Shanghai Reign Biotech Completes Series A Financing Led by Matrix Partners China to Advance as a Clinical Mass Spectrometry Leader

VCBeat (WeChat ID: vcbeat) has learned that Shanghai Reigncom Biotechnology Co., Ltd. (Shanghai Reigncom Biotech) recently announced the completion of its Series A financing round, amounting to hundreds of millions of RMB.This round of financing was led by Matrix Partners China, with follow-on investment from Innovation Works. Angel investor Watson Capital continued to increase its stake, while Gelu Capital served as the exclusive financial advisor.This financing round will enable Shanghai Reigncom Biotechnology Co.,Ltd. to continue increasing its investments in talent, clinical mass spectrometry R&D, and marketing, further solidifying its position as a leader in China’s clinical mass spectrometry sector.

Shanghai Reigncom Biotechnology Co., Ltd. is a high-tech enterprise specializing in the research and development, production, sales, and related technical services of medical diagnostic equipment and in vitro diagnostic (IVD) reagents. The company boasts standardized, large-scale, state-of-the-art production facilities and R&D laboratories, with R&D centers established in Shanghai, China, and Silicon Valley, USA. Its R&D, production, and management teams are led by Chinese and foreign Ph.D. holders. The company has implemented a high-standard quality assurance system and obtained TÜV SÜD ISO 13485 certification. Its IVD technology platform has gained recognition from renowned medical institutions and enterprises both domestically and internationally, establishing strategic partnerships with them.

Li Weiqi, Chairman and Founder of Shanghai Reigncom Biotechnology Co., Ltd., has over 30 years of experience in the in vitro diagnostics (IVD) industry and is among China’s first generation of successful IVD entrepreneurs.Enjoys high industry prestige and extensive professional resources.Dr. Xie Xiaolei, Chief Scientist, has 18 years of experience in R&D, applications, and market development for mass spectrometry, and is an internationally recognized leader in the field of clinical mass spectrometry., responsible for leading the R&D and application teams in Shanghai, China, and Silicon Valley, USA. Shanghai Reigncom Biotechnology Co.,Ltd. also boasts a professional, standardized, and efficient product registration team, as well as sales channels covering all of China.

Due to its higher sensitivity and specificity, mass spectrometry is replacing certain biochemical and immunoassay tests in routine clinical laboratory practice. It is playing an increasingly important role in areas such as newborn screening, vitamin testing, endocrine hormone analysis, therapeutic drug monitoring, nutrient assessment, and the detection of protein and peptide disease biomarkers. Clinical mass spectrometry testing has been widely adopted in developed countries in Europe and the United States. Statistics show that there are already more than 400 mass spectrometry-based tests serving clinical diagnosis and treatment. The U.S. clinical mass spectrometry market is valued at approximately $9 billion, accounting for about 15% of the total medical testing market. Foreign instrument manufacturers hold over 90% of the global market share.In contrast, China’s clinical mass spectrometry industry lags significantly behind developed nations in both technology and application. Clinical mass spectrometry instruments in China are predominantly imported, with domestic brands still in the early stages of development, indicating substantial potential for import substitution. The number of clinically available mass spectrometry tests in China remains very limited, mostly confined to newborn screening and vitamin testing. According to statistics, the current market size for clinical mass spectrometry in China is approximately RMB 2 billion, with the potential market estimated at RMB 30 billion. For instance, the highly anticipated hormone testing segment alone is expected to reach tens of billions of yuan. Over the next five years, the annual growth rate of the clinical mass spectrometry market is projected to exceed 40%. Furthermore, as a platform technology, mass spectrometry can also facilitate the discovery of entirely new diagnostic biomarkers. With vast untapped market potential, it is poised to become the next trillion-yuan blue-ocean market in the field of clinical diagnostics.

Shanghai Reigncom Biotechnology Co.,Ltd. focuses on independent research and development; it currently not only possesses nearly 100 Class II/III biochemical assay kits but has also established a globally leading R&D team for mass spectrometry reagents,Successfully obtained approval for the highest number of Class II test kits in China, totaling six items (three of which are exclusive products), with multiple globally exclusive Class II/III test kits currently under registration.Meanwhile, through collaboration with Thermo Fisher Scientific (Thermo Fisher),Successfully developed and registered the RZ-500 Ultra-High Performance Liquid Chromatography-Tandem Mass Spectrometry (UHPLC-MS/MS) Detection System.The RZ-500 employs internationally leading mass spectrometry technology, with sensitivity, resolution, and scanning speed all surpassing those of similar clinical products. It covers a comprehensive range of testing items from basic to advanced levels, enabling import substitution and offering substantial market potential.

Shanghai Reigncom Biotechnology Co., Ltd. focuses on addressing the pain points in clinical mass spectrometry applications, striving to build and provide a comprehensive clinical mass spectrometry solution that covers the entire business workflow, including sample pretreatment, instruments, reagents, software, and services.Its independently developed automated mass spectrometry sample preparation system, AUTOMAN, can directly configure instrument parameters for specific test kits, perfectly accommodating the sample preparation requirements of different kits. Meanwhile, it leverages the instrument’s performance to guide the development of test kits that best meet clinical needs, thereby establishing a highly compatible product ecosystem.

As a comprehensive provider of clinical mass spectrometry IVD solutions in China, Shanghai Reigncom Biotechnology Co., Ltd. is poised to drive the widespread adoption and rapid development of mass spectrometry technology in clinical precision diagnostics across the country. Leveraging its integrated solutions and robust manufacturing capabilities, along with its established domestic distribution channels and international collaboration with Thermo Fisher Scientific, the company aims to serve the global market and emerge as the leading brand in clinical mass spectrometry IVD.

