Hailed as the third revolution in biotechnology, synthetic biology has garnered worldwide attention as an emerging technological sector in recent years.
Following China’s release of the 14th Five-Year Plan for Bioeconomy Development, which explicitly prioritizes the accelerated advancement of biotechnology and the bioeconomy, synthetic biology has gained growing public recognition. Subsequently, numerous provincial and municipal authorities across China have rolled out supporting policies to seize industrial development opportunities for synthetic biology. Statistics show that synthetic biology has been incorporated into the 14th Five-Year development plans of 18 provincial-level administrative regions, with targeted roadmaps formulated to boost its industrial growth.
Driven by top-level policy design and technological advances, the synthetic biology industry has achieved robust expansion. Per data from Reportlinker, the global synthetic biology market surpassed USD 10 billion in 2021 and is projected to reach USD 33.6 billion by 2026.
China’s domestic synthetic biology industry has also evolved from its nascent stage into a period of rapid growth. Industry figures record annual financing totals for China’s synthetic biology sector at RMB 2.671 billion, RMB 0.403 billion, RMB 2.159 billion, RMB 2.295 billion and RMB 6.6 billion from 2018 to 2022 respectively, reflecting an overall fluctuating upward trend with financing doubling in 2022.
Such rapid expansion is mirrored not only in market scale but also in robust investor enthusiasm. According to SynBioCon’s statistics, as of December 10, 2023, a total of 57 financing and fundraising rounds were completed by 52 China-based synthetic biology enterprises, with disclosed total financing amount exceeding RMB 15 billion.
Funded projects span upstream platform development, midstream technical services and downstream end-product applications. Synthetic biology technologies have gradually penetrated all production links to form a closed-loop industrial chain.
Among global 2023 synthetic biology financing deals, Canada-based Asimov secured the largest single investment of USD 175 million from the Canada Pension Plan Investment Board in February. In China’s market, Bluepha, a leading domestic synthetic biology firm, claimed the biggest financing round with over RMB 400 million raised in its Series B4 funding, led by Zhongping Capital and co-invested by Jiangsu Huanghai Financial Holding Group. Commercial lenders including SPD Silicon Valley Bank, China Merchants Bank and ICBC have granted a combined credit line of RMB 500 million to the company.
Bluepha specializes in the R&D, production and sales of innovative bio-based molecules and materials, covering biodegradable PHA bioplastics, anxiety-relieving ingredients for functional beverages and novel probiotics to remedy common human metabolic deficiencies. Its offerings help leading B2B clients across consumer goods, healthcare, agriculture & environmental protection, electronics and electrical sectors build differentiated competitive edges.
Meanwhile, 2023 domestic financing data reveals China’s synthetic biology industry remains in an early market expansion phase, with most firms securing funding at early-to-mid development stages: over 80% of all financing rounds fell before Series B, while less than 20% were Series C or later. Geographically, 2023 investment concentrated in North and East China: Shanghai registered 15 deals, Shenzhen 8, Beijing and Hangzhou 6 apiece, alongside 3 transactions each in Tianjin and Wuhan.
