ABclonal Secures RMB 1.2 Billion Series D Financing to Accelerate Full-Spectrum Expansion in Life Science Tools Industry

With the sustained rapid growth of the life sciences and healthcare industries, market demand for high-quality upstream products is increasing. Research reports indicate that the global market size for upstream life science tools has exceeded $100 billion and is expected to maintain a high growth rate. However, due to factors such as the late start of Chinese enterprises, high technical barriers in the industry, and patent blockades, international giants represented by Thermo Fisher Scientific and Danaher have long held a monopoly in the upstream sector. During the pandemic, this dependency led to a passive situation where access to critical equipment and raw materials was constrained. With the rise of China’s life sciences industry and the rapid global expansion of the broader health sector, the upstream tools industry is facing significant historical opportunities.

Founded in 2011, Abclonal has emerged as one of the leading life science tools brands in China, boasting superior capabilities in product R&D, technological iteration, and large-scale production, particularly in the field of upstream reagents. In 2021, Abclonal fully acquired Yurogen (U.S.), formally entering the pharmaceutical CRO sector. It subsequently invested in high-end equipment and automation projects such as Suzhou Mona Biotechnology, Suzhou Jitong, and Hubei New Zongke. As a result, the company’s products and services now comprehensively cover three major market segments: academic research, in vitro diagnostics (IVD), and drug development. Meanwhile, Abclonal’s global direct sales network has achieved extensive coverage across major countries and regions, including China, the United States, Europe, Japan, Singapore, Taiwan, and South Korea, with overseas revenue accounting for nearly 50% of its total. Following its latest round of financing, Abclonal will continue to increase investment in overseas channel development, fully realizing its vision of bringing China’s finest tool products to every laboratory worldwide.

Wu Zhicai, CEO of AbclonalUpstream tools constitute a critical segment of the life sciences industry. Whether supporting early-stage academic research, providing raw materials and precision equipment for in vitro diagnostics (IVD), or underpinning upstream drug discovery and manufacturing, these tools serve as the core value drivers enabling downstream application innovation and act as the source of innovation itself. ABclonal has always adhered to the philosophy of delivering the finest domestically produced products and services to its customers. The company has assembled a distinguished group of globally representative scientists, starting with reagents and gradually expanding into fields such as instrumentation and automation. ABclonal places significant emphasis on R&D investment in core upstream technologies, including antibodies and molecular enzymes. For each niche category, the company leverages multiple dimensions—talent acquisition, R&D investment, portfolio synergy, and global distribution channels—to propel its offerings to the forefront of their respective fields worldwide. The suite of instrumentation and automation platforms we have invested in is designed to provide foundational support for combinatorial innovation within the industry. As the dividends from domestic substitution inevitably slow down, only technological innovation and globalization will secure future success.

We are honored that HongShan and Luxin Venture Capital have continued to increase their investment in the company in this round. We also thank China Merchants Bank International Capital, Loyal Valley Capital, and other institutional investors in this round for their recognition of us. I believe that with the support of all shareholders, Abclonal will continue to achieve rapid development.

Zhou Kui, Partner at HongShanHongShan stated: “HongShan China pays close attention to opportunities in the upstream life sciences tools sector. The life sciences tools industry features complex products and a wide variety of categories, requiring enterprises and teams with an international perspective, a high-level strategic vision, clear core businesses, and outstanding capabilities in globalization and integration. ABclonal is precisely the ideal choice in this regard. We remain firmly confident in the founding team’s dedication to the life sciences tools sector and will continue to support ABclonal’s future development.”

Chen Lei, Chairman of Luxin Venture Capital Group Co., Ltd.Luxin Venture Capital Group stated: “The healthcare industry is a key investment sector for Luxin Venture Capital. As the foundational infrastructure of healthcare, life science tools have always been an area of our focused attention. Since getting to know the founding team of ABclonal in 2017, we have witnessed the vigorous development of China’s life sciences industry. The ABclonal team possesses a profound understanding of industry trends and a global perspective, with a clear corporate development strategy. Against the backdrop of supportive policies, abundant capital, and a concentration of talent in the life sciences sector, the company has assembled a world-class technical team, established a global sales network, and developed and integrated the most comprehensive product ecosystem, emerging as an outstanding enterprise with core foundational competitiveness. In 2018, Luxin Venture Capital served as the lead investor in ABclonal’s Series B financing round. We are honored to once again serve as a joint lead investor in the company’s Series D financing round, continuing to support its growth. We look forward to ABclonal becoming a world-class, great company that leads China’s life sciences industry onto the global stage.”

