FireGen Biomedicals Completes CNY 100 Million Series C Financing to Achieve Full Domestic Substitution and Independent Innovation in Instruments, Chips, and Diagnostic Reagents

Recently, FireGen Biomedicals announced the completion of its C-round financing, amounting to hundreds of millions of yuan, in December. The round was led by the Haidian Jinyu Sci-Tech Innovation Fund of Beijing Zhongguancun Science City, with participation from the Zhongguancun Open Fund, Tianjin Sci-Tech Innovation Capital (under the Tianjin Municipal Government Fund), Guoke Capital, XinZhi Holdings’ Industrial Capital, Fujian Qianshui Capital, and funds under GSR Capital.

Previously, the company had secured backing from professional healthcare funds such as CCB Medical Growth Fund and Hairong Capital. This round of financing will further accelerate FanZhi Medicine’s innovative breakthroughs in the underlying technologies for nucleic acid instruments and chips, achieve comprehensive import substitution, promote the deployment of nucleic acid testing equipment to support primary healthcare systems, and advance mergers and acquisitions to extend the company’s supply chain.

It is understood that Fanzhi Medicine is one of the few companies in China’s nucleic acid testing sector with independent R&D capabilities across four foundational technologies: nucleic acids, microchips, mechanical engineering, and software. Co-founded by senior overseas-returnee scientists, researchers from the Chinese Academy of Sciences, and clinical experts, the company has adhered to independent innovation at the foundational technology level. Over nearly six years since its establishment, Fanzhi Medicine has launched a comprehensive solution for traditional nucleic acid testing, covering sample collection, nucleic acid extraction, diagnostic reagents, extraction instruments, and PCR instruments. This achievement has fully realized import substitution at the high-tech level within the industry. Meanwhile, the company has innovatively developed rapid nucleic acid testing instruments and chips featuring a “sample-in, result-out” workflow. Fanzhi Medicine remains committed to its original mission: “to integrate nucleic acid testing for major diseases into primary healthcare systems, enabling broader public access to efficient disease diagnosis and treatment services.”

Through persistent commitment to independent research and development, the company has secured over 100 proprietary intellectual property rights. It has successively overcome critical challenges, including the import substitution of high-tech components in nucleic acid testing systems, the localization of core raw materials, and the development of integrated rapid-testing chips. By establishing four advanced foundational technology platforms in the field of nucleic acid testing, the company has enhanced its capacity for product iteration and exponential growth. Adhering to innovation in foundational technologies has not only achieved import substitution but also positioned the company to compete globally. Its products are currently available in more than 30 countries worldwide, gaining significant traction in the US and European Union markets.

Beijing Fanzhi Medical Technology Co., Ltd. is headquartered in Zhongguancun, Haidian District, Beijing. It is a "Chuying" (Fledgling) Enterprise and a "Specialized, Refined, Differential, and Innovative" (SRDI) Enterprise, both key initiatives supported by the Beijing Municipal Government. The company has established a Joint Innovation Center with the Chinese Academy of Sciences (CAS) and engages in deep collaboration with multiple top-tier hospitals for product commercialization. Its large-scale GMP manufacturing facility in Kunshan, Suzhou, features Class 10,000 and Class 100,000 cleanrooms, meeting the registration and production requirements of China’s NMPA (formerly CFDA), the U.S. FDA, and the EU CE marking. The facility’s annual output value ranges from RMB 500 to 700 million. Equipped with a P2 laboratory, PCR laboratory, POCT laboratory, and microbiology testing room, the facility enables full domestication of the entire industry chain, including sample collection, extraction, diagnostics, as well as the manufacturing of extractors, PCR instruments, workstations, and POCT devices.

Song Keqing, Associate Researcher and Founder of Fanzhi Medicine, stated that the company’s rapid development in recent years has been driven by its strong team of scientists, operations experts, executive partners, and external expert resources. The company has consistently upheld the philosophy of a “community of shared enterprise,” standing alongside those who strive and persistently granting equity annually to responsible and high-achieving colleagues, thereby pragmatically fostering a collaborative and shared entrepreneurial community. Looking ahead, the company will continue to strengthen the development of its Joint Innovation Center with the Chinese Academy of Sciences and deepen its collaboration with Peking University People’s Hospital to upgrade the technical platform for early urine-based tumor screening and POCT products. This effort aims to make early diagnosis and treatment of major diseases more accessible, cost-effective, and intelligent while maintaining high accuracy, thereby enabling the general public to enjoy more convenient medical services.