Hochuen Medical Secures Tens of Millions in Series A Funding Led by Qiming Venture Partners to Expand Global CDMO Capabilities

Recently, Shenzhen Hochuen Medical Technology Co., Ltd. (“Hochuen”) completed a Series A financing round worth tens of millions of yuan, with Qiming Venture Partners as the sole investor. The proceeds from this round will be used to accelerate the expansion of Hochuen’s CDMO business in both international and domestic markets, as well as to support the development of new technologies and manufacturing processes, and to expand production capacity.

Hochuen is dedicated to providing customers with CDMO manufacturing services for microfluidic chips and biomedical consumables. Its product portfolio includes microfluidic biochips, disposable in vitro diagnostic (IVD) consumables, point-of-care testing (POCT) kits, life science research consumables, gene sequencing chips, animal and plant disease detection cards, and food safety testing chips. As a National High-Tech Enterprise, Hochuen holds ISO 13485 medical device quality management system certification and is registered with the U.S. FDA.

Hochuen was founded in Shenzhen in 2015 by Dr. Liu Hui, a seasoned entrepreneur with overseas experience in the IVD medical industry and microfluidic chip sector, and Zeng Lijiang, a veteran entrepreneur in the electronics industry. The company’s founding and management team possess an average of over 20 years of corporate management experience in the manufacturing of microfluidic devices, medical products, and electronic products. Additionally, Hochuen has established an advisory board comprising top international authorities in microfluidics, including Professor David Beebe and Professor Abe Lee. The company has set up four production and R&D bases in Shenzhen and Dongguan, China, and Malaysia, featuring nearly tens of thousands of square meters of factory space (including cleanrooms of various classifications and GMP workshops), and has established sales centers in the United States and Singapore.

In the 1990s, researchers abroad investigated the applications of MEMS in biology, chemistry, and biomedicine. These applications required precise control of fluid movement within microchannels. Extensive research was conducted to develop Lab-on-a-Chip systems, aiming to integrate nearly all processes necessary for complete biological, chemical, and biomedical reactions onto a single microfluidic chip. Thus, Lab-on-a-Chip technology emerged, with microfluidics gaining recognition and development as its core technology.

Microfluidic chips consist of microchannels etched or molded into materials (such as plastic polymers), where the microchannels form the chip and are integrated with required functionalities (mixing, pumping/valving, sorting, or controlling the biochemical environment). In in vitro diagnostic applications, the chip serves as a carrier for the detection environment and is used in conjunction with testing equipment. This interface between the macroscopic and microscopic worlds enables the realization of advanced technologies such as point-of-care diagnostics.

However, microfluidics technology in China started relatively late, and many advanced technologies remain immature. Since its inception, Hochuen has been dedicated to the continuous exploration and R&D of microfluidic processes. Today, the company is equipped with ultra-precision injection molding machines and high-precision CNC mold processing equipment from top international brands. Coupled with its independently developed ultra-precision laser cutting, high-precision die-cutting, and chip bonding processes, as well as self-developed manufacturing capabilities for dry and wet reagents and chip assembly, Hochuen has made the industrialization of microfluidic technology possible. Hochuen now provides “one-stop” services to IVD brand clients, and its quality and service have consistently earned acclaim from customers both domestically and internationally.

Hochuen “One-Stop” R&D and Manufacturing Services

Hochuen’s core team comprises returnee talents with work experience at Fortune 500 companies. Dr. Liu Hui, Co-founder and President of Hochuen, brings over 20 years of experience in the U.S. IVD and microfluidics industries. He has previously held positions at Motorola, CombiMatrix, GenMark, and Beckman Coulter/Danaher, among others, accumulating extensive R&D and production management expertise in molecular diagnostics, immunoassays, hematology analyzers, and urinalysis instruments. His research findings have been published in prestigious international academic journals such as Nature and PNAS. Zeng Lijiang, Co-founder, Chairman, and CEO of Hochuen, possesses nearly 20 years of OEM production and management experience in electronic products for companies including Apple, Google, and Samsung.

