BangQi Bio Completes Tens of Millions of RMB Series A Financing to Advance Autoimmune and Allergy Diagnostics

VCBeat (WeChat: vcbeat) has learned that Suzhou Bangqi Biotechnology Co., Ltd. (“Bangqi Biotech”) recently announced the completion of its Series A financing round, raising tens of millions of yuan. The round was led by Dunhang Capital, with JieLi Fund participating as a co-investor. The proceeds will be used to expand the product pipeline, file for medical device registrations, and accelerate project development. Notably, Bangqi Biotech successfully closed this Series A round amid the outbreak of the epidemic, providing significant confidence to startups and reinforcing the belief that high-quality enterprises will surely stand out.

Autoimmune diseases are complex and challenging to diagnose and treat, and have been classified as one of the ten major diseases in China. Following cardiovascular and cerebrovascular diseases and cancer, they are ranked by the WHO as the third greatest threat to human health. There are approximately 50 million patients with autoimmune diseases in China, among whom 17.414 million suffer from rheumatoid arthritis, ankylosing spondylitis, psoriasis, and systemic lupus erythematosus.

With the advancement of urbanization, the incidence of allergic diseases has been rising year by year, and the World Health Organization has listed them as one of the three key diseases for research and prevention in the 21st century. There are approximately 300 million patients with allergic diseases in China, and the number of asthma (Asthma) patients aged 20 and above alone has reached 45.7 million.

Although the patient population for autoimmune and allergic diseases is large, the industry is still dominated by overseas companies. There are few domestic participants, diagnostic technologies are relatively backward, diagnosis rates are low, and there is an urgent need to improve diagnostic efficiency. With the acceleration of urbanization, the rise in residents' disposable income, improved public awareness, the launch of therapeutic drugs, the implementation of tiered diagnosis and treatment, and the decentralization of medical resources, coupled with the state’s vigorous policy promotion since 2019 for major hospitals to establish departments of rheumatology and immunology, the autoimmune and allergy market is poised for rapid growth, demonstrating significant potential and a fast growth rate. Meanwhile, the overall trend of domestic substitution in medical devices will also provide broad growth opportunities for domestic manufacturers.

Bangqi Bio was established in 2020, with its products covering instruments and reagents for autoimmune and allergy diagnostics. The company has built a comprehensive product portfolio and assembled a full-industry-chain team encompassing R&D, manufacturing, registration & quality assurance, supply chain, and sales, thereby forming strong core competitiveness. While anchoring its offerings in mainstream methodological approaches, Bangqi Bio has proactively deployed multiple methodological testing platforms, developed upstream raw materials, and expanded downstream application scenarios.

Bangqi Biotech has launched a fully quantitative, dual-array, fully automated, high-throughput, and ultra-high-speed diagnostic system in the field of in vitro diagnostics for autoimmune and allergic diseases, leveraging its self-developed instruments and diagnostic reagents. This system reduces the clinical testing turnaround time from 3–7 days to under 1.5 hours, enables fully automated testing directly from primary tubes, and achieves a throughput of 5,400 test results simultaneously. Additionally, Bangqi Biotech’s products feature an end-to-end visual information management system and multi-level quality control functions, ensuring rigorous quality control throughout the entire process from sample intake to result output, thereby guaranteeing the stability and accuracy of multi-analyte test results.

Tao Rui, Founder of Bangqi BiotechStatement: Bangqi Bio focuses on the fields of autoimmunity and allergy, committed to addressing clinical and patient needs. It continuously develops related diagnostic reagents and advanced instruments. Through continuous optimization in testing turnaround time, automation, high-throughput capacity, and stability, Bangqi Bio’s products not only meet clinical demands but also, through industrialized operations, enable advanced medical technologies to transition rapidly, safely, and stably from the laboratory to clinical practice, thereby benefiting patients widely.

Zhou Ru, Dunhang CapitalIt was stated that the autoimmune and allergy markets have experienced rapid growth in recent years, while there is a strong clinical demand for rapid, fully automated diagnostic products. Bangqi Biotechnology’s instruments and reagents not only enable rapid multiplex testing and fully automated operation, but also allow simultaneous on-board testing of different assays, achieving high-throughput and fully quantitative detection. We are delighted to collaborate with Mr. Tao and his professional, efficient team, and look forward to the early market launch of Bangqi’s products, providing clinicians and patients with higher-quality solutions that are faster, more convenient, and more accurate.

Chen Yun, Relay FundIt was a pleasure to meet Mr. Tao and participate in this round of investment in Bangqi Biotech. We believe that significantly enhancing performance through mainstream methodologies to address clinical needs will accelerate product commercialization, driving transformation in both product offerings and market dynamics. Mr. Tao, in his second entrepreneurial venture, demonstrates exceptional organizational operational and market development capabilities, and has assembled an outstanding team covering the entire industry chain. We look forward to Bangqi Biotech’s rapid growth in the autoimmune and allergy markets and to deepening our collaboration.

Dunhang Capital is a professional equity investment management institution. It serves as the Vice President Unit of the Suzhou Venture Capital Association, a member unit of the Jiangsu Province Venture Capital Association, and one of the first batches of outstanding venture capital teams recognized by the Jiangsu Provincial Development and Reform Commission. The management team at Dunhang Capital possesses extensive experience in equity investment and government investment management, with its founding partners having nearly 20 years of experience in equity investment. The company currently manages 11 funds with a total asset under management (AUM) of nearly RMB 2 billion. It excels in integrating finance and capital operations based on a keen understanding of industrial development trends, committed to creating new value through the interaction between finance and industry.

Relay Fund was established in 2009 as a venture capital firm dedicated to investing in technology startups. The fund is capitalized by the Venture Capital Guidance Fund of the Ministry of Science and Technology, the China International Capital Corporation Qiyuan National Emerging Industry Venture Capital Guidance Fund, the Shanghai Venture Capital Guidance Fund, the Science and Technology Innovation Investment Fund of Funds, and other market-based investors. It focuses primarily on sectors such as new materials, healthcare, intelligent manufacturing, and related services. Relay Fund currently manages six funds with a total scale exceeding RMB 1.6 billion. Since its inception, it has invested in nearly 150 early- to mid-stage technology startups, supporting their growth journey.