MedLink Telemed Completes Over RMB 100 Million Financing to Accelerate Commercialization of Traumatic Brain Injury Blood Testing System

On September 22, Sophonix Co., Ltd. announced the completion of a new round of financing exceeding RMB 100 million. This round was led by prominent investors including CITIC Medical Fund, Huajin Investment, and existing shareholder ETP, with Zero2IPO Capital serving as the exclusive financial advisor. The funds will be primarily used to commercialize Sophonix’s domestic-first blood testing system for traumatic brain injury (TBI) and its MS-FAST® Pro series of chemiluminescence point-of-care testing (POCT) products, while also advancing the research and development of new products in the fields of brain injury and central nervous system disorders, cytokine storm detection, and related areas.

Sophonix is a high-tech enterprise in precision medicine with a global footprint, having grown into the leading provider of integrated single-test chemiluminescence solutions in China. The company is dedicated to developing and delivering precise and rapid diagnostic products, facilitating the decentralization of high-quality testing services and reducing societal healthcare costs.

The company possesses in-house R&D capabilities for both instruments and reagents, making it one of the few in the industry with“A company with dual independent R&D and innovation capabilities in both instruments and reagents.”Focusing on the POCT scenario, Sophonix Co., Ltd. has launched multiple testing platforms, including pathology diagnostics, immunoassay diagnostics, and molecular diagnostics, along with 36 reagent products. The company has obtained more than 40 authorized patents and software copyrights. Sophonix Co., Ltd. has established a global commercialization team, with over 30 products receiving CE certification, successfully entering international markets such as the European Union and the Middle East. Currently,Sophonix’s products have reached more than 1,500 end-user medical institutions across China., establishing advantages through scaled deployment, with market presence and sales entering a phase of rapid volume expansion.

In 2021, Sophonix Co., Ltd. achieved multiple milestone advancements:

In February, Sophonix’s 9,300 m² R&D and production base in Nanchang, Jiangxi Province was officially completed and put into operation., is a comprehensive industrial base integrating production, quality control, warehousing, and logistics, with a maximum annual production capacity of 50 million test kits.

In March, Sophonix successfully launched China’s first precise and rapid blood testing system for traumatic brain injury.This testing system is built upon Sophonix’s independently developed MS-FAST® series of single-test chemiluminescent immunoassay platforms. By detecting biomarkers such as GFAP (glial fibrillary acidic protein) and PGP9.5 (protein gene product 9.5, a brain-specific protein in human serum samples) in peripheral blood samples, it enables rapid detection of traumatic brain injury within 30 minutes. This helps clinicians obtain accurate and objective test results early, quickly rule out non-affected patients, and reduce unnecessary imaging examinations. Featuring the high sensitivity and high accuracy of magnetic particle chemiluminescence, this product extends the diagnostic capabilities typically available only in central laboratories of tertiary hospitals to various settings, including emergency departments, intensive care units (ICUs), and primary healthcare institutions.

In July, the MS-FAST® Pro series of fully automated chemiluminescence immunoassay systems, independently developed by Sophonix Co., Ltd., received regulatory approval.The MS-FAST®Pro incorporates Sophonix’s patented automatic blood sampling device. Compared with the previous-generation system, it adds a blood collection tube loading module, eliminating the need for manual sample loading and achieving true full automation. The MS-FAST®Pro 160/240 models feature an increased number of channels and support simultaneous testing of 24 different assays, making them better suited for emergency department workflows. In contrast to traditional chemiluminescent immunoassay systems, this series employs magnetic particle-based chemiluminescent immunoassay technology, enabling clinicians to obtain quantitative results more accurately and rapidly. Equipped with a single-photon counter, the system can detect trace substances in samples, delivering high sensitivity and high reproducibility comparable to those of international manufacturers.

Li Feng, General Manager of Sophonix Co., Ltd., stated, “This round of financing has received support from renowned institutions, including CITIC Medical Fund, Huajin Investment, and existing shareholder ETP, demonstrating that institutional investors have greater confidence in the market growth driven by POCT and tiered diagnosis and treatment. In 2021, Sophonix achieved milestone progress with multiple products. The funds raised in this round will be used to accelerate the commercialization of these products, while also speeding up the R&D of Sophonix’s portfolio in areas such as brain diseases and cytokine storms, thereby consolidating Sophonix’s leading position in the detection fields of brain diseases and cytokine storms.”

CITIC Medical Fund stated, “The COVID-19 pandemic has accelerated the adoption and implementation of POCT products. Sophonix’s R&D, marketing, and commercialization teams possess extensive industry experience. We value not only the rapid expansion and volume growth of Sophonix’s POCT products in the domestic market, but also the company’s continuous development of innovative testing solutions that address clinical pain points, while establishing a strong foothold in China and expanding globally. We are pleased to support Sophonix in its journey toward becoming a leading global innovator in diagnostic technologies.”

