Singleron Biotechnologies Secures a $30M Series A Financing

According to VCBeat, Singleron Biotechnologies, an innovative molecular diagnostic company specializing in high-throughput single-cell multiplex analysis, has recently secured a Series A financing US$30 million, led by Lilly Asia Ventures, with participation from CDH Investment, ARCH Venture Partners, Tencent and a fund under the management of Chenling Capital. Existing investors Sherpa Venture Capital and China Growth Capital continued to inject money in the latest round.

The funds raised will be used to accelerate the further development of Singleron Biotechnologies' single-cell sequencing platform, promote the application of single-cell sequencing technology and related data in drug development, accelerate the domestic commercialization of self-developed products and expand the business overseas.

So far, Singleron Biotechnologies has raised more than 300 million yuan in three rounds of financing.

Singleron Biotechnologies is dedicated to applying groundbreaking single-cell analysis techniques to clinical diagnosis, drug development, and health management. The company was incorporated in January 2018 and currently has offices and laboratories in Nanjing, Suzhou, US, and Germany.

Since its incorporation, Singleron Biotechnologies has quickly developed key proprietary technologies and methods on microfluidic system design, tissue processing, single-cell barcoding and amplification, data analysis algorithms, data mining, and database construction, and applied for over thirty patents and obtained Twenty-seven software copyrights.

GEXSCOPE^® Single Cell RNA reagents and consumables developed by Singleron Biotechnologies, which enable RNA-seq library construction from thousands of single cells in parallel, were successfully launched in January 2019.

Lilly Asian Ventures makes venture capital investments in Asia for Eli Lilly and Company, a global innovation-driven pharmaceutical company. The company mainly invests in promising life science companies with strong management teams and innovative technology and/or business models. Its initial focus is primarily on opportunities in China, although it will take the investments in the east and south Asia into account.

Established in 2002, CDH is one of the leading alternative investment fund managers focused on China today with over US$19 billion of assets under management, as of February 31, 2020. From its roots in private equity, CDH has expanded to become a diversified alternative asset management platform covering: Private Equity, Real Assets, Venture and Growth Capital, Mezzanine & Credit, Public Equities and Wealth Management.