite of rapid, automated, and intelligent fluorescence in situ hybridization (FISH) testing solutions.

Currently, it operates multiple technical platforms, including a rapid FISH technology platform and a PCR (mRNA) technology platform.

In the current era emphasizing precision medicine, molecular diagnostics are becoming increasingly important. Compared with PCR and NGS molecular diagnostic technologies, fluorescence in situ hybridization (FISH) offers irreplaceable advantages in detecting numerical and structural abnormalities of genes and chromosomes, including chromosomal aneuploidy, chromosomal structural aberrations, gene amplification, gene deletion, and gene rearrangement.

“Rapid FISH technology enables the widespread adoption of fluorescence in situ hybridization, the gold standard for pathological diagnosis, thereby providing clinicians with pathological information more efficiently,” said Chen Gang. Compared with conventional fluorescence in situ hybridization, which is time-consuming, Wuhan HealthCare Biotechnology Co., Ltd.’s rapid FISH technology accelerates report turnaround from the traditional 2–3 days to same-day availability. The company’s independently developed FastProbe® fluorescence in situ hybridization probes have overcome technical bottlenecks, successfully reducing the sample hybridization incubation time from 10–16 hours with conventional methods to under 2 hours.

Schematic Diagram of the Principle of HealthCare Biotechnology's Rapid FISH Technology

Wuhan HealthCare Biotechnology Co., Ltd. is not merely shortening diagnostic turnaround time through technological advancements alone. Traditionally, clinical procedures have relied heavily on manual operations by physicians, demanding a high level of technical proficiency and increasing labor costs due to the need for manual interpretation. These challenges have hindered the optimal development of FISH technology platforms in some hospitals. To address this, Wuhan HealthCare Biotechnology has invested in the development of fully automated testing equipment, aiming to achieve rapid, standardized, and automated detection, thereby lowering the technical barriers and complexity of use. Currently, the company is advancing the commercial deployment of two automated testing devices for solid tumors and hematologic malignancies, with market launch expected as early as the second half of this year.

In terms of intelligence, current platforms mostly rely on manual interpretation using fluorescence microscopes, which places high demands on physicians. Wuhan HealthCare Biotechnology Co., Ltd. plans to replace fluorescence microscopes with fully automated fluorescence microscopy scanning equipment, complemented by intelligent computer-aided diagnosis features, to help address the challenges physicians face in clinical practice.

In fields such as hematologic malignancies, Wuhan HealthCare Biotechnology Co., Ltd. not only employs its rapid FISH technology platform to detect major targets but is also expanding its product portfolio to provide clinicians with a broader range of offerings. In the diagnosis and treatment of hematologic malignancies, genetic testing for patients is often required; furthermore, in areas such as prognostic assessment, disease markers are typically needed to evaluate recovery outcomes. These clinical needs have driven Wuhan HealthCare Biotechnology to continuously launch various products. The company has introduced approximately 160 products across areas including early cancer screening, companion diagnostics, prognostic diagnostics, and prognostic monitoring. It is also steadily increasing its pipeline of products under development and expanding into entirely new product lines in response to clinical demands.

In the recent past, Wuhan HealthCare Biotechnology Co., Ltd. has also secured several major partnerships. For instance, it collaborated with the Pathology Branch of the China Association of Medical Equipment to establish a training base—the only FISH technology training base authorized by this branch—to promote the clinical application of molecular pathology in China. Within just two to three years, the company has formed collaborations with numerous top-tier tertiary hospitals, including Peking Union Medical College Hospital and Peking University Cancer Hospital. Its products have been exported to more than 20 countries in Europe and the United States, establishing a leading brand image for rapid fluorescence in situ hybridization (FISH) probes.

According to Chen Gang, founder of Wuhan HealthCare Biotechnology Co., Ltd., the ability to attract investor attention and successfully complete this round of financing is attributable to a multitude of factors.

In terms of its team, Wuhan HealthCare Biotechnology Co., Ltd. has established a multidisciplinary R&D team spanning clinical medicine, molecular biology, microfluidics, and mechanical automation. The company boasts a comprehensive workforce covering R&D, clinical registration, production, quality control, marketing, and academic promotion. Pragmatic and efficient, the team demonstrates strong execution capabilities, providing a solid foundation for the implementation and realization of the company’s strategic objectives.

In terms of molecular pathology platforms, the technological advantages of Wuhan HealthCare Biotechnology Co., Ltd., including rapid FISH technology, have established high entry barriers, enabling the company to maintain a leading position in the industry.

In terms of distribution channels, Wuhan HealthCare Biotechnology Co., Ltd. has established coverage across more than 300 leading Grade A tertiary hospitals in China and nearly 100 third-party independent clinical laboratories. Leveraging its unique technological and quality advantages, the company’s products are exported to over 20 countries worldwide, with several renowned overseas research institutes among its clientele.

In terms of brand recognition, since its product launch in 2018, Wuhan HealthCare Biotechnology Co., Ltd. has gained endorsement from clinical experts and leading hospitals. It was even rated as a high-quality supplier for three consecutive years by top-tier industry enterprises, further facilitating its brand expansion.

