Salus Biomed Completes Hundreds-of-Millions RMB Series A Financing to Advance Industrialization of Sequencing and Spatial Omics Platforms

VCBeat has learned that Shenzhen Salus Medical Technology Co., Ltd. (hereinafter referred to as “Salus”) recently announced the completion of its Series A financing round, amounting to hundreds of millions of yuan. The round was led by SCGC, with Qianhai Fund of Funds and BioTrack Capital serving as co-lead investors. BIOCHING CAPITAL, Dunhang Capital, and Yazhouwan Venture Capital participated as follow-on investors. The proceeds will be allocated to the continued R&D and regulatory registration of Salus’s proprietary gene sequencing platforms and spatial omics products, as well as to global commercial expansion.

Salus, founded in October 2020, specializes in the development of upstream sequencing platforms with independent intellectual property rights and internationally leading super-resolution spatial omics platforms. Committed to technological iteration and innovation in scientific instruments, the company aims to break industry monopolies while providing high-quality solutions to meet the growing demands of clinical and research applications.

This funding round also marks another significant milestone for Salus following its financing completion last October, reflecting investors’ recognition of the company’s sustained R&D investment and progress in industrialization.

In recent years, the global gene sequencing market has maintained a rapid growth trajectory, driven by continuous technological iteration and innovation, with broad application prospects. According to reports from Markets and Markets and Frost & Sullivan’s *Report on the Global and China Life Sciences Integrated Solutions Industry*, the global market size for gene sequencers and consumables is projected to reach USD 24.58 billion by 2030, while the corresponding market in China is expected to reach RMB 30.39 billion.

For a long time, the global gene sequencer market has been monopolized by multinational giants such as Illumina and Thermo Fisher. As the pinnacle of technology in the life sciences sector, and given the unique nature of genomic data, striving for a position upstream in the industry chain and achieving full domestication of equipment and components are crucial to the healthy future development of the industry.

Meanwhile, as genomics and multi-omics research rapidly transitions and translates from scientific inquiry to clinical practice, specialized applications are imposing diverse requirements on tools, thereby presenting new challenges to sequencing and other technological platforms.

Salus leverages proprietary technological innovations to address critical bottlenecks and emerging challenges. In the three years since its establishment, the company has achieved rapid growth, building a closed-loop industrial chain that has realized full domestic production of optics, fluidics, chips, and reagents. It has also integrated multiple innovative technologies into its products, including wide-field imaging, high-efficiency sequencing enzymes, and rapid chemistry.

Meanwhile, the company sets requirements for product R&D and positioning based on real-world scenarios, and adopts a platform-based R&D approach that leverages local structural consistency to accelerate development speed and enhance efficiency. As a result, its products demonstrate accuracy, speed, and flexibility on the client side, better aligning with end-market demands.

In the field of spatial omics, Salus has launched a one-stop solution for submicron-resolution spatial transcriptomics, built upon its proprietary sequencing platform. This solution covers the entire workflow—including chips, biochemistry, sequencing, and bioinformatics—and provides comprehensive, multi-dimensional omics data. The company has already achieved remarkable results in scientific research and has entered the stage of commercial translation.

The company consistently pursues technological innovation and iteration, while rapidly expanding its business partnerships and commercialization capabilities. Its continuous breakthroughs in sequencing and spatial omics stem from the team’s ongoing transformation and leadership in optics, biochemistry, chip technology, and algorithms, which will also foster the healthy development of China’s biopharmaceutical industry in both research and clinical applications.

Meanwhile, Salus emphasizes the integration of technology and business operations both domestically and internationally, focusing on the continuous expansion into global markets. By leveraging its technological and supply chain advantages, Salus is driving the overseas deployment of its sequencers and spatial omics solutions.

