Herbal Capital-Backed Cytek Biosciences, a Rising Star in Full-Spectrum Flow Cytometry, Files for Nasdaq IPO

Headquartered in California, USA, Cytek is a globally leading life sciences technology company that provides next-generation cell analysis tools with high resolution, high parameter count, and high sensitivity through its patented Full Spectrum Profiling™ (FSP) technology.

To achieve the goal of successfully curing diseases, it is necessary to gain a deep understanding of the billions of cells that constitute the human body and their functions.

Flow Cytometry (FCM) is an advanced technology for identifying cellular characteristics. It enables multidimensional characterization of individual cells within heterogeneous cell populations and has been widely applied in life sciences research. In recent years, with continuous technological advancements, its role in clinical diagnosis and treatment has become increasingly prominent, and its medical value is now coming to the fore.

In 1973, Becton, Dickinson and Company (BD) collaborated with Stanford University to develop and manufacture its first commercial flow cytometer, the FACS I. In the early 1980s, the earliest three-color flow cytometers emerged, gradually expanding the scope of applications for flow cytometry. By the mid-1990s, four-color flow cytometry was introduced, and flow cytometers gradually transitioned from research institutions into hospital central laboratories and clinical laboratory departments, becoming an integral part of modern clinical diagnostic instrumentation.

For years, multicolor flow cytometry has been regarded as the developmental trend in the field, yet the underlying technology has remained fundamentally unchanged. Traditional flow cytometry essentially relies on adding more optical filters and selecting additional lasers; however, due to limitations imposed by spectral overlap among filters, the development of multicolor panels has been highly challenging. Even the most advanced conventional flow cytometers are limited to analyzing up to 20 colors. In recent years, with advances in tumor immunotherapy and the diagnosis and treatment of hematologic disorders, there has been an urgent need for multicolor flow cytometry technologies capable of accurately detecting 20–50 color signals to enable complex cellular analyses.

Spectral flow cytometry has emerged and taken center stage.

Currently, Cytek, a portfolio company of Bencao Capital, is a leading brand in spectral flow cytometry. It is the only flow cytometer globally capable of analyzing over 40 colors in a single tube, making it the sole choice in the high-end multicolor flow cytometry field.

At the technical level, traditional flow cytometers employ dichroic mirrors and filter combinations to differentiate fluorescence across various wavelength bands. This approach results in a complex structure and low efficiency. Spectral overlap frequently occurs during multicolor detection, making simultaneous multi-component analysis difficult. Consequently, this severely limits the selection of fluorescent labels and dye emission peak combinations, representing a significant "pain point" of conventional technology.

To increase the number of multicolor signal acquisition channels and meet ever-growing user demands, Cytek has applied optical communication technology to flow cytometers, demonstrating significant advantages through cross-disciplinary innovation.

In simple terms, full-spectrum flow cytometers, represented by Cytek, employ CWDM technology for spectral dispersion and have upgraded from PMT-based detection to avalanche photodiode (APD) chip technology for photoelectric conversion.

By incorporating optical signal processing technologies from the field of optical communications, Cytek flow cytometers are capable of acquiring full-spectrum signals. Leveraging robust software algorithms for dimensionality reduction or clustering analysis of high-dimensional data, this approach fundamentally eliminates compensation issues caused by fluorescence spectral overlap, enabling researchers to perform 20- to 50-color multiparametric analysis. Furthermore, the instrument features a simple structure, compact size, and low cost.

Cytek Aurora Full-Spectrum Flow Cytometer: The Leader in Breakthrough Traditional Multicolor Analysis

Cytek Precision Immunophenotyping: The World’s Only Platform Capable of 40-Color Analysis in a Single Tube:

● The Cytek Aurora system enables the world’s only 40-color full-spectrum flow cytometric analysis in a single tube, with research findings published in Cytometry A;

● Scientists use Cytek products for in-depth immunophenotypic profiling of major cell subsets in human peripheral blood, enabling accurate identification of CD4+ T cells, CD8+ T cells, regulatory T cells, NK cells, monocytes, and dendritic cells.

40-Color Scheme

By leveraging cross-disciplinary innovations in optical communication technology, combined with a groundbreaking product portfolio and forward-looking market strategy, Cytek has emerged as an industry “dark horse,” disrupting the existing market landscape. In 2020 alone, the number of applied research papers featuring its technology increased by more than 100.

Applications of Cytek Full-Spectrum Flow Cytometers

Cytek possesses a proprietary technology platform and continuously develops mid-to-high-end products, including multicolor flow cytometers such as the Aurora-5L, Aurora-3L, and Northern Lights; the Aurora CS multicolor cell sorter; and multicolor reagent panels.

In 2017, Cytek launched its flagship Aurora series of full-spectrum flow cytometers, featuring proprietary patented technology, which caused a sensation in the field of flow cytometry. Equipped with Cytek’s pioneering Full Spectrum Profiling™ (FSP™) technology, the Aurora system captures full-spectrum fluorescence signals excited by multiple lasers, easily distinguishing multiple fluorescent markers on individual cells. This significantly enhances the sensitivity of high-parameter cell analysis and breaks through the technical limitations of traditional flow cytometry. Configurable with up to five lasers, three scatter light detectors, and 64 fluorescence detection channels, the system achieves simultaneous acquisition of high-dimensional signals for 40 colors or more for the first time. This provides a comprehensive view for phenotypic data collection, overcomes the limitations of fluorophore combinations, expands detection capacity, simplifies experimental design, and delivers an improved user experience. Since then, flow cytometric analysis has entered the “high-dimensional era,” confidently meeting the challenges posed by user demands.

