Nanjing-based biotech startup Singleron Biotechnologies has recently raised nearly $100 million in an oversubscribed Series B round led by a healthcare industry-focused investment firm, Lake Bleu Capital.
The funding round saw participation from new investors MSA Capital and Firstred Capital along with returning investors-Lilly Asia Ventures, SBCVC (SoftBank’s China arm), CDH Investments, Sherpa Healthcare Partners, ARCH Venture Partners, among others.
The startup plans to use the fresh funding for its Research & Development, commercialization of products, as well as to expand in international markets.
About Singleron Biotechnologies
Founded in 2018 by Nan Fang and Jing Zhou, Singleron Biotechnologies develops and distributes biotechnology products. The startup leverages single-cell sequencing technology and analysis for clinical diagnosis, health management in both clinical usage and research, and drug development product and services.
The firm specializes in single cell analysis, data sciences, automation, molecular diagnosis, single cell sequencing, microfluidics, multiomics, innovation, cancer research, drug discovery, precision medicine, and clinical research.
The company aims to overcome the limitations of the state-of-the-art single cell analysis. With its technology, Singleron wants to introduce novel approaches in molecular diagnostic and clinical research.
Singleron has obtained a worldwide exclusive IP license from Yale University for its uniquely designed microfluidic single cell processing device. The startup has also developed the innovative SCOPE single-cell pre-sequencing preparation system that is based on this microfluidic device. It comprises of collection and preparation of tissue samples as well as RNA analysis at single-cell level.
The startup has served more than 1000 laboratories in pharmaceutical companies, hospitals, and research institutes. Singleron has set up its overseas branches in New Haven in the US and Cologne in Germany.
Singleron is backed by an array of investors. Last year in September, the startup had raised $30 million in a Series A++ round that was led by LAV along with participation from ARCH Venture Partners, Tencent, and Sherpa Healthcare Partners.