Caprico Biotech Secures Tens of Millions in Pre-A+ Funding Led by Panlin Capital to Advance Flow Cytometry Solutions

VCBeat has learned that recently,Henan Caprico Biotechnologies Co., Ltd. (hereinafter referred to as“Caprico Biotechnologies”)Announced the completion of a Pre-A+ funding round worth tens of millions of yuan. This round of financing was led byPanlin CapitalExclusive investment, with funds primarily allocated to the application for Class III medical device registration certificates in China, R&D of innovative antibodies, optimization and production of flow cytometers, and the establishment of subsidiaries.

“Caprico Biotechnologies” was established in April 2019, but its early technological accumulation was completed at Caprico Biotechnologies, Inc. in the United States. Founded in Atlanta in 2013, the U.S. entity possesses core capabilities in the development of flow cytometry monoclonal antibody cell lines, purification and preparation of flow cytometry antibodies, fluorescent dye conjugation, and production quality control of flow cytometry antibody reagents. In April 2022, “Caprico Biotechnologies” restructured its equity framework and fully acquired Caprico Biotechnologies, Inc. With Zhengzhou serving as its headquarters, the wholly-owned subsidiary in Atlanta functions as an innovation and R&D center for flow cytometry antibodies, focusing on investment, research and development, breakthroughs, and validation in the United States. This strategy enables industrialization and localization in China, facilitating the implementation of national standards.

As one of the most promising sectors in the IVD industry, flow cytometry is widely used in clinical testing for major diseases such as hematologic disorders, cancer, infections, and autoimmune diseases, leveraging its advantages of high throughput, multiparametric analysis, and rapid speed in cell analysis.Becoming an Essential Requirement for Clinical Precision Diagnosis。Compared with the global market, China’s flow cytometry market is still relatively small in overall size; however, expanding application scenarios and policy support are driving its rapid growth, indicating substantial potential. Nevertheless, imported flow cytometry companies currently hold an absolute monopoly. Overseas giants have a more pronounced advantage in reagents than in instruments. Antibodies, as core raw materials for flow cytometry reagents, face critical supply chain bottlenecks. The persistent price increases of imported reagent products are compelling the domestic flow cytometry market to seek locally produced alternatives that offer comparable performance at reasonable prices.

“Caprico Biotechnologies” is currently the only enterprise in China with sustained R&D and innovation capabilities in the upstream raw materials sector for flow cytometry.After 11 years of scientific research and development, the company has built an international core team that integrates U.S.-based R&D, Chinese manufacturing, and global marketing channels. The company’s founder, Wang Hui, brings successful entrepreneurial experience and is committed to contributing to societal health and medical care. Co-founders Professor Li Runzhao and Professor Zhang Xiankui are experts with over 30 years of experience in immunology research, possessing profound expertise in flow cytometry technology grounded in immunological principles. Among the advisory team, Professor Wang Sa serves as Chair of the International Clinical Cytometry Society (ICCS) and is well-positioned to identify the most cutting-edge global clinical needs in flow cytometry. By assembling top-tier academic and industry resources in the field of flow cytometry from both China and the United States, and leveraging the strong business acumen of its founding team, the company is well-equipped to sustain its continuous growth.

Leveraging this founding and advisory team with complementary expertise, Caprico Biotechnologies has fully mastered the core technologies for cell line R&D and the entire manufacturing process for reagents. The company has independently developed over 320 hybridoma cell lines, with more than 10 new lines added annually. Building on this foundation, it has cumulatively developed over 2,200 types of reagents, introducing at least 150 new reagent varieties each year.

In terms of reagent categories, Caprico Biotechnologies hasIn addition to comprehensively covering the existing routine clinical application needs of flow cytometry, a series of exclusive innovations have been introduced to address critical pain points in clinical diagnosis.The Company’s existing clinical reagents are suitable for clinical application scenarios such as blood disease testing, immune function assessment, and tumor treatment evaluation, covering more than 95% of clinical testing items. In addition, the Company has independently developed nearly 40 types of reagents. It is the first enterprise globally to research, develop, and sell TRBC1 antibodies, and the first company to commercialize TRBC1 flow cytometry antibodies, thereby disrupting the landscape of T-cell tumor diagnosis. The FLAER reagent fills the gap in the early diagnosis of paroxysmal nocturnal hemoglobinuria (PNH).

