Source Code Capital | "Sainuo Biology" Completes Hundreds of Millions of RMB in Series C+ Funding, Led by Source Code Capital

Following the close of its Series C+ round led by China Structural Reform Fund, Cygnus Biosciences has officially completed its Series C+ financing of several hundred million RMB, co-led by Source Code Capital, with follow-on investments from CCB Equity, Beijing E-Town International Investment & Development Co., Ltd., Founder Hesan Capital, and HETANG Venture Capital. With this round of funding, Cygnus Biosciences will continue to strengthen R&D and build sustainable, original innovation capabilities within its team, accelerate the launch of mid- and high-throughput sequencing platforms, advance applications for Class III medical device registration certificates, and enhance its market and commercialization capabilities while actively exploring and expanding broader commercial application scenarios with industry partners.

Founded in 2015, Cygnus Biosciences is a domestic NGS gene sequencing company built on proprietary, homegrown technology. Leveraging its core technologies, the company has raised sequencing accuracy to Q40 while significantly reducing sequencing costs. Its first desktop sequencer, the S100, has received widespread recognition from users across multiple application areas.

Dr. Zitian Chen, CEO of Cygnus Biosciences, said: "On behalf of Cygnus Biosciences, I would like to thank the professional investors in this round for their recognition and support. We remain firmly optimistic about NGS gene sequencing technology, whose combined advantages across cost, accuracy, speed, and other dimensions cover the vast majority of current sequencing market demand. Cygnus Biosciences is committed to revolutionizing the field from the ground up through proprietary core technologies in biochemistry and algorithms, using order-of-magnitude improvements in performance metrics to dramatically expand into broader and unknown application spaces, helping scientists achieve more valuable discoveries and pushing the boundaries of human knowledge. With the support of this round of capital, Cygnus Biosciences will stay true to its original mission, leverage the team's strengths in proprietary technology, actively refine its product portfolio, and vigorously advance its commercialization strategy. As entrepreneurs, we are answering the national call for 'domestic substitution,' building core detection tools for the life sciences, elevating precision medicine to higher standards, and contributing to human health and well-being."

Yuhao Zhang of Source Code Capital said: "We place great importance on the opportunities for biotech industry transformation driven by fundamental innovation in domestic life science tools. As a gene sequencing company with mastery of底层技术, Cygnus Biosciences has developed a new-generation sequencer with industry-leading specifications based on two core proprietary patents — Fluorogenic fluorescent sequencing chemistry and ECC error-correcting code sequencing — combined with systems engineering capabilities. We believe that with continued iteration, the company will be able to offer more user-friendly and cost-effective equipment and chip reagent solutions, laying a solid foundation for ITBT convergence innovation in the life sciences industry."

Going forward, while continuing to optimize its desktop product line, Cygnus Biosciences will introduce sequencing platforms designed for centralized clinical testing services and simpler, more intelligent operation to meet the more complex demands of research and clinical scenarios. Cygnus Biosciences maintains a collaborative and open attitude, and looks forward to broader exchanges and cooperation with industry peers to jointly create a brighter future for the gene industry.