Matridx Closes ￥10M Series A Funding Round

According to VCBeat, recently, Matridx Biotechnology Co., Ltd. ("Matridx") has got ￥10 million from CD Capital and announced the closure of its Series A round of fianancing. Previously, Matridx has obtained investment in its Pre-A round from Proxima Ventures, Puhua Capital and other investors focusing on in vitro diagnosis industry.

Matridx was co-founded by Dr. Wang Jun, one of the founding team members of Berry Genomics and Mr. Zhong Jie, the original partners of the Zhejiang Grand Health Industry Equity Investment Fund. As a technology platform based on NGS (Next-Generation Sequencing) and gene editing by CRISPR(Clustered Regularly Interspaced Short Palindromic Repeats) /Cas (CRISPR-associated), Matridx is committed to the innovation of infectious disease testing. 

As the strategic partner of Alibaba Cloud in the application of AI for infectious diseases, Matridx is the only company in China that provides the automatic solution of metagenomic NGS (mNGS) with the macro genome for pathogens. mNGS is simply running all nucleic acids in a sample, which may contain mixed populations of microorganisms, and assigning these to their reference genomes to understand which microbes are present and in what proportions. 

The mNGS technology not only plays a critical role in the rapid identification of novel coronavirus in the coVID-19 epidemic sweeping the world but also becomes the first choice of diagnosis for clinical infections worldwide.

Matridx has self-developed the automatic library construction system NGSmaster of macro genome for pathogens, which greatly reduces the operational complexity of mNGS testing (because of the fully automated process for building the library) and improves the detection speed (8 hours faster than the existing solutions).

At present, Matridx has signed a business cooperation agreement with Illumina, a global leader in DNA sequencing, on the application of NGS technology in the field of diagnosis of pathogenic microorganisms, and has established in-depth cooperation with well-known domestic clinical institutions to conduct scientific researches.

CD Capital is a venture capital firm specialized in life sciences and medical technology. It is currently managing both RMB and USD funds with a total size of $600 million. The company has made over 40 investments with high growth potential and earned a reputation as a premier venture capital firm with the main focus on China healthcare industry.