Regarding this round of financing,Zhou Yi, General Manager of SCGC Hongtu Healthcare Fund“It stated: ‘Gene technology is one of the future industries. Genetic data is crucial to national genetic information security, and gene sequencing equipment represents a vital national asset that combines high-end scientific instruments with advanced medical devices. The Hongtu Medical Fund adheres to SCGC’s investment philosophy of “investing in what the nation needs,” with a focus on hard-core technologies. The breakthroughs and innovations achieved by the Salus team in the field of sequencing equipment manufacturing will break the long-standing situation where domestic enterprises have been constrained by overseas companies, holding significant strategic importance for information security and public health.’”

Li Shengnan, Managing Director of Qianhai Fangzhou“The downstream applications of high-throughput sequencing are extremely broad, covering three rapidly growing fields: reproductive health, oncology testing, and infectious disease detection. They also extend to emerging high-potential niches such as spatial omics, molecular breeding, and gene synthesis. Given the high technical barriers and substantial product costs associated with sequencers and their consumables, we remain firmly optimistic about the future prospects of domestic sequencer manufacturers. Salus boasts a diverse and well-balanced team with robust technical accumulation and innovation in foundational disciplines including chemistry, enzymology, optics, and mechanics, coupled with exceptional execution capabilities. The company achieved the leap from zero to commercialization of its sequencer in just two years. We believe Salus is destined to become a highly influential high-tech enterprise in the sequencing field.”

Li Han, Vice President of Investment at BioTrack Capital“We are honored to participate in this round of financing for Salus. This investment represents another strategic move by BioTrack Capital in the field of life science tools. The gene sequencing industry spans both life science research and clinical diagnostics, offering a market potential worth tens of billions of yuan and characterized by exceptionally high technical barriers. Under the leadership of a founding team with profound technical expertise and exceptional execution capabilities, the company’s high-throughput gene sequencing system has gained widespread recognition among customers, while its other core product, spatial omics, has entered the commercialization phase at a leading position in China. We believe that driven by the dual advantages of sustained growth in downstream demand and the trend toward domestic substitution, Salus will enter a period of rapid growth and contribute to the high-quality development of the industry.”

BIOCHING CAPITAL General Manager Liu Mingyu“Salus stands at the intersection of two powerful drivers: the continued widespread adoption of clinical applications for gene sequencing and the rapid rise of domestic brands. Furthermore, emerging technologies and methodologies such as spatial omics are becoming essential tools in both scientific research and clinical practice. As a rising force in the sequencing industry, Salus has assembled a multidisciplinary team of nearly 200 professionals within just two years and successfully launched high-performance sequencers and spatial omics products, demonstrating the founding team’s exceptional leadership, execution, and creativity. We believe that Salus’s innovative products will drive the equitable expansion of downstream clinical early screening and accelerate basic research, aligning closely with BIOCHING CAPITAL’s philosophy of ‘Supporting the nation and benefiting society, fostering collective success; remembering our roots, shining for the world.’”

Shi Tailei, General Manager of Dunhang Capitalstated: “Gene sequencers are core tools for life science research, and Chinese companies have the potential to overtake competitors on the bend. Salus demonstrates strong technological innovation capabilities and has rapidly grown to become one of only three companies in the market offering a comprehensive portfolio of low-, medium-, and high-throughput sequencing products. We are optimistic about the company’s long-term development.”

Relevant Person in Charge of Yazhouwan Venture Capital“It is believed that Salus is a leading enterprise in the domestic sequencing sector. Sanya Yazhouwan Venture Capital’s participation in this investment round aims to foster deep collaboration across the upstream and downstream segments of the Yazhou Bay biological breeding industry chain, thereby promoting the application of genomics in biological breeding and the commercialization of related technological achievements.”

SCGC is committed to its mission of discovering and empowering great enterprises, striving to be a discoverer and cultivator of innovative value. Since its establishment in 1999, SCGC has managed total assets exceeding RMB 460 billion, invested in over 1,400 innovative high-tech enterprises, among which 262 have achieved public listings. Its portfolio spans industries such as information technology, biotechnology/health, new energy/energy conservation and environmental protection, new materials, and intelligent manufacturing, covering the full life cycle of enterprises.

