BioNovoGene Completes ￥100M Series A Financing

(VCBeat) Apr. 29, 2021 -- Suzhou-based BioNovoGene recently announced the completion of a Series A funding round of 100 million yuan, led by YuanBio Venture Capital. Gelu Capital acted as the exclusive financial adviser. The funds raised will be used for the expansion of BioNovoGene's technology platform, development of clinical mass spectrometry test kits and products in the field of metabolomics.

BioNovoGene got its seed round of funding from BOHE Angel Fund and Suzhou Alpharmab in 2016. In 2018 BioNovoGene secured the angel round of financing. BioNovoGene is one of China's earliest and largest companies in metabolomics and is also China's first company conducting clinical and health product research and development of metabolomics.

Based upon the complete sample pretreatment platform, mass spectrometry platform with high resolution, mass metabolites library and core matching algorithm, and its cloud data analysis system BioDeepTM with independent intellectual property rights, BioNovoGene has been providing comprehensive and professional metabolomics services for more than 400 scientific research institutes, more than 300 third-calss hospitals as well as food and pharmaceutical companies at home and abroad, 

The service projects of BioNovoGene include the non-targeted metabolomics, targeted metabolomics, full targets, lipids, flavor omics, space and single-cell metabolomics, with the application for tumors, cardiovascular diseases, metabolic diseases, and related studies of gut microbes, covering more than 80 types of detection analysis services, to provide customers with personalized metabolomics research and clinical solutions. With the expansion of metabolomics in the field of greater health, the company's clinical metabolomics business will reach explosive growth.

Founded at BioBay of Suzhou Industrial Park and portfolio spreading China and globally, YuanBio Venture Capital focuses on early and growth stage life science and healthcare investment. Its total AUM is close to 5 billion RMB. The portfolio includes over 70 companies across BioPharma, MedTech, IVD and Health Services sectors. YuanBio Venture Capital aims to be one of the most successful healthcare venture capital firms in China.