GenoMatrix Biotech Secures Nearly RMB 200 Million in Series B Funding, Pioneering Precision Diagnosis of Infectious Diseases

VCBeat (WeChat ID: vcbeat) has learned that Hangzhou Matridx Biotechnology Co., Ltd. (“Matridx Biotechnology”) recently announced the completion of its Series B financing round, raising nearly RMB 200 million. The round was led by Chende Capital, with participation from Qianhai Fund of Funds and other investors. Existing shareholders, including Prostar Ventures, Puhua Capital, and senior industry professionals in in vitro diagnostics, also increased their investments. The proceeds will be primarily used for the registration and certification of infectious disease-related medical device products, new product development, and the advancement of commercialization strategies.

Headquartered in Hangzhou, Zhejiang, Matridx Biotechnology was co-founded by Dr. Wang Jun, a founding team member of Berry Genomics (SZ:000710), China’s first listed gene sequencing company, and Mr. Zhong Jie, former head of strategic investment at Dian Diagnostics (SZ:300244), China’s first listed independent medical laboratory, and a partner at the Zhejiang Grand Health Industry Fund. Leveraging high-throughput sequencing (NGS) and gene editing (CRISPR/Cas) as its core technological platforms, Matridx Biotechnology integrates cutting-edge technologies such as genetic testing, big data analytics, and artificial intelligence to pioneer innovations in the future of infectious disease diagnostics. The company is a strategic partner of Alibaba Cloud for AI applications in infectious diseases and an application partner of Illumina, the global leader in gene sequencing, in the field of microbiomics. Matridx Biotechnology has been recognized with numerous accolades, including “Top 20 Molecular Diagnostics Companies” in VCBeat’s “2020 Future Healthcare 100,” “Top 80 Innovative Healthcare and Grand Health Enterprises in China 2020” by Cyzone, and “China’s Most Promising Molecular Diagnostics Company” by CB Insights.

Matridx Biotechnology is dedicated to revolutionizing genetic testing for infectious diseases. Through years of focused R&D and clinical application, Matridx has pioneered the development of a globally leading, fully automated, and intelligent solution for pathogen metagenomic next-generation sequencing (mNGS), becoming the first company in China to launch a quantitative mNGS (Q-mNGS) testing service. Research indicates that Matridx stands out in the Chinese mNGS market for its faster turnaround time, higher accuracy, and broader service coverage. The company has filed nearly 20 patents and other intellectual property rights.

The Company has established in-depth collaborations with leading domestic clinical institutions, including Peking Union Medical College Hospital of the Chinese Academy of Medical Sciences, Huashan Hospital Affiliated to Fudan University, and the Guangzhou Institute of Respiratory Health. It also collaborates with authoritative experts in the field of infectious diseases across China to promote and popularize the clinical application of mNGS technology.

In 2020, the global rampage of the novel coronavirus (COVID-19) brought about tremendous changes to the world and accelerated the entry of infectious disease diagnosis and treatment into the era of precision prevention and control. During the COVID-19 pandemic, Matridx Biotechnology took the lead in undertaking the Ministry of Science and Technology’s “Emergency Testing Project for Novel Coronavirus Pneumonia” and participated in the key national R&D program titled “Clinical Study of the Combination of Favipiravir and Tocilizumab.” Going against the tide to the frontline of China’s battle against the epidemic, Matridx established a localized pathogen metagenomic sequencing center at Wuhan Jinyintan Hospital, providing precise diagnoses for over 300 critically ill COVID-19 patients and effectively contributing to the reduction of mortality rates among COVID-19 patients in China. Its independently developed fully automated, intelligent pathogen metagenomic testing product solutions have been deployed at the Chinese Center for Disease Control and Prevention (China CDC) as well as local CDCs in Hubei, Zhejiang, Urumqi, and other regions, providing strong support for the precise detection and variant monitoring of the novel coronavirus. Furthermore, Matridx Biotechnology’s rapid COVID-19 test kits based on CRISPR gene-editing technology, along with their accompanying point-of-care testing (POCT) devices, have obtained EU CE certification and are currently actively contributing to the global fight against the pandemic.

Dr. Jun Wang, CEO of Matridx Biotechnologystated, “We sincerely thank both new and existing investors for their continued recognition and trust in Matridx Biotechnology. We will remain steadfast in our founding purpose and mission, focusing on precision diagnosis and treatment of infectious diseases, sustaining R&D investment, and striving to integrate product innovation with data-driven approaches to make disease diagnosis more accurate, faster, and smarter. We are committed to contributing our due share to the global fight against antimicrobial misuse and to public health efforts in infection control.”

