Ruijiang Fund leads tens of millions of RMB Angel round in Foochi Biomedical to advance rapid AMR diagnostic technology

Recently, Ruijiang Kangsheng Fund, managed by Ruijiang Investment, announced the successful completion of a tens of millions of RMB Angel round lead investment in Foochi Biomedical. The proceeds from this financing round will be primarily used for the technological research and development, production, clinical trials, and overseas expansion of the company's rapid antibiotic resistance diagnostic system and in vitro pharmacokinetic automation system. This investment marks Ruijiang Investment's further deepening of its presence in the medical hard technology field, particularly in the tracks of clinical microbiological precision diagnosis and treatment as well as drug development tools.

The figure on the left is Zhao Jinqiang, Chairman of Ruijiang Investment, and the figure on the right is Ben Turng, founder of Foochi Biomedical

Severe antimicrobial resistance (AMR) has become an increasingly urgent global health challenge. The 2016 G20 Hangzhou Summit recognized AMR as a global issue and affirmed the need for evidence-based approaches to prevent and reduce antimicrobial resistance worldwide, while simultaneously promoting the research and development of new and existing antibiotics. In current clinical practice, traditional antimicrobial susceptibility testing (AST) typically requires 24 hours or more, which lags far behind urgent care needs. 

Furthermore, there are no technologies available to assess indicators such as individualized true pharmacokinetic/pharmacodynamic (PK/PD) parameters for patients with different backgrounds. This "time gap" and "information gap" often force clinicians to rely on empirical medication in the initial tens of hours, which may not only lead to missed optimal treatment windows but also further exacerbate the emergence of multidrug-resistant organisms. Therefore, due to the significant limitations of existing methods, there remains a substantial unmet need for rapid, timely, and precise antibiotic administration to save lives.

Foochi Biomedical has a leading team with deep international perspectives and decades of industry experience. The founder, Dr. Ben Turng, was born in Taiwan and has long served in the United States as global research and development director at a leading international medical device company, where he led the development of over 30 clinical microbiological system solutions. He has also transferred more than 100 internationally leading technologies to China, enabling domestic original manufacturing. 

As a review expert on the Clinical and Laboratory Standards Institute (CLSI) Antimicrobial Susceptibility Testing (AST) subcommittee and an academic advisor to the Chinese Committee on Antimicrobial Susceptibility Testing (ChiCAST), Dr. Turng holds a highly esteemed academic position in the industry. The company's partnership team collectively possesses over a decade of experience in cross-border groups between China and the United States as well as large domestic enterprises, integrating capabilities in research and development, production, marketing, medical affairs, and investment and financing. These strengths have built a solid barrier for Foochi Biomedical's technological innovation, development, and market implementation.