Entrepreneurship State has learned that Yikun Bio, the leader of IVD global platform innovation, announced today that it has completed a $1 million Series B financing. This round of financing was jointly led by Sequoia China and Morningstar Venture Capital, and Yuanhe Holdings followed suit. Lilly Asia Fund and Perkin Elmer Venture Capital, the original shareholders, continued to raise money. Haoyue Capital is the exclusive financial advisor for this round of financing.
Yikun Bio was established in 219, and it is a global platform innovation leader of IVD. Relying on Suzhou industrialization base and Singapore R&D base, the company laid out a global industrial chain, used innovative technology platforms such as clinical mass spectrometry, panoramic pathology and molecular diagnosis to expand the domestic market, and adopted diversified commercial means such as cooperative R&D and investment mergers and acquisitions to actively lay out platforms such as chemiluminescence and instant detection to expand overseas emerging markets.
In the past 2 years, in vitro diagnostic products with low technical barriers have been replaced by imports to a high degree in China. In the next 2 years, in vitro diagnostic industry in China 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-based and product-based companies in a single market, leading the development of in vitro diagnosis industry.
aiming at the domestic market, clinical mass spectrometry is one of the core platforms for the accurate diagnosis and treatment of Yikun. As the exclusive strategic partner of Perkin Elmer's clinical mass spectrometry products in China, QSight42MD, a triple quadrupole mass spectrometry detection system produced and declared by Yikun Bio, was approved for listing in the third quarter of 221, and has obtained the record of full-spectrum vitamins and various steroid hormone products. 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. As for the molecular diagnosis platform, the company actively deployed multiple PCR detection schemes that can provide more Qualcomm and control the cost by using global resources.
For overseas emerging markets, Yikun Bio uses the global industrial chain and R&D production and operation resources to deeply lay out products just needed by emerging markets such as chemiluminescence and real-time detection.
in the next few years, yikun bio will complete several new technology 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, and actively expand in-vitro diagnostic business opportunities in emerging markets to provide global diagnostic technology and effective clinical solutions for China and overseas emerging markets.
Mr. Zhang Sheng, the founder of Yikun Bio, said that after the rapid development in the first two decades, China's in vitro diagnostic industry believes that there are two main opportunities in the future. One is to continue to introduce and develop innovative products and services in China market to solve clinical pain points, and the other is to integrate China's diagnostic product resources to expand the global market. I believe that the long-term industry experience, technological innovation ability and international background of Yikun team will enable us to gain greater opportunities in the next twenty 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 grateful to Haoyue 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 Bio-focus has built a number of internationally competitive diagnostic technology platforms, such as mass spectrometry, panoramic pathology, and new molecular diagnosis, and used various technology platforms to provide effective clinical testing programs for patients in different disease stages around the world. We highly recognize the globalization perspective, technical ability and execution of Yikun Bio-team, and believe that under the leadership of its founder, Mr. Zhang Sheng, Yikun Bio-team is expected to become a global platform leader of IVD. Sequoia China has been committed to helping the rapid growth of innovative medical devices and diagnostic enterprises, so as to make better products benefit patients more quickly.
Ms. Huang Lu, Morningstar Venture Capital, said that after more than 2 years' development, the IVD industry in China has begun to take shape, and the import substitution has been initially completed; In the next 1-2 years, the increment of domestic market brought by technology iteration and the rapidly growing demand of international emerging markets 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. Since its establishment just two years ago, the company has developed rapidly, and has completed the initial layout in the introduction of new technologies and international business cooperation. Chenxing is very happy to be a shareholder of Yikun. Chenxing will use its international background and global capital and industrial technology resources to help Yikun become a leader in the new stage of IVD industry 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 unsatisfied demand and strategic opportunities. Yikun Bio allocates talents and innovative resources on a global scale, and through a variety of commercial means, globalization+multi-technology platform+industrial chain at home and abroad and innovation chain linkage, carries out global layout and forms industrial depth. The Yikun Bio-management team led by Mr. Zhang Sheng, the founder of Yikun Bio, 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-based in China and go global 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 Yikun Bio's vision of providing diversified, innovative, integrated, affordable, multi-disease, all-stage IVD solutions for the world and its business model introduced and launched. In the two years since its establishment, the 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 purchasing 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' going out to sea has become a new source of income increment for in vitro diagnosis enterprises, and developing countries with smaller scale but faster growth will become the main battlefield. Yikun team has an international vision and transnational management experience, which can better achieve the goals of innovation and development and overseas development.
Mr. Ding Yameng, the founding partner of Haoyue Capital, said that Haoyue Capital is 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 and outstanding leader in in-vitro diagnosis industry in China, with unique strategic vision and excellent commercial landing ability. Yikun Bio-innovation technology 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 stand in China and go global.