Zhongbo Ruikang Completes Nearly RMB 100 Million Series B Financing to Provide High-Quality Automated Cell Processing Systems Globally

VCBeat has learned that the leading domestic provider of comprehensive, systematic solutions for intelligent cell preparation tools—Sino-Biocan (Shanghai) Biotechnology Co., Ltd. (hereinafter referred to as “Sino-Biocan”)Completed a Series B financing round of nearly RMB 100 million in recent days.

This round of financing was led byDalton VentureLead Investor,Qikun FundandJinjue InvestmentCo-investment, Existing ShareholdersHigh-Tech New Deepened, YuanyiandInnovation WorksContinued Investment,Yuanshi Investment...served as the financial advisor for this round of financing. The funds raised will be primarily used to build a modernized production system, comprehensively enhance R&D capabilities and global regulatory approval capabilities, and rapidly expand into key global markets.

Since the launch of its first self-developed products in mid-2021, Sino-Biocan has demonstrated strong momentum in the field of cell preparation tools. Adhering to the design philosophy of “systematic product line management,” the company has expanded from an initial two product series to seven today, covering the entire workflow of cell preparation. This expansion not only serves as robust evidence of Sino-Biocan’s technological innovation and continuous R&D efforts but also underscores the company’s firm commitment to enhancing the productization capabilities and quality of its automated cell preparation systems.

It is worth mentioning that,Sino-Biocan is not merely an R&D and manufacturing company for medical devices,It is also a technical service expert providing innovative integrated solutions, with the capability to manufacture GMP-grade consumables and liquid products, as well as the registration qualifications certified by authoritative product regulatory bodies. This enables Sino-Biocan to offer a comprehensive portfolio covering equipment, consumables, and liquid reagent products.One-Stop Comprehensive Solution, providing innovative biopharmaceutical companies with superior fully closed cell manufacturing tool solutions, and supporting China’s high-quality development in the field of cell and gene therapy.

Since 2022, Sino-Biocan has shifted from catching up to independent R&D and innovation, ranking among the top tier of domestic upstream CGT tool providers.Within just two years, it has established collaborations with over 100 enterprises, including cell and gene therapy R&D companies, hospital-based translational medicine research centers, and medical anti-aging service and wellness platforms.This extensive partner network not only highlights the broad market acceptance and trust in Sino-Biocan’s products, but also validates that its products and services can meet the diverse needs of clients across different industries and types.

Sino-Biocan’s expansion in the international market is equally remarkable. 2023 marked Sino-Biocan’s inaugural year of global expansion, during which the company actively established its overseas presence andSoutheast Asia and Eastern EuropeSecured Orders, Preliminarily Achieving Globalization Strategy.

In 2024, Sino-Biocan significantly accelerated its globalization strategy. The company will establish a Sino-Biocan Strategic Cooperation and Training Center in the aforementioned regions to provide local clients with cell therapy research support and professional training.

Meanwhile, Sino-Biocan is also actively expandingNorth America, South America, Western Europe, and Central Asia markets,Engage in extensive, multi-form collaborations with partners across various regions to drive the internationalization of the company’s business.

The transition from manual to automated, closed-system manufacturing processes has become a consensus among CAR-T pharmaceutical companies in cell preparation. The adoption of fully closed automated tools is an inevitable path for the development of the CGT industry.

Based on this, Sino-Biocan has launchedWukong Series All-in-One Cell Preparation System. This device is capable of fully executing the entire CAR-T cell manufacturing process, including key steps such as cell isolation, sorting, genetic modification, culture, formulation, and aliquoting. It has a wide range of applications, including investigator-initiated trials (IITs), FASTCAR process-based cell therapy technologies, multi-center clinical trials, and future high-growth hospital point-of-care markets, making it fully adaptable to various cell preparation scenarios.

The design philosophy of the Wukong series all-in-one machines originates from the application of high-end technology, throughFully Automated Operation, which not only mitigates the risks associated with manual operations but also significantly enhances the stability of product preparation, thereby better meeting regulatory compliance requirements. Furthermore, its robustProcess monitoring and recording functions,It can significantly reduce the operator’s workload for document preparation, thereby enhancing the overall convenience and efficiency of operations.

The launch of the Wukong series all-in-one machines has not only significantly boosted production efficiency and reduced R&D costs and cleanroom operational expenses, but alsoEnsures the stability and uniformity of cell quality while providing precise and reproducible GMP-grade cell preparation., delivering significant economic benefits and ensuring product quality for biopharmaceutical companies, thereby driving technological advancement and industrial upgrading in the sector.