Head of China Merchants Bank International Capitalstated: “Abclonal is committed to providing high-quality products and services to customers in the global life sciences sector and is a leading player in China’s life sciences tools industry. We hope to leverage this equity investment as an opportunity, utilizing CMB International’s comprehensive financial services backed by China Merchants Bank, to support Abclonal and jointly drive the rapid development of the life sciences tools industry.”

Existing shareholders of Abclonal, including HongShan, Luxin Venture Capital, Jinhe Capital, Jifeng Capital, and Fanghe Capital, have extended a warm welcome to new shareholders such as China Merchants Bank International Capital, Loyal Valley Capital, and Beijing Taikang Investment. Both existing and new shareholders have unanimously expressed their commitment to pooling efforts to drive Abclonal’s growth and make meaningful contributions to China’s life science tools industry.

HongShan is committed to helping entrepreneurs build enduring, great companies by providing its portfolio companies with abundant global resources and valuable historical expertise. As “entrepreneurs behind entrepreneurs,” HongShan focuses on investment opportunities in three sectors: TMT, healthcare, and consumer goods/services. Over the past 16 years, HongShan has invested in more than 900 companies characterized by distinct technological advantages, innovative business models, high growth potential, and strong development prospects.

Luxin Venture Capital Group Co., Ltd. (abbreviated as “Luxin VC”, SH.600783), controlled by Shandong Luxin Investment Holding Group Co., Ltd., is the largest professional venture capital firm in Shandong Province and one of the most influential in China. As a key sector for Luxin VC’s strategic layout and investment, the life and health industry portfolio spans China, the United States, the European Union, Israel, and other countries and regions. Notable healthcare and medical companies in which Luxin VC has invested include 3D Medicines, RemeGen, Abclonal, Zhongke New Life, Silicon-based Bionics, Boying Medical, Rigor Biotech, Vmai Medical, Shiling Technology, Dajian Biologics, Mona Biologics, and TCR2 Therapeutics.

China Merchants Bank International Capital Management (Shenzhen) Ltd. (“CMB International Capital”), a wholly-owned subsidiary of China Merchants Bank International Limited, is tasked with leveraging the vast emerging financial market in China through dual linkages between onshore and offshore operations, as well as between investment banking and commercial banking. Since its establishment, CMB International Capital has accurately grasped industry development trends and capitalized on emerging opportunities, leading and participating in numerous prominent investment cases within the sector, thereby establishing itself as a leading private equity investment institution in China. Hubei Changjiang CMB Industrial Fund Management Co., Ltd. is a wholly-owned subsidiary of CMB International. The Hubei Changjiang CMB Industrial Fund, managed by this entity, is a market-oriented industrial fund established jointly by CMB International and the Hubei Provincial Government. The fund has made significant strategic investments in high-tech sectors such as healthcare, new energy, and intelligent manufacturing, and will continue to facilitate the rapid growth of high-tech enterprises through capital linkage.

Loyal Valley Capital has always adhered to the investment values of “long-term orientation, focus, and altruism,” striving to build China’s premier investment research and post-investment management teams. The firm covers three major sectors: new consumption, healthcare, and advanced manufacturing. By conducting in-depth industry research and providing proactive post-investment value-added services, Loyal Valley Capital partners with outstanding entrepreneurs to co-create great enterprises that represent the future growth direction of China’s economy and generate social value. Since its establishment in 2015, Loyal Valley Capital has invested in over 70 leading companies that exemplify the future trajectory of China’s economic development, including Bilibili, ByteDance, POP MART, Perfect Diary, NetEase Cloud Music, Jiangxiaobai, Junshi Biosciences, InnoCare Pharma, Abisko Therapeutics, CARsgen Therapeutics, Henlius, Supcon Technology, Bayi Space, Avary Holding, O-Net Technologies, and Unisoc.

Beijing Taikang Investment Management Co., Ltd. (hereinafter referred to as “Beijing Taikang Investment”) is among the first batch of insurance private equity fund managers approved by the former China Insurance Regulatory Commission, and it is the only privately-held private equity fund management platform under Taikang Asset Management. Leveraging the insurance, medical, and elderly care resources of Taikang Insurance Group, and adhering to Taikang Asset Management’s investment research-driven culture of pursuing excellence, Beijing Taikang Investment aims to establish itself as a leading, professional, and market-oriented private equity investment institution. Guided by a three-pronged investment strategy driven by direct investment funds, funds of funds, and insurance ecosystem resources, Beijing Taikang Investment focuses on investing in leading enterprises and top-tier vertical sector funds in the big health and innovative technology fields.