Polaris Biology Snags ￥70M in Series B

According to VCBeat, on June 24, 2020, Shanghai Chenan Biological Technology Co., Ltd. ("Polaris Biology") announced that it had closed ￥70 million Series B financing, led by Delian Capital, with participation from Volcanics Venture, Baidu Ventures, ETP, Wuxi Financial Holding, Ascendin Fund and Morningside Venture Capital.

Proceeds from the latest round will be mainly used to upgrade the single-celled omics diagnostic platform with mass cytometry (CyTOF) as the core, accelerate the registration and commercialization of the platform as a product for clinical diagnose, and further develop R&D cooperation with clinical experts and innovative pharmaceutical companies.

Founded in 2016, Polaris Biology is a medical technology company focusing on the development and clinical application of single-cell diagnostics. The company is committed to finding out the individual differences and dynamic changes of patients through single-cell technologies, to support the clinical diagnosis and precision therapy. At present, Polaris Biology has two major technology platforms, the CyTOF analysis platform and the circulating tumor cells (CTCs) analysis platform.

Compared with all kinds of analysis technologies of single-cell genomics, the CyTOF platform is mainly for proteomics analysis of biological information, making characterization of clinical disease more directly, which is particularly suitable for the diagnosis in future scenarios, including disease classification (immune system evaluation, tumor heterogeneity analysis, etc.), adjoint diagnostics, and so on. Through accurate patient stratification and dynamic monitoring, CyTOF can significantly improve the effectiveness of therapy, and shorten the process of clinical trials.

Founded in 2011, Delian Capital specializes in the field of tech-driven industries such as high-end manufacturing, cutting-edge technologies, and healthcare. Their investments range from robotics, smart manufacturing, AI, big data, enterprise services, healthcare, etc.

Volcanics Venture was founded in May 2016. It invests in the most promising companies and outstanding entrepreneurs in Internet Innovation, Intelligent Technology, and Healthcare industry.

Volcanics Venture brings a powerful combination of global perspective and local experience to investment management, striving to provide sustainable value-added service to their portfolio companies and bring superior returns to their limited partners.