QiJia Tech Files IPO Prospectus: Pioneering Commercialization of iPS-Based Multi-Lineage Co-Differentiation Organoid Platform

Over the past one to two years, spurred by several major initiatives from the FDA, industry enthusiasm for organoids and organ-on-a-chip technologies has reached an all-time high.

According to incomplete statistics from VCBeat, there are currently more than 49 companies worldwide that have specifically entered the organoid and organ-on-a-chip sector. Additionally, data from the PubMed database shows that research related to organoid and organ-on-a-chip technologies has risen sharply over the past decade, with the number of articles on organoids jumping from 42 in 2010 to 2,097 in 2020.

Major pharmaceutical companies such as Johnson & Johnson, Merck, AstraZeneca (AZ), Pfizer, and Sanofi have also adopted innovative strategies by incorporating organoid technology into new drug development. Furthermore, several pharmaceutical firms, including AbbVie, Merck, and Novartis, jointly established the non-profit IQ Consortium to promote the standardized application of organ-on-a-chip technologies and accelerate the drug discovery process.

In fact, the rapid advancement of organoid technology is inseparable from the remarkable breakthroughs in stem cell research over the past decade. Currently, most types of non-tumor-derived organoids can be generated through induced differentiation of induced pluripotent stem cells (iPSCs). As an observer of the healthcare industry, VCBeat has been closely monitoring and following developments in the fields of stem cells and organoids, andExclusive Interview with Dr. Wu Di, Co-founder and CEO of Qijia TechnologyAs one of the first researchers in China to engage with in vitro induced differentiation technology for organoids, Dr. Wu Di has accumulated over a decade of experience in establishing and translating iPSC model systems. He also offers unique insights into the current state and developmental bottlenecks of the non-tumor organoid industry.

In 2019, the TOP STORY in the field of hepatobiliary research came from a Chinese scientific research team:Drawing on years of research experience in hepatobiliary developmental mechanisms and stem cell technology, Dr. Wu Di’s team has, for the first time, induced the differentiation of human pluripotent stem cells into a biomimetic system featuring hepatobiliary co-development. This study was published in the Journal of Hepatology, a top-tier journal in the field of hepatology, and has been commented on by several internationally renowned experts, who regard it as a significant step toward refined organ engineering.

Subsequently, Dr. Wu Di proposed the concept of “iPS lineage co-differentiation” and spent three years expanding the technical platform to various organs across the respiratory, digestive, circulatory, and nervous systems, achieving proof-of-concept in both research and industrial settings. Dr. Wu told VCBeat, “During the translational research process, our team identified many exciting opportunities. We aim to achieve commercial validation for these new models and address industry challenges, rather than letting them remain shelved as mere academic publications.”

Until 2022, Dr. Ge Xiaohu, an expert in the stem cell industry, co-founded Qijia Technology with Dr. Wu Di and Mr. Wan Fei, bringing next-generation organoid technology to market and committing to providing systematic solutions for scientific research, drug development, and regenerative repair.

Dr. Wu Di explained, “Lineage co-differentiation technology enables the parallel induction of iPS cells into different cell types within the same spatial environment; when combined with tissue engineering culture processes, this facilitates batch-scale 3D structuring and maturation, ultimately yielding iPS-derived biomimetic micro-organs, known as iORGAN.”A key advantage of this model lies in its high biomimetic fidelity, encompassing diverse lineage types, intricate structures, and expanded functionalities. For instance, iLung incorporates epithelial, mesenchymal, and immune cells, while featuring airway, bronchial, and alveolar structures, thereby simultaneously recapitulating distinct functions of both the proximal and distal respiratory tract. Furthermore, the induced pluripotent stem (iPS) cells used as seed cells for iORGAN can be obtained through reprogramming of peripheral blood or urine cells, eliminating the need for invasive biopsy procedures and significantly enhancing the model’s translational applicability.

