Zhengxi Biotech Completes Tens of Millions of RMB Series A+ Financing to Build a Domestic Brand for Flow Cytometry and Proteomics-based Clinical Diagnostics

Nov 06, 2024 09:10 CST Updated 09:10

Zhengxi Bio

Monoclonal Antibody and Diagnostic Reagent Raw Material R&D, Manufacturer

Recently, Zhejiang Zhengxi Bio-Technology Co., Ltd. (hereinafter referred to as “Zhengxi Bio”) announced the completion of a new round of financing amounting to tens of millions of yuan.Invested by Zhejiang Sinowisdom Capital Co., Ltd. (hereinafter referred to as “Sinowisdom Investment”) and Huiyu Private Equity Fund Management (Huzhou) Co., Ltd. (hereinafter referred to as “Huiyu Investment”).

Zhengxi Bio is a deep-tech company specializing in membrane protein antibodies and multi-omics antibodies. It continuously develops innovative clinical diagnostic products, upstream reagent raw materials, and third-party specialized testing services, with a strategic focus on flow fluorescence detection, immunohistochemistry, and multi-omics testing. The company has achieved domestic substitution in the fields of flow cytometry and multi-omics antibody raw materials and reagents, independently developing over 300 types of multi-omics membrane protein antibody raw materials to address critical supply chain bottlenecks.The domestic market for biological reagents has long suffered from a reliance on imported monopolies, highlighting the critical importance of supply chain localization. Leveraging product performance that rivals international brands, Zhengxi Bio is well-positioned to accelerate the substitution of imports with domestically produced alternatives in this sector, thereby reshaping the competitive landscape. With the rise and growing prominence of immunotherapy and cell therapy, flow cytometry, flow fluorescence detection, and protein multi-omics analysis have become essential analytical tools. These technologies are integral to the entire workflow of immunotherapy and cell therapy, encompassing R&D, manufacturing, characterization, efficacy prediction, and post-treatment monitoring.

Focusing on the research applications and clinical implementation of flow cytometry, the company has establishedPossesses extensive experience in R&D and commercializationCore Team: Dr. Zhang Yang, a post-90s founder, is the first immunology Ph.D. graduate from the University of California, San Francisco (UCSF), a top-tier global medical school, in mainland China. Dr. Zhang also holds dual master’s degrees in Business Administration (MBA) and Public Health (MPH) with a focus on healthcare management from Yale University. Since returning to China in 2019, he has been honored as a Provincial Overseas High-Level Talent for Entrepreneurship in Zhejiang Province, a Qianjiang Talent Plan recipient in Zhejiang Province, a Leading Entrepreneurial Talent under the Huzhou Nan Taihu Elite Program, and one of the Top Ten Outstanding Youths in Huzhou City. Through years of systematic work and accumulation, the founding team led by Dr. Zhang has established an integrated technology platform for the high-throughput research and development, production, and application of flow cytometry antibodies. The company’s core team members all come from renowned biopharmaceutical companies in China and abroad, bringing decades of experience in the in vitro diagnostics (IVD) sector. The team’s extensive experience and diverse composition serve as a critical foundation for the project’s rapid development.

Founder Dr. Zhang YangIndicates, after nearly seven years of dedicated development, Zhengxi Bio has established foundational technologies in membrane protein antibody R&D, production process optimization, antibody modification, and fluorescent labeling, as well as built a product registration platform for clinical research., equipped with an independent, domestically developed underlying technology platform that aligns with the standards of hard-tech industries. We sincerely appreciate the trust and support extended by investors in this funding round. The proceeds will be primarily allocated to channel development, new product development and registration, capacity expansion, and daily operations. Moving forward, Zhengxi Bio will leverage its core competencies in underlying flow cytometry antibodies and labeling technologies, gradually expanding into upstream raw materials for emerging multi-omics applications and their clinical implementation. The company strives to create greater value in the fields of multiplex flow cytometry assays, disease screening, and companion diagnostics.

