Weiyan Medical Closes on $1.4M Angel Round Financing

According to PEdaily.cn, Weiyan Medical has announced the closing of its angel round funding of tens of millions yuan (US$1.4 million), led by Mefund Capital. Proceeds of this financing will be used to develop a series of diagnostic products of clinical infection based on high throughput sequencing technology of metagenomics, and apply for the registration.

Weiyan Medical focuses on the detection of pathogenic microorganisms in clinical infection. The company has built two technology platforms, based on ultra-broad spectrum metagenomics and ultra-fast microfluidic chip, for a series of clinical infection pathogen diagnosis products, so as to realize accurate diagnosis of pathogens in clinical infectious diseases.

As the first batch of pathogenic microorganism inspection practitioners in China, the founding team of Weiyan Medical has explored in pathogenic microorganism infection diagnosis for nearly 20 years, developing detection products based on the next-generation high-throughput sequencing platform. Those products got great evaluation and reputation in the state authority and the market.

In the field of pathogen microbial molecular diagnosis, Dr. Zhang Yan led and witnessed the rapid development of metagenomics in recent years and founded Weiyan Medical with his long-time partner Dr. Gai Wei.

Weiyan Medical’s metagenomic detection of infectious agents covers 24,000+ pathogens. The company will set up research and development centers and production workshops in compliance with GMP in Beijing. It will also set up medical laboratories in many places throughout the country to provide clinical pathogen metagenomic testing services.

Founded in 2014 at China's financial hub-Shanghai, Mefund Capital is an investment fund.

The business of Mefund Capital has reached many parts of China, with offices branches established in Beijing, Shenzhen, Zhejiang, Fujian, Shandong, and Jiangxi. Currently, it manages11 investment funds, of which the amount value has reached to nearly 800 million yuan.

Mefund Capital mainly invests in the healthcare and bioscience industry. The financial services include equity investments(VC/PE), PIPE, FOF (Fund of Funds), securities investing, M&A and etc.