LingFu Bio Secures Over RMB 200 Million in Pre-A Financing to Build China's Leading Integrated Platform for Experimental Animal Models and Scientific Research Services

VCBeat has learned that Beijing Lingfu Biotechnology Co., Ltd. (“Lingfu Bio”) recently completed a pre-A financing round of over RMB 200 million. The round was led by China Life Equity, with Legend Capital as co-lead investor. Changfazhan Capital, Puhua Capital, and Saifu Pharma participated as follow-on investors, while ROBE CAPITAL served as the financial advisor. The proceeds will primarily be used to develop experimental animal resource bases and laboratories.

Lingfu Biotechnology was jointly incubated and established by Beijing Saifu Pharmaceutical Research Institute Co., Ltd. (hereinafter referred to as “Saifu Pharma”), Beijing Renyuan Xinsheng Biotechnology Co., Ltd., and other renowned companies, along with an expert team from the laboratory animal industry. Previously, Lingfu Biotechnology completed an angel financing round of nearly RMB 50 million. Lingfu Biotechnology is committed to becoming China’s first scientific research service provider integrating the entire industrial chains of laboratory animals and animal models with high-value-added research services, thereby empowering innovation in life sciences.

Experimental animals and model animals, serving as carriers, run through critical stages of drug development and constitute a key support for the biopharmaceutical industry. The coverage and quality of animal models directly impact the success rate of subsequent clinical trials. According to Frost & Sullivan statistics, the global market size for experimental animal models was approximately $16.1 billion in 2020 and is projected to reach around $24.8 billion by 2025. In contrast, the Chinese market represents a blue ocean; with a small market size of only about $1.2 billion in 2020, it holds substantial growth potential compared to the global market.

As a potential leader in the laboratory animal industry, Lingfu Biology boasts high-quality assurance of animal resources, leading capabilities in large animal model services, and advanced scientific research service technologies. Its core technical team comprises renowned industry experts, seasoned technical specialists with extensive experience in animal research services, and breeding experts with over a decade of experience in laboratory animal breeding.

Currently, Lingfu Bio has established a Beagle dog and marmoset resource base for experimental use in the Yangtze River Delta, as well as a cynomolgus monkey and miniature pig animal resource base for experimental use in Hainan. This strategic layout has enabled the company to build capabilities in the breeding, conservation, and genetic improvement of major laboratory animals, import substitution, and the development of a high-quality industrial chain. These efforts provide robust resource support for the R&D, innovation, and experimental needs of clients in the biopharmaceutical industry, top-tier research institutions, and hospitals.

Notably, Lingfu Bio’s technical team possesses robust capabilities in animal disease model development, with extensive experience in both gene-editing and surgical modeling, particularly maintaining a leading position in China in the field of large-animal modeling. Currently, the company focuses on brain science and the nervous system, as well as oncology, to develop innovative model products. It has amassed substantial innovative technologies and practical expertise in behavioral assessments for both small and large animals, stereotactic brain surgery in small and large animals, and molecular imaging technologies. These capabilities help advance life sciences and pharmaceutical innovation to greater depths, broader scopes, and higher levels, providing strong technical support for the high-quality development of the scientific research industry. Lingfu Bio operates multiple animal facilities and laboratories in Beijing and Shenzhen, with a total operational and under-construction area of nearly 20,000 square meters, serving animal research needs in the biopharmaceutical industries of the Beijing-Tianjin-Hebei region and the Guangdong-Hong Kong-Macao Greater Bay Area.

In the future, Lingfu Bio will accelerate the achievement of its “Three Transformations” goals—systematizing corporate resources, productizing model offerings, and platformizing services—to establish a high-quality experimental animal resource system and secure a leading domestic position in the supply of beagles, minipigs, and non-human primates, as well as in model development and service capabilities.

Regarding the investment in Lingfu Bio, the lead investor China Life Equity“It was stated that ‘experimental and model animals are vital tools supporting innovation in life sciences, with significant potential for industry upgrading and broad scope for domestic substitution. Lingfu Biology possesses leading capabilities in securing animal resources and providing large-animal model services, demonstrating the potential to become an industry leader. It is poised to become China’s first integrated research service provider combining the full industrial chains of experimental animals and animal models with high-value-added innovative scientific research services. China Life Equity Investment aims to partner with and support Lingfu Biology in establishing a high-quality guarantee system for experimental animal resources, building world-class technical capabilities in model animals, bridging the gap between original life-science innovations and cutting-edge biopharmaceutical industries, enhancing the autonomy and stability of China’s life-science industry chain, and facilitating high-quality industry development.’”

Wang Jianfei, Managing Director at Legend Capital“The experimental animal industry helps improve efficiency and reduce costs during the R&D phases of pharmaceuticals and medical devices. Demand for laboratory animals and model organisms is experiencing rapid and sustained annual growth; however, China’s animal resource distribution remains fragmented, and capabilities for developing large-animal models are scarce. The Lingfu Bio team possesses extensive experience in corporate operations management and has accumulated years of expertise in laboratory animal breeding and animal model development. We are honored to partner with Lingfu Bio and look forward to its swift achievement of full-industry-chain coverage in laboratory animals, establishing itself as a leading domestic provider of high-quality laboratory animals across the most comprehensive range of categories, as well as a specialized supplier of distinctive animal models.”

Ms. Zhang Lei, Chairman of Lingfu Biostated: “The original intention behind establishing Lingfu Bio was to dedicate ourselves to building China’s industrial chain for laboratory animal resources, while simultaneously refining high-value-added model animals, particularly medium-to-large animal disease models that are technically challenging, scarce, and of significant scientific importance. In our view, high-quality laboratory and model animals are inseparable from robust scientific innovation; the two complement, reinforce, and promote each other. We are deeply grateful for the strong recognition from our investors. The Pre-A financing round has been significantly oversubscribed, and the entire team at Lingfu Bio is committed to moving forward with determination, living up to these high expectations. Additionally, it is worth highlighting that Lingfu Bio is building an open public resource platform, and we welcome more partners in the industry to collaborate with us.”