Established in 2018, the SCGC Hongtu Medical and Health Industry Fund is the first medical and health industry fund launched by Shenzhen Capital Group Co., Ltd. (SCGC) as part of its “specialization” strategy. The fund focuses on identifying high-quality investment targets with strong innovation capabilities and significant growth potential to drive industrial development. It has invested in a portfolio of outstanding companies, including Akeso, YHLO, PolyMed, Laekna Therapeutics, Hanovo Medical, Medcaptain, Union Medical, GenFleet Therapeutics, Yuanhua Intelligence, Ant Medical, and Helis Gene.

Qianhai Ark is a market-oriented fund management institution jointly established by Mr. Jin Haitao, a prominent figure in China’s capital markets and venture capital industry, alongside leaders from the financial investment sector. Headquartered in Shenzhen, it maintains branch offices in Beijing, Shanghai, Zhengzhou, Qingdao, and other cities. Currently managing assets worth RMB 70 billion, the firm has cumulatively invested in 2,000 direct and indirect equity projects since its inception, fostering 123 listed companies and 72 unicorn enterprises.

BioTrack Capital, established in 2017, is a professional investment firm dedicated to investing in and incubating outstanding healthcare startups in the Chinese market. Currently, BioTrack Capital manages two RMB funds and two USD funds, with total assets under management approaching RMB 10 billion. More than just an investor, BioTrack Capital serves as a long-term partner to entrepreneurs. Since its inception, the firm has remained entrepreneur-centric, consistently supporting and actively empowering exceptional founders in the healthcare sector, fostering an industry ecosystem, and cultivating the next generation of leading enterprises in China’s healthcare industry.

BIOCHING CAPITAL, established in 2016, is an emerging fund management firm in a phase of rapid growth. It focuses exclusively on enterprises in the life and health sector, employing a strategy of high focus and in-depth exploration. Within less than five years since its inception, BIOCHING CAPITAL, as a fund manager, has successfully launched nearly ten funds and invested in and incubated more than 30 companies, covering fields such as medical devices, in vitro diagnostics (IVD), pharmaceuticals, and healthcare services. The company’s core team members hail from renowned medical enterprises including Mindray Medical, Lepu Medical, Neptunus Group, and 3SBio Inc. With years of immersion in the healthcare industry and venture capital, they possess profound professional backgrounds, extensive practical experience, and strong capabilities in technical understanding and market analysis. Currently, the private equity fund manager brand of BIOCHING CAPITAL has begun to establish its influence, securing capital commitments from the Shenzhen Angel Mother Fund, the Shenzhen Pingshan Government Guidance Fund, as well as multiple listed companies and well-known enterprises.

Dunhang Capital is a professional equity investment management institution registered in Suzhou Financial Town. Established in March 2017, it serves as the Vice President Unit of the Suzhou Venture Capital Association, a member unit of the Jiangsu Province Venture Capital Association, and one of the first batches of excellent venture capital teams recognized by the Jiangsu Provincial Development and Reform Commission. Dunhang Capital currently manages funds totaling nearly RMB 2 billion, with a focus on investing in high-growth enterprises in sectors such as advanced manufacturing, healthcare, new materials, and energy conservation and environmental protection.

Sanya Yazhouwan Venture Capital Co., Ltd. serves as the government guidance fund entity for the Sanya Yazhou Bay Science and Technology City. Committed to cultivating an industrial ecosystem through financial instruments such as industrial investment funds and equity investments, the company promotes the agglomeration of industries including nanfan (seed breeding), deep-sea technology, and life sciences. By collaborating with venture capital fund management institutions, it leverages fiscal funds to amplify their impact, increases the supply of venture capital in the Yazhou Bay Science and Technology City, and supports entrepreneurship and technological innovation among early-stage small and medium-sized sci-tech enterprises.