Monad Biotech Completes Series A Funding Round, Remaining Committed to Life Science Tools Innovation

VCBeat (WeChat: vcbeat) learned at the earliest opportunity that on February 8, 2021, Mona Biotechnology Co., Ltd. announced the completion of its Series A financing round, raising nearly RMB 200 million. The investment was co-led by Luxin Venture Capital and ABclonal, with Wuxi Capital Group participating as a follow-on investor. This funding will support the company’s continued investment in the research and development of life science research tools, expand its production and marketing teams, and further enhance its R&D and commercial operational capabilities.

Monna Bio’s predecessor, Wuhan Bailaizhen, traces its history back to 2009. As a comprehensive scientific service provider in the Hunan and Hubei regions, it has served as a key regional partner for several internationally renowned scientific service companies, including Danaher Life Sciences, Illumina, and Merck. In October 2017, the company completed an angel financing round of nearly RMB 100 million from Zhuhai Nanshan, marking its strategic entry into the independent research and development and manufacturing of life science tools. Over the past three years, it has established two high-standard R&D and production bases: a 4,000-square-meter instrument factory in Suzhou and a 6,000-square-meter reagent factory in Wuhan, with cumulative investments exceeding RMB 200 million. Remaining true to its original mission and rooted in the life sciences services industry, the company is committed to building a well-known brand in the life science tools sector. To date, Monna Bio has launched nearly 200 SKUs of proprietary products, which have been included in the procurement catalogs of many leading domestic IVD companies. Its products are sold across all provinces and municipalities in China, as well as to multiple countries in Europe, the United States, and Japan.

Following the completion of the Series A financing, Yan Dongping, the company’s actual controller, has committed to injecting additional proprietary funds into product R&D. Positioning itself as a product-driven enterprise, the company plans to allocate a budget exceeding RMB 100 million over the next two years. These funds will be primarily used to establish an overseas R&D center, expand the R&D team, accelerate new product development and iteration, and increase production capacity for best-selling products. Meanwhile, the company will strengthen synergy and technical collaboration with Abclonal, the strategic investor in this round, particularly in areas such as molecular enzymes and antigen-antibody products. Leveraging Abclonal’s comprehensive technology, R&D, and product platforms will accelerate Mona Bioscience’s progress toward automated and intelligent solutions integrating “instruments + reagents + consumables.” Additionally, the company will continue to optimize its existing distribution business, align with international brands, explore new business models, and participate in strategies for introducing international brands to the Chinese market, jointly providing comprehensive solutions for basic life science research, the biotechnology industry, IVD enterprises, government testing, and clinical diagnostics.

Luxin Venture Capital Group Co., Ltd. (SH.600783), controlled by Shandong Luxin Investment Holding Group Co., Ltd., is the largest professional venture capital firm in Shandong Province and one with significant influence nationwide. Its notable portfolio companies in the healthcare sector include 3D Medicines, RemeGen, Abclonal, Zhongke Xinshengming, Silicon-based Bionics, Boying Medical, Rigor Biotech, Weimai Medical, Shiling Technology, Dajian Bio, and TCR2 Therapeutics, among others.

Wuhan ABclonal Biotech Co., Ltd. is a life science tools solutions provider, leveraging its ABclonal Antibody and Protein R&D Center in Boston, USA, the antibody production base at China Optics Valley Biological City (Wuhan), and the Molecular Enzyme R&D Center in Shanghai. The company is dedicated to research in antibody and protein technologies, with a focus on building antibody and protein platforms. Its core business includes research antibodies, molecular enzyme products, NGS library preparation kits, active recombinant proteins, diagnostic antigen and antibody raw materials, ELISA kits, and CRO services. The CRO services primarily encompass antibody and protein technical services, gene and peptide synthesis services, and immunological assay services.

Wuxi Financial Investment Co., Ltd. is a municipal-level comprehensive financial investment platform established in November 2013 to respond to the “Financially Strong City” policy of the Wuxi Municipal Committee of the Communist Party of China and the Wuxi Municipal People’s Government. Adhering to market-oriented and specialized development, Wuxi Financial Investment has basically formed three major business segments: fund-of-funds management, equity investment, and operational subsidiaries. The company is committed to building a comprehensive, market-oriented, and international financial holding group based in Wuxi with influence across the Yangtze River Delta region.