Bailige Bio Completes RMB 300 Million Series A Financing to Further Strengthen Its Position in IVD Upstream Core Raw Materials

VCBeat has learned that Shanghai Biogle Biological Technology Co., Ltd. (“Biogle Bio”), a core raw material supplier for in vitro diagnostics and nucleic acid therapeutics, recently announced the successful completion of its RMB 300 million Series A financing round. The round was led by The Carlyle Group through its RMB-denominated fund, with participation from CICC Qide Fund under CICC Capital and YuanBio Venture Capital. China Renaissance served as the exclusive financial advisor to Biogle Bio in this transaction.

Bailege Bio was established in 2011. Its founding team previously held executive positions at Fortune 500 healthcare companies such as GE and Thermo Fisher Scientific, bringing extensive technological expertise, industrialization experience with multinational pharmaceutical enterprises, and strong management capabilities.

Positioned within the in vitro diagnostics (IVD) industry, the company operates in the upstream segment of the gene/molecular diagnostics value chain, which is closely linked to precision medicine. It focuses on providing core raw materials and specialized technical services to mid- and downstream clients. Its primary customers include biomedical enterprises engaged in the research, development, and manufacturing of Class III medical device diagnostic kits, as well as those dedicated to early cancer screening and the diagnosis of various serious and critical diseases. The product portfolio encompasses a wide range of fluorescently labeled probes and NGS library preparation kit probes required by the market. Customized technical services include gene sequencing, whole-gene synthesis, and assay design. Applications of its products and services span viral detection, screening for serious and critical diseases, gene therapy drug development, forensic identification, inspection and quarantine, and food safety monitoring.

In terms of product and technology development, the company has long focused on addressing the pain points and challenges faced by industrial clients, striving to resolve bottlenecks in key upstream raw materials. By combining systematic technological breakthroughs with a unique Lean Six Sigma performance excellence management system, the company insists on equal emphasis on tackling key technologies and continuous improvement through micro-innovation. It has achieved remarkable results in product R&D and technological innovation, particularly in the industrial-scale manufacturing and supply of DNA probe primers and nucleic acid drug raw materials. The company has solved the most critical issues of stability, uniformity, and reliability concerned by the industrial market, successfully building a “professional, efficient, fast, and reliable” supply system, and realizing high-quality domestic substitution for related products and services.

After more than a decade of sustained efforts, Bailige has emerged as the leading enterprise in raw material supply within its relevant niche sectors. It has been certified by the State Economic and Information Commission as a “Specialized, Refined, Differential, and Innovative” (SRDI) Little Giant enterprise, and has received numerous honors, including certification for Shanghai’s High-Tech Achievement Transformation Project (Category A) and the Government Quality Award.

Throughout years of production and business operations, Bailige has introduced the concepts of Lean Six Sigma management, emphasizing value creation and process optimization. Under the guidance of Master Black Belts with extensive management and practical experience, the company has successfully applied advanced statistical analysis tools to direct market customer information management, product technology development and updates, and continuous improvement in production and operations. This has made company operations smoother and more efficient. Building on this foundation, and integrating the development and dissemination of an advanced corporate culture, Bailige has formed its unique “Bailige Excellence Performance Management System.” It is believed that this management system will play a significant driving role and exert an increasingly important influence in Bailige’s future business development.

Li Jun, General Manager of Bailige Bio“The in vitro diagnostics (IVD) sector has maintained rapid growth in recent years. As a critical bottleneck within the industry chain, the diagnostic raw materials market has long been dominated by multinational corporations. However, driven by factors such as technological upgrades among domestic players and the impact of the COVID-19 pandemic, the substitution of imported products with domestically produced alternatives is accelerating. The successful completion of this financing round not only affirms the years of dedicated efforts by the Bailige team but also injects strong momentum into the company’s future development. It will enable the company to expand its product pipeline as needed while further deepening its presence in the upstream key raw materials sector to overcome technical challenges. We extend our gratitude to the numerous renowned investment institutions for their trust and support. Moving forward, the company will leverage its high-standard industrial-grade synthesis platform, strengthen deep customer engagement through brand influence and co-development capabilities, and continue to invest in R&D to improve raw material technologies, thereby further consolidating its leading market position.”

Yang Ling, Managing Director of The Carlyle Group’s Asia TeamIt stated: “In the context of precision medicine, clinical demands for assay sensitivity, specificity, and accuracy have become more stringent, which in turn has raised performance requirements for upstream raw materials. The Carlyle Group is highly optimistic about the company’s accumulated R&D, production, and sales advantages in the upstream raw materials sector, and will continue to support the company in extending and replicating these strengths to other diagnostic and therapeutic raw material fields, thereby achieving a full industry chain layout for core raw materials used in in vitro diagnostics (IVD) and nucleic acid-based drugs.”

Liang Ying, Managing Director of CICC Capital and Head of the CICC Qide Fundstated: “The Bailige team has extensive and successful experience in product R&D and commercialization, as well as in establishing production and operational systems and delivering strategic insights. We are optimistic about the company’s business model, which features a comprehensive upstream layout of raw materials for both diagnostics and therapeutics. We highly recognize the team’s professionalism, management capabilities, and service efficiency, and look forward to more milestone achievements following this round of financing.”

Dr. Lin Yi, Managing Partner at YuanBio Venture Capitalstated: “As a leading enterprise in the upstream sector of China’s in vitro diagnostics (IVD) industry, Biolyte boasts a comprehensive R&D, manufacturing, marketing, and service system, along with first-class management capabilities. We are optimistic about the company’s development roadmap for upstream raw materials in diagnostics and therapeutics, and we look forward to collaborating with Biolyte to jointly advance the IVD and biopharmaceutical industries by delivering high-quality raw material products and services.”

