MingYi Genomics Completes Nearly RMB 100 Million Series B++ Financing to Advance Domestic Gene Sequencing Market Penetration and tNGS Integrated Solutions

VCBeat has learned at the earliest opportunity that, in recent days,ME Instruments Inc.(hereinafter referred to as “ME Instruments”) completed a B++ round of financing amounting to nearly RMB 100 million. This round of financing was led byManaged by Tianhui CapitalLianyungang Talent Venture Capital FundandJiangsu Jinqiao Private Equity Fundand other institutions jointly invested.

The proceeds from this financing round will be primarily used to construct a large-scale gene sequencing platform production base in Lianyungang, Jiangsu Province, promote the mass production of sequencers and establish a marketing network, and accelerate the medical device registration and approval process for the sequencers.

ME Instruments was established in 2018 and co-founded by Dr. Wu Jian, a seasoned expert and serial entrepreneur in the field of high-throughput genetic diagnostics, along with Professor Jingyue Ju, a renowned scientist in gene sequencing and Director of the Center for Genome Technology at Columbia University. Dr. Wu earned his bachelor’s degree from Peking University and his Ph.D. in Genetic Engineering from Columbia University. After completing postdoctoral research at Johns Hopkins University, he returned to China in 2011 to launch his first venture. The company he founded, MGI (Mayingnuo), has become a leading provider of genetic diagnostics for hereditary diseases in China, boasting extensive experience in the development of high-throughput sequencers and their clinical applications.

ME Instruments focuses on the research, development, and manufacturing of upstream equipment and reagents for the gene sequencing industry. With a professional team dedicated to the R&D and application of sequencing technologies, the company continuously innovates in chemical synthesis and molecular enzymology engineering. It has mastered core sequencing chemistry technologies and holds related patents, possessing independent international intellectual property rights. Within just four years, ME Instruments launched the UniSeq2000, an internationally leading single-color fluorescent gene sequencer.

UniSeq2000 is a desktop, clinically applied NGS sequencer that utilizes microfluidic chip technology combined with proprietary single-color fluorescence sequencing chemistry. By employing sequencing-by-synthesis, it enables genetic sequencing of diverse research and clinical samples. The system offers high accuracy, flexible throughput, ease of operation, and controllable sequencing costs, thereby meeting the testing requirements of various application fields.

Currently, ME Instruments has completed the compatibility assessment and performance validation of this sequencing platform for clinical applications in tNGS, PGS, NIPT, CNV-seq, and cfDNA. Leveraging the UniSeq2000 system, it has developed a comprehensive localized clinical solution. Multiple institutions have already implemented projects for targeted pathogen detection and genetic disease screening. Moving forward, ME Instruments will continue to collaborate with domestic IVD partners to launch new localized solutions.

ME Instruments possesses proprietary international sequencing chemistry patents, enabling controllable sequencer manufacturing costs and flexible sequencing mode designs to meet the demands of diverse clinical application scenarios. When paired with its automated library preparation system, it addresses practical pain points in localized laboratories, such as high operational barriers, expensive startup costs, and the need for batch sample accumulation.

We firmly believe that as genetic testing technology becomes increasingly accessible, it will unlock a broader domestic and international market. ME Instruments will continue to refine its product pipeline and collaborate with clinical application partners to provide integrated solutions encompassing instruments, reagents, and software, thereby accelerating the localization and rapid development of genetic testing.

Tianhui Capital and Jiangsu Jinqiao Private Equity FundIt stated: “Gene sequencers represent a high-growth, high-quality market segment, with the competitive landscape evolving toward diversification. This presents significant opportunities for premium domestic enterprises to achieve import substitution and break through market barriers. ME Instruments has strategically differentiated itself by targeting the localized market of clinical hospitals. Its compact, automated equipment enables simple operation and daily startup, precisely addressing customers’ pain points. Furthermore, the company’s founding team comprises seasoned experts in the field and serial entrepreneurs with proven success. With outstanding core technologies and operational capabilities, ME Instruments holds strong future prospects. We look forward to its products providing better solutions for localized sequencing services in clinical hospitals and third-party testing laboratories as soon as possible.”

Tianhui Capital (i.e., Tianhui Hongyou & Tianhui Sumitomo Mitsui Investment) is a value investor, integrator, and navigator deeply rooted in the healthcare industry, and has gradually expanded its investment layout into emerging industries such as new materials, new energy, and intelligent manufacturing.

The company’s core team has nearly 23 years of experience in equity investment management. It adopts an investment management model of “Fund + Alliance + Ecosystem Chain,” formulates a “Four-Pronged” investment strategy characterized by “Specialization, Early-Stage Focus, Platformization, and Internationalization,” and systematically constructs a post-investment management system based on the “1+1+N” framework, the “3+3” model, and the “100-Day Navigation Assistance” program. This approach accelerates the development of the core businesses of portfolio companies while actively promoting the growth of related emerging industries.

Some typical cases of the company and its team include: Simcere Pharmaceutical (02096.HK), Jinhe Industrial (002597.SZ), Nanomicro Tech (688690.SH), Dian Diagnostics (300244.SZ), Aim Vaccine (06660.HK)/Livanda, Wanbang Pharma (301520.SZ), Baiying Biologics, Tynovabio, Xuanke Biologics, Genetron Health, Magigene, Nuoyuan Medical, Hanhai New Enzyme, Luoqi Biologics, Huijian Technology, Baisai Biologics, WeLion New Energy, Si'airan, Anchu Technology, etc.

Jiangsu Jinqiao Private Equity Fund was established in 2021 as a market-oriented equity investment fund management institution initiated by Lianyungang Industrial Investment Group. Leveraging the resource advantages of its diverse shareholders, Jinqiao Private Equity Fund selects and focuses on high-quality enterprises across China that demonstrate industrial synergy with Lianyungang City. It specializes in layout and resource integration along the upstream and downstream segments of advantageous industrial chains, including biopharmaceuticals, new materials, new energy, and high-end manufacturing, thereby cultivating a cohort of high-tech enterprises and industrial clusters to elevate the level of industrial development. Since its inception, the team has completed investments in over 40 companies, with cumulative investments nearing RMB 2 billion. Among these, six companies, including Union Material, Nuotai Biology, and Zhongfu Shenying, have successfully gone public, while several others are undergoing pre-IPO tutoring.