Boyee Bio Group Secures Over RMB 100 Million Series A Funding and Breaks Ground on 45-Mu New Headquarters

VCBeat has learned that Boyi Bio Group, a specialized manufacturer of biological microspheres, announced the completion of its Series A financing earlier this year. The total size of this round exceeded RMB 100 million, led by Jinyu Maowu Investment Management, with participation from Bangsheng Capital, Weichi Equity, and Mr. Hua Guoping, founder of Hualan Shares. Puwan Capital served as the exclusive financial advisor.

Boyi Biotech Group: Rendering of the New Factory Building

Boyi Biotech Group owns three major brands: Tiandi Renhe, Boyi Biotech, and ACE, which are strategically positioned in businesses such as purification resins, core raw materials including IVD microspheres, scientific research reagents, and instruments. After ten years of accumulation, the company has achieved 100% localization of the biological microsphere production supply chain, with core raw materials now basically produced entirely in-house.

Among the three major brands, Tiandi Renhe, established in 2013, is a high-tech enterprise focused on the R&D and production of high-quality bio-purification resins, along with compatible consumables and instruments. It is one of the earliest companies in China engaged in the R&D and production of agarose microspheres, with a current maximum production capacity of 3,000 liters per batch.

In recent years, China’s biopharmaceutical industry has experienced robust growth, with the market size expanding rapidly at a five-year compound annual growth rate (CAGR) exceeding 20%, far outpacing the overall pharmaceutical market. Chromatography is the primary method for separation and purification in biopharmaceutical manufacturing, and agarose-based soft gels represent the most widely used and longest-established chromatographic media. Tiandi Renhe offers approximately 300 industrial-grade purification resin products across four major categories—affinity, ion exchange, hydrophobic interaction, and size exclusion chromatography—catering to the diverse needs of life science professionals. With superior product performance, its core indicators, including particle size, pressure resistance, and binding capacity, match those of imported products. Widely recognized by customers, the company has served over 3,000 clients globally.

Boyi Bio is rooted in the in vitro diagnostics (IVD) industry, providing customers with key raw materials and comprehensive solutions. Centered on core IVD materials such as diagnostic microspheres, the company has established advanced technological platforms and an innovative R&D system. Upholding the vision of “making the production process of IVD reagents more standardized and simpler,” Boyi Bio is committed to the localization of core raw materials and breakthrough innovations, creating greater value for customers and partners. Its raw materials, including chemiluminescence magnetic beads, have received acclaim from leading enterprises in the industry.

The ACE brand serves the life sciences research sector, with a mission to “save valuable time for researchers and accelerate the rapid development of the biotechnology industry.” It focuses on the development and application of high-efficiency biological reagents and instruments, striving to optimize routine biological experimental processes and provide efficient, high-quality, and cost-effective products to the broader community of biological researchers. ACE’s product portfolio, including precast protein gels, rapid blotting systems, and associated reagents, has gained widespread recognition among numerous research customers.

On April 19, the groundbreaking ceremony for Boyi Bio Group’s new manufacturing facility was grandly held at the West Taihu Lake Industrial Park. The event was attended by numerous dignitaries, including the Deputy Secretary of the Wujin District Committee of the Communist Party of China, the District Mayor, the Deputy District Mayor, and the Secretary of the Party Working Committee of the West Taihu Lake Science and Technology Industrial Park. With a total investment of RMB 300 million, the project covers an area of approximately 45 mu (about 3 hectares) and involves the construction of 45,000 square meters of facilities for office, R&D, and production purposes. The facility is designed with ten fully automated production lines for biological purification resins, capable of achieving a maximum single-batch capacity of 10,000 liters. The projected protein fermentation scale is expected to reach 5 tons. The facility is scheduled to commence operations in the second half of 2024. Upon reaching full production capacity, it will add an annual production capability of 50,000 liters of biomacromolecule purification media, with an estimated annual incremental output value of RMB 450 million.

Groundbreaking Ceremony Site

Fang Li, General Manager of Boyi Bio GroupHe stated, “We extend our sincere gratitude to Jinyu Maowu Investment Management, Bangsheng Capital, Weichi Equity, and Mr. Hua Guoping of Hualan Shares for their recognition and support in the successful completion of this funding round. For over a decade, our team has remained committed to microspheres as our core product, with the goal of ‘achieving domestic production of core biological reagents’ and the mission of ‘providing customers with an additional choice.’ Boyi Biological Group has established a strategic presence in three key areas: industrial purification media, raw materials for in vitro diagnostics, and life science reagents and consumables. With the enhanced resources and expanded operational capacity enabled by this financing round, we will continue to attract top industry talent, maintain our focus on the application of microspheres in the biotechnology sector, enhance product value, and ensure greater customer satisfaction.”

Li Hongsen, Partner at Jinyu Maowu Investment Management, the Lead Investor in This Round“It has been stated: ‘The upstream supply chain of the pharmaceutical industry has been a key focus area for Jinyu Maowu Investment Management in recent years, with biological microspheres representing a critical bottleneck link. Over the past decade, Boyi Biological Group has dedicated itself to the research, development, and application of biological microspheres, emerging as a standout player in the recent wave of domestic substitution. The company has established a 100% self-controlled production closed loop encompassing basic materials, functionalized microspheres, independent antibody development, and process validation. Meanwhile, it has expanded into three highly promising application sectors—large-molecule pharmaceutical manufacturing, scientific research, and in vitro diagnostics (IVD)—earning widespread recognition from customers. We believe that under the leadership of Mr. Fang, driven by a professional, focused, and entrepreneurially passionate young team, Boyi Biological Group is poised for an even more brilliant future.’”

Boyee Bio Group is committed to developing upstream and downstream tools for the life sciences, delivering product value to a broad customer base through professional technology and high-quality services. With the mission of providing customers with an additional choice, we strive to contribute to the advancement of life sciences and the improvement of human health.