Cytek has actively pursued innovation in product development, launching another flagship product—the Aurora CS full-spectrum cell sorter—at the CYTO conference on June 7, 2021. Built on the same FSP™ technology, the Aurora CS employs unique optical design and analysis methods to enhance operational flexibility, enabling up to 64-level hierarchical gating for sorting. It supports six sorting modes in 1.5 mL collection tubes and four sorting modes in 5 mL collection tubes. The upgraded spectral unmixing system of the Aurora CS further expands the range of compatible fluorescent dyes and eliminates the need for instrument reconfiguration for each application, thereby facilitating complex experiments while ensuring a smooth user experience. Its advanced optical system and low-noise electronics deliver ultra-sensitive and high-resolution cell analysis, effortlessly identifying cell populations with high autofluorescence or low expression levels of key biomarkers.

Currently, the Cytek Aurora series offers a more convenient and cost-effective solution for users with 1–28 color detection needs, while Cytek flow cytometers remain the sole choice for those requiring detection of more than 30 colors. While delivering exceptional flow cytometers to the market and its users, Cytek remains committed to independently developing reagent panels with superior compatibility. Recently, Cytek launched the cFluor™ reagent series, which features unique spectral characteristics and provides comprehensive biomarker labeling, enabling deep subpopulation analysis of human immune cells and significantly advancing research protocols. By offering a full-system solution that integrates instruments, reagents, and software algorithms, Cytek has established a complete, closed-loop product line that enhances user experience and strengthens customer loyalty.

Cytek cFluor™ Immunoprofiling Kit

Headquartered in Silicon Valley, USA, Cytek Biosciences is dedicated to the development of innovative flow cytometry technologies, providing solutions for life science research and clinical diagnosis and treatment. In 2015, Cytek established its Shanghai branch, Shanghai Xiatai, and set up a production base in Wuxi, with sufficient capacity to meet the demands of customers worldwide.

As an emerging technology leader and a new-generation industry player with R&D expertise in spectral flow cytometry, Cytek has achieved annual revenues of nearly $100 million, establishing itself as the leading enterprise in the spectral flow cytometry sector.

In recent years, the clinical market size for flow cytometers has been expanding rapidly, showing a trend of surpassing the research sector. Cytek has long since initiated its strategic layout. Based on the distribution of flow cytometry users in China, 58% are from research institutions, while hospitals account for the second-largest share at 36.45%. In contrast to conservative strategies that focus solely on the research market, Cytek has adopted a dual-pronged approach targeting both research and clinical sectors. This strategy has allowed Cytek to seize valuable first-mover advantage in tapping into the growing clinical market, with the aim of covering the majority of the clinical market within the next few years.

Currently, a series of Cytek’s products have been successfully approved by the China Food and Drug Administration (CFDA): the Northern Lights spectral flow cytometer has obtained the Class II medical device certification in China, and its corresponding reagents for immune cell subset profiling have received the Class I in vitro diagnostic reagent certification, thereby entering the Chinese clinical market.

In just six years from its founding to its impending IPO, Cytek has achieved remarkable growth. Looking ahead, we are confident that Cytek will illuminate the torch of scientific research and reshape the market landscape during the golden age of booming life sciences, striving to win one marathon after another in the fight against disease for the sake of human health.

Cytek Biosciences, Inc., a globally leading life sciences technology company, provides next-generation cell analysis tools featuring high resolution, high parameter capacity, and high sensitivity through its patented Full Spectrum Profiling™ (FSP) technology. Cytek’s innovative technology enables higher-level, highly sensitive multiparametric detection by capturing the complete spectral information of fluorescent signals. The Cytek FSP platform encompasses its core instruments—the Aurora and Northern Lights analysis systems and the Aurora CS cell sorting system—as well as reagents, software, and services, delivering comprehensive and end-to-end solutions to customers. Headquartered in Fremont, California, USA, Cytek maintains subsidiaries and distribution channels worldwide.

Bencao Capital is a specialized investment fund dedicated to investing in globally leading life sciences and healthcare companies, with a focus on two key areas: innovative pharmaceuticals and cross-disciplinary innovations in medical devices and diagnostic technologies. The core founding team members all hold PhDs in biomedical-related fields from overseas institutions, bringing years of practical experience in the pharmaceutical and biotechnology industries, as well as over a decade of successful investment and entrepreneurial experience both domestically and internationally. They combine professional expertise, industry insight, and a global perspective.
Bencao Capital is a dual-currency fund manager operating in both RMB and USD. It has cumulatively invested in and incubated over 60 domestic and international medical innovation enterprises, with offices in Beijing, Shanghai, and Silicon Valley. Upholding the vision of “building great healthcare companies and establishing an internationally recognized professional investment brand,” Bencao Capital empowers outstanding entrepreneurial teams and delivers superior returns to its investors.