Diagens Secures Over RMB 100 Million in Series C Funding to Accelerate Nationwide Preconception Health Screening Services and Submits IPO Prospectus

Recently, Hangzhou Diagens Biotechnology Co., Ltd. (“Diagens” or the “Company”), a leading domestic reproductive health enterprise, announced the completion of a financing round exceeding RMB 100 million. The round was led by Yuan Yi Investment, with participation from Meihong Investment and the Yuhang Economic Development Equity Fund, while existing shareholder Xiangjiang Liyuan Investment increased its stake.

China Renaissance served as the exclusive financial advisor to Diagens in this transaction.

This round of financing will be used to support Diagens in increasing its R&D investment in chromosome AI diagnostic technology and upstream reagents and consumables for assisted reproduction; meanwhile, it will also accelerate the deployment of preconception reproductive health testing services across China.

Founded in 2016, Diagens is a leading upstream enterprise in China’s reproductive health sector. The company has developed the world’s third-generation AI-powered chromosome analysis system, dedicated to addressing core technological challenges in human reproductive health and providing high-tech products and services to clinical hospitals, research institutions, and the general public. Its reproductive health testing and treatment products, underpinned by more than 60 core independent intellectual property rights, have gained significant clinical recognition. These products are marketed in both China and the European Union and have been adopted by hundreds of Grade A tertiary hospitals across China. The company’s proprietary online platform for reproductive health testing delivers precise, intelligent testing and treatment services to China’s annual pre-conception population of 40 million individuals.

Currently, with the support of relevant national authorities, Diagens is actively contributing to regional birth defect prevention by shifting reproductive health screening to an earlier stage. The company provides pre-conception reproductive health testing services to residents in multiple regions, thereby reducing miscarriages and birth defects at the source, improving overall population quality, and advancing China’s public health standards to a new level.

Dr. Song Ning, Founder and Chairman of DiagensHe stated, “We extend our heartfelt gratitude to both new and existing shareholders for their trust and support. The completion of our Series C financing marks a new chapter in Diagens’ development. Against the backdrop of increasingly prominent demographic challenges, we will intensify our focus on R&D investment and market expansion, deepen collaborations with government agencies, hospitals, universities, and other stakeholders, accelerate the localization of our products, enhance service quality, reduce the incidence of birth defects, and jointly improve reproductive health outcomes. Upholding our sense of mission and responsibility, we remain committed to driving innovation and development, creating greater value for society, and ensuring the better continuation of life.”

Gao Ying, Medical Partner at Yuanyi Investment“The statement read: ‘As China’s economy develops, its demographic structure is undergoing change. The report to the 20th National Congress of the Communist Party of China explicitly called for establishing a policy system to support childbirth and reducing the costs of bearing, raising, and educating children. Achieving this major strategic objective in population development requires support from numerous advanced technologies and products. Diagens has built a full-cycle service matrix for reproductive health encompassing “front-end diagnosis + back-end treatment,” and pioneered AI-based karyotype diagnostic technology. By offering these solutions at affordable prices, Diagens helps shift China’s birth defect prevention and control system upstream, thereby reducing the familial and societal burdens potentially caused by birth defects. We are honored to serve as the lead investor in this funding round, accelerating the widespread adoption of Diagens’ advanced and accessible technologies. We believe this will be of great significance in enhancing family well-being and raising the national fertility rate.’”

Chen Yilong, Partner at Meihong InvestmentIt stated: “As a pioneer in the global field of AI-driven chromosomal diagnostics, Diagens has established a closed-loop ‘product-platform-service’ ecosystem. This system helps shift the birth defect prevention and control framework upstream, fostering a new market for precise, end-to-end diagnostics across premarital, preconception, and prenatal stages, and has become an effective tool for implementing the preconception eugenics objectives outlined in the 14th Five-Year Plan for National Health. Meanwhile, we are highly optimistic about the stable mass production of Diagens’ downstream IVF product portfolio, which holds significant potential for domestic substitution. We believe that under the leadership of Dr. Song, Diagens will further enhance its diversified, high-barrier service capabilities in vertical sectors, becoming a leading enterprise driving transformation in China’s reproductive health industry.”

Dr. You Xinnong, Chairman of Xiangjiang Liyuan“The investor stated, ‘We have continued to increase our investment in Diagens during this round, firmly bullish on the mid-to-long-term investment value in the field of assisted reproductive technology (ART). As a leader and innovator in third-generation chromosome testing technology, Diagens has begun to accelerate its clinical application, with implementation already underway in multiple provinces and municipalities. Chromosome karyotyping, as a key measure for primary prevention and control of birth defects, holds significant importance for societal efforts in reducing such defects. We believe that Diagens possesses critical advantages, including first-mover advantage, policy support, and access to expert resources, making its prospects highly promising.’”