As the investment banking advisor for this transaction,Dr. Zhang Xiao, Partner at China Renaissancestated, “China’s in vitro diagnostics (IVD) and biopharmaceutical industries have experienced rapid development in recent years, driving sustained demand for upstream raw materials. Leveraging its robust product quality and premium services, Bailige Bio has accelerated its business growth and continuously expanded its customer base. We are honored to have assisted the company in closing this round of financing and look forward to seeing it achieve further breakthroughs in the future.”

Shanghai Bailige Biotechnology Co., Ltd., a high-tech enterprise, has been certified as a “Specialized, Refined, Differential, and Innovative” (SRDI) Little Giant by the State Economic and Information Commission. It has received multiple honors, including certification for Shanghai’s High-Tech Achievement Transformation Project (Category A) and the Government Quality Award.

The company integrates professional management, R&D, production, and service teams, leveraging internationally advanced DNA synthesis and sequencing technologies, as well as advanced service platforms for whole-gene synthesis and genotyping. It specializes in establishing and providing high-quality DNA synthesis/sequencing, experimental, production, and various customized services. Bailige boasts strong production and service capabilities in primer and probe synthesis. Building on advanced synthesizers, a professional team of R&D and production technicians, and mature synthesis and purification processes, the company has further introduced Lean Six Sigma management methodologies. Under the direct guidance of Master Black Belts with extensive management and practical experience, Bailige not only provides customers with high-quality, diverse primers but also strictly adheres to ISO quality control standards. By meticulously implementing standard operating procedures at every stage and monitoring the synthesis of each primer throughout the entire process, the company actively employs Lean Six Sigma tools and methods to continuously optimize production and service workflows, ensuring the rapid, accurate, high-quality, and stable delivery of customized services to every customer.

Through years of sustained, high-intensity investment in product technology R&D, the company has made significant progress in recent years in the R&D and production of proteins, nucleic acid drug raw materials, and DNA/RNA biosynthesis.

The Carlyle Group (listed on the U.S. NASDAQ under the ticker symbol CG) is a global investment firm with deep industry expertise, managing $276 billion in assets as of June 30, 2021. Guided by its mission to “invest wisely and create value” for investors worldwide, Carlyle employs more than 1,800 professionals across 27 offices on five continents. With extensive investment and operational experience and resources in the global healthcare sector, Carlyle has invested in over 80 projects, with total investments exceeding $14 billion. Its portfolio companies are located across Asia, Australia, the United States, Europe, and other regions worldwide, covering all segments of the healthcare industry value chain. Notable international investments include Johnson & Johnson’s medical diagnostics business Ortho Clinical Diagnostics, PPD, a leading global drug development company, AMRI, a leading U.S.-based active pharmaceutical ingredient (API) manufacturing services provider, Metropolis Healthcare, a chain of pathology testing centers in India, Rede D’Or, Brazil’s largest private hospital group, and MAK-SYSTEM, a leading French healthcare software company. Investments in China include Hutchison MediPharma, Abbisko Therapeutics, Salubris Pharmaceuticals, Adicon Holdings, Ambow Pharma, MicroPort Scientific, Meinian Onehealth, and Haier Biomedical.

CICC Qide (Xiamen) Innovative Biopharmaceutical Equity Investment Fund (hereinafter referred to as the “CICC Qide Fund”) is an equity investment fund under CICC Capital Operations Co., Ltd. (hereinafter referred to as “CICC Capital”) that focuses on innovative pharmaceuticals, marking a significant breakthrough in CICC Capital’s strategic layout within the biopharmaceutical industry. Leveraging its strong performance record, reputable brand, and robust investment management capabilities, the CICC Qide Fund has gained recognition and support from numerous well-known fund-of-funds, institutional investors, listed companies, and clients of CICC Wealth Management. It successfully completed oversubscribed fundraising against market trends within a short period, becoming one of the largest RMB-denominated biopharmaceutical funds in the past two years.

YuanBio Venture Capital is an investment firm focused on early-stage and growth-stage opportunities in the healthcare and medical sectors. Headquartered at Suzhou BioBAY, it maintains a global reach. The firm currently manages approximately RMB 6 billion in assets and has completed investments in over 100 high-quality projects, primarily spanning new drug development, medical devices, in vitro diagnostics (IVD), and healthcare services. YuanBio has delivered substantial investment returns and has been repeatedly recognized as one of the Top 10 venture capital funds in China’s healthcare sector and as one of the most active healthcare investment institutions in China. By bringing together a team of seasoned professional investors and world-class scientific advisors, YuanBio leverages extensive experience in entrepreneurship, venture capital, and corporate operations within the biopharmaceutical industry. Through its focused strategy and rich industry resources, YuanBio is committed to becoming one of the most successful healthcare and pharmaceutical venture capital funds in China.

China New Economy Investment Bank Leader, Focusing on Global TMT, Consumer and Health Industries; In Addition to Investment Banking Business, China Renaissance is Managing a RMB Fund and a USD Fund, with Branches in Beijing, Shanghai, Los Angeles and San Francisco, and Holding a U.S. Securities Market License.

The healthcare and medical sector is a key focus area where Capital Equity (Yi Kai Capital) holds significant competitive advantages, having ranked as the new-economy investment bank with the highest number of healthcare industry transactions in China for four consecutive years. Meanwhile, Capital Equity boasts the largest, most professional, and most comprehensively integrated investment banking team covering the entire healthcare industry value chain in China.