Mozhuo Biotech Announces $23 Million Series A Financing to Accelerate The Commercialization Of Multi-omics Product Lines

September 9, 2021 03:30 PM Eastern Daylight Time

Mozhuo Biotech (Zhejiang) Co., Ltd. (“Mozhuo Biotech”), a leader in single-cell sequencing, recently announced the closing of its Series A financing of $23 million to accelerate the commercialization of multi-omics product lines. The Series A financing led by Huagai Capital, Source Code Capital and Proxima venture to continuously enrich and improve Mozhuo Biotech’s MobiNova™ single-cell multi-omics product line, including systemic single-cell sequencing solutions such as transcriptome, immune VDJ analysis and ATAC, and to accelerate product launch and commercialization, expanding Mozhuo’s single-cell sequencing products from scientific research to drug development and clinical testing.

Dr. Pei Hao, founder and CEO of Mozhuo Biotech, said: “Thanks to Huagai Capital, Source Code Capital, Proxima Venture and all investors for their trust and support to our team. Relying on years of technology accumulation, Mozhuo Biotech serves precision medicine and life science research, and will soon launch MobiNova™ single-cell multi-omics product line. This round of financing will greatly accelerate Mozhuo Biotech’s single-cell sequencing business. The machine, reagents, bioanalysis software and other related products will be publicly tested in December of 2021. We are looking forward to in-depth cooperation with experts and partners.

“Single-cell sequencing technology is a revolutionary achievement from my laboratory at Harvard University. Mozhuo Biotech was founded by two of my outstanding PhDs. Mozhuo Biotech has a world-leading microfluidic technology platform and has rich experience in the field of single-cell sequencing. I congratulate Mozhuo Biotech for completing the Series A financing, and I’m very happy to see their rapid progress. I will continue to support Mozhuo Biotech to move forward,” said Professor David Weitz, the co-founder and CSO of Mozhuo Biotech.

About Mozhuo Biotech

Mozhuo Biotech, Mzbio’s parent company, was founded at Harvard University in 2018. Based on the cutting-edge third-generation microfluidic technology patent matrix, Mozhuo Biotech is committed to creating a more accurate, faster and more practical new molecular diagnostic and life science research platform. Upgrade the quality of diagnosis and testing, improve the level of life science research, and bring more efficient solutions to scientific researchers, doctors, and patients. After three years of development, Mozhuo Biotech has built the world’s leading multi-omics high-throughput single-cell sequencing platform, with dozens of cooperative institutions, including head hospitals, well-known pharmaceutical companies and scientific research institutes.

About Huagai Capital

With the Mission of “ becoming the most trusted capital partner for entrepreneurs and investors”, Huagai Capital focuses on private equity investment in the three major areas: healthcare, TMT, and digital innovation. The accumulated fund size under management is approximately ¥20 billion, and 18 invested companies have successfully IPO. Huagai Capital’s medical funds focus on the fields of biomedicine, medical equipment and medical services, with a focus on industry acquisitions and integration in the medical and health field, as well as investment opportunities for high-tech enterprises that are growing rapidly in the early and mid-term.

About Proxima Venture

Proxima Ventures is a professional institution focusing on medical technology and biotechnology investment, dedicated to serving outstanding innovative medical technology companies with great potential to develop, and is managed and operated by a professional team with a senior medical industry background. Proxima Venture has established a leading medical entrepreneurial ecosystem to help investee companies connect with high-quality clinical resources and industrial resources, and has achieved remarkable experience and results.

About Source Code Capital

Source Code Capital was founded in the spring of 2014, dedicated to discovering and supporting leading companies in the wave of technology revolutions. The funds currently under management are $2.5 billion and ¥8.8 billion. Source Code Capital insists on low-level thinking and in-depth research to drive investment behavior, invested more than 200 companies in the fields of “internet+”, “Smart+” and “Global+”.