MJ Translational Medicine Secures RMB 350 Million Series B Funding, Leading Companion Diagnostics and Precision Medicine
Tsing Song Capital
Venture-Style Private Equity Investment Firm
Qiming Venture Partners
Healthcare Investment Institutions
Quan Capital
Venture Capital Firm
MEDx (Suzhou) Translational Medicine Co., Ltd. (“MEDx Translational Medicine”) recently announced the completion of its RMB 350 million Series B financing round. The round was led by existing shareholder Qiming Venture Partners, with participation from Sinopharm Capital, China Tsing Song Investment Ltd, and Shanghai Broad Resource Investment Management Co., Ltd. Existing Series A investors, including Quanchuang Capital and Anjie Investment, continued their investment. China Renaissance served as the exclusive financial advisor.
The proceeds from this round of financing will be primarily used to expand the full-scale translational medicine platform, intensify R&D efforts for companion diagnostic products, accelerate product registration and sales network development, enhance overseas R&D and service capabilities, and improve commercial promotion, thereby better supporting innovative drug development by pharmaceutical companies both domestically and internationally, as well as enabling precision medication for cancer patients.
MEDx Translational Medicine completed a RMB 170 million Series A financing round in 2017. The recent securing of over RMB 350 million in Series B financing further confirms that precision diagnostics is an inevitable future trend, with MEDx Translational Medicine having emerged as a leading enterprise in this sector.
As a pioneering innovator and leader in providing comprehensive solutions for the precision diagnostics industry, MEDx Translational Medicine has achieved specialization and scale across its full technology platform, talent pipeline, product portfolio, and quality systems after seven years of development (originating as the Asia-Pacific Translational Medicine Center, a joint venture with QIAGEN Germany). Leveraging an industry-leading multi-omics integrated translational medicine platform encompassing nucleic acids, proteins, pathology, and cell biology, MEDx has demonstrated significant technological advantages and a leadership position within the companion diagnostics and precision medicine sector.
The company has established and validated over 200 testing methodologies, enabling the detection of more than 100 biomarkers and targets. It provides precision medicine services to over 200 clients domestically and internationally, and has formed strategic partnerships with more than ten leading innovative pharmaceutical and biotechnology companies to deliver comprehensive translational medicine solutions for innovative drug development. Multiple diagnostic products have been launched, while several others are in clinical trials or have completed clinical studies and are pending regulatory approval. Additionally, more than ten nucleic acid and protein-based products are in the R&D pipeline, covering targeted therapy, immunotherapy, and cell therapy. With strong momentum in product development, the company is advancing both solid tumor and hematologic malignancy large-panel genetic testing products in parallel, providing companion diagnostic solutions to guide precise medication for patients and support the advancement of precision medicine.
Dr. Zhang Yafei, Founder and CEO of MEDx Translational Medicinestated: “We are deeply honored to have received recognition and support from internationally renowned investment institutions and all existing shareholders. MEDx Translational Medicine is committed to providing translational medicine research, companion diagnostic development and commercialization, and medication guidance testing. By rapidly expanding the upstream and downstream industry chain and actively promoting global development, we have gained extensive recognition from our partners. In the future, we will continue to uphold the philosophy of ‘services plus products and diagnostics accompanying therapy,’ further strengthen and expand our comprehensive translational medicine platform, accelerate the commercialization of our products, and serve innovative pharmaceutical companies and public health worldwide.”
Ms. Yingyu Liang, Managing Partner of Qiming Venture Partners“Precision medicine has always been a key focus area for Qiming Venture Partners. As a leader and pioneer in precision diagnostics in China, MEDx (Suzhou) Translational Medicine Co., Ltd. has strategically established and deeply cultivated its presence in companion diagnostics and precision oncology treatment. Its services and products span the entire drug development lifecycle, addressing critical challenges in drug development and unmet patient needs in medication, thereby featuring a unique business model. Qiming Venture Partners also highly appreciates its experienced leadership and technical teams, as well as its exceptional innovation and business development capabilities. We are confident in the future development of MEDx Translational Medicine and are honored to continue leading this round of investment.”
Dr. Zhang Xiao, Managing Director of China RenaissanceStatement: The era of precision medicine has arrived. MEDx (Suzhou) Translational Medicine Co., Ltd. has been deeply engaged in the fields of translational medicine and companion diagnostics for many years, establishing world-class platforms for translational medicine services and companion diagnostic product development. We are optimistic about the business model of MEDx’s comprehensive companion diagnostics solutions and look forward to more milestone achievements by the company following this round of financing.
