Cygnus Biosciences Completes RMB 130 Million Series B Financing to Advance High-End Gene Sequencing Platform Led by Chinese Academicians

Recently, Sinobiotech (Beijing) Co., Ltd. (“Sinobiotech”), a domestic manufacturer of high-throughput gene sequencing platforms, announced the completion of a new round of financing amounting to RMB 130 million. This round was co-led by Oriental Yirui (Shanghai) Fund and the Qihang Fund of Zhongguancun Development Group, with participation from Longpan Investment, Jinggong Hongyuan, and Proxima Ventures. General Capital, the lead investor in Series A, continued to increase its investment.

Saina Biotechnology is a high-tech enterprise in China engaged in the research, development, and industrialization of gene sequencing platforms. It is dedicated to the independent R&D of innovative next-generation sequencers, along with supporting chips and reagents, aiming to comprehensively upgrade the clinical application of gene sequencing technology in disease detection, diagnosis, and screening.

The company’s core sequencing technology originates from Professor Xie Xiaoliang, a member of both the U.S. National Academy of Sciences and the American Academy of Arts and Sciences, as well as from Dr. Huang Yanyi and his team, researchers at the Peking University Advanced Innovation Center for Genomics (ICG). Professor Xie is an internationally renowned scientist and a leading figure in single-cell biology. In 1999, he was appointed as a tenured professor in the Department of Chemistry and Chemical Biology at Harvard University, becoming one of only two tenured professors from mainland China at the university at that time. Dr. Huang Yanyi currently serves as a professor at the College of Engineering, Peking University, and previously acted as the chief expert for the “Research and Development of Next-Generation Sequencers and Supporting Reagents” project under China’s National High-Tech Research and Development Program (863 Program).

In addition to the two experts from the Science and Technology Committee, the company’s management team also boasts strong international backgrounds. Lei Wu, Co-founder and CEO of the company, holds a Ph.D. from the University of Chicago in the United States. As a seasoned scientist and entrepreneur in the industry, he founded AVIVA in the U.S. and later served as President of Fortebio (China), where he led the development of real-time protein analyzers and oversaw corporate mergers and acquisitions.

The company has established a high-caliber, specialized team with multidisciplinary expertise, comprising nearly 100 professional and technical staff. Among them, individuals holding doctoral and master’s degrees each account for more than one-third of the R&D department. The instrument engineering team is entirely recruited from top-tier domestic IVD enterprises and possesses extensive experience in the development of clinical medical equipment.

It is reported that Saina Biotech has completed the research, development, and validation of its core technologies—Fluorogenic technology and Error-Correcting Code (ECC) technology—and has successfully developed its first-generation prototype. The prototype matches or even surpasses comparable international models in terms of sequencing cost, accuracy, and turnaround time.

Wu Lei stated, “Our independently developed platform offers a price advantage and matches the technical capabilities of comparable foreign equipment. It is our dream, pursuit, and goal to develop high-end sequencing technology platforms that align with clinical practice and meet public needs. This objective is closely integrated with national strategies for innovation-driven development and enhancing the level of ‘Intelligent Manufacturing in China.’ The success of this financing round also demonstrates the confidence that leading investment institutions have in us. Our proprietary innovative technologies, our rapidly growing and outstanding R&D team, and the resources provided and leveraged by various partners all serve as strong guarantees for the successful achievement of our strategic goals.”

Bao Jingming, General Manager of Universal Ventures, stated, “Saina Biotechnology’s sequencing platforms and products will accelerate the widespread adoption of precision medicine across China’s vast clinical healthcare market.”

Zhang Lu, General Manager of Orient Yirui, stated, “Sina Biology’s research and development of original gene sequencers, along with their supporting chips and reagents, represents the strategic high ground of the entire gene sequencing service industry chain, characterized by high technical barriers and strong value-added potential. We are very optimistic about this field. Our investment objective is to accelerate the growth of technology-driven companies like Sina Biology that possess core patents, core technologies, and core products. Sina Biology fully meets our expectations.”

Long Yibin, Assistant to the General Manager of Zhongguancun Development Group, stated, “The core industries that Zhongguancun Development Group will focus on in the future are the information technology industry and the big health industry. With technological support from Peking University and guidance from the successful experiences of commercial leaders, we are confident in the growth of Sina Biology and the implementation of the national strategy for precision medicine.”

Yu Zhihua, Executive Partner of Longpan Investment, stated: “Saina Biotech’s gene sequencer products feature independently developed, leading-edge technologies across all key areas, including architecture, reagents, and application algorithms. Leveraging a novel luminescence mechanism and advanced algorithms, the company has initially established cost and efficiency advantages competitive with mainstream international gene sequencing platforms. We look forward to the prompt market launch of these products.”

Following this round of financing, Saina Biology will accelerate the optimization and improvement of industrial prototypes, the production of instruments and chips, and the regulatory registration of related products.