Mr. Tan Qing, Managing Partner at Chende Capitalstated: “Metagenomic sequencing technology will usher in a new era for pathogen diagnosis in microbiomics, aligning with the development trends of precision medicine. It is poised to become a first-line diagnostic and therapeutic approach for critical care and complex infectious diseases in the future. We remain firmly confident in the innovative R&D capabilities and commercialization expertise of the Matridx team, and believe that Matridx Biotechnology will emerge as a leader in technological innovation and testing applications within the field of infectious disease diagnostics, leveraging its distinctive product solutions and forward-looking industrial innovation layout.”

Mr. Li Zhe, Managing Partner of Proxima Venturesstated: “As the lead investor in the previous funding round, we have witnessed Matridx Biotechnology’s breakthrough progress and rapid development in the field of infectious disease diagnostics over the past year. Leveraging its profound understanding of precision diagnosis and treatment for infectious diseases and its substantial technological expertise, the company globally launched the first fully automated, intelligent metagenomic next-generation sequencing (mNGS) diagnostic solution, which has received high acclaim within the industry. The business has expanded rapidly, completing its initial rollout across China’s more economically developed provinces, with its superior product performance earning recognition and praise from numerous top-tier hospitals. Furthermore, its CRISPR gene editing-based rapid COVID-19 test kits and accompanying point-of-care testing (POCT) devices were among the first to achieve industrialization, securing EU CE certification and entering international markets. Proxima Ventures remains firmly optimistic about Matridx’s strategic positioning and innovative breakthroughs in infectious disease diagnostics. We will continue to facilitate Matridx’s integration with leading global healthcare ecosystems to support its rapid business growth.”

Mr. Zhou Mi, Managing Partner of Puhua Capital“He stated, ‘Metagenomic next-generation sequencing (mNGS) truly meets the urgent clinical need for precise diagnosis of infectious diseases, a recognition that has been accelerated by the global outbreak of COVID-19. As an investor in Matridx Biotechnology’s Series A funding round, we have observed that its management team, which combines scientific expertise with industry experience, has launched multiple industry-first technologies and products over the past year, conducted large-scale testing with industry-leading sample volumes, and accumulated extensive genomic big data. During the COVID-19 pandemic, the company demonstrated the responsibility and commitment expected of an industry leader. We are highly optimistic about Matridx Biotechnology and will continue to support its development. We look forward to Matridx leading industry advancement through innovative technologies and creating greater value for society and human health!’”

Chende Capital is an investment firm focused on the life sciences and medical technology sectors. It manages multiple USD and RMB funds, with total assets under management exceeding RMB 4 billion. Chende Capital is managed and operated by a professional team with extensive experience in the healthcare industry, dedicated to building top-tier companies in the medical field and delivering optimal returns to its investors.

Qianhai Fund of Funds was established in 2016 with a scale of RMB 28.5 billion, making it the largest commercially raised fund of funds and a leading private equity investment fund in China. It places equal emphasis on fund investments and direct equity investments, and is managed by Qianhai Ark Asset Management Co., Ltd., led by Jin Haitao, a pioneering figure in China’s venture capital industry. Since its inception, Qianhai Fund of Funds has cumulatively invested in 1,094 direct and indirect equity projects, with more than 20 portfolio companies listed on stock exchanges both domestically and internationally.

Headquartered in Hangzhou, Zhejiang, Matridx Biotechnology was co-founded by Dr. Wang Jun, a founding team member of Berry Genomics (SZ: 000710), and Mr. Zhong Jie, the former head of strategic investment at Dian Diagnostics (SZ: 300244) and a partner at the Zhejiang Grand Health Industry Fund. Leveraging next-generation sequencing (NGS) and CRISPR/Cas gene editing as its core technological platforms, the company integrates cutting-edge technologies such as genetic testing, big data analytics, and artificial intelligence to provide comprehensive molecular diagnostic solutions for infectious diseases to clinical patients.

Matridx Biotechnology is a strategic partner of Alibaba Cloud in AI applications for infectious diseases and an application partner of Illumina, the global leader in gene sequencing, in the field of microbiomics. It is the only company in China that provides fully automated testing product solutions for pathogen metagenomic next-generation sequencing (mNGS). The company has been recognized by the industry as one of the “Top 20 Molecular Diagnostics Companies in the 2020 Future Healthcare 100,” one of the “Top 80 Innovative Enterprises in China’s Medical and Health Industry in 2020,” and “China’s Most Promising Molecular Diagnostics Company,” among other honors. Upholding the philosophy of “Innovating to Test the Future,” Matridx Biotechnology is poised to lead molecular diagnostics into a new era.