Leading Chinese Life Science Consumables Manufacturer NEST Biotechnology Completes New Round of Financing Led by Legend Capital and GL Capital, Files IPO Prospectus

VCBeat (WeChat: vcbeat) has learned that Wuxi Naisi Life Science & Technology Co., Ltd. (“Naisi”) recently held an online signing ceremony with six strategic investors, marking the official completion of its latest round of financing. The round was co-led by Legend Capital and GL Capital Group, with participation from CPIC Capital, Co-stone Capital, and others.

Nest Biotechnology, founded in 2009, specializes in the research and development, manufacturing, and sales of life science laboratory consumables. The company primarily offers cytology consumables, microbiological testing consumables, and molecular biology consumables, while also providing products related to in vitro diagnostics and medical devices. It is a leading manufacturer of life science consumables in China.

Mr. Yang Weidong, Chairman of Naisistated: “We are deeply honored to earn the trust and support of professional investment institutions, which help coordinate our connections with various nodes across the industry chain. We believe that this collaboration will accelerate Nices’ expansion of its high-quality product pipeline, further drive the company’s development, strengthen linkages between Nices and the life sciences sector, and promote balanced progress in both organic growth and external expansion. We remain committed to fulfilling our duties with diligence, focusing more intently on the research, development, and manufacturing of products in the life sciences field, continuously enhancing our comprehensive portfolio of life science tools and services, and improving our integrated service capabilities.”

Ms. Yang Jiajing, Director and Marketing Director at NaisiHe stated, “The life sciences industry chain is all-encompassing. With the acceleration of domestic substitution, it is anticipated that an increasing number of Chinese brands will emerge and enter the global race in life science and technology. The golden age of China’s upstream life sciences supply chain has arrived. Since officially entering the life sciences sector in 2009, NEST Biotechnology has cultivated its expertise quietly yet steadily, achieving remarkable overtakes on bends multiple times over the past decade and securing a position among the top tier in China’s life sciences industry. The efforts behind the NEST brand are now beginning to bear fruit, and we are deeply honored to be recognized by discerning investors like you. The participation of strategic investors will promote resource sharing within the life sciences sector, providing NEST with greater opportunities for in-depth collaboration with upstream and downstream partners as well as industry peers. This not only creates broader development space for NEST and the entire industry but also holds profound strategic significance for NEST’s horizontal expansion and vertical integration across the supply chain.”

Zhou Hongbin, Co-Chief Investment Officer of Legend Capitalstated: “Independent innovation drives the vigorous development of China’s life sciences sector, and a self-reliant, controllable supply chain is the cornerstone of industry progress. With over a decade of accumulation and growth, NEST has become a leading enterprise in China’s life sciences consumables market. We are impressed by the company’s team for their low-profile, pragmatic approach and dedication to refining products, thereby advancing the life sciences industry through the provision of high-quality consumables. Legend Capital is honored to have the opportunity to participate in NEST’s journey and extends special thanks to the company’s shareholders and management for their trust in us. We will provide proactive value-added services to help NEST become an outstanding life sciences consumables enterprise rooted in China and serving the global market.”

Mr. Li Zhenfu, Founder and CEO of GL Capital“The Chinese life sciences services industry holds immense potential. NEST Biotechnology is a leading enterprise in the domestic laboratory consumables sector. We strongly align with the company’s ambitious vision of ‘developing high-end consumable products and building an internationally renowned brand.’ We also appreciate Chairman Yang Weidong and his team for their deep industry insights, forward-looking strategic vision, commitment to global expansion under their own brand, and their determination and investment in innovation. As China’s life sciences services industry experiences rapid growth, achieving self-sufficiency and control over core process supply chains has become a key priority for national support over the next five to ten years. GL Capital Group will further deepen its strategic partnership with NEST Biotechnology, providing sustained support to enhance the company’s comprehensive value.”

CPIC Capital“It stated: ‘As a practitioner of the “Healthy China” strategy, China Pacific Insurance (CPIC) fully launched its grand health strategy in 2021 by initiating and establishing a grand health industry fund, and actively laying out investments in biopharmaceuticals and their upstream industrial chains. As an early-established laboratory consumables enterprise, NEST has developed quality control and cost advantages through in-house manufacturing across core segments of the industrial chain. After 13 years of brand dedication, it has become one of the leading domestic enterprises in the field of life science consumables. CPIC Capital is honored to have the opportunity to become a shareholder of NEST and hopes to leverage this investment as a catalyst to support the company’s new round of innovative development, jointly advancing the localization process of the life science industry supply chain.’”

