Yatong Bio Completes Nearly RMB 100 Million Series A Financing Led by Xingze Capital to Advance Life Science Lab Consumables Innovation

VCBeat (WeChat: vcbeat) has learned thatIn June 2022, Suzhou Yatong Biomedical Technology Co., Ltd. (hereinafter referred to as “Yatong Bio”) announced the completion of its nearly RMB 100 million Series A financing round. The round was led by Apricot Capital, with participation from Wuxi Guolian Xinchuang Private Investment Fund Co., Ltd., Borun Capital, and Zhejiang Hongshi. WinX Capital served as the exclusive financial advisor.The funds raised in this round of financing will be primarily used for the automation upgrade of the company’s production lines, while also expanding its new product pipeline.

Yatong Bio, established in November 2020, is a high-tech enterprise in the upstream life sciences sector, specializing in the research and development, production, and sales of biomedical consumables. The company provides customers with comprehensive solutions and customized services for related consumables. Leveraging over a decade of experience in product R&D and production management, along with accumulated industry channel resources from its core management team, Yatong Bio has rapidly expanded into the supplier systems of mainstream IVD (In Vitro Diagnostics) listed companies. With advantages comparable to imported products—including high stability and low cost—the company stands at the forefront of the trend toward domestic substitution of single-use plastic laboratory consumables in China.

The global biomedical industry is on a fast track of development, with robust demand for high-quality, personalized, and convenient laboratory tools and consumables. The pandemic has further accelerated industrial upgrading and consolidation. As domestic design, manufacturing, and production processes reach or approach international standards, companies that possess in-house mold R&D capabilities, innovate in raw materials and applications, and have the ability to expand into international markets will stand out. It will not be long before reliance on imports is broken. Yaton Bio boasts a comprehensive “R&D–Production–Market” feedback loop and will continue to expand its product lines and customized offerings, facilitating the iterative upgrading of life science experimental workflows.

Mr. Wei Xiaohu, Founder of Yatong BioHe stated: “We extend our sincere gratitude to Apricot Capital, Wuxi Guolian Xinchuang Private Investment Fund Co., Ltd., Borun Capital, and Zhejiang Hongshi for their recognition and strategic support of the company. We also thank WinX Capital for facilitating the rapid completion of this financing round. Amidst the broader trend of domestic substitution, we are committed to source-level and technological innovation on one hand, building a comprehensive platform for single-use plastic laboratory consumables through R&D in raw materials, intelligent manufacturing, and digitalized production and service systems, thereby addressing the shortcomings in China’s biomedical laboratory plastic consumables sector. On the other hand, we adhere to an internationalization strategy by replicating our systematic solutions in advantageous overseas markets, achieving a dual-drive strategic pattern encompassing both domestic and international operations, and providing higher-quality consumable products for laboratories.”

Dr. Chen Haigang, Partner at Apricot CapitalApricot Capital stated: "Apricot Capital is committed to fostering innovation and growth among Chinese life sciences enterprises, with the mission of driving progress and development in society and industry. As a critical link in the biomedical industry chain, the upstream sector—particularly within the context of domestic substitution—has been a key focus for Apricot Capital. Sustained national investment in scientific research, coupled with the R&D and production demands of IVD companies, has driven rapid expansion and growth in the laboratory consumables industry. Furthermore, as a representative sector of 'Made in China,' its global market prospects are even more promising. The production and quality control of laboratory consumables involve high technical barriers that require long-term accumulation of experience. The Yaton team, boasting rich industrial heritage and a broad international perspective, possesses leading technological R&D advantages in this track. The performance of its full-range products now rivals that of imported alternatives. We look forward to Yaton Biology becoming a core force in China's laboratory consumables sector."

Dr. Xue Zhifeng, Partner at Wuxi Guolian XinchuangIt is evident that the application scope of life sciences continues to expand, driving robust growth in the market for single-use plastic consumables in biomedicine. As domestic manufacturers continuously enhance their independent R&D and design capabilities, process innovations, and production management, the monopoly previously held by imported products is gradually being broken. Yaton Bio has established a comprehensive product portfolio that fully meets market demands. Its automated and digitalized production models will further boost production capacity, expand market share, and ensure the company’s active participation in international competition. With steadfast ambition and diligent practice, we strive to go far.