Mr. Zong Peimin, Founding Partner of Sinowisdom CapitalIndicates:In recent years, the field of cell-based therapies has witnessed rapid development, with remarkable progress achieved particularly in the past two years. The scope of application is expanding beyond hematologic malignancies to include solid tumors, autoimmune diseases, and neurodegenerative disorders, while also trending toward universal off-the-shelf products and cost reduction.Sinowisdom Capital has made in-depth investments in the cell therapy sector, with portfolio companies such as Huadao Bio dedicated to developing affordable cell-based therapies.Starting in 2025, as numerous cell-based therapies complete clinical trials, the industry is poised for sustained growth and explosive expansion. The number of newly launched products will increase significantly, heralding the dawn of a grand new era for cell-based medicines. Within the cell therapy value chain, flow cytometry plays a core analytical role, serving as an indispensable and critical component.Zhengxi Bio’s management team possesses comprehensive R&D capabilities for flow cytometry reagents and is proficient in core raw material technologies, occupying a central position in the field of companion diagnostics for cell therapy, as a nationalAs a leading enterprise in domestic alternative products, its future development holds infinite possibilities.

Mr. Hu Yinbin, General Manager and Managing Partner of Huiyu InvestmentStatement: Due to its advantages in high-throughput and multi-parameter cell analysis, flow cytometry has become the sole option for certain clinical testing items. Driven by advancements in medical frontiers and clinical demands, it continues to spawn new testing applications. As a leading domestic supplier of flow cytometry reagents, Zhengxi Bio possesses many years of experience in flow antibody research and development, holding unique advantages in independently controlled raw materials and specialized reagent products. We believe that with its leading technological strengths and increasingly robust commercialization capabilities, Zhengxi Bio is well-positioned to meet growing market demand and sustain its vigorous growth. Meanwhile, Huiyu Private Equity Fund Management (Huzhou) Co., Ltd. remains firmly optimistic about China’s precision diagnostics market. While nurturing more high-quality enterprises, it is poised to deliver more precise and intelligent diagnostic solutions to a broader patient population.

About Sinowisdom Capital

Sinowisdom Capital (SINOWISDOM), established in 2002, is one of China’s earliest private venture capital firms. It currently manages over 50 venture capital funds, with total investments exceeding RMB 15 billion.

For 22 years, Sinowisdom Capital has focused on industrial investment, adhering to the “investment + services” model. It is committed to investing in early-stage, small-sized, and technology-driven enterprises, with a particular emphasis on hard-tech sectors such as information technology, energy, materials, and biotechnology, while maintaining a strong presence in Zhejiang Province and the Yangtze River Delta region. To date, 35 portfolio companies have successfully completed initial public offerings (IPOs), and 15 have gone public through mergers and acquisitions. Several other companies are planning IPOs or have entered the pre-IPO tutoring phase. The firm has also made strategic investments in Hu Qing Yu Tang to promote the development of the new Traditional Chinese Medicine industry, alongside investments in new energy projects. Furthermore, Sinowisdom Capital supports local economic transformation, upgrading, and investment promotion.

Sinowisdom Capital has repeatedly received honors including “China’s Best Venture Capital Firm,” “Best Chinese VC Firm,” and “Top Investor in Advanced Manufacturing.” Its Chairman, Zong Peimin, has also been named “China’s Best Investor” on multiple occasions.

About Huiyu Investment

Huiyu Investment, established in 2017, currently manages assets exceeding RMB 7 billion and has become one of the fastest-growing primary market fund managers in China. Our core team members have all held senior executive positions at major international financial institutions, including Citigroup, CICC, The Blackstone Group, N M Rothschild & Sons, and Olympus Capital.

The team has cumulatively invested in over 40 projects, with a total investment exceeding RMB 14 billion. Huiyu Investment focuses on key sectors including semiconductor materials, clean energy materials and components, consumer healthcare, medical devices, and technology-enabled logistics. Its portfolio companies include SICC Co., Ltd. (688234), Bloomage Biotechnology Corp., Ltd. (688363), Kingstar Intelligence Technology Co., Ltd. (688455), Sinocelltech Group Limited (688520), Shenzhen Sonoscape Medical Corp. (300633), Thunderobot Technology Co., Ltd. (872190), HanTian Tiancheng, Jingzhan Semiconductor, Advanced Technology & Materials Co., Ltd., Bocan Chemical, Tianma Bearing, and Ruijian Medical.

Through years of accumulation and collaboration with industry partners, Huiyu Investment has developed certain product testing and validation capabilities in semiconductor devices, biological products, and medical consumables. Furthermore, it has established an equity investment ecosystem within these niche sectors and received various industry awards from professional institutions.