Respect for Frontline Workers at the Start of the New Year: A Special Chinese New Year Feature

“The capital winter has truly arrived.” This was the most frequently heard statement by VCBeat in 2018.

Fundraising difficulties, financing challenges, and valuation shrinkage have placed both investors and entrepreneurs in a predicament over the past year. Yet, even in these trying times, investment enthusiasm in the biotechnology sector has remained undiminished. Behind these successes lie the solitude of racing against tight schedules under starlit skies, the exhaustion from all-nighters in laboratories, and the heartache of exhausting every plea only to be met with silence...

At the turn of the new year, VCBeat received New Year’s greetings from numerous industry practitioners. These messages contained their reflections on the past year as well as their hopeful aspirations for the future.

Focus less on macro-level narratives and shift from abstraction to substance; major industries must return to genuine value creation.

Entrepreneurship is a sprint-style marathon, demanding constant vigilance and unwavering dedication. We will continue to provide compassionate care for patients, deliver the highest-quality clinical decision support products to medical experts, and supply the most precise cohort data to pharmaceutical companies to accelerate new drug development.

This is the best of times; let us stay grounded and return to common sense.

The changes in healthcare in 2018 were breathtaking. We look forward to deeper and more practical transformations in the medical and pharmaceutical sectors in 2019, truly benefiting patients, improving the healthcare environment, and promoting medical innovation!

In 2019, driven by the rapid advancement of personalized diagnostics and precision therapy, diagnostic methods will become faster, more accurate, and more specific.

Looking Back at 2018, Geneseeq Made Significant Efforts to Promote the Development of Industry Standard Materials with Higher Sample Similarity, Greater Accuracy, and Improved Stability. At the Beginning of the Year, Geneseeq Established Operations in China, Achieving Fully Independent Domestic Production and Launching Tumor Genetic Testing Standard Materials. In the Second Half of the Year, It Initiated a Customized Standard Material Project, Providing Standardized, Precise, and Personalized Services to Multiple Companies within the Industry. Many Top-Tier Enterprises in the Genetic Testing Sector Began Comprehensive Adoption of Standardized Commercial Standard Materials, While Leading Domestic Third-Party Testing Companies Also Started Routinely Using Geneseeq’s Daily Quality Control Materials for Each Batch.

In 2019, Jingliang Genetics will continue to uphold world-class technologies and an objective, rigorous service attitude, setting a strong example for the reference material industry and establishing a standardized Chinese gold-standard platform for in vitro diagnostics.

In 2018, upstream consolidation in the gene sequencing industry accelerated. BGI launched a new ultra-high-throughput sequencer to compete head-on with Illumina in the global market. Traditional gene sequencing companies faced increasing difficulties in securing financing. Liquid biopsy sought new application scenarios and value propositions. Emerging hotspots such as gene therapy, neoantigens, and cellular immunotherapy attracted significant attention and urgently required accelerated capital investment.

Meanwhile, the Sino-US trade war has had far-reaching implications, making hard-tech projects driven by independent innovation increasingly favored. Overall, the difficulties in fund fundraising have begun to affect startup financing, leading to valuation adjustments and the deflation of bubbles.

The new year is not a bad one for companies backed by core technologies and funds with ample dry powder.

"This is not the best year, but it certainly won't be the worst."

In 2018, various industries experienced a downturn, yet the genetic testing sector continued to show positive growth.

The successive promulgation and implementation of national policies have served as a shot in the arm for the industry, while the NMPA’s opening of a green channel to accelerate approval processes has further acted as a catalyst. The domestic genetic testing market is maturing, with cancer early screening offering immense potential and representing a vast blue ocean opportunity.

In a favorable market environment, Rayii Bio has deepened its focus on early colorectal cancer screening and microbiome research, forging in-depth collaborations with hospitals, research institutions, health checkup providers, and insurance companies. The company is committed to building a closed-loop system for gut health management and creating an integrated platform for “prevention, screening, diagnosis, and treatment,” aiming to provide customers with comprehensive diagnostic and therapeutic services.

Looking ahead, RayGene will continue to enhance its platform development and pursue innovative R&D to strengthen and expand the platform, thereby benefiting more people in China. We also wish VCBeat continued success in better serving the entire industry. Let’s work together with vigor in 2019!

“Every person who forges ahead against the biting wind deserves pride.”

2019, Everything Will Be Better.

Appendix: Summary of Selected Articles in the Field of Genetics, 2018

Commercialization Challenges of Microbial Sequencing: Basic Research and Regulation Are Still Being Refined, but the Biggest Challenge Is Time

Dialogue with Illumina: NovaSeq Is Not the Ultimate Weapon, but the Beginning of a New Era in Sequencing

Which Companies Are Attempting to Use Genomics + Blockchain to Address Data Ownership and Privacy Security? Does It Actually Work?

Direct Sales? Agency Model? So This Is How Consumer Genetics Companies Sell Their Products