Metware Completed 100 Million Yuan A Round of Financing

Recently, Wuhan MetWare Biotechnology Co., LTD. (hereinafter referred to as Metware) announced the completion of 100 million yuan A round financing. Metware is committed to being a leader in metabolomics detection services, as well as innovations in metabolomics technology and clinical diagnostic applications. This round of financing was led by Sequoia Capital China fund, along with existing shareholders' Ruijiang investment. This round of financing will mainly be used for the expansion of the technical team and strengthening R&D in clinical products and services.

Metware, one of the leading metabolomics service providers, is headquartered in Wuhan, with the Shanghai/Jiashan East China R&D center. The company has nearly 20,000  sqm of lab space, with over 40 sets of mass spectrometers, and 350 passionate staff with R&D technicians accounting for 60%. As a professional metabolomics CRO in China, Metware has been focusing on the application of innovative metabolome technology in life science research and medical health and is committed to becoming a pioneer in the application of metabolome technology services and innovative clinical testing products in the world. Metware's services covers: innovative metabolome technology service CRO, tumor early screening "liquid biopsy" metabolic kit development, and chronic metabolic disease prognosis kit development.

Metware Wuhan headquarters

Relying on the advantages of metabolomics technology, Metware IVD platform focuses on the development of innovative clinical mass spectrometry products, focusing on major diseases such as a tumor, cardiovascular and maternal and child diseases. With the Peking Union Medical College Hospital, PLA General Hospital, Fuwai Hospital, PLA General Hospital seventh Medical Center, Beijing Friendship Hospital, Zhejiang Oncology, Shanghai Chest Hospital, and other first-class centers to carry out in-depth scientific research cooperation. The aim is to transform and promote high-quality testing products and services urgently needed by the clinic, expand the application field of clinical mass spectrometry, make mass spectrometry technology more widely served in the clinic, significantly improve the quality of clinical diagnosis and treatment, and reduce social medical costs. One of its FRIST-in-class products is colorectal cancer blood metabolome detection, which has been verified by two rounds of multi-center experiments in China using the widely targeted metabolomics technology to screen out markers for the very early diagnosis of colorectal cancer. The specificity is 0.9, and the auxiliary diagnostic sensitivity for advanced adenoma is 0.69. Metware has set up IVD-Wuhan RESEARCH and development Center in 2017 and built a GMP production base and Wuhan Medical Testing Center in 2021. It is expected that in 2022, the first batch of similar and innovative products will be approved by the Food and Drug Administration, and become the industry-leading supplier of a full set of clinical mass spectrometry solutions covering innovative diagnostic reagents, instruments, and clinical testing services.

Tang Tang, CEO of Metware, said "Thanks to Sequoia Capital and shareholders for their attention to the metabolome field and recognition of Metware. The United States began to systematically fund technological research and development in the field of metabolomics around 2013, and China began to systematically approve projects around 2018. In this context, based on technological innovation, Metware strives to improve the collection and accuracy of metabonomics data, realizing the leap from hundreds to thousands of metabonomics data collection, promoting the application of metabonomics in life science research, and accelerating the discovery and clinical transformation of candidate metabolic markers. Our mission is to make metabole the bridge between genes and phenotypes. We are now 350-strong striving for this goal. In the future, 1000 people will still strive for this goal. We hope to speed up the deciphering of the metabolic code, and let metabolomics better serve human health."

Qiang Xu, managing director of Sequoia China, said "Metabolomics is a newly developed discipline after genomics, the change of metabolic small molecule is the real-time embodiment of life state. The Metware team has rich experience in technology development and commercialization, unique advantages in metabolome detection methods and metabolic databases, and has achieved a leading position in the industry in technical services, and laid out a number of clinical metabolome product transformation pipelines four years ago. We not only value Metware's current position in the industry but also pay more attention to its focused attitude and the promotion of metabolic technology innovation to life science research and clinical transformation. We are excited to work with Myvi metabolism on our path to becoming a leading global metabolome company."