MEDx (Suzhou) Translational Medicine Co., Ltd. was established in 2013. As a pioneering innovator and leader in providing comprehensive solutions for the precision diagnostics industry, MEDx Translational Medicine leverages its industry-leading integrated translational medicine platforms—spanning nucleic acids, proteins, pathology, and cell biology—along with an experienced team of specialized technical experts. The company delivers end-to-end solutions for precision medicine, including biomarker discovery and validation, molecular testing and patient enrollment screening for new drug clinical trials, assay development, and the commercialization of companion diagnostic kits. These services address critical pain points in innovative drug development and optimize therapeutic outcomes for patients.
Qiming Venture Partners was established in 2006 and has successively set up offices in Shanghai, Beijing, Suzhou, Shenzhen, Hong Kong, Seattle, Boston, and the San Francisco Bay Area. Currently, Qiming Venture Partners manages nine U.S. dollar funds and five RMB funds, with total assets under management exceeding USD 5.3 billion. Since its inception, the firm has focused on investing in outstanding early-stage and growth-stage companies in sectors such as TMT and Healthcare. To date, Qiming Venture Partners has invested in more than 350 high-growth innovative enterprises, among which over 110 have achieved exits through listings on exchanges including the New York Stock Exchange (NYSE), NASDAQ, Hong Kong Stock Exchange, Taipei Exchange, Shanghai Stock Exchange, and Shenzhen Stock Exchange, as well as through mergers and acquisitions. More than 30 of these portfolio companies have become industry-recognized unicorns and super unicorns.
Quanchuang Capital is a venture capital fund focused on the early and growth stages of the life sciences sector. Driven by innovation and guided by unique scientific and commercial insights, we identify, build, and invest in leading life science companies with high-growth potential worldwide. Our portfolio includes companies developing cutting-edge innovative therapies, advanced technology platforms, and industry leaders that fill critical gaps in the ecosystem. Quanchuang Capital currently maintains offices in Shanghai, San Francisco, and Boston.
Sinopharm Capital Management Co., Ltd. was established in 2012 as an equity investment institution focused on the healthcare sector, jointly initiated by Sinopharm Group and its management team. The firm currently manages funds totaling over RMB 6 billion. Its management team comprises professional investors from both within and outside Sinopharm Group, operating under market-oriented mechanisms, making it one of the earliest investment institutions in China to specialize in healthcare and wellness investments.
Qingsong Capital is a specialized private equity investment firm focused on the biotechnology and healthcare sectors. Its management team possesses extensive medical expertise and deep experience in private equity investment. Adhering to a research-driven investment approach, Qingsong Capital cultivates deep expertise in biotechnology, pharmaceuticals, medical devices, innovative healthcare services, and the interdisciplinary fields where the broader health industry converges with cutting-edge technologies. The firm actively engages in the development of its portfolio companies, committed to growing alongside the most outstanding innovative biomedical enterprises and fostering technological and commercial innovation within China’s life sciences and healthcare industries.
Shanghai Broad Resource Investment Management Co., Ltd. is a value-oriented global asset allocation private equity fund, focusing on domestic and overseas equity investments and serving outstanding Chinese enterprises and entrepreneurs active globally.
The Borun Equity Fund focuses its investments on strategic emerging industries such as biopharmaceuticals and intelligent manufacturing, supporting the growth of outstanding enterprises and cultivating industry leaders in niche sectors. The Borun Equity Stock Fund is centered on the philosophy of value-driven growth, with a key focus on leading stocks in the major consumer, healthcare, and strategic emerging industries, providing investors with long-term, stable, and sustainable returns.
Anjie Investment is a large-scale venture capital firm specializing in venture capital and equity investment. Headquartered in Shanghai, China, it has been deeply engaged in the investment sector for over 20 years, with offices in Shanghai, Hong Kong, and other locations. Its investment portfolio spans life sciences, semiconductor chips, internet technology, and other sectors. The companies and R&D centers it has invested in are distributed across China, Singapore, North America, Europe, and other regions worldwide. Its subsidiary investment entities serve as long-term strategic investors and core shareholders of numerous listed companies, and it has also invested in multiple innovative unicorn companies and industry leaders.
China New Economy Investment Bank is a leader in China's new economy investment banking sector, focusing on three major industries: global TMT (Technology, Media, and Telecommunications), consumer goods, and healthcare. In addition to its investment banking services, the firm manages one RMB-denominated fund and one US dollar-denominated fund. The company has established branches in Beijing, Shanghai, Los Angeles, and San Francisco, and holds a license for the U.S. securities market. Healthcare is a key focus area where China New Economy Investment Bank possesses significant strengths. Its diverse team, composed of professionals from various fields such as research and development, funds, medical institutions, and corporate groups, enables the firm to have profound understanding and insight into the healthcare industry and its investment logic.