Shuimu got its first commercial order from a Chinese university for its Totem Cryo-EM machine. The Totem 300 model delivers 300 kilovolts of voltage and matches the resolution of leading US competitors.
This innovative Chinese startup is solving the challenge that US giants have long dominated. Shuimu BioSciences is designing an advanced machine that can produce intricate structures within viruses and biomolecules. Now that it has developed its first product, which is ready for launch, it plans to go public via an IPO in 2027.
Shuimu BioSciences is a Chinese startup specialising in cryo-electron microscopy (Cryo-EM). It is a groundbreaking technique that involves sending electron beams at biological samples, which are kept at extremely low temperatures. This will give the company thousands of detailed images, which are then reconstructed into three-dimensional models of biomolecules, such as proteins. These images will offer insights into the structure and behavior of life at a molecular level.
Guo is the founder of the company. He described the model as the most advanced tool available for exploring humans, even at a microscopic level. He notes that, until recently, this technology was dominated by foreign companies, particularly by US-based Thermo Fisher Scientific.
After making breakthroughs in medical research in 2013 and 2020, this model became an indispensable tool. These advanced machines are several meters tall and cost millions of dollars in the United States.
Guo stated that Shuimu’s self-developed Cryo EM machine is a significant milestone in the medical industry. It will help China to enter a field that was previously dominated by a handful of global players.
Shuimu BioSciences was founded in Beijing in 2017. It started as a partnership between Tsinghua University, the Beijing municipal government, and Thermo Fisher. Their goal was to create a Chinese Cryo-EM drug discovery institute.
However, their goal faced many setbacks, starting with the administration of Donald Trump, which caused problems between the US and China. In response, Shuimu pivoted to focusing on growing its business and developing its own Cryo-EM machines to sustain the business.
He says that these external pressures shaped his company’s strategy. The pressures made them consider developing the machine rather than simply buying it, which they would have done otherwise.
Earlier this year, Shuimu got its first commercial order from a Chinese university for its Totem Cryo-EM machine. Almost 50% of its parts are sourced from China. The Totem 300 model delivers 300 kilovolts of voltage and matches the resolution of leading international competitors.
Its machine costs between 35 million yuan and 46.6 million yuan ($4.9 million to $6.5 million), depending on the specification and customization. On the other hand, a top-tier Cryo-EM machine from Thermo Fisher can cost US$8 million.
The company aims to strengthen its local supply chain over the next five years and plans to ship its current and future models of more than 1,000 Totem units all over China within the next six years.
To distinguish itself, the company wants to integrate AI with its machines. According to the founder, this move will reduce the time required for complex processes, such as protein structure modeling and data analysis.
The company is currently seeking to raise additional funds to speed up its development. The company reported that it generated nearly 100 million yuan in revenue last year and is aiming to raise 250 million yuan this year. It is aiming to double that figure again in the coming year, according to Guo.
Looking to the future, Shuimu has set its eyes on an initial public offering by the end of 2027, with Hong Kong as the preferred listing destination, according to Guo.