Compared with tumor organoids,iORGAN is applicable to research and drug development for non-oncological diseases, including but not limited to infectious diseases, fibrotic diseases, inflammatory diseases, and neurodegenerative diseases.Dr. Wu Di further explained, “These diseases affect a vast patient population in China, yet the lack of effective models severely hampers the efficiency of new drug development. Moreover, the research and industrial pipelines for non-oncological diseases are robust, representing a vast untapped market.”

Centered on its core technology platform for lineage co-differentiation, Qijia Technology has secured nearly twenty invention patents, spanning from upstream iORGAN construction to downstream applications. This achievement ensures proprietary intellectual property coverage across the entire technological chain and includes undertaking multiple national- and provincial/ministerial-level research projects. Qijia Technology plans to achieve mature industrial application of next-generation organoid technology in three phases.

Dr. Wu Di told VCBeat, “The trend of organoid technology as a new model is inevitable. It has already passed the proof-of-concept stage and is on the verge of a commercialization boom. We look forward to collaborating with upstream and downstream players in the industry chain to jointly establish industry standards, thereby truly facilitating the upgrading and iteration of the biopharmaceutical industry.”

According to Dr. Wu Di,“To deliver mature products and technical services that reduce costs and enhance efficiency for the industry, in addition to collaborating with upstream and downstream partners to establish industry standards, two further steps must be taken: first, upgrade organoid production technologies and equipment on the basis of standardization to achieve high-throughput and automation; second, develop multi-organ and micro-human body systems to address the limitations of single-organ models and enable localized and complete metabolic circulation.”

Qijia Technology’s commercialization path is indeed following this very trajectory.

Building on its active participation in standard-setting, Qijia Technology is advancing toward high-throughput and automated solutions. The Qijia Science team has completed the development of its human-derived respiratory and digestive system iORGAN products, offering standardized offerings—including kits, upstream and downstream reagents, and living constructs—for physiological models of the human lung, liver, pancreas, duodenum, and colorectum. Additionally, it provides customized services for various non-tumor disease models to meet the model-building needs of research institutions and pharmaceutical companies.

Building on this foundation, Qijia Technology has also proactively established two tissue repair pipelines,The corresponding indications are type 1 diabetes mellitus/severe type 2 diabetes mellitus and acute-on-chronic liver failure, respectively. “Currently, both pipelines have completed efficacy testing in small animals, and we will advance the pipeline products in accordance with the original development plan.”

Regarding Qijia Technology’s current development strategy, Dr. Wu Di stated, “In the short term, iORGAN has already been able to address the performance limitations of existing models and meet the demands of the current installed market. Meanwhile, Qijia Technology is collaborating with industry partners to build a complete, closed-loop industrial ecosystem spanning the entire product value chain, from upstream source preparation to downstream application analysis.”

Overall, the organoid industry is still in its early stages of development, with competition just beginning to emerge. In the past two years, as government attention and capital investment have become increasingly concentrated, a series of team standards and draft national standards—such as *Human Colorectal Cancer Organoids*, *Human Intestinal Organoids*, *Technical Specifications for the Culture of Human-Derived Lung Cancer Organoids*, *General Technical Requirements for Skin-on-a-Chip*, and *Operational Guidelines for the Preparation, Cryopreservation, Thawing, and Identification of Human Normal Breast and Breast Cancer Organoids*—have been successively introduced, significantly accelerating the industry’s development.

Beyond policy support, addressing the current challenges in new drug development—namely high costs, long development cycles, and low success rates—serves as a significant driver for the growth of the organoid industry. On the other hand, the increasing complexity of requirements for new drug development models and therapeutic regimens is also accelerating the industry’s rapid expansion. These various factors have contributed to the current prosperity of the organoid sector. We look forward to seeing organoid companies with genuine technological barriers and industrial experience, such as Qijia Technology, quickly enter the market and contribute to the development of the organoid industrial ecosystem.