Mr. Li Weiqi, Founder and Chairman of Shanghai Reigncom Biotechnology Co., Ltd., stated:“We are delighted to join hands with both new and existing investors to advance the development of clinical mass spectrometry-based precision diagnostic technologies in China. The company will continue to focus on addressing market demands for clinical mass spectrometry, designing, developing, and refining its comprehensive product solutions to better serve precision diagnosis and treatment.”Dr. Xie Xiaolei, Chief Scientist at Shanghai Reigncom Biotechnology Co., Ltd. and Executive President of Shanghai Ruizhi Technology, stated:“We appreciate the trust and support of our investors. This round of financing will accelerate the development of new clinical mass spectrometry products, promoting the standardization, automation, and intelligence of mass spectrometry technology in clinical applications.”

Dr. Yu Zhiyun, Partner at Matrix Partners China, stated“Physics-based mass spectrometry technology has filled many gaps in China’s clinical diagnostics market. Led by Chairman Li Weiqi and Dr. Xie Xiaolei, the Reigncom team has devoted years to intensive research and development. Today, its instruments and reagents are at the forefront of regulatory approvals in the market. As pioneers in China’s in vitro diagnostics sector, they bring extensive experience in marketing and sales. It is believed that patients across China will greatly benefit from these advances.”

Dr. Shi Chengxi, Investment Director at Innovation Works“It was stated that mass spectrometry is one of the most promising fields in precision medicine, offering high sensitivity, high specificity, and diverse detection capabilities in clinical testing. Furthermore, compared with other methodologies, mass spectrometry can be applied to multi-omics testing and, when combined with data analysis, enables the development of new application scenarios. Shanghai Reigncom Biotechnology Co., Ltd. is a leading enterprise in the field of mass spectrometry, having established a comprehensive solution portfolio that includes test kits, mass spectrometers, sample preparation equipment, and software systems. The company has achieved rapid progress in product development and registration, boasting the largest portfolio of Class II mass spectrometry test kits in China. Mr. Li Weiqi, the founder, is one of the pioneers of China’s in vitro diagnostics (IVD) industry, while Dr. Xie Xiaolei, the Chief Scientist, is a leading expert in the international field of clinical mass spectrometry. Innovation Works recognizes the company’s potential and is committed to providing long-term support to help Shanghai Reigncom become an industry benchmark, driving sector development through product innovation and delivering valuable precision medicine diagnostic and therapeutic solutions for Chinese patients.”

Ms. Cao Zheng, Managing Partner at Watson CapitalHe stated, “In the context of the rapid development of precision medicine, mass spectrometry (MS) testing technology, with its advantages of high sensitivity, specificity, accuracy, high throughput, and low cost, is poised to upgrade and replace traditional methodologies across multiple fields, including biochemistry, immunology, microbiology, and molecular diagnostics. As a leading domestic provider of clinical mass spectrometry solutions, Shanghai Reigncom Biotechnology Co., Ltd. has assembled numerous experts in the field of mass spectrometry from both China and abroad, and has established a diverse product portfolio with differentiated competitive advantages. Watson Capital was honored to serve as the company’s angel investor and has continued to increase its investment. We have witnessed the company’s intensified R&D efforts and the introduction of its mass spectrometry product lines. Throughout our many years of pleasant collaboration, we have highly appreciated the founder’s exceptional insights into the in vitro diagnostics (IVD) market and the management team’s outstanding execution capabilities. Following this round of financing, we believe that Shanghai Reigncom will continue to adhere to its high-quality product strategy and deliver valuable local innovations amid the booming industry prospects. We are confident that, through the joint efforts of Mr. Li Weiqi and his team, the company will achieve substantial growth and benefit clinical practice.”

Matrix Partners China, established in 2008, is a leading venture capital firm in China. Over the past decade since its inception, it has remained deeply rooted in the local market, steadfastly investing in Chinese entrepreneurs. Matrix Partners China has invested in more than 700 companies to date. Notable portfolio companies include Didi Chuxing, XPeng Motors, Li Auto, Futu Securities, Chehaoduo Group, Youzan, Ronbay Technology, XGIMI, Momo, Ele.me, Peijia Medical, Kymab Diagnostics, Genor Biopharma, Career International, LexinFintech, So-Young, Yuanfudao, PingCAP, Zihai Guo, Jian Ai, iSpace, Taimei Medical Technology, and Drug Research Club.

Innovation Works is a venture capital firm founded by Dr. Kai-Fu Lee in 2009, dedicated to helping Chinese entrepreneurs build world-class companies through comprehensive startup services. Headquartered in Beijing, it has branch offices in Guangzhou, Shanghai, Nanjing, and Shenzhen. Over the years, leveraging its specialized, technology-driven, and international characteristics and advantages, Innovation Works has become one of the most influential tech-focused venture capital firms in China. The firm primarily focuses on six key sectors: artificial intelligence and frontier technologies, healthcare, automation, B2B enterprise services, consumer goods, and education, having invested in more than 400 high-growth, high-potential companies.

Watson Capital, established in 2016, is a specialized fund focused on investment opportunities in the biopharmaceutical sector. With a technology-driven approach, it is fully committed to helping top-tier scientists and entrepreneurs achieve success. The firm has invested in numerous star companies in both China and the United States, possessing deep expertise in technologies such as gene editing and multi-omics. It has strategically positioned itself in areas including innovative drugs and therapies, as well as diagnostic testing, by backing companies founded by internationally renowned scientists and serial entrepreneurs. These portfolio companies include Xunbaihui Biotechnology, Purui Benchmark, Lanyu Biotechnology, Zhihe Biotechnology, Ruilang Tech, and Tuoxin Tiancheng, among others. Watson Capital’s cornerstone investors include several powerful publicly listed pharmaceutical companies, all of which are domestic leaders in their respective niche markets.