ChenAn Biotech Secures RMB 70 Million Series B Funding to Advance Clinical Application of Single-Cell Diagnostics

On June 24, Shanghai Polaris Biology Co., Ltd. (hereinafter referred to as “Polaris Biology”) announced the completion of its RMB 70 million Series B financing round. The round was led by Delian Capital, with participation from Volcanic Stone Investment, Baidu Venture Capital, ETP, Wuxi Financial Investment Group, Shengding Investment, and Morningside Venture Capital.

Polaris Biology, established in 2016, is a medical technology company focused on the research and development and clinical application of single-cell precision diagnostic technologies. Polaris Biology is dedicated to revealing individual patient differences and dynamic changes through single-cell technologies, thereby supporting clinical companion diagnostics and precision therapy. The company currently operates two major technology platforms: mass cytometry (CyTOF) analysis and circulating tumor cell (CTC) analysis, with the latter having achieved mature clinical application across multiple medical institutions. This round of financing will primarily be used to advance the deployment of its single-cell omics diagnostic platform centered on mass cytometry, accelerate the regulatory registration and commercialization of the system as a clinical diagnostic product, and further expand R&D collaborations with clinical experts and innovative pharmaceutical companies.

Single-cell technologies have witnessed rapid advancement in recent years, elevating biological scientific understanding to the “single-cell” dimension and bringing revolutionary breakthroughs to translational research and the development of novel diagnostics and therapies. Mass cytometry is an emerging high-throughput single-cell bioanalytical technology that quantifies metal-isotope mass tags, enabling the acquisition of high-throughput proteomic and genomic data at the single-cell level. Leveraging its proprietary technology platform with high entry barriers, this approach allows for more flexible, accurate, and rapid analysis of single-cell multi-omics information, achieving significant breakthroughs in clinical research on cancer, autoimmune diseases, and metabolic disorders.

Compared with various analytical techniques in single-cell genomics, the mass cytometry platform primarily focuses on bioinformatic analysis of proteomics, offering a more direct characterization of clinical diseases. This makes it particularly suitable for future diagnostic scenarios, including disease subtyping (such as immune system evaluation and tumor heterogeneity analysis) and companion diagnostics. By enabling precise patient stratification and dynamic monitoring, it can significantly enhance therapeutic efficacy and accelerate the progress of clinical trials.

Currently, only two companies worldwide—Fluidigm and Polaris Biology—truly possess the core technology. In 2018, the U.S. National Cancer Institute incorporated mass cytometry into the Clinical Trials Guidelines for Tumor Immunotherapy (CIMAC-CIDC). At present, all of the top ten pharmaceutical companies globally have begun utilizing mass cytometry for companion diagnostic evaluation and the development of innovative therapies.

Dr. Wang Yuchong, Founder of Polaris Biology, stated, “Over the past year, Polaris Biology has made substantial progress in the R&D of mass cytometry. We are collaborating with multiple pharmaceutical companies and clinical institutions to develop industry solutions, leveraging high-resolution single-cell data and real-world studies to enhance the clinical efficacy of new therapies and accelerate the development of innovative treatments. We appreciate the support from both existing and new investors. We will further expand our current platform to build the infrastructure for the future pharmaceutical industry.”

Dr. Chen Xinying, Delian CapitalHe stated, “Polaris Biology is a platform company in the field of single-cell omics that leverages high-barrier proprietary technologies to develop innovative applications, providing clinical-grade products and services for precise disease subtyping, companion diagnostics, and innovative therapies. The company possesses one of only two mass cytometry technology platforms globally, and its product development for clinical settings is ahead of competitors. Its liquid biopsy product line has entered dozens of key Grade A tertiary hospitals, supporting clinical diagnostic and treatment decision-making for tens of thousands of patients. Under the leadership of Yu Chong, the management team combines international vision with local execution capabilities, demonstrating both strategic insight and operational effectiveness. The company is poised to become a globally leading innovative enterprise in the clinical application of single-cell proteomics.”

Dr. Shu Xiao, Partner at Shengding InvestmentIt stated: “As a diagnostic innovator focused on the development and clinical application of precise diagnostic technologies at the single-cell level, Polaris Biology has independently developed a mass cytometry system capable of multi-parameter detection of single cells. This system plays a pivotal role in the diagnosis and treatment of complex systemic diseases, such as hematologic disorders and tumor immunology. The company is actively promoting its application in the field of single-cell tumor diagnostics and believes there is significant growth momentum ahead. Shengding Capital has always been dedicated to investing in promising healthcare technology innovation enterprises globally. We are delighted to participate in the growth journey of Polaris Biology.”

Liu Kai, Managing Director of Volcanic Rock Investmentstated: “As an early investor in Polaris Biology, Volcanic Stone is optimistic about its R&D capabilities and technology platform. During our past collaboration, we were deeply impressed by Polaris Biology’s strong execution and global partnerships. Volcanic Stone remains bullish on the development of China’s biotechnology sector and continues to seek out high-growth enterprises within it.”

BV Baidu Venture CapitalIt stated: “Polaris Biology is an outstanding pioneer of next-generation omics technologies. It took the lead in China to develop and implement a single-cell high-throughput protein detection platform at an internationally leading level, and has developed and stocked a rich portfolio of application products tailored to clinical needs, providing innovative solutions for the advancement of precision medicine in oncology. BV remains bullish on the future potential of precision omics technologies in clinical implementation, has made additional follow-on investments in the company, and will continue to strengthen its investment in this sector.”

ETP FundStatement: Precision medicine stems from precision diagnostics. Polaris Biology has entered the precision diagnostics sector with its high-throughput protein detection platform at the single-cell level. Leveraging this capability, the company collaborates with pharmaceutical firms specializing in immunotherapy and other areas, providing novel solutions for the clinical application of drugs. We consistently focus on innovative technologies and products in the healthcare sector. Bullish on Polaris Biology, we have increased our investment in this round, anticipating the clinical implementation of its innovative platform.

Jing Xutian, Vice President of Morningside Venture Capitalstated: “We place great emphasis on technological platforms that introduce new dimensions of information. From the invention of the microscope to gene sequencing and now to mass cytometry, human history has been marked by the continuous development of cutting-edge observational tools to enhance our capacity for self-observation. With the generation of data across new dimensions, coupled with robust capabilities in data interpretation and analysis, novel cognitive insights are inevitable, leading to breakthroughs in therapeutic approaches. The Polaris Biology team possesses both the capability to build new observational platforms and the expertise in bioinformatics and artificial intelligence for analyzing novel data. We believe it will evolve into an integrated diagnostic and therapeutic platform supporting next-generation treatment solutions.”