Xining Bio Completes RMB 130 Million Series B Financing to Advance Bioanalytical and Companion Diagnostics Capabilities

VCBeat (WeChat: vcbeat) learned at the earliest opportunity that,Following the completion of its nearly RMB 100 million Series A financing in April 2021, Accurant BioTech has announced another milestone: the successful closure of a RMB 130 million Series B financing round. This round was led by Jinpu Healthcare Fund, with participation from Qiaojing Capital and other investors. Existing shareholders, including Sherpa Investments, Junxin Capital, and Haibang Investment, continued to support the company.

Accurant BioTech is a macromolecule bioanalysis laboratory compliant with international GLP and GCP quality management standards, providing professional macromolecule bioanalysis (BA) and companion diagnostics (CDx) product development services to biopharmaceutical companies in China and abroad.

Since its establishment four years ago, Accurant BioTech has achieved rapid growth. The company currently operates GLP-compliant laboratories in Ningbo, Shanghai, and New Jersey, USA, with a total operational area exceeding 6,500 square meters. It boasts multiple specialized technical platforms, including immunoassay, flow cytometry, genetic testing, cytology, LC-MS/MS, and histopathology. With a scientific team of over 120 members, Accurant BioTech has established project collaborations for clinical and preclinical research with nearly 100 pharmaceutical and biotechnology companies both domestically and internationally. The company is currently investigating more than 60 targets and has supported over 200 clinical trials. Furthermore, it has accumulated extensive practical experience and competitive advantages in emerging fields such as cell and gene therapy (CGT) and bispecific/multispecific antibodies. Accurant BioTech has supported nearly 50 clinical studies on CGT products and over 50 clinical studies on bispecific/multispecific antibodies. Notably, it successfully facilitated the market launch of China’s first Class 1 innovative CAR-T product, JWCAR029® (Relmacabtagene Autoleucel Injection), developed by WuXi JiNuo.

This round of financing will be used to consolidate Accurant BioTech’s service advantages in the field of biologics, including cell and gene therapy products, bispecific/multispecific antibodies, and antibody-drug conjugates (ADCs); expand technical service capacity; accelerate the development of its companion diagnostics business; and further strengthen its ability to provide one-stop analytical testing solutions for preclinical and clinical studies of biopharmaceuticals.

“We are committed to providing macromolecule bioanalysis and companion diagnostic development services that meet international quality standards for biopharmaceutical companies in China and overseas.”Huang Qikuan, Co-founder and Chairman of Accurant BioTech, stated:“Within less than a year, the company successfully completed nearly RMB 100 million in Series A financing and RMB 130 million in Series B financing, securing ample resources for Accurant BioTech’s rapid development and strategic expansion. We extend our gratitude to both new and existing investors for their recognition and support of Accurant BioTech. We also thank our domestic and international clients, as well as all Accurant team members, for their strong support and outstanding contributions to the company’s growth. Together, we look forward to a promising future!”

Ms. Gu Guan, Executive Director of Jinpu Health Fund, the lead investor in this round, stated“The global and Chinese biopharmaceutical sectors are thriving, with particularly vigorous R&D activity in novel biologics such as bispecific/multispecific antibodies, cell therapies, gene therapies, and nucleic acid drugs. Macromolecule bioanalysis provides critical data support for evaluating the safety and efficacy of biopharmaceuticals, leading to a surge in demand for high-quality bioanalytical services amid scarce supply. Accurant BioTech is a rare domestic macromolecule bioanalytical laboratory that complies with international quality standards. Its rapid development over the past four years has fully demonstrated the core team’s strong leadership, execution capabilities, and leading expertise in bioanalytical projects. We are delighted to partner with Accurant BioTech and believe that, under the guidance of its founding team, the company will continue to deepen its expertise and emerge as a leading enterprise in analytical testing for preclinical and clinical biopharmaceutical research.”

Jinpu Health Fund is a specialized private equity fund under Jinpu Investment, focusing on equity investments in the healthcare and medical industry, with assets under management exceeding RMB 2 billion. Since its establishment in 2015, the fund has invested in nearly 40 companies across the fields of biotechnology and pharmaceuticals, medical devices, in vitro diagnostics (IVD), and healthcare services, all of which are industry leaders. Guided by the core values of “upholding truth and pursuing excellence,” Jinpu Health Fund practices a corporate culture of sharing and growth, striving to be a discoverer and creator of value while growing alongside outstanding entrepreneurs.