Cagenbio Nabs 5 Million Yuan Series Angel Round to Expand In-vitro Diagnostics Reagent Market

Cagenbio officially announced that it has received 5 million yuan angel round financing, and the investor is Shanghai Lifan Investment Management Co., Ltd. The funds will be used to start the 1-3 year project, the microfluidic turntable platform based on chemiluminescence technology, and the approval of the certificate of peripheral blood inflammation PCT/IL-6, folic acid, VB12, etc.

Founded in 2013, Cagenbio is mainly engaged in the research and development and production of in vitro diagnostic reagent materials. At present, it has formed a three-in-one development model of raw materials, reagents, and instruments. At this point, Cagenbio has formed a development model of “Technology R&D + Raw Material Production + Sales Operations”.

There are many innovation hotspots in the country's IVD industry, but the industry is slow to develop and is subject to the monopoly of foreign companies. The upstream supply of enzymes, antigens, and antibodies has always relied on imports, and domestic companies have few core technologies. At present, Cagenbio has obtained 6 product reagent registration certificates, 1 instrument registration certificate, and developed food detection colorimeter, enzyme standard biochemical series products, and fluorescent series products.

As a latecomer, Cagenbio takes innovation as a breakthrough, mainly in three aspects: First, the semi-innovation of conventional products. Second, the platform innovation combines the advantages of chemical-luminescence inspection projects and micro-fluidic control to build a clinical trial platform. Third, the original innovation of biomarkers, through cooperation with hospitals and scholars, to achieve independent originality.

"It is necessary for Cagenbio to complete the semi-innovation of conventional products through 1-3 years, expand the domestic market and the channels of overseas less developed countries, and then realize the development and growth through the 10-year plan," said Luo Chaozhu, the founder of Cagenbio.

Established in Chongming County Market Supervision Bureau in 2015, the registered capital of Shanghai Lifan Investment Management Co., Ltd. is 1 million yuan. The company mainly engaged in investment management, consulting, asset management, business management consulting, business consulting, conference services, financial consulting, etc.