Yikun Bio, founded on 20 19, is a global platform innovation leader of IVD. Relying on Suzhou industrialization base and Singapore R&D base, the company laid out the global industrial chain, used innovative technology platforms such as clinical mass spectrometry, panoramic pathology and molecular diagnosis to expand the domestic market, adopted diversified commercial means such as R&D cooperation and investment merger and acquisition, actively laid out platforms such as chemiluminescence and real-time detection, and expanded overseas emerging markets.
In the past 20 years, in vitro diagnostic products with low technical barriers have been largely replaced by imports in China. In the next 20 years, China's in vitro diagnosis industry will be an innovation-driven market. However, in overseas emerging markets, the matching degree between supply and demand of in vitro diagnostic products is low at present, and there is an urgent need for Qualcomm-made, automated and affordable products with great market potential. Multi-platform innovative companies with global market layout are gradually replacing traditional channel and product companies in a single market, leading the development of in vitro diagnosis industry.
For the domestic market, clinical mass spectrometry is one of the core platforms of Yikun precision biological diagnosis and treatment. As the exclusive strategic partner of Perkin Elmer's clinical mass spectrometry products in China, QSight420MD, a triple quadrupole mass spectrometry detection system produced and declared by Yikun Bio, was approved for listing in the third quarter of 20021and has obtained full-spectrum vitamins and various steroid hormone products for filing. Through the successful acquisition of Beijing Bainuo Panorama, Yikun Bio has actively expanded the layout of panoramic pathology from scientific research services to clinical diagnosis. In terms of molecular diagnosis platform, the company actively deployed a variety of PCR detection schemes, using global resources to provide more Qualcomm and control costs.
For overseas emerging markets, Yikun Bio uses the global industrial chain and R&D production and operation resources to deeply deploy products just needed by emerging markets such as chemiluminescence and real-time detection.
In the next few years, Yikun Bio will complete a number of new technical cooperation, investment and mergers and acquisitions. The company will further introduce, integrate and develop a number of innovative technology platforms at home and abroad through diversified commercial means, actively expand the business opportunities of in vitro diagnosis in emerging markets, and provide global diagnostic technology and effective clinical solutions for emerging markets in China and overseas.
Mr. Zhang Sheng, founder of Yikun Bio, said that after the rapid development in the first two decades, the in vitro diagnosis industry in China thinks there are two main opportunities in the future. First, we will continue to introduce and develop innovative products and services in China market to solve the clinical pain points; second, we will integrate the diagnostic product resources of China and expand the global market. I believe that the long-term industry experience, technological innovation ability and international background of Yikun team will give us greater opportunities in the next 20 years. We are very grateful for the recognition of this round of investors and the continuous support of the old shareholders, and we are also very grateful to Hao Yue Capital, the financing partner of this round. Adequate financial support enables us to continuously introduce more talents and technologies, expand the larger market, and provide more and better diagnostic products and services for clinical customers in China and even the world.
Ms. Yang Yunxia, a partner of Sequoia China, said that Yikun Biofocus has built a number of internationally competitive diagnostic technology platforms, such as mass spectrometry, panoramic pathology, and new molecular diagnosis, and provided effective clinical testing programs for patients with different disease stages around the world by using diversified technology platforms. We highly recognize the global perspective, technical ability and execution of Yikun Bio-team, and believe that under the leadership of founder Mr. Zhang Sheng, Yikun Bio-team is expected to become the global platform leader of IVD. Sequoia China has been committed to helping innovative medical devices and diagnostic enterprises grow rapidly, so that better products can benefit patients more quickly.
Ms. Huang Lu, Morningstar Venture Capital, said that after more than 20 years of development, China's IVD industry has begun to take shape and initially completed import substitution; In the next 10-20 years, the increment of domestic market and the rapidly growing demand of international emerging markets brought by technology iteration will become the main driving force for the development of IVD industry in China. Yikun team is one of the few teams in IVD industry in China with both local successful entrepreneurial experience and international business operation experience. Founded only two years ago, the company has developed rapidly, and has completed the initial layout in the introduction of new technologies and international business cooperation. Chen Xing is very happy to be a shareholder of Yikun. Chen Xing will use its international background and global capital and industrial technology resources to help Yikun become a leader in the new stage of IVD industrial development in China.
The person in charge of Yuanhe Holdings said that the best IVD enterprise in China in the future must be a global company. Domestic IVD industry will enter the stage of innovation-driven development, while overseas emerging markets have more unmet needs and strategic opportunities. Yikun Bio allocates talents and innovative resources on a global scale, and through various commercial means, globalization+multi-technology platform+linkage of domestic and foreign industrial chains and innovation chain, it carries out global layout and forms industrial depth. Yikun Bio-management Team led by Mr. Zhang Sheng, the founder of Yikun Bio-management, is a rare top team in the industry, with good industry insight, rich industry experience and international vision. We expect Mr. Zhang Sheng to continue to lead Yikun Bio-tech to establish itself in China and go to the world to provide effective diagnostic products and clinical solutions for doctors and patients.
Ms. Zou Jieyu, Managing Director of Lilly Asia Fund, said that LAV highly agrees with the vision of Yikun Bio-providing diversified, innovative, integrated, affordable, multi-disease and all-stage IVD solutions for the world-and its business model introduced and launched. Since its establishment two years ago, Yikun team has demonstrated outstanding leadership and execution, and won wide recognition in the industry. LAV is honored to participate in the growth of Yikun Bio, and looks forward to working with investors to help Yikun achieve more achievements in the future.
Mr. Duan Liancheng, managing partner of Perkin Elmer Venture Capital, said that under the pressure of centralized procurement policy, the development of domestic enterprises in the future needs to rely more on innovation ability and better adapt to the medical reform policy by increasing the proportion of new products. In addition to the income brought by innovation, China enterprises will go to sea to become a new source of income increment for in-vitro diagnostic enterprises, and smaller but faster-growing developing countries will become the main battlefields. Yikun team has an international vision and transnational management experience, and can better achieve the goals of innovative development and overseas development.
Mr. Ding Yameng, the founding partner of Hao Yue Capital, said that Hao Yue Capital was honored to be the exclusive financial advisor of Yikun Bio in this round of financing. Mr. Zhang Sheng, the founder of Yikun Bio, is a rare outstanding leader in the in vitro diagnosis industry in China, with unique strategic vision and excellent business landing ability. Yikun Bio-innovation serves the China market, and the strategy of integrating industry resources to expand emerging markets and innovative platform layout will help the company's products to stand in China and go global.