ChenAn Biotech Secures Tens of Millions of RMB in Series A+ Funding to Advance Mass Cytometry-Based Single-Cell High-Throughput Multi-Omics Diagnostic Platform

On September 5, 2019, VCBeat (WeChat ID: vcbeat) learned that Polaris Biology, a provider of clinical solutions for single-cell precision diagnostics, announced the completion of its Series A+ financing round. The proceeds will be used to continue advancing the research and development and translational applications of its high-throughput single-cell multi-omics diagnostic platform, which is centered on mass cytometry technology. The investor in this round was BV Baidu Venture Capital; the specific amount raised was not disclosed. Previously, Polaris Biology completed an $8.25 million Series A financing round in January 2019, with investment from ETP, Morningside Venture Capital, and Volcanic Stone Capital.

Mass cytometry enables high-throughput, multiparametric detection at the single-cell level by leveraging mass spectrometry principles. By labeling antibodies with isotopic metal probes, this technology overcomes the limitation on the number of fluorescence detection channels inherent in conventional flow cytometry, thereby combining rapid analysis with precise detection capabilities.

Zou Li, co-founder of Polaris Biology, told VCBeat: “Polaris Biology has brought together a group of people who are eager to ‘push boundaries’ and want to do something meaningful for the healthcare industry. We believe that ‘diagnostics’ will play an increasingly important role in tumor treatment scenarios.”

Precision diagnostic technologies form the foundation of precision medicine, and advancements in these foundational technologies hold the greatest potential to thoroughly address clinical challenges. The core team at Polaris Biology has devoted substantial effort to surveying the latest precision diagnostic technologies worldwide, ultimately choosing to focus on mass cytometry (CyTOF) to build a high-throughput multi-omics diagnostic platform at the single-cell level.

Sun Shuangwu, Partner of the Tumor Immunology Division at Polaris Biology, stated: “Currently, Polaris Biology’s high-efficiency mass cytometry technology enables simultaneous single-cell expression analysis of dozens of proteins, including PD-1, PD-L1, and LAG3, while also detecting specific markers for lymphocytes, monocytes, myeloid-derived suppressor cells (MDSCs), and other cell types. Leveraging mass cytometry, we can support clinical and research efforts in evaluating the interactions among tumors, the immune system, and therapeutic regimens with unprecedented resolution, thereby helping to avoid severe adverse effects and providing a systematic, novel perspective for the development and clinical application of new therapies.”

Wang Yuchong, Founder and CEO of Polaris Biology, concluded his interview with reporters by stating, “The global healthcare industry is undergoing a period of rapid change and growth. We are transitioning from a ‘science-driven new drug development’ model to an ‘information-driven new drug development’ model. Diagnosis and treatment are increasingly converging, and the efficacy of many novel therapies depends on the depth, breadth, and accuracy of individual patient data collection. The entire industry will be driven by information. Polaris Biology will also leverage accumulated real-world medical data to explore the potential applications of high-throughput single-cell diagnostic technologies in broader clinical areas.”

BV Baidu Ventures, an investor in this round, stated: “In the face of the complex molecular mechanisms and heterogeneity of tumors, novel immunotherapies have gradually become a mainstream track in the field of new oncology drug development. In this process, biotechnology platforms represented by single-cell omics technologies are increasingly being adopted by major pharmaceutical companies, bringing higher-dimensional and comprehensive biomarker data to the R&D phase. Combined with machine learning algorithms, these technologies are continuously advancing the clinical implementation of new therapies. As a top-tier platform-based startup in China centered on liquid biopsy technology and mass cytometry, Polaris Biology has developed a combination of single-cell multi-omics biomarker detection and AI data analysis solutions. This portfolio is expected to accelerate the deployment of novel tumor immunotherapies and enable truly personalized treatment plans for cancer patients. As a data-driven AI fund, BV has already invested in multiple companies across the upstream and downstream segments of the novel tumor immunotherapy industry chain. Guided by an investment logic focused on technology empowerment and rapid AI-driven closed-loop validation, BV will continue to increase its support for core platform-type projects.”