Tencent-Led $30M Series C Funding Propels Vision Medicals to Accelerate Leadership in Infectious Disease Precision Medicine

VCBeat (WeChat ID: vcbeat) has learned that VISION MEDICALS, a leader in precision medicine for infectious diseases, recently announced the completion of its C-round financing totaling RMB 200 million. The round was led by Tencent, with participation from existing shareholders including CICC Capital, CDH Investments, and Guoke Jiahe. This marks VISION MEDICALS’ latest financing within six months following its RMB 200 million B-round completed in August 2020. The funds will continue to be directed toward strategic priorities such as product research and development, upgrades, medical device registration, strengthening medical brand marketing, and enhancing clinical services. iCapital served again as the exclusive financial advisor to VISION MEDICALS in this transaction.

VISION MEDICALS, founded in 2018, specializes in genomic technology innovation and precision medicine for infectious diseases. Targeting clinical departments such as ICU, Infectious Diseases, Respiratory Medicine, Pediatrics, and Neurology, the company has built an AI-driven diagnostic system for infectious diseases based on genomics, radiomics, and electronic medical records (EMR), providing comprehensive solutions for precise clinical diagnosis of infections. Headquartered at Guangzhou Huaxin Park, a national-level technology business incubator, VISION MEDICALS has established an R&D center, a medical laboratory, and a GMP-compliant production facility for in vitro diagnostic reagents, covering over 8,000 square meters. The company also operates medical laboratories and branch offices in multiple cities, including Beijing, Shanghai, Nanjing, and Zhengzhou.

VISION MEDICALS currently employs nearly 400 staff members and has provided services to over 800 clinical institutions. The company has established in-depth collaborative partnerships with leading clinical and research institutions, including the Chinese Academy of Medical Sciences, Peking Union Medical College Hospital, the General Hospital of the Chinese People's Liberation Army, West China Hospital of Sichuan University, Huashan Hospital Affiliated to Fudan University, Guangzhou Institute of Respiratory Health, the First Affiliated Hospital of Zhejiang University, and Shanghai Children's Medical Center, to conduct translational medical research and jointly build metagenomics platforms.

VISION MEDICALS has accumulated a large-scale dataset of over 100,000 metagenomic cases. To date, the company has published 15 high-impact SCI papers, filed nearly 30 invention patent applications (with 5 patents granted), and secured close to 20 software copyrights. In 2020, VISION MEDICALS stood out by earning several prestigious honors, including recognition as a National High-Tech Enterprise, certification under the National Intellectual Property Management Standard System, and designation as a Guangzhou “Future Unicorn” Innovative Enterprise.

“We deeply understand that behind every precious sample is a patient in urgent need of treatment.” This is the motto that VISION MEDICALS always keeps in mind. Committed to integrating knowledge with action, VISION MEDICALS is dedicated to the innovative research and development of precise pathogen diagnostic technologies.

In late 2019, VISION MEDICALS participated in the initial discovery of the novel coronavirus in China using its innovative pathogen metagenomics technology. Amid the global COVID-19 pandemic, VISION MEDICALS fulfilled its corporate responsibilities and facilitated the clinical translation and application of metagenomic technologies. Its pathogen metagenomics testing product, IDseqTM, covers more than 18,000 pathogens and enables multi-dimensional analyses, including resistance genes, virulence factors, and host immune responses. VISION MEDICALS’ product pipeline is expanding from pathogen metagenomics to capture-based technologies and molecular point-of-care testing (POCT), enabling precise typing, capture, and deep溯源 analysis of various pathogens, thereby achieving broader screening coverage and higher sensitivity in detection.

VISION MEDICALS will uphold its corporate vision of “Genetic Technology, Meticulous Care,” practice its corporate culture of “Excellence, Diligence, Perfection, and Win-Win Cooperation,” commit to innovation as a domestic enterprise, and empower precision medicine in infectious diseases.

Tencent enriches the lives of internet users through technology. By leveraging its communication and social platforms, WeChat and QQ, Tencent connects users and facilitates their access to digital content as well as online and offline services. Through its targeted advertising platform, Tencent helps advertisers reach hundreds of millions of Chinese consumers. Via fintech and enterprise services, it empowers partners to achieve business growth and digital transformation. Tencent makes substantial investments in talent development and promotes technological innovation, while actively participating in the collaborative advancement of the internet industry. Founded in 1998 in Shenzhen, China, Tencent’s shares (00700.HK) were listed on the Main Board of The Stock Exchange of Hong Kong Limited in 2004.

CICC Capital Management Ltd. (“CICC Capital”) is a wholly-owned private equity investment management subsidiary of China International Capital Corporation Limited (“CICC”). As CICC’s sole platform for private equity fund business, it centrally manages CICC’s domestic and overseas private equity fund activities, undertaking functions including formulating strategic development plans for private equity investment, driving business growth, allocating resources, and managing risk control. As of the end of 2019, CICC Capital had total assets under management exceeding RMB 330 billion and employed a professional investment management team of approximately 300 people, making it one of China’s leading private equity fund management platforms.

CDH Investments, established in 2002, is one of China’s largest asset management institutions, with assets under management (AUM) reaching RMB 150 billion to date. CDH Investments operates six core business segments: private equity, venture and growth capital (VGC), secondary market investments, real estate, mezzanine capital, and wealth management. The firm has invested in more than 200 companies, over 70 of which are listed on domestic and international stock exchanges. It has nurtured a portfolio of industry-leading brands, including Shuanghui (WH Group), Mengniu Dairy, Midea Group, Belle International, Kanghong Pharmaceutical, Lead Pharma, Grand Pharma, Chenguang Stationery, and SenseTime. Committed to being a long-term partner for global investors in identifying premier investment opportunities, CDH Investments strives to create long-term value for its portfolio companies and serve as an accelerator for China’s industrial transformation and the enhancement of people’s quality of life.

Guoke Jiahe Fund, established in 2011, is a primary equity investment fund manager initiated by CAS Holdings Co., Ltd. (“CAS Holdings”). It currently manages ten funds, including one RMB angel fund, three RMB growth funds, two RMB private equity (PE) funds, one USD venture capital growth fund, one national cybersecurity special fund, and two government-specialized funds, with total assets under management amounting to tens of billions of RMB. Leveraging the Chinese Academy of Sciences’ system of top-tier technological capabilities, extensive high-tech commercialization achievements, and government and industry resources, Guoke Jiahe Fund focuses on emerging sectors such as information technology (TMT) and life sciences, prioritizing investments in early-stage and growth-stage high-tech innovative enterprises with technological barriers. The fund has strategically invested in areas including big data, cloud computing, artificial intelligence, intelligent manufacturing and high-end equipment, semiconductors, cybersecurity and enterprise services, as well as medical services, medical devices, and innovative drugs, having cumulatively invested in nearly 120 companies.

China New Economy Investment Banker of the Year, Focusing on Global TMT, Consumer, and Health Industries. In addition to its investment banking business, China Renaissance is managing a RMB fund and a USD fund. The company has branches in Beijing, Shanghai, Los Angeles, and San Francisco, and holds a U.S. securities market license. The healthcare industry is a key focus area for China Renaissance, where it possesses significant advantages, having been recognized as the new economy investment bank with the most health industry transaction records in China for four consecutive years. Additionally, China Renaissance boasts the largest, most professional, and most comprehensive health industry investment banking team in the country.