Singleron Biotechnologies, a Chinese biotechnology start-up providing molecular diagnostic services, announced on Friday that it has raised nearly RMB100 million (US$14.57 million) in a series pre-A round of financing led by Beijing-based Sherpa Venture Capital.
Chinese early-stage venture capital company China Growth Capital, and returning investors including Oriza Seed Fund and Frees Fund, also participated in this round.
Founded in January 2018, Singleron Biotechnologies is an innovative molecular diagnostic company dedicated to applying single-cell analysis techniques to clinical diagnosis, health management, and drug development. The Nanjing-based company launched its new product, "GEXSCOPE Single Cell RNAseq Library Kits," in January 2019 to enable RNAseq library to construct from thousands of single cells in parallel.
The company has already worked with over 30 research institutes, hospitals, and pharmaceutical companies in China and internationally, seeking to promote the adoption of innovative single-cell analysis technologies in clinics and drug discovery.
Proceeds of the new round will be used to accelerate the clinical application of its self-developed innovative massive single-cell sequencing technology, including clinical laboratory construction, single-cell clinical database construction, market expansion, and the development and commercialization of new products like automated instruments.
Singleron Biotechnologies secured tens of millions of yuan in a seed round led by Oriza Seed Fund with participation from FreeS Fund in May 2018.
Sherpa Venture Capital, founded in 2018 and based in Beijing, primarily seeks investment opportunities in the pharmaceutical and biotech industries.