Proting Secures Tens of Millions in Pre-A Funding to Advance Over 100 Mass Cytometry Solutions

VCBeat (WeChat ID: vcbeat) has learned that Zhejiang Puluoting Health Technology Co., Ltd. (hereinafter referred to as “Puluoting”) has announced the completion of its Pre-A financing round, raising over RMB 10 million. The proceeds will be primarily used to advance sample accumulation for several of the company’s R&D pipelines and to conduct multi-center validation studies prior to clinical registration.

It is reported that this round of financingLed by Zheshang Venture Capital, with follow-on investment from Kefa Capital (the angel round investor), and Beituo Capital serving as the exclusive financial advisor.. Previously, Puluoting completed an angel round of financing worth tens of millions of yuan in 2017, with exclusive investment from Zhejiang Kefa Capital.

You Xiangdong, President of Zheshang Venture Capital (center, front row), Yin Shaofeng, Vice President of Kefa Capital (left, front row), and Shi Hongyu, General Manager of Puluoting (right, front row), signed the agreement.

Chen Yuemeng, Chairman of Zheshang Venture Capital (third from left in the back row), Chen Xiaofeng, Chairman of Kefa Capital (second from left in the back row), and Chen Zichen, Chairman of Puluoting (third from right in the back row) attended the signing ceremony.

Founded in 2015, Zhejiang Puluoting Health Technology Co., Ltd. is a national high-tech enterprise providing single-cell precision research solutions. Rooted in single-cell research within the field of precision medicine, the company primarily focuses on the clinical translation and application of mass cytometry technology. It is one of the few companies in China capable of delivering comprehensive, large-scale commercial solutions for mass cytometry applications.

The company’s team comprises top-tier interdisciplinary talents spanning medicine, immunology, engineering sciences, and information sciences. Professor Wei Chen, the Chief Scientist, serves as the Principal Investigator of the “Young 973 Program” under the National Major Research Plan for Proteins, is a recipient of the “Excellent Young Scientists Fund” from the National Natural Science Foundation of China, and acts as a doctoral supervisor at Zhejiang University. He has long been engaged in interdisciplinary research in protein science, with his core research findings published in leading international academic journals such as Cell, Molecular Cell, and Immunity.

Notably, Puluoting has over 100 collaborative projects on the translational application of mass cytometry currently in preclinical R&D. According to incomplete statistics provided by Shi Hongyu, General Manager of Puluoting, the company is leading at least 80% of preclinical research projects involving mass cytometry technology in China.

From a technical perspective, mass cytometry can be regarded as an upgraded version of traditional fluorescence-based flow cytometry. Due to its underlying principles, traditional fluorescence-based flow cytometry is unable to perform simultaneous multi-parameter detection across ultra-high numbers of channels, thereby limiting its application scenarios. In contrast, mass cytometry offers a greater number of available channels and eliminates the issue of spectral compensation. This significantly expands the clinical applications of flow cytometry, opening up an entirely new avenue for its use in clinical diagnostics beyond the traditional scope of hematological disease testing. From a demand perspective, precision medicine represents the development trend in clinical medicine. Conventional TBNK immune profiling has become increasingly inadequate in meeting the growing demand for more precise immunological assessments driven by rapidly advancing clinical therapeutic technologies.

“If demand and technology can be perfectly matched, then the technology is certainly promising in the market,” said Shi Hongyu. “However, the translation from technology to market requires completing the transition from”Basic R&D, toResearch Translation, ultimately toProduct Commercialization“There are three critical stages, each presenting numerous challenges to address, and these stages are closely interlinked, with no room for disconnection.”

The foundational R&D work on mass cytometry technology was essentially completed in 2010. Prior to that, mass cytometry had always been a tool for basic scientific research. In 2016, when Zhejiang Puluoting Health Technology Co., Ltd.’s team decided to introduce mass cytometry technology from the United States, they took the lead in proposing toClinical Translation and Application of Mass Cytometry Technology, and the company has consistently aligned its technological investments with this strategic direction.

As one of the first enterprises in China to introduce mass cytometry technology, Zhejiang Puluoting Health Technology Co., Ltd. has, through two years of independent research and development and application optimization, advanced mass cytometry technology from its original35 detection channels were expanded to 42 detection channels, reaching the highest level of mass cytometry detection channels in China, greatly enhancing the dimensionality of single-cell analysis applicable to mass cytometry.

