Analytical BioSciences Closes Series A4 Financing Led by Sequoia Capital China to Accelerate Single-cell Genomics & AI Based Cancer Therapeutics and Diagnostics

May 25, 2021, Analytical BioSciences Ltd. (Abio), a leader in single-cell genomics, today announced the successful completion of Series A4 financing. Sequoia Capital China led this round of investment and was joined by Green Pine Capital Partners and Primavera Venture Partners. IDG Capital, the original founding investor for Analytical Biosciences, also participated in this financing round.

Analytical BioSciences has received investments from SB China Venture Capital, BioMap, Apricot Capital and IDG Capital previously. The successive investments of these well-known venture capitals demonstrate their confidence and the leading position of Analytical BioSciences in single-cell big data. It also gave sufficient cash flow to Analytical BioSciences and laid a solid foundation for the rapid development of Analytical BioSciences.

Analytical BioSciences was founded under the auspices of harnessing the disruptive potentials of single-cell genomics. Since its founding in 2018, Analytical Biosciences has established the world's largest and most comprehensive databases of integrated and curated single-cell genomics data, currently at over 27 million cells. Moreover, it has developed and integrated core analytical and visualization tools to support the explosive needs in the area. The current round of funding would strengthen its leading position in single-cell big data and accelerate the development of robust single-cell analytical systems.

More importantly, it will empower the company to leverage the resolution, integration, and scale of single-cell data to continue to derive biological insights and knowledge on novel cellular targets in order to accelerate drug discovery and development.

"Single-cell genomics data is becoming the cornerstone of drug development, clinical diagnosis, and basic scientific research. Current funding will surely accelerate the further development of single-cell big data platforms, intelligent data analysis processes and in-depth interpretation solutions, thus brings more insights to scientists at Analytical Biosciences and pharmaceutical companies alike. With the ever-expanding bodies of structured and computable big data and an integrated analytical environment, I anticipate greater progress will be made at Pharma/Biotech, universities and other research institutions, as well as at Abio." said Professor Zemin Zhang of Peking University, founder and a scientific advisor of Analytical BioSciences.

"With the single-cell genomic revolution, an astronomical amount of data has been and will continue to be generated, " said Dr. Yangzhou Wang, CEO of Analytical BioSciences. "There is no question that new insights and novel therapeutic interventions would be developed as a result of the single data and more sophisticated analytical methods. The ability to harness the true value of those data will represent the core competitiveness for biotech companies in the future. Analytical BioSciences has built significant momentum in those fronts. We are grateful for the confidence and commitment from Sequoia Capital China, Green Pine Capital Partners, and Primavera Capital in our company. We are grateful for the continued confidence and support from IDG Capital, our original investor. We look forward to working closely with current and future partners to lead the development of single-cell markets and the realization of its enormous potential in transforming drug discovery and healthcare. "

"Sequoia Capital China has long been paying close attention to the technology breakthroughs in the development of innovative drugs and diagnosis, and the emerging of single-cell genomics is precisely one. We are thrilled to see what the Analytical BioSciences team has accomplished in the past few years. The direction of the company's subsequent business development and more potential innovative breakthroughs are worth looking forward to. Sequoia Capital China will continue to leverage its professional team with industry experience to support leading innovative companies such as Analytical BioSciences, offering global resources, empowering enterprises to develop its new technologies and products to benefit the society. " said Jiang Han, Managing Director of Sequoia Capital China.

"As the sole investor who was the first to invest in Analytical BioSiences, IDG Capital has participated in the establishment and development of the company in the past two years, and has also continued investing in the subsequent rounds of financing. We have witnessed the great progress made by the Analytical BioSciences' team under the leadership of Professor Zemin Zhang, and we firmly believe in the broad application prospects of single-cell big data. IDG Capital will continue supporting the development of Analytical BioSciences and the single-cell field. We look forward to seeing more success and achievements made by Analytical BioSciences' technology platform in diverse fields as we move forward together. " said Zixuan Pang, a vice president of IDG Capital.

"As a new round of investors of Analytical BioSciences, we are optimistic in its applications of the single-cell platform and bioinformatics platform in the diagnosis and treatment of diseases under the leadership of Professor Zemin Zhang and the management team to identify and validation of novel cellular targets and biomarkers, and ultimately lead to next-generation breakthrough therapeutics and diagnostics," said Fei Luo, a founding partner of Green Pine Capital Partners.

"Single-cell sequencing technology has advanced from scientific research to clinical applications. In the field of immuno-oncology, the unique advantages of single-cell sequencing in analyzing tumor heterogeneity and immune microenvironment have huge potential. We are highly convinced with the capability of Professor Zemin Zhang and the Analytical BioSciences' team to translate academic achievements into industry practices, and hope that the company would become a leader in the global single-cell field. " said Johnny Zou, co-head of Primavera Venture Partners.

Analytical BioSciences is a single cell genomics company focusing on accelerating the development of novel therapeutics. Our mission is to unlock the mechanism of diseases through the most advanced translational single-cell platforms with the largest, high-resolution databases, and the most comprehensive commercial-grade data analytics. Led by science and data, the company has been and will continue to generate new knowledge and compile/organize insights for the identification and validation of novel cellular targets and biomarkers, which ultimately lead to next-generation breakthrough therapeutics and diagnostics.

The Sequoia team helps daring founders build legendary companies. In partnering with Sequoia, companies benefit from our unmatched community and the lessons we’ve learned over 49 years. As "The Entrepreneurs Behind The Entrepreneurs", Sequoia China focuses on three sectors: TMT, healthcare and consumer/service. Over the past 16 years we've had the privilege of working with more than 600 companies in China. For more information, visit www.sequoiacap.com/china/en.

IDG Capital is a leading investment firm, focused on developing extraordinary companies through our expertise in private equity and venture capital, as well as real estate. Founded in 1992 with the help of Mr. Patrick J. McGovern, Founder and Chairman of International Data Group, IDG Capital were the first firm to bring foreign venture capital into China. Today it works with private equity and venture capital fund managers, investment advisors and business entities from around the world. Its limited partners include many internationally reputable investors, including sovereign wealth funds, pension funds, institutional investors, major charities, university endowments, family offices and business luminaries.

Green Pine Capital Partners was founded in 1996 by Wei Li and Fei Luo. It is one of the long-established venture capital institutions in China. The core team has more than 20 years of technology investment experience. It has rich investment experience in digital economy, new materials, biomedicine and other high-tech fields. It has always focused on innovative technologies and the construction of technology platforms, discovering future stars through professional capabilities, and assisting corporate growth through capital operation experience. Currently, Green Pine Capital Partners manages more than 16 billion yuan in assets. It has invested in nearly 400 projects, half of which are early-stage technology projects, 55 projects have exited through IPOs or mergers and acquisitions by listed companies.

Primavera Venture Partners ("PVP") is an early-stage investment platform under Primavera Capital Group that focuses on artificial intelligence and its related vertical applications, healthcare and climate action related opportunities, etc. PVP's mission is to partner with the most visionary founders and use AI to solve some of the world’s toughest problems.

Primavera Capital Group is a China-based global professional investment firm with AUM of over 10 billion US dollars. Primavera was founded in 2010 by Dr. Fred Hu, a renowned economist and successful investor. Its portfolio companies include Yum China, ByteDance, Alibaba, Kuaishou, DiDi, Hello, Xpeng, Junlebao, SenseTime and other first-class enterprises.

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