Jingzhun Medical Files IPO Prospectus: Focused on Molecular Diagnostics for Hematologic Malignancies and Empowering Hematology Departments with Integrated Platforms
“Of the three major challenges in tumor pathology, two lie within hematology.” This was the involuntary exclamation made by Ye Feng, a molecular pathology researcher, during his clinical research. Hematologic malignancies are highly diverse and complex; the pathological diagnosis of dozens of blood cancers, such as lymphoma and leukemia, is far from straightforward. “Unlike solid tumors such as breast cancer and thyroid cancer, which have dedicated specialties (breast surgery and thyroid surgery), where physicians simply surgically remove the tumor tissue and send it uniformly to the pathology department for diagnosis, hematologic malignancies undergo initial clinical evaluation in the hematology department and are then sent to the hematology department’s own laboratory for molecular pathological testing and diagnosis,” explained Ye Feng.
Ye Feng earned both his bachelor’s and master’s degrees from Zhanjiang Medical College (now Guangdong Medical University). From 1988 to 1999, he worked in the Department of Pathology and the Central Laboratory of the Affiliated Hospital of Zhanjiang Medical College, successively serving as a teaching assistant, lecturer, associate researcher, deputy director, and director. In 1999, he was promoted to Researcher in Molecular Pathology. With many years of dedicated experience in molecular pathology, Ye Feng has developed a profound understanding of clinical pathological research. He told VCBeat, “In tumor pathology research, hematologic malignancy pathology represents a significant challenge. The incidence of hematologic malignancies is not as low as commonly perceived, and these diseases predominantly affect adolescents and young adults, making the desire for treatment and its associated value even greater.”
Founder of GenomePrecision Medical, Ye Feng
Accurate tumor diagnosis has long been a consensus within the pharmaceutical and medical communities. After leaving academia, Ye Feng joined internationally renowned diagnostics companies Beckman and Roche, serving as Regional Manager for South China and Regional Director, respectively, while maintaining a steadfast focus on the field of in vitro diagnostics. In 2004, Ye Feng joined Da An Gene, where he served as Deputy General Manager overseeing marketing and sales.
In 2012, Ye Feng embarked on his first entrepreneurial venture with the establishment of Beijing Sinomedix Gene Testing Technology Co., Ltd., an in vitro diagnostics (IVD) company specializing in molecular testing for solid tumors and pathogenic microorganisms. During its operation, the company obtained a total of 22 Class III national certificates for molecular diagnostics (genetic testing). In mid-2015, Ye Feng sold his equity stake in the company and exited the team.
Throughout his years of employment and entrepreneurial ventures, Ye Feng has remained steadfastly within the field of molecular diagnostics, aligning closely with his original area of academic specialization. As one of the earliest researchers in China to focus on molecular pathology, Ye Feng notes that current attention in molecular diagnostics is predominantly directed toward the detection of pathogenic microorganisms. In his view, however, the true advancement of molecular diagnostics necessitates expansion into the field of oncology. “The hallmark of cancer lies in genomic alterations. Given this genetic basis, molecular diagnostics undoubtedly holds significant potential for application in this domain,” Ye Feng explained.
In 2016, Ye Feng embarked on his second entrepreneurial venture by founding a new company in his area of expertise, molecular diagnostics: Beijing GenomePrecision Technology Co., Ltd. (hereinafter referred to as “GenomePrecision”). Unlike his first startup, which applied molecular diagnostic technologies to the fields of pathogenic microorganism detection and precision oncology testing, GenomePrecision adopted a more focused and specialized strategy—dedicating itself exclusively to precision medicine in hematology. This makes it one of the few IVD companies in China that specifically empowers a single clinical department.
Ye Feng explained the reasons: “Molecular pathology testing in hematology is generally attached to clinical hematology services, unlike testing for solid tumors, which is handled by specialized pathology departments with complete supporting equipment and instruments. In contrast, molecular pathology diagnosis in hematology is usually conducted within the hematology department’s own laboratory. Compared with professional pathology departments, these laboratories may lack comprehensive supporting equipment, and corresponding technical staff may be insufficiently staffed. Coupled with the complexity of molecular pathology diagnosis for hematologic malignancies, hematology departments in some prefecture-level and even a few provincial medical institutions may fail to meet actual diagnostic needs.”
"Platformization is the solution proposed by GenomePrecision. 'We strive to consolidate as many testing items as possible onto a single public platform, enabling hematologists to perform molecular pathological diagnoses more conveniently and efficiently. Therefore, this guiding principle informs the launch of every new test item,' stated Ye Feng."
Currently, the hematology testing portfolio launched by GenomePrecision covers 31 items, including leukemia, lymphoma, pre- and post-stem cell transplantation monitoring, and detection of blood-related pathogens. The company has obtained four Class III registration certificates from the National Medical Products Administration (NMPA), with two more pending approval. According to the company’s disclosure, clinical trials for a second batch of six tests have been completed, and registration dossiers are ready for submission; clinical trials for a third batch of six tests are currently underway.
In the field of molecular pathology testing in hematology, there are three main areas: hematologic malignancies, anemia, and coagulation disorders. Currently, Beijing GenomePrecision Technology CO.,LTD has fully covered molecular diagnostics for hematologic malignancies, and the company plans to expand its offerings into the areas of anemia and coagulation disorders within the next two years or so.
It is reported that Beijing GenomePrecision Technology CO.,LTD. has established a comprehensive molecular diagnostics technology platform centered on high-end testing instruments, including real-time quantitative PCR (qPCR), first-generation Sanger sequencing, second-generation next-generation sequencing (NGS), capillary electrophoresis fragment analysis, flow cytometry, fluorescence in situ hybridization (FISH), and microfluidic chips.
Leveraging this platform, the company has expanded into four key areas: hematologic malignancies, organ and bone marrow transplantation, novel molecular pathology, and tumor immunotherapy. It provides comprehensive molecular diagnostic and monitoring solutions, along with corresponding product portfolios and service chains. Meanwhile, the company has established in-depth collaborations with numerous renowned enterprises both domestically and internationally, and actively engages in industry-academia-research partnerships with multiple higher education institutions, committed to delivering precise molecular diagnostic products and services to clinical customers.
In terms of collaboration, Beijing GenomePrecision Technology CO.,LTD. partnered with the Shanghai Institute of Microsystem and Information Technology, Chinese Academy of Sciences, at the end of 2017. Leveraging the institute’s cutting-edge expertise in microfluidics, GenomePrecision is developing a microfluidics-based detection system for blood diseases. The integration of microfluidic technology is expected to miniaturize molecular diagnostic instruments, thereby expanding the company’s future growth potential in the field of blood testing. Currently, GenomePrecision has completed part of its R&D efforts in microfluidics, and in 2018, the company secured project approval and funding under the Major Research Program of the Ministry of Science and Technology of China.
Regarding the future, Ye Feng stated that the company plans to submit for registration in 2020 the microfluidics-related equipment developed in collaboration with the Shanghai Institute of Microsystem and Information Technology of the Chinese Academy of Sciences. Furthermore, it will further upgrade the two platforms introduced from Thermo Fisher Scientific—the “Next-Generation Sequencing Platform” and the “Specialized Electrophoresis Platform”—primarily by integrating the company’s proprietary reagent designs. Ye Feng also expressed his expectation: “We hope that GenomePrecision will achieve the milestone of obtaining ten new registration certificates this year.”
It is reported that Beijing GenomePrecision Technology CO.,LTD. has completed its Series A and Series B financing rounds, and the company has launched its final round of fundraising, aiming to raise RMB 150 million. The proceeds will be primarily used for new product applications and expanding sales of existing products.