Shi Hongyu emphasized that the translational application of mass cytometry in scientific research entails more than merely utilizing the technology. It requires a deep understanding of the technique coupled with close collaboration with clinicians to identify genuine, rather than perceived, clinical needs. Only through this approach can the technology be effectively translated into practice to tangibly address various challenges faced in clinical settings. Furthermore, the eventual commercialization of related products necessitates advance planning for the standardization and systematization of clinical testing. A profound understanding of the clinical diagnostics market is essential to ensure the adoption of new technologies by the clinical community.

Currently, Puluoting has implemented standardized and systematic end-to-end processes for mass cytometry (CyTOF) detection, and has independently developed and localized reagents and consumables, significantly reducing the cost of testing. Meanwhile, the company has established a professional bioinformatics analysis team, reconstructed the traditional manual gating workflow in flow cytometry, and leverages AI-driven unsupervised learning algorithms along with multiple self-developed bioinformatics software tools to perform diverse data analysis and mining.

Mass cytometry enables high-throughput analysis of diverse cellular information, including cell phenotype and function, at the single-cell level. Therefore, it offers irreplaceable advantages in comprehensively and deeply dissecting the immune system to identify key immune features associated with disease onset, progression, and prognosis.

Puluoting has built, based on its mature mass cytometry technology platform and bioinformatics analysis platform, through extensive collaborations in the fields of medical research, clinical diagnosis and treatment, and drug development,China's First Immune Atlas Database Covering Healthy Individuals and Multiple Diseases, and apply the immune profiling database to the development of clinical R&D projects such as early disease screening, companion diagnostics, and prognostic assessment.

Based on its immune atlas database, Puluoting has established the first set of routine single-cell immune metrics specifically for Asian populations, and has achieved phased results in early screening for lung and liver cancers, as well as in companion diagnostics for anti-PD-1 immunotherapy.

Based on the more than 100 collaborative projects currently underway by Puluoting, the company’s mass cytometry testing covers a wide range of disease areas, including solid tumors, hematologic disorders, autoimmune diseases, cardiovascular diseases, neurological disorders, gynecological conditions, and traditional Chinese medicine. Its collaborators include numerous renowned domestic and international pharmaceutical companies, teams led by academicians, and research directors from dozens of authoritative Grade 3A hospitals. Among the top 10 Grade 3A hospitals in China, seven have established collaborations with Puluoting, and among the top 30, 17 have done so.

As the company’s R&D efforts continue to deepen, more application scenarios will be unlocked. Early disease screening, companion diagnostics, and prognostic assessment will all become important application areas for mass cytometry technology.

As the leading enterprise in the application and commercialization of mass cytometry technology in China, how does Zhejiang Puluoting Health Technology Co., Ltd. view the future prospects of domestically developed mass cytometry technology? Shi Hongyu responded, “Whether mass cytometry technology can ultimately gain market acceptance and become an essential technique for future clinical testing depends on two key factors: product value and product price. Product value is reflected in physicians’ recognition of its utility in clinical diagnosis and treatment; product price determines whether the product can sustain long-term viability and withstand market scrutiny. We are confident that mass cytometry technology will meet both of these fundamental criteria and is destined to become the optimal choice for clinical testing, offering high quality at an affordable price.”

Regarding investment in Puluoting,Mr. You Xiangdong, President of Zheshang Venture Capital, the Lead InvestorIt stated: “Zhejiang Puluoting Health Technology Co., Ltd. (Puluoting) is currently one of the leading enterprises in China in the field of mass cytometry technology development. Leveraging the team’s years of exploration and accumulation, Puluoting has established the first immune atlas for healthy Chinese populations and various diseases, and has developed the largest number of mass cytometry detection channels in China. This lays a solid foundation for the subsequent commercial clinical application of mass cytometry technology. Our investment in Puluoting in this round is driven not only by the company’s technological innovation and industry-leading position, but more importantly, by our confidence in the powerful synergy between Professor Chen Wei and other young scientists returning from overseas, along with the management team. This combination is expected to significantly accelerate the translation of scientific achievements into commercial applications in the future.”

