PANOMIX Files IPO Prospectus: Pioneering Clinical and Health Applications of Metabolomics with Services to 700+ Research Institutes and Hospitals

Following the advancements in genomics and proteomics, metabolomics has also emerged as a dynamic field in recent years, rapidly permeating multiple areas closely related to human health and care, including disease diagnosis, pharmaceutical research and development, nutritional food science, toxicology, environmental science, and botany.

Genomics and proteomics explore the fundamental activities of life at the genetic and protein levels, respectively; however, many critical biological processes within cells actually occur at the metabolite level. Theoretically, metabolites are the end products of gene expression, with genes determining their composition. In practice, however, an organism’s vital activities are regulated by multiple factors, and metabolites often serve as direct “messengers” that reflect the overall physiological functioning of the body.

"If genes and proteins are the helmsmen of life activities, then metabolites are the executors."

Metabolites, as the interface between genes and the environment, undergo immediate changes in response to environmental factors such as diet, lifestyle, and medication. Capturing metabolomic information is equivalent to capturing the outcomes of gene-environment interactions. It is crucial to perform simultaneous qualitative and quantitative analyses of all low-molecular-weight metabolites in a given organism or cell during a specific physiological period.

Metabolomics technology can be used to monitor differential metabolites in healthy populations and those with specific diseases. These differential metabolites can serve as important evidence for physicians in diagnosing diseases and determining the timing of medication.Given the complexity of the human body, monitoring a greater number of differential metabolite indicators enables a more accurate reflection of its true physiological status. Metabolomics technology, which employs mass spectrometry to monitor vast quantities of metabolites, offers advantages in terms of technical capability, efficiency, and cost.

Anticipating the future prospects of metabolomics technology, Panomics began strategically positioning itself in China when the domestic metabolomics testing industry was still largely undeveloped. By deeply cultivating the application of metabolomics in clinical health, it has become one of the earliest developed metabolomics companies in China.

Today, as a pioneer in the metabolomics industry, Panomics has establishedA cloud-based data analytics system with independent intellectual property rights has developed multiple product pipelines centered on cardiovascular and cerebrovascular diseases, tumor companion diagnostics, and more, establishing a framework encompassing technical services, clinical product development, and BioDeep^TMThree Major Business Segments Centered on the Cloud Metabolomics Platform.

Leveraging its comprehensive sample pretreatment platform, multiple high-resolution mass spectrometry systems, and a cloud-based data analysis system with independent intellectual property rights, Panomics provides comprehensive and professional metabolomics research testing and analysis services to over 700 research institutions, Grade A tertiary hospitals, and pharmaceutical companies both in China and abroad.

Service offerings encompass multiple fields, including metabolomics, lipidomics, proteomics, ionomics, and exosome research, covering30+ typesRefine the scope of testing and analysis services to provide clients with personalized metabolomics research solutions.

Panomics Scientific Research Technical Service Project Content

As one of the first innovative companies in China to introduce high-throughput metabolomics technology into clinical applications, Panomix is undoubtedly a pioneer in the clinical application of metabolomics technology.

Quantitative Analysis of Metabolic Biomarkers Based on Mass Spectrometry: Panomics has developed multiple clinical diagnostic products for cardiovascular and cerebrovascular diseases using a triple quadrupole LC-MS/MS platform in the field of targeted metabolomics (clinical applications of mass spectrometry). These products include MaiNuokang, a coronary heart disease diagnostic kit with independent intellectual property rights; early diagnostic products for atherosclerosis; and general screening products for amino acids, bile acids, vitamins, and therapeutic drug monitoring.

According toJianhong Ren, CEO and President of PanomicsIntroduction: Developed by the CompanyMaiNuokang Coronary Heart Disease Diagnostic KitIt is the world’s first clinical auxiliary diagnostic product based on targeted metabolomics technology that identifies patients with non-obstructive coronary artery ischemia (NOCA) through mass spectrometry. Through metabolomic mass spectrometry analysis of blood samples from thousands of patients with coronary heart disease, Mainuokang identified five specific metabolic biomarkers that can assist in diagnosing NOCA patients. Detection and analysis of these five metabolic biomarkers can help physicians rapidly identify patients with NOCA.