Amidst the fierce competition where a hundred vessels race, those who row hardest take the lead. From a small team to a current scale of over one hundred employees; from initially benchmarking against imported products to nowLeading the Industry with Proprietary Products; From China to the World... Sino-Biocan is making significant strides in the upstream CGT sector, continuously delivering innovative solutions to the industry and empowering the sustainable development of the CGT ecosystem.

In the recently concluded year of 2023, Sino-Biocan won multiple prestigious awards by virtue of its outstanding innovation capabilities and industry-leading products, including “Top 100 Brands of Chinese Life Science Service Enterprises 2023,” “KPMG China’s Top 50 Biotech Innovators (Second Edition),” and “CGT Awards Star of the CGT Industry – 2023 Asia-Pacific Cell and Gene Therapy Industry Star Award.” These honors not only affirm Sino-Biocan’s strength but also serve as an encouragement filled with high expectations.

Regarding the securing of this round of financing,Wei Dongbing, Founder of Sino-Biocanstated: “Sino-Biocan will continue to leverage its superior closed-cell manufacturing tool solutions and its global business network to provide high-quality services to biopharmaceutical companies worldwide, thereby promoting the global development of the cell and gene therapy sector. In the future, Sino-Biocan will uphold its spirit of innovation and introduce more groundbreaking solutions to the cell and gene therapy tools industry, in order to achieve its strategic goal of globalization.”

Sun Qi, Founding Managing Partner of Dalton Venturestating: "New technological approaches in cell and gene therapy (CGT) are emerging continuously. We believe it is particularly crucial to continuously reduce CMC costs and achieve automated, traceable manufacturing processes. However, China’s foundational CGT manufacturing equipment has long been monopolized by foreign companies, resulting in significant supply-demand gaps, high prices, and long lead times. This vulnerability to unexpected disruptions has created a 'chokepoint' issue for the industry, hindering the long-term, healthy development of China’s CGT sector. Therefore, there is an urgent need for China’s cell therapy industry to pursue the localization of industrial technologies and equipment. Furthermore, with the introduction of the implementation plan for the 14th Five-Year Plan in the healthcare sector, China is accelerating the domestic substitution of cell therapy equipment. The founding team of Sino-Biocan previously spent 13 years at a renowned Fortune 500 medical device company and later served as the head of Miltenyi Biotec’s China operations, accumulating extensive experience in equipment and consumables, particularly in the R&D and industrialization of multi-category, multidisciplinary consumables. We look forward to Sino-Biocan achieving more significant milestones in both R&D and market expansion after completing this round of financing, steadfastly advancing toward the goals of reducing costs for the CGT industry and benefiting patients."

Chen Yicheng, Managing Partner and General Manager of Qikun Fund“Sino-Biocan is a leading R&D and manufacturer of integrated cell processing systems in China, with multiple domestically pioneering products. As the most critical upstream equipment for cell therapy drugs, there is a severe shortage of domestically produced alternatives. We firmly believe that the integrated systems developed by Sino-Biocan can effectively fill this gap in China, achieve import substitution, significantly reduce the R&D and production costs of cell therapy drugs, and benefit a vast number of patients.”

Shen Jinyao, Founding Partner of Jinjue Investmentstated: “As a leading enterprise in the life sciences sector, Sino-Biocan has honored us by including Guangzhou Jinjue Investment Management Co., Ltd. in its financing shareholder consortium. Leveraging Jinjue’s extensive investment experience and robust industry insights, we are confident that, through our joint efforts, Sino-Biocan will unlock broader development prospects and limitless possibilities. We regard our investment in Sino-Biocan not only as a strategic opportunity to engage deeply with the forefront of life sciences but also as a significant step toward continuously extending the value chain.”

Zhu Jin, Managing Director of Nanjing High-Tech New Deepened Equity Investment Partnership (L.P.)“The future demands for stable, safe, and efficient production of cell-based therapies will inevitably drive companies to transition from complex, time-consuming, and labor-intensive manual operations to semi-automated and fully automated manufacturing processes. As a leader in intelligent tools for CGT, Sino-Biocan has secured a significant first-mover advantage thanks to its deep industry expertise and the team’s pioneering spirit. We are delighted to continue supporting Sino-Biocan in this round, helping it become the leading provider of intelligent CGT tools and accelerating the development and commercialization of CGT drugs.”