Mr. Yao Lei, Partner at Borun CapitalIt is indicated that, in line with the global development trends of biomedical consumables, domestic manufacturers have continuously improved product quality through technological and process optimization, leading to a steady increase in the market share of Chinese products worldwide. Yaton Bio’s product quality has reached or approached international advanced standards. Leveraging its sustained innovation capabilities and strong channel advantages, the company has rapidly entered and secured a leading position in key markets. Going forward, Yaton Bio will continue to strengthen its efforts in product performance, cost control, and market layout to ensure it maintains a proactive competitive stance.

Dr. Zou Guowen, Founding Partner of WinX CapitalStatement: Yatong Bio is an emerging star in the field of disposable consumables for biomedical laboratories. WinX Capital is honored to have assisted the company in completing its first round of financing and will continue to lead subsequent fundraising efforts. The founding team boasts profound expertise and, coupled with a deep understanding of the industry’s development pace, has precisely defined the company’s future strategic direction and commercial layout. We believe that with the support of all shareholders, the company will be further empowered to embark on a new chapter in intelligent manufacturing.

Apricot Capital, established in 2015, derives its name from the phrase “Xing Ze,” symbolizing “masterful healers of the apricot grove bringing benefits to the world.” Leveraging the power of capital, it partners with radiant entrepreneurs to address significant unmet clinical needs.

Apricot Capital’s investment team comprises more than 20 professionals with extensive experience in healthcare and life sciences investing, academia, and industry. The firm focuses on innovative biopharmaceuticals, medical devices (including life science instruments), and the innovative services value chain. Its current portfolio includes over 50 companies, with total assets under management nearing RMB 5 billion.

Since its establishment, Apricot Capital has focused on investing in outstanding early- and growth-stage enterprises in the life sciences industry, with investment projects covering biopharmaceuticals, medical devices, and healthcare services. Its portfolio includes more than 50 high-growth star companies such as Junshi Biosciences (01877.HK), Akeso Biopharma (09926.HK), China Antibody (03681.HK), RemeGen (09995.HK), HeartCare Medical (02160.HK), Sinnowa Pharmaceutical, Liuhe Ningyuan, InnoMicro, TopAlliance Biosciences, Yilian Bio, Qihe Life Sciences, Bowang Pharma, Tianze Yuntai, Shenqi Medical, Shengsheng Logistics, and PharmaCube.

Wuxi Guolian Xinchuang was established through mixed-ownership reform by the core business team of the former investment sector of Wuxi Guolian Group, serving as one of the key platforms for the market-oriented reform of Wuxi’s state-owned asset investment platform.

The company focuses on industrial sectors such as healthcare, integrated circuits, and advanced manufacturing, with assets under management exceeding RMB 2 billion.

In the healthcare sector, Guolian Xinchuang has invested in more than ten companies, including industry-renowned enterprises such as Hailai Xinchuang, TrinoMab, AnorMed, PegBio, SingJet, and Tangji Medical.

Borun Capital Investment Management Co., Ltd. is a capital investment management platform initiated and established by Borun Capital Holdings, with equity participation from Eastmoney.com, Xiamen Jinyuan Group, and SF Holding. Borun Capital is committed to building professional investment management capabilities across multiple asset classes. Its VC/PE investments focus particularly on high-growth opportunities in next-generation information technology, high-end equipment, the biological industry, new energy and new materials, as well as emerging consumer sectors.

WinX Capital is a leading investment bank in China’s healthcare and wellness sector. Headquartered in Beijing and Shanghai, it covers more than 3,000 active institutional investors and industrial groups. From 2020 to 2022, WinX Capital was consecutively recognized by QiMingPian & XinSheng ChuangFu as “Top 2 Best Financial Advisors in Healthcare for 2021,” “Top 4 Best Financial Advisory Firms in Healthcare for 2020,” and “Top 10 Most Active Financial Advisors for 2021”; by 36Kr as one of the “Top 5 Most Promising New-Type Investment Banks in China (WISE 2020/2021)”; and by VCBeat as one of the “Top 5 Pengcheng Award – Annual Healthcare Financial Advisors” in 2022.