Patients with NOCA present with electrocardiographic signs of ischemia and symptoms resembling angina; however, coronary angiography reveals less than 50% stenosis, which is insufficient for a diagnosis of ischemic heart disease. Consequently, many patients who likely belong to the NOCA population face significant undertreatment, posing substantial risks to their health.

In the clinical application of untargeted metabolomics, Panomics leverages its “high-throughput untargeted metabolomics technology + AI” platform (MetaTarget^TM) developed primary prevention products for stroke, filling the gap in early clinical diagnosis and follow-up management of stroke both domestically and internationally.

Compared with traditional stroke prevention and detection methods, Panomic’s primary stroke prevention product offers the advantages of real-time phenotyping, speed, and low cost. Ren Jianhong told VCBeat,Panomic leverages its proprietary “Full-Target” second-generation isotope-based untargeted metabolomics technology and AI algorithms to detect 20,000 indicators, generate test reports within ten minutes, and achieve a per-sample cost significantly lower than that of genetic testing.If this method becomes widely adopted, individuals at high risk for stroke—such as those with hypertension, diabetes, dyslipidemia, or atrial fibrillation—will all benefit.

According to the "Report on Cardiovascular Health and Diseases in China (2019)," cardiovascular disease has remained the leading cause of death in China over the 27-year period from 1990 to 2017, with its prevalence continuing to rise.Among the 330 million prevalent cardiovascular disease cases in China, stroke accounts for 13 million.Ren Jianhong stated that, based on these figures, the market potential in this sector is expected to exceed RMB 20 billion.

In recent years, a growing body of research has demonstrated that gut bacteria can enhance the body’s response to cancer immunotherapy. Panomics has strategically positioned itself in this field at an early stage. Its shareholder, Alphamab Oncology, is currently conducting clinical trials for bispecific antibody drugs, with Panomics actively participating. The company performs microbial diversity analysis and metabolomic mass spectrometry testing on fecal and blood samples, respectively, from patients enrolled in these trials to identify metabolomic biomarkers. The goal is to enable physicians to conduct prognostic assessments for antibody drugs targeting PD-1/PD-L1 based solely on mass spectrometry reports of patients’ blood samples.

Panomics’ ability to compete on a level playing field with domestic and international peers in the same sector and rank among the leaders in overall strength would not be possible without its independently developed BioDeep.^TMCloud Metabolomics Platform.

BioDeep^TMIt features automated, multi-batch metabolomics data analysis capabilities, enabling rapid data upload and cloud-based storage. Additionally, it supports one-click generation of analytical reports directly from raw mass spectrometry data, significantly reducing the time technicians spend on testing and reporting.

Furthermore, the platform enables a range of functions, including metabolomics data mining, reference standard sharing, and data sharing, serving as a critical foundation for Panomics’ strategic deployment of its future Metabolomics Health and Clinical Big Data Platform.

Although Panomics entered the metabolomics field early and secured a significant first-mover advantage, this also meant that there were no established development paths or industry standards to reference. The company had to navigate uncharted territory through trial and error. On this uncertain and rugged journey, both internal capabilities and external support are indispensable.

Internal strength refers to visionary leadership and a high-performing internal team.

During his university years and early career, Ren Jianhong witnessed the rapid advancement of biotechnology and its industrial applications, recognizing the immense potential for future growth in the field. This ignited his entrepreneurial aspirations. Although gene sequencing and proteomics technologies were still in their nascent stages in China at the time—representing an untapped “blue ocean” with boundless prospects—Ren Jianhong chose to focus on the commercial development and implementation of metabolomics technologies.

He firmly believes that the analysis of human metabolites will significantly improve the landscape of clinical diagnosis and treatment.

