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Genfine Biotech Completed the B Round Financing of 100 Million Yuan, Strengthening the Construction of the Technology Platform

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  • Time of issue:2022-06-17 20:27
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(Summary description)

Genfine Biotech Completed the B Round Financing of 100 Million Yuan, Strengthening the Construction of the Technology Platform

(Summary description)

  • Categories:Company news
  • Author:
  • Origin:
  • Time of issue:2022-06-17 20:27
  • Views:
Information

Genfine Biotech completed the B round financing of 100 million yuan, strengthening the construction of the technology platform

Following the completion of the A round financing jointly led by Legend Capital and Sequoia Capital in February this year, Genfine Biotech has recently received the investment led by CMSC, followed by BC-TID and the old shareholder Legend Capital continued to invest. A total of RMB 100 million is raised in B round financing.

The capital raised from this round of financing will be mainly used for the construction of the Genfine Biotech platform. While further consolidating the company's competitive advantages in nucleic acid extraction and purification research and development, channels and overseas markets, based on customer needs and the company's coordinated industrial layout, Genfine Biotech is committed to providing comprehensive solutions for scientific research, IVD and Biotechmedical customers including Biotechlogical reagents, instruments and materials.

Regarding the successive investment recognition of capital, Yang Liang, founder of Genfine Biotech, said: 'We are grateful to our shareholderstrust. China's life science industry is booming, and downstream applications drive the demand for upstream tools and services, and the industry will emerge competitive companies. Genfine will continue to strengthen its own technological platform advantages, and develop products with high quality, rich variety and stable performance on the platform, creating value for customers in the fields of scientific research, IVD, Biotech and others, helping customers to develop their business."

 

Supported by multi-core technology platform, Genfine Biotechnology has become a leading enterprise in the upstream layout of life sciences

Founded in 2016, Genfine Biotechnology has completed the industrial layout of nucleic acids, proteins, instruments, materials, and consumables, which complement each other. It has medical sample preservation, column membrane nucleic acid extraction, magnetic bead raw material high-throughput instrument integration, Direct qPCR/qRT -PCR detection technology, molecular evolution, high-density fermentation, advanced protein purification and multiple core technology platforms, and is committed to becoming a leading provider of life science tools and services.

Based on the construction of technology platforms such as instruments and materials, the company continues to invest in product research and development to provide nucleic acid and preservation solution products, PCR products, NGS products, molecular cloning products, instrument products, magnetic beads, and other downstream customers for scientific research, IVD, Biomedicine and other downstream customers. Purification and separation products have a total of six series of product lines.

 

Among them, the PCR products and NGS products developed by the company are a natural extension of the user scenarios of nucleic acid extraction. Through the construction, self-research, and production of key instruments and raw material platforms, Genfine Biotech is independent control of the whole process. Also, the company has been improving quality and reducing costs, providing customers with comprehensive solutions of "Biotechnology reagents + instruments + materials", responding to customer needs and improving customer experience. Regarding the investment in Genfine Biotech, the leading investors, the Spokesperson of CMSC said: In the context of the increasingly mature domestic in vitro diagnostic instrument and reagent market, the upstream high-end raw material industry with higher difficulty and higher value will accelerate domestic substitution. We highly agree with Genfine's platform-based development strategy and believe that under the corporate culture of "pursuit of efficiency and ultimate transparency", Genfine can effectively implement its development strategy. Genfine's entry into the first echelon of the nucleic acid extraction segment in just five years also proves that the company's management, represented by Mr. Yang Liang, has a deep understanding of the market and strong strategic execution. We pay great attention to the development of the life science industry. This investment in Genfine is another layout in the field of life science. We look forward to working with the company to build a world-class upstream raw material enterprise for life science.

 

Regarding the investment in Genfine Biotech, Wang Ying, General Manager of BC-TID , said: As a young enterprise established for more than 5 years, Genfine Biotech has gradually transitioned from a leading supplier of sample pretreatment to a comprehensive life science tool and service provider. Molecular evolution, high-density fermentation, protein purification and other platforms, the product pipeline and service content continue to expand, the technical team continues to grow, and has broad prospects in the field of life science; at the same time, the team is young and promising, with clear strategic direction and strong execution. BC-TID will further support the development of enterprises in terms of ecological enterprise docking, industrialization landing, and policy services.

 

Zhou Wei, managing director of Legend Capital, also recognized: I am glad to see that Genfine Biotech has received a large amount of financing in a short period of time. Legend Capital continues to firmly support the company's development, and welcomes CMSC and BC-TID Wait for new shareholders to join. In addition to consolidating its leading position in the field of nucleic acid extraction, Genfine has also begun to achieve layout and breakthroughs in other sectors upstream of IVD. There is a strong room for imagination in the future, and I look forward to seeing more good news in the future.About China Merchants Zhiyuan Capital

China Merchants Zhiyuan Capital is a private equity fund management institution under China Merchants Securities Co., Ltd., with a complete fund pedigree and extensive industry coverage. The management scale of private equity investment funds exceeds 26 billion yuan, ranking the forefront of private equity of securities companies. China Merchants Zhiyuan Capital is committed to value investment and focuses on investing in leading companies in sub-sectors. It has completed equity investments in more than 100 high-quality companies. Relying on China Merchants Securities, China Merchants Zhiyuan Capital is committed to providing enterprises and fund investors with multi-level financial services and excellent investment returns with its professional equity investment team, as well as its capital operation and industrial integration capabilities.

 

About China Merchants Securities Investment

China Merchants Securities Investment Co., Ltd. is a wholly owned alternative investment subsidiary of China Merchants Securities, with a registered capital of 7.1 billion yuan, mainly engaged in equity investment and financial product investment. Guided by value investment, China Merchants Securities Investment Co., Ltd.s equity investment focuses on investment opportunities in the fields of healthcare, new energy and new materials, intelligent manufacturing, technology, and chips, and is committed to providing investee companies with financial services throughout the industry chain.

 

About BC-TID

BC-TID is a one-stop industrial ecological investment and operation platform established by the Changping District Government and the operator of the Changping Technology Industry Fund. It has three major business systems: asset management, technology finance, and industrial services. Provide enterprises with a one-stop overall solution that integrates industrial development carriers, industrial promotion services, and industrial investment and financing. The FOF system under management has invested in more than 240 medical and health companies, with a total investment of over 8 billion yuan. Among them, Aibo Medical, Nuocheng Jianhua, Genetron Health and other companies have been successfully listed; at the same time, the establishment of Changke Zhihengzhi has been initiated. The investment fund, with Chang Development as the fund manager, focuses on disruptive and innovative industries with cutting-edge technological capabilities and significant social benefits, such as innovative drugs, genetic technology, medical devices, and CRO/CDMO services.

 

About Legend Capital

Legend Capital is an independent professional investment company under Legend Holdings. It was established in April 2001. Its core business is focused on venture capital investment in the start-up stage and growth investment in the expansion stage. The total size of the USD and RMB funds under management exceeds RMB 60 billion, with a focus on Chinas opportunities for innovation and growth. As of 2021, Legend Capital has invested in more than 500 companies, of which more than 90 companies have successfully listed/listed domestically or overseas, and more than 60 companies have exited through mergers and acquisitions.

 

 

 

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