ChosenMed Technology Announces Nearly RMB 100 Million Series A Funding to Build a Dual-Driven Oncology Testing Group Integrating Innovative Technologies and Medical Services

Image from the official website of QuestMed

In May 2018, Gene+ Medical Technology (Beijing) Co., Ltd. (hereinafter referred to as “Gene+ Medical”) announced the completion of its Series A financing round, raising nearly RMB 100 million. The round was led by Mefang Capital and Honghui Capital, with participation from follow-on investors including Data Capital. The funds raised will be primarily used for the translation of Gene+ Medical’s proprietary technologies in the field of tumor detection, the establishment of laboratory platforms, product research and development, construction of production bases, and market expansion.

Founded in 2017, GenePlus is committed to becoming a global leader in comprehensive oncology products and services. Its core team members hail from top-tier domestic biopharmaceutical groups, bringing extensive experience in technology R&D and management.

Dr. Zhou Qiming, President of Qiuzhen Medicine, earned his doctorate from the Institute of Microbiology, Chinese Academy of Sciences. He has previously served as Director of the Technical Department at BGI Clinical Laboratories and as an Associate Researcher at the Institute of Microbiology, Chinese Academy of Sciences, accumulating extensive R&D experience in fields such as genomics. Throughout his career, Dr. Zhou has published more than 30 academic papers, led eight major national and Chinese Academy of Sciences special projects, and obtained three granted patents. He possesses substantial expertise in the operational management of medical testing laboratories.

Currently, the company’s product portfolio spans early cancer screening, prevention and diagnosis, dynamic monitoring, medication guidance, prognostic assessment, and big data analytics in bioinformatics. It is strategically deploying a comprehensive suite of oncology testing products across the entire industry chain, with a focus on guiding targeted therapy for solid tumors and predicting responses to cancer immunotherapy. Key areas of emphasis include specialized testing for non-small cell lung cancer (NSCLC) and hematologic malignancies.

QiuZhen Medicine is headquartered at Jinghai Industrial Park in the Beijing Economic-Technological Development Area. Its subsidiaries include Beijing QiuZhen Medical Laboratory Co., Ltd., Zhengzhou QiuZhen Medical Laboratory Co., Ltd., Hangzhou QiuZhen Medical Laboratory Co., Ltd., Nanjing QiuZhen Gene Technology Co., Ltd., Hangzhou QiuZhen Diagnostic Technology Co., Ltd., and Beijing QiuZhen Medical Device Co., Ltd.

The company has initially established a comprehensive industry chain layout that encompasses upstream instrument and reagent manufacturing, midstream third-party specialized oncology testing laboratory chains, and downstream genetic big data analysis and translational medicine technology services. The company plans to make substantial investments to introduce the world’s most advanced second- and third-generation high-throughput sequencing instruments, digital PCR systems, and mass spectrometry platforms, with the aim of building a world-class translational medicine R&D center.

Dr. Zhou Qiming, President of Qiuzhen Medicine, stated: “Our vision is to explore technological innovation and strive for excellence in medicine. Through technological innovation, we aim to provide higher-quality services and products to physicians and patients, grounded in our pursuit of medical excellence, to promote the well-being of public health. Moving forward, we will focus on strategically deploying products such as specific detection assays for non-small cell lung cancer and hematologic malignancies.”

Liang Zhanchao, Partner at Mifang Capital, stated: “QiuZhen Medicine aligns with our investment philosophy, as it possesses mature and stable technology, a high-performing team, and a sound business model.”

He believes that the dual-engine drive of innovative technology and medical services creates a certain degree of differentiation from other companies’ products. They are optimistic that Genetron Health can bring positive changes to the market.

He Xing, Partner at Honghui Capital, stated, “The team at Qiuzhen Medicine and their work ethic have left a profound impression on us. We are confident that Qiuzhen Medicine will stand out in the highly competitive oncology testing industry by leveraging its proprietary technologies and high-quality services, thereby delivering maximum medical value to physicians and patients alike.”

Deng Ying, Investment Director at Data Capital, expressed her agreement, stating, “We are delighted to partner with Gene+ Medical. We hope that through this round of financing, Gene+ Medical will further highlight the advantages of its products, assist more oncology experts and patients across China, ensure they receive optimal medical services, and thereby realize the company’s vision.”