Chen Gao, Director of Kefa Capital, the co-investorThey also acknowledged, “Our decision to invest is primarily based on several factors. First, the technology held by Puluoting demonstrates strong leadership. In an era that emphasizes precision medicine, Puluoting’s single-cell multi-parameter analysis technology presents significant opportunities in areas such as early disease screening, companion diagnostics, and immune system monitoring. Meanwhile, as angel investors, we place greater emphasis on the team’s potential. Puluoting’s team not only comprises outstanding scientists but also includes co-founders with extensive experience in corporate management and industrial commercialization, ensuring robust capabilities in both creativity and execution. This provides a solid guarantee for the company’s rapid future growth. After more than a year of development, Puluoting has accumulated a substantial number of clinical cases and launched collaborative projects with over one hundred hospitals, universities, pharmaceutical companies, and research institutions. Its technology has been further refined and validated, indicating that the company is at a tipping point for explosive growth. We have great confidence in Puluoting and are pleased to provide additional investment to support the team. We also feel fortunate to witness Puluoting’s growth.”

Niu Jiang, Partner at Beituo Capital and Member of the Business Management Committee“We are honored to support the Puluoting team in completing this round of financing. As a cutting-edge high-throughput single-cell technology, the scientific and clinical translation of mass cytometry has been a key focus area for BeiTuo Capital’s healthcare investment team. The Puluoting team demonstrates exceptional execution capabilities, having pioneered the development of a comprehensive, systematic solution using this technology. This innovation has significantly reduced testing costs, thereby removing barriers to further clinical application. We believe that Puluoting will continue to play a pivotal role in advancing the domestic application of mass cytometry technology in China.”

Zheshang Venture Capital Co., Ltd. (Stock Code: 834089) is a leading venture capital firm in China, specializing in corporate management, resource integration, capital operations, and venture capital matchmaking. With extensive experience in fund management, Zheshang Venture Capital currently manages nearly 40 equity investment funds and merger & acquisition (M&A) funds, with assets under management exceeding RMB 55 billion. The firm focuses primarily on the big health, new consumption, high-tech, and advanced intelligent manufacturing sectors, having successfully invested in nearly 200 outstanding enterprises and accumulated rich industry insight and investment management expertise. Zheshang Venture Capital’s healthcare investment team comprises renowned hospital management experts and medical industry specialists, possessing substantial practical experience in healthcare investment, Grade 3A hospital management, and M&A of medical projects.

The Zhejiang University Future Medical Innovation Fund, which invested in Puluoting in this round, was jointly established by Zheshang Venture Capital and Zhejiang University. Leveraging the interdisciplinary strengths and innovative momentum of the Zhejiang University Medical Center, along with Zheshang Venture Capital’s extensive expertise in healthcare investment and fund management, the fund aims to guide and attract more social capital to invest in innovative projects related to the Zhejiang University Medical Center’s public service platforms, biopharmaceuticals, and medical devices. Its goal is to gradually foster an innovation ecosystem where capital follows the sources of knowledge and technology.

Zhejiang Kefa Capital Management Co., Ltd. was established in 2011, with its core team comprising pioneers and explorers in China’s private equity and venture capital industries. The company has issued and manages fifteen funds, with total assets under management reaching RMB 10 billion. It focuses primarily on investments in the healthcare, intelligent manufacturing, and information technology sectors. In particular, it has made in-depth, full-industry-chain deployments in the healthcare sector, investing in a large number of high-quality innovative drug, medical device, and healthcare service companies, with investment stages spanning from preclinical research to Phase II clinical trials. As a well-known investment institution in Zhejiang Province, Kefa Capital has been repeatedly honored as a “China Financial Leading Enterprise,” one of the “Top Ten Excellent Venture Capital Institutions in Zhejiang Province,” and a “Star Enterprise in Financial Investment in Zhejiang Province.”

Beituo Capital, established in 2013, is a digital startup service platform. Adhering to its mission of “helping outstanding enterprises achieve better growth and sustainability,” Beituo Capital focuses on leading companies in the new economy. It has deeply cultivated nearly 20 niche segments across multiple industries, including healthcare, artificial intelligence, enterprise services, education and training, intelligent manufacturing, and new retail. By offering diversified, full-lifecycle equity service products—such as primary market financing, secondary share transactions, M&A advisory, and overseas listing financing advisory—Beituo Capital empowers high-potential, high-quality enterprises in the new economy to accelerate their growth.