Haers Gene Secures Hundreds of Millions RMB in Series C Funding to Advance Integrated Molecular, Biochemical, and Immunoassay Diagnostics

VCBeat has learned that on August 8, 2022, Ningbo Health Gene Technologies Co., Ltd. (“Health Gene”) announced it had secured hundreds of millions of yuan in Series C financing. The round was led by Shenzhen Capital Group, with participation from Boyuan Capital, Hefeng Venture Capital, Yinzhou Industrial Investment, and Binjiang Open Investment. Previously, the company’s last financing round received exclusive investment from industrial investor Jinhe Capital.

This round of financing will be primarily used for exploring new technologies and product development.

Ningbo Health Gene Technologies Co., Ltd. was established in August 2011, committed to becoming the most distinctive provider of comprehensive solutions for medical laboratory services. The company focuses on two core business areas: clinical diagnostics and forensic science. It delivers comprehensive medical testing application solutions covering molecular diagnostics, immunodiagnostics, and biochemical diagnostics to healthcare institutions at all levels and centers for disease control and prevention. Additionally, it provides complete technical solutions to public security agencies and judicial institutions, including human DNA individual identification and kinship analysis.

In recent years, against the backdrop of supportive national policies, heightened public health awareness, and continuously expanding medical demands, China’s in vitro diagnostics (IVD) market has experienced rapid growth in scale. The traditional market landscape has been disrupted, new market vitality has been unleashed, and domestic brands are ushering in new opportunities for innovative development.Over the next 5–10 years, the in vitro diagnostics market will gradually complete import substitution and evolve into a landscape characterized by robust competition among domestic brands.

Looking at the present and future, from a technological perspective, laboratory testing methodologies will adopt a complementary approach in clinical applications; relying on a single technology or product is no longer sufficient to establish a long-term competitive advantage. As a country with a large population, China represents a substantial market in every application area. Molecular diagnostic technologies will continue to expand into more fields in the future, surpassing traditional biochemical and immunodiagnostics to become the technology with the largest share of the in vitro diagnostics (IVD) market.

The close integration of innovative technology with clinical applications is a prominent competitive advantage of Health Gene’s R&D. Notably, Health Gene began its forward-looking strategic deployment in multiplex nucleic acid testing technologies for molecular diagnostics in 2011. Leveraging the uniqueness and innovativeness of its technology, the company has launched market-leading products that fill existing gaps, including the Ruishibei Multiplex Detection Kit for Thirteen Respiratory Pathogens and the Human Papillomavirus (HPV) Genotyping Kit targeting E6/E7 oncogenes.In terms of its integrated layout strategy, Ningbo Health Gene Technologies Co., Ltd. has advanced rapidly, establishing a synergistic presence across molecular diagnostics, biochemical diagnostics, and immunodiagnostics to deliver comprehensive solutions for medical laboratory testing.

Mr. Yu Ding, Chairman and General Manager of Health Genestated: “First and foremost, we extend our sincere gratitude to both new and existing shareholders for their recognition and support, which have accompanied the company as it has grown steadily and rapidly in the IVD industry. The company continues to deepen its expertise in the development and clinical application of multiplex nucleic acid testing technologies in molecular diagnostics, further expanding its product and technology portfolio to deliver comprehensive solutions across medical laboratory fields, including molecular diagnostics, chemiluminescent immunoassays, and clinical chemistry diagnostics.”

Mr. Zhou Yi, General Manager of Shenzhen Capital Group’s Hongtu Medical Fundstated: “Ningbo Health Gene Technologies Co., Ltd. has long been committed to the independent development of innovative in vitro diagnostic technologies, particularly offering multiple comprehensive solutions in the field of multiplex nucleic acid testing. We highly recognize the team’s innovation capabilities, market expansion experience, and the company’s strategic layout within the industry. In the future, we will continue to support the company and its team in focusing on products and technology, driving the company to become an industry leader.”

Mr. Hao Bixi, Founding Shareholder of Jinhe Capitalstated: “With independent innovation as its core competency, Ningbo Health Gene Technologies Co., Ltd. boasts a comprehensive IVD product portfolio and stands as a high-growth enterprise in the industry. We are highly optimistic about the company’s technological foundation and development strategy. We will continue to leverage the industrial ecosystem advantages of our fund to empower Ningbo Health Gene Technologies, helping it become a nationally recognized Chinese brand with greater industry prominence.”

Mr. Tao Feng, Founding Partner of Boyuan Capitalstated: “Following our initial investment in 2020, Boyuan Capital has continued to increase its stake in this round. We highly endorse Ningbo Health Gene Technologies Co., Ltd.’s mission of ‘Making Society Safer, Making Life Healthier’ and its commitment to pursuing excellence in product quality. With profound technical expertise in multiplex nucleic acid testing, we look forward to the company’s team achieving breakthroughs in more application areas and are pleased to partner with such an outstanding enterprise.”

Mr. Zheng Run, Investment Director at Hefeng Venture Capitalstated: “We have been closely following Ningbo Health Gene Technologies Co., Ltd. for many years. The company has deeply cultivated the in vitro diagnostics industry and leverages its unique advantages in multiple molecular diagnostic technologies within the field of precision medicine. We believe that the success of this round of financing will help accelerate the company’s development in intelligent manufacturing and promote high-quality corporate growth.”

