Lanyu Biotech Files IPO Prospectus: 'One Chip for One Disease, One Device as a Full Lab' to Empower Grassroots POCT

“China has over 1 million medical institutions, but most IVD companies primarily serve the more than 10,000 tiered hospitals among them.”

“As the healthcare paradigm shifts from clinical medicine to preventive medicine, we must leverage the service value of over 990,000 primary care institutions to provide patient-centered, comprehensive solutions for disease prevention, diagnosis and treatment, and prognosis.”

Xu Hangshang, founder of Lansionbio, has over a decade of experience in the IVD sector and has personally witnessed the entire IPO process of a POCT company. His deep industry expertise has made him particularly attuned to shifts in the landscape: “As POCT rapidly becomes market-driven in China, the industry is undergoing subtle yet significant changes. For instance, hospitals at all tiers are increasingly demanding more advanced, comprehensive one-stop solutions, while primary care institutions require cost-effective one-stop solutions. There is also a growing trend toward decentralizing the diagnosis and treatment of common chronic diseases and specialized conditions from hospital laboratory departments to primary care settings, highlighting the immense potential of the primary care market.”

Therefore, Xu Xingshan co-founded Lansionbio in 2016 with a partner who has over 20 years of experience in the manufacturing and application of microfluidic chips. Centered on active microfluidic technology, the company has built a one-stop POCT service platform to provide comprehensive solutions for medical institutions at all levels, meeting the diagnostic and treatment needs of more than 990,000 primary healthcare facilities and over 200 million households.

To date, Lansionbio has developed nearly 500 product lines, exported to nearly 100 countries and regions, and completed seven rounds of financing. How does Lansionbio seize new opportunities in China’s IVD market and build a differentiated business model? Recently, VCBeat held a dialogue with Xu Xingshang.

In recent years, the Chinese IVD market has experienced rapid growth, with a pronounced trend toward domestication, and companies have entered a stage of full competitive participation. In the previous phase, the infrastructure for IVD development was established, and the supply chain became increasingly robust.In the next phase, new opportunities in the industry lie in penetrating grassroots levels and the OTC market, thereby propelling China’s IVD sector from purely clinical testing into the era of medical consumption.

Xu Xingshang likened the allure of the medical consumerism era to the disruptive innovation brought by smartphones: “The present can be viewed as the Nokia phone era. Promoting the adoption of diagnostic technologies at the primary care level and in the OTC market will usher in the smartphone era—that is, the medical consumerism era—unlocking a vast incremental market.”

China's IVD Market Boom Has Just Begun,China’s IVD market size is set to expand by tens of times, driven by the potential of primary healthcare institutions.This is akin to the Nokia era, when the market size for mobile phone calls was limited. With the advent of smartphones, which offered richer functionalities, the market experienced explosive growth. The same principle applies to the IVD market: IVD technology is not only used in clinical laboratories but also widely applied in disease prevention and screening, rational drug use, and health management."The Era of Healthcare Consumption" is dawning.

It is conceivable that future diagnostic technologies will be deeply integrated into residents' daily health practices. Primary healthcare providers can monitor indicators such as chronic diseases for residents, or individuals may purchase over-the-counter (OTC) testing products for self-assessment and manage their health based on the results, thereby driving consumption of pharmaceuticals, nutritional supplements, and fresh produce such as fruits and vegetables.

In such cases, a single technology or product can no longer meet the needs of primary healthcare institutions. It is necessary to establish an integrated platform that consolidates different methodologies, performs multi-parameter testing based on specific disease types, and provides a complete solution encompassing sample loading, detection, and result reporting.Lansionbio’s integrated testing workstation is accelerating the advent of the healthcare consumerism era.

To address the demand of primary healthcare institutions for diagnostic products that are precise, rapid, user-friendly, and offer exceptional cost-effectiveness, Lansionbio has developed an integrated diagnostic workstation.One Chip for One Disease, One Instrument as a Complete Laboratory, multi-parameter test results for various diseases can be obtained using small sample volumes and user-friendly, "foolproof" operations.