Huajin Investment stated, “Sophonix Co., Ltd. was established in 2017. Its core team boasts over twenty years of experience in the field of diagnostic and testing equipment, with outstanding achievements in their respective niche areas. With a seasoned expertise base and a fresh management team, the company has obtained nearly one hundred registration certificates within just four years, further validating its product selection and commercialization capabilities. Notably, this year it secured China’s first medical device registration certificate for a hematological test kit for traumatic brain injury (TBI), providing Chinese patients with mild brain injuries with the most convenient diagnostic tool ever available. This achievement has opened up an entirely new market for the diagnosis and treatment of mild brain injuries and is expected to provide more sensitive, timely, and efficient diagnostic tools for the future treatment of brain diseases in China, thereby further improving the quality of life for the population. We are honored to have the opportunity to participate in and support Sophonix!”

ETP stated: “The COVID-19 pandemic has accelerated the demand for upgrading and replacing products in the testing market, with global efforts dedicated to the development of innovative diagnostic technologies and products. Sophonix Co., Ltd. specializes in the development of detection systems for brain diseases and cytokine storms, committed to addressing current unmet diagnostic needs and enhancing the diagnostic capabilities of healthcare institutions at all levels. As an existing shareholder, we are honored to once again participate in the growth of Sophonix Co., Ltd., working together to develop innovative diagnostic products for the global market.”

Zero2IPO Capital stated, “Sophonix has consistently garnered extensive attention from the capital market and enthusiastic recognition from investors. The completion of this financing round will further accelerate the commercialization of the company’s core product lines and the rapid development of its exclusive, differentiated product portfolio, while solidifying its leading position in the field of innovative domestic chemiluminescence diagnostics. We are honored that Zero2IPO Capital has facilitated Sophonix in closing this financing round, and we look forward to the company partnering with more outstanding investors in the future.”

Sophonix is a high-tech precision medicine company with a global presence, dedicated to developing and providing precise and rapid diagnostic products. It aims to extend high-quality testing services to broader populations and reduce societal healthcare costs. Centered on point-of-care testing (POCT) scenarios, Sophonix has launched platforms for pathological diagnosis, immunoassay, and molecular diagnostics, offering 36 test reagent products covering brain disorders, cardiovascular diseases, inflammation, endocrine disorders, gastrointestinal conditions, and maternal and child health. Focusing on major clinical diseases, Sophonix optimizes diagnostic and treatment workflows to enable earlier intervention for more patients with critical and severe conditions. In March 2021, Sophonix successfully launched China’s first precise and rapid blood-based testing system for traumatic brain injury. For more information about Sophonix, please visit its official website: www.sophonix.net

CITIC Medical Fund is CITIC’s equity investment management platform focused on the pharmaceutical and healthcare sector, dedicated to building a comprehensive, value-added healthcare industry fund with deep capabilities in sector consolidation. The fund’s team comprises industry specialists with extensive operational experience at multinational pharmaceutical companies, as well as financial experts with deep expertise in the finance sector.

Huajin Investment is an investment platform under Huafa Group, a state-owned enterprise in Zhuhai and one of China’s Top 500 Enterprises. With total assets exceeding RMB 550 billion, Huafa Group is the largest comprehensive corporate group in Zhuhai and a well-known enterprise nationwide. It has been listed among the “China’s Top 500 Enterprises” for five consecutive years since 2016, ranking 259th in 2020. In recent years, Huafa Group has focused on industrial sectors such as advanced manufacturing, healthcare, and next-generation information technology. Through its multiple investment platforms, including Huajin Capital, Infinity (Yingfeinidi), and Zhuhai Science and Technology Innovation Investment, it has invested in more than 300 industry-leading and high-growth innovative enterprises. Notably, Huajin Capital was included in Zero2IPO’s “Top 50 Private Equity Firms in China” list for two consecutive years.

ETP Fund was founded in 2000 by Dr. He Wei Wu, a seasoned entrepreneur and investor, with branches established in Silicon Valley, Boston, Marlborough, Beijing, and Wuxi. ETP entered the Chinese market in 2017, focusing on early-stage investments in the biomedicine sector. Its mission is to facilitate the localization of advanced global life science achievements and biomedical technologies in China, thereby driving the development of China’s healthcare industry. With exceptional forward-looking vision and the capability to translate global technologies for the Chinese market, ETP leverages extensive resources from leading U.S. hospitals and renowned universities. It has successfully incubated and nurtured unicorn companies from inception to maturity, building a robust ETP biological ecosystem. To date, ETP has invested in and founded over 100 companies in biotechnology, biopharmaceuticals, and health management, including several unicorns and more than 20 publicly listed companies.

Zero2IPO Capital is one of China’s leading new-generation boutique investment banks, dedicated to serving innovative enterprises with high growth potential in the new economy. It has successfully assisted companies and institutional investors in completing nearly 300 private equity financing, mergers and acquisitions, IPOs, PIPE transactions, and privatizations, covering all stages of corporate development. Committed to providing professional and efficient financing solutions for founders and entrepreneurs, Zero2IPO Capital helps entrepreneurs and investors achieve greater business success. The firm focuses on key sectors including the Internet, mass consumption, healthcare, advanced manufacturing, artificial intelligence, and enterprise services. Within healthcare, its team specifically targets opportunities in sub-sectors such as IVD and medical devices, innovative drugs and advanced therapies, innovative medical services, and digital health.