China Life Equity Investment Company was established in June 2016 as a specialized private equity investment platform under China Life Insurance. Adhering to the investment philosophy of “investing in the future, investing in innovation, and investing in value,” the company leverages the professional advantages of insurance capital and China Life’s sense of responsibility to serve national strategies, support the real economy, and demonstrate China Life’s commitment and contributions.

China Life Health Fund was initiated and established by China Life Equity Investment Co., Ltd. in November 2016. As a leading flagship health and medical industry investment fund in China, it was the first private equity investment fund approved for establishment with insurance capital following the issuance of relevant policies by the China Insurance Regulatory Commission (CIRC). Since its inception, China Life Health Fund has achieved extensive investment coverage in life sciences, medical technology, healthcare services, and digital health, investing in a portfolio of leading enterprises in China’s healthcare and medical industry.

Legend Capital, established in April 2001, is a fund management company under Legend Holdings, specializing in early-stage venture capital and growth-stage private equity investments. Over the past two decades, Legend Capital has adhered to international standards, established best practices in fund operations and management, and accumulated comprehensive experience in these areas, building an ecosystem-wide collaborative network across the entire investment value chain. Through its proactive value-added service system, Legend Capital fosters innovative growth in portfolio companies, delivering consistent strong investment returns across multiple sectors while driving industrial advancement and social development in China. With the vision of “becoming an investment firm with global influence,” Legend Capital upholds the core value of “Prosperity with Integrity” and actively fulfills its social responsibilities. Since entering the healthcare investment sector in 2007, Legend Capital has developed a systematic presence in the CRO/CDMO field, having invested in numerous CRO/CDMO enterprises, including WuXi AppTec, WuXi Biologics, Pharmaron, Bellen (Liuhe Ningyuan) Group, Noxfil, Saifu Pharmaceuticals, Diapharm Bio, Xihua Testing, Duchuang Medicine, ZhiXiang Biology, Kunling Medicine, BioDuro-Sundia, and Simcere R&D.

Chang Development is a one-stop industrial ecosystem investment and operation platform established by the Changping District Government, and also serves as the operator of the Changping Science and Technology Industry Fund. It oversees three major business systems: asset management, sci-tech finance, and industrial services. Focusing on key supported industries such as healthcare, intelligent manufacturing, and new energy, it provides enterprises with integrated, one-stop solutions encompassing industrial development carriers, industrial promotion services, and industrial investment and financing. The fund-of-funds system under Chang Development Capital has made over 240 investments in healthcare companies, with total investment exceeding RMB 8 billion. Among these, companies such as Eyebright Medical, InnoCare Pharma, and Genetron Health have successfully gone public. Meanwhile, it initiated and established the Changke Zhiheng Direct Investment Fund, strategically focusing on disruptive and innovative sectors with cutting-edge technological capabilities and significant social benefits, including innovative drugs, gene technology, medical devices, CRO/CDMO services, and upstream life sciences.

Puhua Capital, established in 2004, has long adhered to the philosophy of “deepening industrial engagement and investing in the future,” focusing on venture capital investments in four key sectors: new technology, healthcare, new energy, and new consumption. Since its inception, Puhua Capital has designated healthcare as one of its four core focus areas and has built a professional medical investment team. The firm continues to strengthen its traditional strengths in fields such as in vitro diagnostics (IVD), medical devices, and life sciences, while actively expanding into innovative drugs and pursuing strategic overseas investments to track early-stage, source innovations with significant application value. By the end of 2021, Puhua Capital had invested in more than 120 healthcare companies, including Micro-Tech, ACROBiosystems, Starnovo, Aimei Biology, Keyjia Robotics, Core Medical, and others.

Saifu Pharma is committed to becoming a world-class, one-stop pharmaceutical CRO service provider. It offers top-tier pharmaceutical CRO evaluation services and integrates technology development, financing, and the translation of innovative pharmaceutical products to provide enterprises with comprehensive R&D planning for innovative medicines. This accelerates the drug development process and helps companies grow faster. The company has established specialized technical departments covering pharmaceutical R&D consulting, NMPA/FDA registration and filing, drug screening, druggability assessment, model animals, pharmacology and efficacy studies, drug metabolism analysis, non-clinical safety evaluation, pharmaceutical formulation, biological sample analysis, Phase I clinical trials, and pharmacovigilance. These capabilities enable Saifu Pharma to deliver one-stop professional R&D services to pharmaceutical companies. The company has been honored with titles such as National High-Tech Enterprise, Beijing “Specialized, Refined, Differential, and Innovative” Little Giant Enterprise, Beijing Enterprise Science and Technology R&D Institution, Beijing Technology-Based SME, and Zhongguancun High-Tech Enterprise, and it operates two postdoctoral research workstations.

ROBE CAPITAL, established in 2017, is a boutique investment bank specializing in healthcare and life sciences. Its business portfolio encompasses financial advisory, direct investment, industry consulting, and innovation incubation. The founding team hails from leading private equity firms, financial advisory institutions, management consulting companies, and vertical healthcare media outlets. Since its inception, ROBE CAPITAL has consistently completed double-digit private financing and M&A transactions annually, with cumulative transaction values exceeding RMB 10 billion. The firm’s team brings mature industry expertise to corporate value-added services. In 2020, ROBE New Healthcare Fund was launched and has since invested in more than ten leading companies within the sector.