FISH Training Base

While the industry grapples with questions such as whether products can meet clinical needs and how new technologies can be translated into clinical applications, Wuhan HealthCare Biotechnology Co., Ltd. has provided answers through its actions: one of the criteria for project initiation is that the target must have clear diagnostic significance, and the product must meet clinical needs. Furthermore, the company remains committed to technological innovation, continuously raising the technical barriers to entry.

For instance, while ensuring the sensitivity and specificity of testing items, we adhere to technological innovation to shorten detection time, simplify testing complexity, and achieve automation. To better promote clinical adoption, Wuhan HealthCare Biotechnology Co., Ltd. also engages in academic promotion with clinicians regarding molecular targets for major diseases, helping physicians better understand and utilize our products, ultimately benefiting hospitals and patients.

Lin Geng, General Manager of Luojia Wutong, stated: “Among the numerous segments within the in vitro diagnostics (IVD) industry, molecular diagnostics is the fastest-growing subsector. The team at Wuhan HealthCare Biotechnology Co., Ltd has long been dedicated to FISH and fluorescent PCR molecular diagnostic technologies, accumulating significant technical advantages and channel resources. We believe that with the rapid penetration of demands for precision medicine and personalized medication, coupled with the maturation of automated FISH technology, Wuhan HealthCare Biotechnology is poised to become an internationally renowned leading brand in rapid fluorescence in situ hybridization (FISH) probes.”

Chuchang Investment stated, “Wuhan HealthCare Biotechnology Co., Ltd. is an innovative molecular diagnostics company with core technologies. Its main products have been adopted by nearly 390 Grade A tertiary hospitals and 90 third-party medical testing institutions across China, positioning it to potentially become a leading enterprise in its niche sector.”

Hubei High-Tech Investment Group stated, “The rapid FISH detection series developed and manufactured by HealthCare Biotechnology more effectively addresses clinical and pathological needs compared to traditional FISH detection products. Currently, existing probe products on the market involve cumbersome experimental procedures and prolonged reaction times. HealthCare Biotechnology’s independently developed rapid FISH technology employs patented techniques and an optimized hybridization workflow, combined with non-repetitive sequence probes, to achieve rapid hybridization for FISH testing. The diagnostic results are characterized by the absence of non-specific signals, precise localization, and low background noise, reducing the diagnosis time from two days to just a few hours and significantly improving detection efficiency. HealthCare Biotechnology’s products have earned a strong market reputation and widespread customer recognition.”

According to Wuhan HealthCare Biotechnology Co., Ltd.’s strategic plan, the company aims to achieve annual sales of RMB 200–300 million within the next two to three years. From a medium- to long-term perspective, it will continue to strengthen its offerings in precision medicine diagnostics for major diseases, including cancer screening, companion diagnostics, cancer diagnosis and prognosis assessment, as well as cardiovascular and cerebrovascular diseases. Leveraging multiple proprietary platforms, including its rapid FISH technology, the company intends to build a comprehensive product portfolio and drive rapid revenue growth.

Wuhan Chuchang Equity Investment Fund Management Co., Ltd., established in 2018, is a wholly-owned subsidiary of Chuchang Investment Group, specializing in equity investments in non-listed companies, with a registered capital of RMB 30 million. The Chuchang Tongtai Fund is the first fund launched by Chuchang Equity Investment Fund Management Co., Ltd., focusing on the healthcare sector, with key investments in innovative medical devices, biotechnology, and healthcare services.

Hubei Luojia Wutong Venture Capital Co., Ltd. (“Luojia Wutong”) is a comprehensive investment management firm co-founded in 2014 by distinguished Wuhan University alumni, including Chen Dongsheng, Lei Jun, Tian Yuan, Mao Zhenhua, Ai Luming, Yan Zhi, and Chen Zuotao. Luojia Wutong focuses on strategic emerging industries such as artificial intelligence, environmental protection and new energy, advanced manufacturing, new materials, healthcare, and next-generation information technology, with investments spanning all stages from Series A to Pre-IPO.

Hubei High-Tech Industry Investment Group Co., Ltd. (hereinafter referred to as "Hubei High-Tech Investment Group") is a provincial Class I investment and financing platform. Established in 2005, the Group is a wholly state-owned company jointly funded by the Provincial People's Government and the administrative committees of four high-tech zones, namely Xiangyang, Yichang, Huangshi, and Ezhou. In 2019, Hanjiang Holding was introduced as the controlling shareholder. The registered capital stands at RMB 1 billion, with total assets reaching RMB 10 billion. Its core businesses include equity investment, management of government guidance funds and fund-of-funds, technology finance, industrial investment, and innovation and entrepreneurship services. The Group actively manages funds that have invested in over 300 companies, among which more than 40 have successfully completed initial public offerings (IPOs) and over 50 have been listed on the National Equities Exchange and Quotations (NEEQ).