Gao Ying, Head of Healthcare and Life Sciences at Yuanyistated: “Yuanyi continues to closely monitor emerging technological fields such as CGT and the tangible demands for upstream equipment. Since Yuanyi’s investment in Sino-Biocan, the company has rapidly iterated and upgraded its products, continuously injecting new momentum into China’s CGT industry. In the future, there will be an explosive surge in demand for production translation and process implementation. We look forward to the company’s team continuing to advance the localization of cell preparation systems, bringing greater empowerment to the industry, and enabling new technologies to benefit a broader patient population more quickly.”

Xiao Hai, Investment Director at Innovation Worksstated: “Since Innovation Works invested in Sino-Biocan, the company has made significant progress and established comprehensive supply capabilities for cell-based tools. During the industry’s downturn, Sino-Biocan achieved sustained revenue growth against the headwinds and successfully expanded into overseas markets. As the cell and gene therapy market gradually recovers, the company’s value as industry infrastructure will become increasingly prominent, facilitating the rapid commercialization and cost optimization of innovative therapies, thereby benefiting more patients.”

Dalton Venture focuses on forward-looking medical innovation technologies and serves as the early-stage exclusive investor for multiple first-of-their-kind technology projects in China. Its investment portfolio encompasses VC funds, as well as angel funds in the Yangtze River Delta and the Greater Bay Area. The core team members all come from the healthcare industry, having successfully incubated early-stage startups and founded and managed public companies with market capitalizations exceeding RMB 10 billion. Adhering to the philosophy of being not only a value discoverer but also a value creator, Dalton Venture has received numerous accolades, including Top 100 VC Firms and Top 20 Medical Device Investors by China Venture. Selected portfolio companies include Landin Medicine, Deepwise Healthcare, Hannuo Medical, Triastek, and Heyuan Biology.

Qikun Fund was established in July 2010, adhering to the investment philosophy of “investing early,” “investing small,” “investing in technology,” and “investing in innovation.” Its investment scope covers innovative enterprises in fields such as high-end manufacturing, domestic substitution, new energy, new materials, aerospace manufacturing, and biopharmaceuticals. With a focus on the integration of industry, academia, and research, the fund primarily invests in projects related to the commercialization of scientific and technological achievements that are supported and encouraged by national key policies.

Jinjue Investment was established in March 2014 and is a compliant private fund manager registered with the Asset Management Association of China (AMAC), specializing in equity investment and venture capital. With equity investment as its core business, the firm is dedicated to building an industrial ecosystem that integrates startups with capital. Its parent industrial group supports Jinjue Investment in fulfilling the mission of integrating industrial and investment operations, thereby facilitating the development of its investment ecosystem. This has resulted in a value chain extension driven by investment activities, with supply chain services and cross-border trade serving as two complementary pillars.

GaoKe XinJun Capital was established in 2015 and is headquartered in Shanghai. It is a market-oriented equity investment institution founded with contributions from limited partners such as the listed company Nanjing High-Tech. Its latest fund primarily focuses on the healthcare, new energy, and new materials sectors. Healthcare industry projects invested in by GaoKe XinJun include Allist Pharmaceutical (688578), Biocytogen (301080), Hualan Shares (301093), Rendu Bio (688193), Yimai Yangguang, Jiangeng Pharmaceutical, and Zhengya Dental. GaoKe XinJun has been committed to discovering top-tier entrepreneurs and innovative business models through an international investment perspective and management approach, helping companies build resource ecosystems for growth, seizing opportunities in China’s economic transformation and technological reinvention, and creating new benchmarks for China’s technology industry.

Yuanyi is an alternative investment platform primarily initiated by Far East Horizon (HK.03360) and managed by a professional team. Adhering to the core investment philosophy of “financial support + industrial empowerment,” Yuanyi focuses on investing in high-quality growth-stage enterprises in China. The firm has deep expertise in core sectors such as advanced manufacturing, healthcare, enterprise services, and mass consumption. Post-investment, it is dedicated to helping portfolio companies access precise financial and industrial resources to enhance their value.

Founded by Dr. Kai-Fu Lee in September 2009, Innovation Works is a leading venture capital and service firm in China. It focuses on artificial intelligence and hard tech, robotics and automation, chips and semiconductors, enterprise software, healthcare, and other sectors. Committed to continuous exploration and innovation, Innovation Works strives to build a comprehensive ecosystem investment service platform that integrates startup incubation, financial support, and post-investment services.