Leveraging the advantages of in-house development of reagent raw materials, the company is able to control product quality at the antibody source, avoiding batch-to-batch instability associated with outsourced materials. With substantial gross profit margins and further reductions in production costs as localization progresses, the company is well-positioned to compete with large multinational corporations (MNCs) by consistently providing high-quality reagent products at reasonable prices, thereby achieving...Full-scale domestic substitution.

Currently,“Caprico Biotechnologies” flow cytometry reagents have been extensively validated,Widely adopted in settings such as Sino-American Hospital and its laboratories, research involving certain proprietary reagents has been published in top-tier journals. The company’s reagent products have obtained regulatory approvals globally, including over 800 FDA clearances in the United States and more than 130 Class I certifications in China, with additional Class II and Class III certifications currently under application.

In addition to reagent products, “Caprico Biotechnologies” also offers its own branded instrumentsEstablished an integrated end-to-end flow cytometry industry chain.Caprico Biotechnologies’ CBI Flower flow cytometer has obtained Class II medical device certification, enabling it to meet the basic needs of hospitals ranging from large tertiary Grade A institutions to secondary-level facilities. Through a business model combining reagents and instruments, the company has embarked on large-scale commercialization.

“Caprico Biotechnologies” Founder Wang Huistated: “Flow cytometry plays an irreplaceable role in clinical and research applications, including immunophenotyping, immune monitoring, immune assessment, immunotherapy, pharmacological analysis, and cell storage. Although the domestic flow cytometry industry in China started relatively late, it is rapidly catching up. While the path to domestic substitution remains long and arduous, the future is promising, with hope on the horizon. Amid the capital winter, Panlin Capital completed a Pre-A+ round of investment in Caprico Biotechnologies. All shareholders of Caprico Biotechnologies express their gratitude, believing that sound company management is the best response to this trust. This also further highlights”Panlin Capital is an investment fund that truly emphasizes responsibility and dares to take accountability,“This investment also serves as a shot in the arm and a bellwether. We once again thank Panlin Capital for its trust in Caprico Biotechnologies.”

Professor Li Runzhao, Co-founder of Caprico Biotechnologiesstated: “Leveraging its sustained product innovation capabilities, Caprico Biotechnologies is committed to addressing pain points in the medical device industry by continuously advancing its forward-looking R&D pipeline and high-level manufacturing platform. With a pragmatic approach, the company develops high-end immunodiagnostic reagents that enhance patient diagnosis and treatment, aiming to lead the flow cytometry industry through a solid academic foundation.”We sincerely appreciate the investment from Panlin Capital,Choosing Caprico amidst the complex shifts in both domestic and international investment environments not only affirms Caprico’s steadfast progress but also provides strong support for its future endeavors in delivering high-quality Chinese manufacturing and expanding into global markets. “Stay true to our original aspiration, and we will achieve our ultimate goal” is the shared philosophy of Panlin Capital and Caprico Biotechnologies. We look forward to moving forward together with stability and confidence.

Panlin Capital Medical and Biotechnology Investment TeamIt holds that: “Addressing genuine clinical imperatives, Caprico Biotechnologies has cultivated an innovation capability for the continuous R&D of flow cytometry reagents through over a decade of accumulation, establishing aA fully independent R&D strategy covering the entire process from antibody cell line construction to the development of diagnostic reagents.“With its exclusive, innovative, and comprehensive test menu, stable product performance, and significant price advantage, the company is poised to achieve full domestic substitution of flow cytometry testing in China.”

Li Yuhui, Founding Managing Partner of Panlin Capitalstated: “With the gradual penetration of cell therapies into clinical practice and the deepening public understanding of immune mechanisms, the clinical value of flow cytometry has been validated, and it is approaching an inflection point for large-scale adoption,”It is a turning-point technology that Panlin Capital actively monitors and seeks out.“Caprico Biotechnologies” boasts a core team whose strengths in commercial capabilities, strategic planning, manufacturing processes, and antibody R&D complement one another, forming a powerful alliance that underpins its international development strategy. We are optimistic about the company’s potential to continuously enrich its clinical flow cytometry product portfolio through regulatory approvals for reagents and instrument upgrades, thereby becoming a leading player in China’s flow cytometry industry and a global pioneer in flow cytometry technological innovation.”