Wang Bin, Managing Director of China RenaissanceIt stated: “With demographic shifts, the fields of reproductive health and assisted reproduction are ushering in significant opportunities, while also facing challenges such as bottlenecks in breakthroughs and low localization rates in advanced diagnostic technologies and medical devices/consumables. We recognize Diagens as a pioneer in the global field of intelligent chromosome analysis, possessing an internationally leading AI-based chromosome diagnostic system, while independently developing multiple devices and consumables at an internationally advanced level, making it a leading enterprise in China’s reproductive health sector. We are pleased to have assisted the company in securing support from renowned investment institutions during this financing round, and we look forward to the company’s continuous technological iteration and refinement, improvement of the industrial ecosystem, and greater contributions to human reproductive health.”

Far Wing Investment 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,” it focuses on investing in high-quality growth-stage enterprises in China. Far Wing Investment has deep expertise in core sectors such as advanced manufacturing, healthcare, enterprise services, and consumer goods. Post-investment, it is dedicated to helping portfolio companies access precise financial and industrial resources to enhance their value.

Far East Horizon holds 30 controlling stakes in hospitals, with over 15,000 beds, covering multiple cities across China. Currently, Yuanyi Investment manages assets exceeding RMB 5 billion. It has invested in a batch of high-quality enterprises in China’s emerging industries during their early to mid-stage development, including Tuhu Car Maintenance (lead investor in Series C), Peijia Medical (9996.HK, lead investor in Series C), MicroPort MedBot (2252.HK, joint lead investor in Series A), Lumi United (lead investor in Series B and C), Gauss Robotics (lead investor in Series B), MicroPort EP (688351.SH), Herui Medical (lead investor in Series B), Rokae Robotics (lead investor in Series C), and Changfeng Pharma.

Meihong Investment is a private equity investment firm established by several former shareholders and executives of Meinian Onehealth Healthcare (SZ: 002044) in collaboration with industry experts, while also attracting a group of outstanding investment professionals from the sector. Meihong Investment focuses on equity investments in growth-stage non-listed companies across the upstream, midstream, and downstream industries closely related to the healthcare and wellness sector. It leverages its extensive investment experience and industrial resources in the medical services field to empower its portfolio companies. Upholding the philosophy of “With Health Comes Future: Capturing Deterministic Value in China’s Health Investment Trends,” Meihong Investment is committed to investing in innovative healthcare solutions and strategically laying out an innovative ecosystem for medical services, aiming to become an incubation platform that helps Chinese healthcare startups set sail and thrive.

Xiangjiang Liyuan was established in 2014, with its core members hailing from China Merchants Xiangjiang Industrial Investment Management Co., Ltd. It is one of the first professional teams in China engaged in private equity investment. The core team has worked closely together for twenty years, cumulatively participating in the management of assets exceeding RMB 5 billion, and successfully exiting more than 30 projects through IPOs, mergers and acquisitions, private placements, and agreement transfers. Xiangjiang Liyuan focuses on the big health sector, extending its investment stage towards early and mid-stage ventures, with a commitment to helping enterprises succeed. Since its establishment in 2014, its major invested projects include Hite Bio (300683), Nanxin Pharmaceutical (688189), Taihe Water (605081), Chongqing Shanwaishan (688410), Shanghai Electric Kangda Medical, Shenzhen Shankang Medical, Hunan Tairui Medical, Chengdu Yitai Technology, Zhengqing Pharmaceutical, and Hunan Jinyi Environmental Protection.

Capital Galaxy is a leading investment bank in China’s new economy, focusing on three major sectors: global TMT, consumer, and healthcare. Beyond its investment banking services, Capital Galaxy manages one RMB-denominated fund and one USD-denominated fund. The firm has offices in Beijing, Shanghai, Shenzhen, and Los Angeles, and holds a license to operate in the U.S. securities market.

The healthcare and medical sector is a key focus area where China Renaissance Capital holds significant competitive advantages, having ranked as the new-economy investment bank with the highest number of healthcare industry transactions in China for six consecutive years. Meanwhile, China Renaissance Capital boasts the largest, most professional, and most comprehensively integrated healthcare investment banking team in China, covering the entire industry value chain.