Amid the COVID-19 pandemic, IVD companies have played a pivotal role, particularly in rapid molecular diagnostics and home-based POCT disease testing, driving exponential growth in demand for microfluidic chip technology. Leveraging the technical expertise of its core team and deep insights into the in vitro diagnostics market, Hochuen assists brand enterprises in introducing and mass-producing new products across various application scenarios in IVD. With years of accumulation in the microfluidic CDMO industry, Hochuen is currently engaged in the R&D and manufacturing of microfluidic chips for nearly 200 companies, including top-tier global IVD firms, DNA microarray providers, and gene sequencing companies.

Regarding this round of financing and Hochuen’s future plans, Dr. Liu Hui stated, “We are deeply grateful for the support from Qiming Venture Partners. The COVID-19 pandemic has accelerated the adoption and demand for POCT molecular diagnostics and at-home disease testing, with microfluidics serving as an essential technology to enable these applications. In the coming years, the IVD diagnostics industry will undergo significant transformation, with many disease tests shifting from laboratories or hospital clinical departments to individual homes, akin to the evolution of blood glucose monitoring. The proceeds from this financing round will be used to expand Hochuen’s production capacity to meet global market demand and adapt to industry shifts.”

Zeng Lijiang stated, “By partnering with institutional investors, Hochuen will accelerate its global expansion, better serve customers worldwide, and contribute greater value to the development of the IVD industry.”

Mr. Hu Xubo, Managing Partner at Qiming Venture Partners, stated, “We have known the founding team of Hochuen for many years and have been waiting for the right opportunity to support each other and achieve mutual growth. Currently, there is a particularly strong global need for better diagnostic technologies and products. Hochuen focuses on the development and application of microfluidic chip and platform technologies. We are delighted to support Hochuen in collaborating with innovative diagnostic technology companies both domestically and internationally to jointly develop and produce more precise and effective clinical diagnostic products.”

Shenzhen Hochuen Medical Technology Co., Ltd. is headquartered in the Longhua District of Shenzhen, with branch offices and manufacturing bases established in Los Angeles, Singapore, and Malaysia. As a national high-tech enterprise, the company specializes in in vitro diagnostics (IVD), with a particular focus on point-of-care testing (POCT), microfluidic devices, and OEM manufacturing of non-standard consumables.Backed by an experienced engineering team, diverse testing equipment, and Class 10,000 cleanroom production workshops, Hochuen possesses comprehensive capabilities in precision die-cutting, lamination, injection molding, screen printing, machining, laser cutting, laser welding, ultrasonic welding, molecular bonding, UV curing, reagent/blister packaging, FPC assembly, device integration, and final product packaging. The company serves global clients with prototyping, small-batch pilot production, and large-scale manufacturing services.Hochuen Medical has achieved ISO 13485 quality management system certification and CNAS laboratory accreditation, and is an FDA-registered supplier. Committed to excellence in microfluidic technology, the company strives to deliver premium services to customers worldwide.

Qiming Venture Partners was established in 2006 and has successively set up offices in Shanghai, Beijing, Suzhou, Hong Kong, Seattle, Boston, and the San Francisco Bay Area. Currently, Qiming Venture Partners manages nine US dollar funds and six RMB funds, with total assets under management reaching $5.9 billion. Since its inception, the firm has focused on investing in outstanding early-stage and growth-stage companies in sectors such as TMT and Healthcare. To date, Qiming Venture Partners has invested in more than 380 high-growth innovative enterprises, among which over 130 have achieved exits through listings on major exchanges—including the New York Stock Exchange (NYSE), NASDAQ, Hong Kong Stock Exchange (HKEX), Taipei Exchange (TPEx), Shanghai Stock Exchange (SSE), and Shenzhen Stock Exchange (SZSE)—as well as through mergers and acquisitions. More than 40 of these portfolio companies have become industry-recognized unicorns and super unicorns.