When recalling the key decisions made at the outset of his entrepreneurial journey in 2013, Ren Jianhong noted that his master’s research and years of professional work had been consistently focused on microbial metabolism, molecular engineering, and protein engineering, thereby laying the preliminary foundation for the company’s path into metabolomics.

In assessing the market, Ren Jianhong and his founding team believed that “both genetics and metabolism hold significant promise for development. However, metabolomics, being downstream of genomics in systems biology, allows for more direct and precise application of results to scientific research and clinical practice. At that time, there were approximately 70 sequencing companies across China. We anticipated that gene sequencing would inevitably become a highly competitive ‘red ocean’ in the future, so we decided to focus on metabolomics technology. As a result, Panomix became one of the earliest metabolomics companies in China.”

Currently, after years of development, Panomics has established a team fromHarvard University, UC Davis, MD Anderson Cancer Center, and other international institutions; the Chinese Academy of Sciences; and top-tier domestic research institutes such as China’s Project 985 and Project 211 universities—multidisciplinary, cross-disciplinaryHigh-Caliber Integrated Team,Over 60% of the team holds a master’s degree or higher, and its strong academic background has infused Panomics with an R&D DNA brimming with limitless innovative potential.

If the company’s leadership and team constitute Panomic’s internal strength, then external collaborations represent its external force. This external force determines whether the company can exchange capabilities with the outside world, leverage complementary strengths, and achieve mutual success. Ren Jianhong introduced to VCBeat that PanomicCurrently, we have established collaborations with multiple universities and hospitals, including the National Health Commission of China, Peking University Health Science Center, Duke Kunshan University, Zhejiang University, Fudan University, Peking Union Medical College Hospital, Beijing Friendship Hospital, Fuwai Hospital in Beijing, and West China Hospital of Sichuan University.Collaborated closely to strive for research breakthroughs in metabolomics technology.

Currently, Panomics and its partners have utilized clinical mass spectrometry and metabolomics technologies to test and track nearly 10,000 samples associated with cardiovascular and cerebrovascular diseases.

Metabolomics testing refers to the simultaneous qualitative and quantitative analysis of all low-molecular-weight metabolites in a specific organism or cell during a particular physiological period. It is an analytical technique based on panel-based indicator analysis, employing high-throughput detection and data processing methods, with the goal of information modeling and systems integration. This technology is closely related to the fields of in vitro diagnostics and precision medicine.

In 2015, China’s overall in vitro diagnostics (IVD) market reached RMB 35.3 billion, while the global precision medicine market was valued at approximately USD 60 billion in the same year. The future market potential of metabolomics is immense and difficult to quantify. Panomix estimates that the annual growth rate of China’s overall IVD market will exceed 20%, and the global precision medicine market will grow at an annual rate of 15%, with its market expansion pace being three to four times faster than that of the pharmaceutical industry.

Given confidence in Panomics’ intrinsic capabilities and the promising outlook of the metabolomics sector in which it operates, numerous investment institutions have extended olive branches to the company.

Currently, Panomic has secured funding from multiple companies and renowned investment institutions, including Kinnis Therapeutics, Mint Capital, Wosheng Capital, and Longmen Capital, completing two rounds of financing from the angel round to the Pre-A round. Ren Jianhong told VCBeat,The company will launch its next round of financing in the near future, aiming to accelerate the clinical application of metabolomics technologies, strengthen research on the use of metabolomics in new drug development, and expand its talent team.

“Panomix” is a transliteration of PANOMIX, a portmanteau of “PANO” (meaning “prophet” in Native American languages) and “MIX” (referring to multi-omics), symbolizing its role as a prophet in the field of omics—where prophecy implies foresight. “Among omics technologies, metabolomics is best suited for health management applications. With rising health awareness and greater willingness and ability to pay, the future prospects for metabolomics in health applications are boundless,” said Ren Jianhong.

“It has been said that ‘genomics and proteomics tell us what might happen, while metabolomics tells us what has actually happened.’ Ren Jianhong and his team will continue to deepen their expertise in metabolomics technologies, steadily realizing the company’s vision of becoming ‘everyone’s metabolite steward.’”