Based on the integrated testing workstation, technologies such as immunofluorescence, electrochemistry, dry biochemistry, and molecular diagnostics are integrated into a single chip to achieve platformization, helping primary healthcare institutions and tiered hospitals meet the needs for specialized diseases such as cardiovascular conditions, chronic disease management for the elderly, and child healthcare.

“Just as in the past, when various devices had single functions and people needed to carry mobile phones, cameras, and other items when going out, the smartphone era has integrated functions such as calling and photography into a single device.” Xu Xingshang explained the value of the integrated laboratory workstation in this way. Based on this system, the company has filed for more than 300 patents, with over 200 already granted, including more than 10 international patents.

The core support for the company's integrated testing solutions isActive Microfluidics TechnologyCompared with passive microfluidic technology, active microfluidic technology integrates processes such as sample separation, dilution, reaction, and detection onto a single chip. Combined with Lansionbio’s proprietary technologies, including unique material surface modification, it enables more precise control of the reaction process, lowers manufacturing costs, and delivers superior product performance and cost-effectiveness.

Currently, Lansionbio has established a complete industrial chain layout, spanning from the manufacturing of core raw materials for upstream instruments and reagents, to midstream integrated workstation solutions, and downstream commercialization channels. The company has developed nearly 500 product lines, covering approximately 90% of disease types including cardiovascular and cerebrovascular diseases, infections, and tumors, with multiple products being progressively commercialized. The company has entered a phase of exponential growth.

Among them, the company's developedHandheld Coagulation AnalyzerHas been implemented in multiple large tertiary hospitals across China. Traditional coagulation analyzers, represented by Sysmex, mostly use liquid reagents and are expensive. Lansionbio has miniaturized the coagulation analyzer into a handheld device suitable for various scenarios such as clinical settings and operating rooms, enabling monitoring of coagulation function and anticoagulant drug efficacy. The instrument is compact, easy to operate, cost-effective, and capable of testing with capillary blood. Moreover, its supporting dry reagents do not require cold-chain transportation, making it an ideal tool for coagulation testing at primary healthcare levels.

Furthermore, users of primary care and OTC products lack the sufficient capability to accurately interpret test indicators. Lansionbio integrates with internet healthcare to provide remote consultations, linking testing, diagnosis, and medication into a closed-loop healthcare consumption model, thereby achieving whole-course management of testing, diagnosis, treatment, and prognosis, as well as population-wide health monitoring.

Notably, in the era of healthcare consumption, it is an inevitable trend for diagnostic testing to extend from primary care settings to home-use scenarios. In the home diagnostics sector, Lansionbio has multiple products currently undergoing registration. These products have successfully transitioned various test items—including uric acid, blood glucose, renal function, liver function, blood lipids, and total bile acids—from invasive venous blood sampling to minimally invasive capillary blood sampling. They can be operated by non-professionals, with test data instantly uploaded to internet-based healthcare systems.

Xu Xingshang emphasized: “In the grassroots market, one term will resonate deeply in the future—broad-spectrum health screeningTertiary hospitals conduct targeted, precise testing, while primary care institutions focus on broad-spectrum health screenings to identify disease risks, referring patients to tertiary hospitals for further precise testing as needed. For instance, coagulation is a typical indicator for general health screening; abnormal coagulation may be associated with cardiovascular and cerebrovascular diseases, infectious diseases, and hematological disorders, making it highly suitable for implementation at the primary care level.”

Capitalizing on the rapid deployment of broad-spectrum health screenings at the primary care level, Lansionbio will continue to launch innovative microfluidic POCT products. While serving tertiary hospitals, the company will establish application models for innovative products in primary care settings, collaborate extensively with internet healthcare enterprises and pharmaceutical companies, build a public health platform centered on patients, and position itself as the leading enterprise in the new generation of the diagnostics industry ecosystem.