AccuDx Biotech Secures Tens of Millions in A+ Financing to Deepen Focus on Coagulation Diagnostics

VCBeat has learned that recently,Shandong Aikeda Biotechnology Co., Ltd. (hereinafter referred to as “Aikeda Biotech”) Successfully Completes Tens of Millions of Yuan in Series A+ Financing。This round of financing was led by the "Shandong New Kinetic Energy Fund,"This new round of financing was rapidly completed by ACCURDX Biotechnology following its Series A funding, which was jointly invested by Yida Capital and CITIC Medical Fund. This investment reflects the capital market’s high level of attention to the “domestic coagulation sector,” seizing the opportunity of macroeconomic recovery and improvement, while continuously strengthening support for the real economy.The proceeds from this round of financing will be primarily used to expand production capacity, advance technological innovation in R&D, and develop new products.

Mr. Wang Xing, Founder of ACCURDXStatement: We extend our gratitude to Yida Capital, CITIC Medical Fund, Shandong New Momentum Fund, and other investment institutions for their trust and support. We also thank all sectors of society for their attention and look forward to broader cooperation in the future. “Tackle the most difficult challenges and strive for the most ambitious goals.” In the future, ACCURDX will continue to focus on deepening its expertise in the hemostasis and coagulation sector, concentrating on the development of coagulation projects and achieving integration across the entire IVD industry. “Based in China, oriented towards the global market, grounded in practical work, and committed to fulfilling our responsibilities.”

ACCURDX Biotechnology has achieved significant breakthroughs in its “high-throughput, fully automated coagulation testing workflow” and “key antibodies for hemostasis and thrombosis diagnostics based on genetic engineering technologies,” overcoming technical barriers to break the monopoly held by foreign companies. This advancement integrates the entire industry chain for hemostasis and thrombosis testing, enabling China’s self-sufficient circulation of this supply chain even under extreme circumstances.

Instrument R&D and ManufacturingACCURDX launched China’s first flexible, fully automated coagulation analysis assembly line, the ADX-E1, specifically designed for coagulation testing. In addition to its thrombosis and hemostasis products, the company has introduced other instruments, including the CR-2000 fully automated specific protein analyzer, the MT-1000 fully automated erythrocyte sedimentation rate (ESR) analyzer, and the AC-1000 fully automated chemiluminescent immunoassay analyzer. While continuously developing new products to enhance its technological innovation capabilities, ACCURDX also persistently optimizes its already marketed products.

Reagent R&D and ManufacturingIn this regard, ACCURDX is currently the only domestic manufacturer in China that utilizes self-produced antibodies and peptide substrates for production, and holds the largest number of registered coagulation assay projects among Chinese reagent manufacturers. It provides a comprehensive solution for routine seven-item coagulation tests, anti-Xa, and lupus anticoagulant (LA) assays, including reagents, quality control materials, and calibrators. All kits for the routine seven-item coagulation panel are supplied in liquid format, ready-to-use without reconstitution, offering simpler operation, more stable results, and significantly reduced costs compared to most imported lyophilized reagents. In addition to being compatible with all models of ACCURDX coagulation analyzers, ACCURDX coagulation reagents are also available as third-party reagents suitable for various mainstream imported coagulation analyzers on the market. After hundreds of evaluations, they have demonstrated good consistency and can fully replace imported reagents.

Provincial Key R&D Program ProjectThe implementation plan for the Shandong Provincial Key R&D Program project, “Research and Development and Industrialization of Fully Automated Coagulation Testing Equipment and Supporting Reagents,” led by ACCURDX and jointly undertaken by multiple hospitals and universities, has successfully passed expert review.

Product QualityIn this regard, the coagulation reagents manufactured by ACCURDX demonstrated outstanding performance in the first 2023 External Quality Assessment (EQA) organized by the National Center for Clinical Laboratories (NCCL) under the National Health Commission. All participating users successfully passed the quality control assessment, and six coagulation test items were granted separate grouping status. Within just over a year, ACCURDX achieved objectives that other coagulation reagent manufacturers typically require ten years or even longer to accomplish. Consequently, ACCURDX coagulation reagents have gained recognition from the NCCL, an authoritative institution under the National Health Commission, thereby establishing a solid quality foundation for the adoption of ACCURDX products by high-end users in China.

Brand PromotionIn this regard, this year, immediately after the end of the pandemic, ACCURDX Biotechnology went all out to strengthen academic promotion and brand building, organizing and participating in more than twenty online and offline events. From May 28 to May 30, 2023, ACCURDX Biotechnology exhibited at the 20th China Association of Clinical Laboratory Practice (CACLP) Expo held in Nanchang. From July 25 to 27, 2023, the 75th AACC Annual Scientific Meeting & Clinical Lab Expo was held at the Anaheim Convention Center in California, USA. ACCURDX Biotechnology made a remarkable appearance with its new fully automated coagulation analyzer and fully automated erythrocyte sedimentation rate (ESR) analyzer.

To date, ACCURDX’s independently developed fully automated coagulation analyzers and their accompanying reagents are in use at more than 100 tertiary hospitals across China. Clinical feedback indicates that ACCURDX products have reached internationally advanced levels among comparable devices in key performance metrics, including assay precision, result accuracy, and testing throughput.

Shandong New Growth Drivers Fund Management Co., Ltd. is a provincial-level first-tier enterprise and a key provincial financial institution, established with the approval of the People’s Government of Shandong Province. The company has a registered capital of RMB 20 billion, with the Shandong Provincial Department of Finance fulfilling the responsibilities of the investor. It is primarily responsible for the management and operation of the Shandong Old-to-New Growth Drivers Conversion Guidance Fund and the Provincial Emergency Bridge Loan Fund, while also engaging in market-oriented investment and financing activities. The government guidance funds managed by the company have ranked second in China for eight consecutive years in the China Government Guidance Fund Rankings. The company has been honored with titles such as “Leading Enterprise in China’s Fund Industry,” “Second China Equity Investment Golden Bull Award,” and “Provincial-Level Civilized Unit,” and holds a domestic entity credit rating of AAA. To date, the Provincial Old-to-New Growth Drivers Conversion Fund has completed investments in over 1,300 projects, with total fund investments exceeding RMB 170 billion, and has facilitated the listing of 89 portfolio companies.

Shandong Aikeda Biotechnology Co., Ltd. (ACCURDX), established in 2017, is an innovative enterprise centered on thrombosis and hemostasis testing technologies. It integrates the research and development, manufacturing, sales, and technical services of raw materials, diagnostic reagents, diagnostic instruments, and automated assembly lines. Its product portfolio encompasses coagulation testing systems, immunoassay systems, specific protein testing systems, and reproductive health testing systems, providing precise automated solutions for clinical diagnostics in areas such as hemorrhage and hemostasis, cardiovascular and cerebrovascular diseases, and colorectal cancer screening.