Huang Xicheng, Partner at Co-stone Capital“He stated, ‘China’s life sciences support industry is in its early stages of development. In the past, international brands long monopolized the domestic high-end product market by leveraging their advantages in technology and brand recognition. Adhering to a strategy of independent brand development, NEST Biotechnology has cultivated the sector for over a decade and has now emerged as a leading enterprise in related fields within China. The entrepreneurial spirit demonstrated by Chairman Yang Weidong is truly admirable. Co-stone Capital will uphold its investment philosophy of “focused investment and dedicated service” to facilitate NEST Biotechnology’s better and faster growth, looking forward to the company making greater contributions to China’s life sciences support industry.’”

Currently, NEST Biotech has established a comprehensive and mature independent product development system in the field of life science tools and services, grounded in the manufacture of high-quality life science consumables. With over a decade of deep engagement in this sector, NEST Biotech has developed a robust business chain and domestic and international distribution channels, demonstrating strong integrated service capabilities.

As a leading domestic manufacturer of consumables for life science experiments and testing, NEST has long been committed to advancing the development of China’s life sciences and related fields, while providing high-quality tools for global research and development in this sector. With China’s strong policy support for premium domestically produced alternatives to imports and the cultivation of local brands, it is an imperative responsibility for every life science enterprise to strengthen independent R&D, secure proprietary intellectual property rights, and achieve autonomous production. Leveraging its product and R&D advantages, NEST has emerged as a representative force in promoting the localization of life science experimental and testing consumables in China. The recent introduction of strategic investors and the establishment of close collaborative partnerships hold profound strategic significance for NEST’s horizontal expansion and its vertical integration across the upstream and downstream value chain.

Guided by the commitment to “building an internationally renowned brand,” we have dedicated years to the research, development, and manufacturing of products in the life sciences sector. NEST boasts a 7,500 m² ISO Class 8 (100,000-grade) cleanroom and a 2,500 m² ISO Class 7 (10,000-grade) cleanroom, supported by mature production processes, specialized manufacturing equipment, and an experienced management team. The company has obtained ISO 9001, ISO 13485, ISO 11137, FDA, and CE certifications, as well as a Medical Device Manufacturing License, establishing itself as a leading domestic manufacturer of consumables for the life sciences industry.

Legend Capital, established in 2001, is a professional investment firm specializing in early-stage venture capital and growth-stage investments. Over the past two decades, Legend Capital has accumulated comprehensive and mature fund management expertise, along with extensive industry resources.

Legend Capital’s mission is to foster enterprise innovation and growth, drive industrial advancement, and promote social development through capital injection and managerial support. Over the years, Legend Capital has adhered to a proactive approach to value-added services, contributing to the rise of multiple world-class leading enterprises and supporting the development of numerous national-level “Specialized, Refined, Differential, and Innovative” (SRDI) Little Giant firms. Meanwhile, Legend Capital actively fulfills its corporate social responsibility by establishing an ESG framework and pursuing sustainable development.

GL Capital Group, established in 2010, has remained dedicated to investing in and advancing China’s healthcare sector. Committed to becoming the most trusted partner for leading industry enterprises, it strives to build a healthcare ecosystem that accelerates corporate growth, fosters collaborative win-win outcomes, and enables resource sharing.

China Pacific Insurance (CPIC) is a leading comprehensive insurance group in China and the first insurer to be listed on three exchanges: A-shares (Shanghai), H-shares (Hong Kong), and GDRs (London). Through its subsidiaries, CPIC provides customers with comprehensive risk protection solutions, wealth planning, and asset management services. In 2021, it was ranked 158th on the Fortune Global 500 list for the eleventh consecutive year. As the private equity fund management platform under the CPIC Group, CPIC Capital leverages the long-term and stable nature of insurance funds, operates in accordance with market-oriented principles, aligns with the Group’s strategic layout of “Greater Health, Greater Regions, and Big Data,” proactively supports major national strategies, serves the development of the real economy, facilitates technological innovation among Chinese enterprises, and strives to achieve new breakthroughs on the path toward high-quality development.

Co-Stone Capital is one of China’s earliest private equity investment firms. Established in 2001, it boasts over 20 years of investment management experience with assets under management exceeding RMB 60 billion. Its portfolio spans angel investing, venture capital (VC), private equity (PE), mergers and acquisitions (M&A), and private placements.

Co-stone Capital adheres to the investment philosophy of “focused investing and dedicated support,” cultivating and nurturing a cohort of industry leaders and niche market champions in the fields of technology, healthcare, and consumer services.