Mr. Li Shuai, General Manager of Yinzhou Industrial Venture Capitalstated: “Leveraging the unique advantages of its proprietary platform in multiplex testing solutions, Ningbo Health Gene Technologies Co., Ltd. develops and provides high-performance diagnostic products for clinical medicine, forensic science, public safety, and other fields. We are highly optimistic about Health Gene Technologies becoming a leading enterprise in this sector.”

Mr. Fang Liping, General Manager of Binjiang Development Investmentstated: “Ningbo Health Gene Technologies Co., Ltd. is committed to R&D and technological innovation, continuously expanding application areas around its core technologies. We are delighted to collaborate with Ningbo Health Gene Technologies to accelerate the commercialization of corporate technological achievements, and we have full confidence in the company!”

Shenzhen Capital Group Co., Ltd. is committed to its mission of discovering and empowering great enterprises, striving to be a discoverer and cultivator of innovative value. Since its establishment in 1999, SCG has managed total assets exceeding RMB 420 billion, invested in more than 1,000 innovative high-tech companies, among which 223 have gone public. Its portfolio spans industries such as information technology, internet, biotechnology/health, new energy/energy conservation and environmental protection, new materials, intelligent manufacturing, high-end equipment manufacturing, and consumer goods/modern services, covering the entire lifecycle of enterprises.

Established in 2018, the Shenzhen Capital Group Hongtu Medical and Health Industry Fund is the first medical and health industry fund launched by Shenzhen Capital Group (SCGC) as part of its “specialization” strategy. The fund focuses on identifying high-quality investment targets with strong innovation capabilities and significant growth potential, thereby driving industrial development. To date, the fund has invested in outstanding enterprises such as Akeso, YHLO, Mindray Medical, Lianxin Medical, Ante Medical, Yuanhua Intelligence, Kangsheng Medical, Shanghai Zhimeng, and GenFleet Therapeutics.

Jinhe Capital is an investment firm specializing in the healthcare sector, headquartered in Guangzhou. The core team of its fund manager possesses over 25 years of experience in the medical industry and successfully built KingMed Diagnostics, China’s largest third-party medical testing laboratory. Jinhe Capital currently manages two healthcare industry funds and will continue to make strategic investments in areas such as in vitro diagnostics, innovative medical devices, life sciences, and the innovative drug supply chain. By actively building an industrial ecosystem and leveraging the synergy between industry expertise and capital, Jinhe Capital aims to cultivate healthcare enterprises with international competitiveness.

BioTrack Capital, established in 2017, is a professional investment firm dedicated to investing in and incubating outstanding healthcare startups in the Chinese market. Currently, BioTrack Capital manages two RMB-denominated funds and two USD-denominated funds, with total assets under management exceeding RMB 7 billion. More than just an investor, BioTrack Capital serves as a long-term partner to entrepreneurs. Since its inception, the firm has remained committed to an entrepreneur-centric approach, providing sustained support and active empowerment to exceptional founders in the healthcare sector, fostering an industry ecosystem, and cultivating the next generation of leading enterprises in China’s healthcare industry.

Hefeng Venture Capital is a market-oriented investment platform under the Ningbo Industrial Investment Group, a state-owned enterprise affiliated with the Ningbo Municipal Government. It comprises a fund-of-funds segment and a direct investment segment, with assets under management exceeding RMB 14.5 billion. Leveraging the Industrial Investment Group’s robust industrial background and fund-of-funds resources, Hefeng Venture Capital strategically focuses on high-end manufacturing, semiconductors, new materials, and the digital economy. Multiple portfolio companies have completed initial public offerings (IPOs), been acquired, or are undergoing IPO review. Committed to fostering regional economic development, Hefeng Venture Capital actively fulfills its role in guiding state-owned capital.

Yinzhou Industrial Venture Capital Fund was established in November 2019, with a fund size of RMB 2.1 billion. It primarily invests in sub-funds or direct investment projects related to investment promotion, restructuring of listed companies, private placements by listed companies, strategic emerging industries, angel investments, industrial operations, and industrial real estate. To date, the fund has invested in two listed companies and three pre-IPO companies, establishing a comprehensive presence across multiple strategic emerging industries, including medical devices, semiconductors, and high-end manufacturing.

Beilun Binjiang New City serves as a key platform for Ningbo’s development into a modern coastal metropolis, a National Independent Innovation Demonstration Zone, and a global hub for intelligent manufacturing innovation. Ningbo Binjiang New City Development & Investment Co., Ltd. is the primary entity responsible for the development and construction of Beilun Binjiang New City. Guided by the overarching positioning of “Yongjiang Premier Waterfront, Global Eco-Innovation Core,” the company fully leverages its five major advantages in policy, location, environment, industry, and transportation. Undertaking the development and construction of major projects in Binjiang New City, Binjiang Investment facilitates regional industrial transformation and upgrading, striving to build a “globally oriented frontier source of scientific and technological innovation and a high-quality open waterfront desired by all,” thereby creating a new city of excellence that is both livable and conducive to business.