Well HealthCare Technologies Completes Tens of Millions RMB Series A Financing to Accelerate Innovative Diagnostic Product Development

Following the completion of its Pre-A financing round in 2019, which was led by Miracle Light Fund (affiliated with BGI) and participated by SDIC Venture Capital Fund and Yanmucao Investment, the company has been rapidly and systematically advancing its R&D and industrialization initiatives:

1) The nearly 800-square-meter R&D center and administrative headquarters located at the Herui Technology Park in Binjiang, Hangzhou, have commenced operations. The facility is equipped with multiple internationally and domestically leading MALDI-TOF mass spectrometry analysis systems, as well as advanced laboratories for the research and development of nano-mass spectrometry chips and reagents. It also boasts a comprehensive clinical sample bank and an integrated AI algorithm and software R&D system. Huijian’s R&D center has attracted Ph.D. and master’s graduates from top universities both in China and abroad to develop globally innovative diagnostic products;

2) Construction of the GMP-compliant production facility, covering over 2,200 square meters, has been completed; in the second half of this year, it will enter the phase of three-batch trial production for the first product and submission for registration testing.

3) Initiated the construction of a third-party medical testing laboratory covering nearly 800 square meters, with approval for the medical institution practice license expected by early next year, followed by commencement of operations;

4) Established the wholly-owned subsidiary Huixin Sensing, achieving significant progress in the fields of artificial olfactory systems and personal health monitoring;

5) The company’s innovative diagnostic methodology platform continues to expand, having established a mature and stable high-throughput mass spectrometry and biosensing diagnostic system with multi-omics (peptidomics, metabolomics) and multi-sample (blood, urine, saliva, exhaled breath, cells, tissues, etc.) detection capabilities. This system offers significant advantages in terms of high throughput, high accuracy, high stability, and low cost.

6) Significant progress has been made in multiple products within the R&D pipeline. The ClinMS-Plat® I Mass Spectrometry Diagnostic Analysis System, the world’s first system of its kind for tumor peptide profiling developed in collaboration with an industry leader, is about to roll off the production line. The company has established its first Bio-pSi® liquid biopsy diagnostic reagent for colorectal cancer along with an AI-based diagnostic model, achieving an accuracy rate exceeding 90%. In double-blind testing using clinical samples, the average accuracy rate exceeded 85%, with a notable blind-test accuracy of 89.5% for early-stage colorectal cancer, thereby overcoming the high rate of missed diagnoses associated with early detection via liquid biopsy for colorectal cancer.

Huijian Technology: Actual Photos of GMP Manufacturing Facility and R&D Center

Amid the epidemic prevention and control measures and the complex economic landscape in 2020, the company successfully completed its Series A financing, demonstrating the recognition by both new and existing shareholders of the company’s value, technological innovation capabilities, and industrialization prospects. This round of financing will further accelerate the company’s efforts in building its innovative diagnostic methodology platform, product research and development, and industrialization layout. With the support of its new and existing shareholders, Huijian Technology will leverage diverse industry resources and talent, committing to making precision medicine accessible and affordable, and striving to establish itself as a pioneering sci-tech innovation enterprise in the health industry at an early date.

Zhejiang Huarui Holdings Co., Ltd., founded in 2002, is China’s earliest private institution to raise and manage private equity funds. It was the first to propose and implement the “Investment + Services” model, consistently adhering to industrial investment and supply chain layout strategies. As an investment management firm, it pursues distinctiveness, professionalism, stability, and reliability. Under Huarui Investment, there are over 60 funds with more than RMB 10 billion in assets under management. The company has cumulatively invested in over 160 projects, with a post-investment IPO rate exceeding 20%, making it one of the domestic investment institutions with a large number of investments and a high success rate for listings.

SDIC Venture Capital Management Co., Ltd. (hereinafter referred to as “SDIC Venture Capital”) was established in 2016 as a fund management company operated independently by SDIC Group on a market-oriented basis. Currently, it manages four funds with a total scale of RMB 14 billion. Adhering to the mission of “serving national innovation strategies and focusing on the commercialization of scientific and technological achievements,” SDIC Venture Capital fully balances policy guidance with investment return objectives in its innovative practices for industrializing scientific and technological outcomes. It is committed to implementing national development strategies, striving to achieve win-win outcomes for the government, society, and the market, and aims to become a leading, specialized fund management institution that is “idealistic, trustworthy, respected, and influential.”

Thunderstorm VC is an emerging early-stage investment firm focused on the healthcare sector. It pioneered the “TOP A” investment philosophy, which prioritizes investing in individuals—specifically life scientists and physician entrepreneurs. With deep expertise in the healthcare industry, Thunderstorm VC leverages its professional capabilities, extensive resources, networks, and channels to provide portfolio companies with specialized support in subsequent financing rounds, strategic planning, partnership development, resource matchmaking, recruitment of top-tier talent, establishment of advanced corporate governance systems, and mergers and acquisitions.