INNOVATION Biotech Targets Home and Primary Care Diagnostics with Over 200,000 Annual Tests for Diseases Including COVID-19 and Vaginitis
The Cycle of Consolidation and Fragmentation: A Law of Business EvolutionThe alternation between consolidation and fragmentation is a fundamental pattern in business evolution. This holds true for the healthcare sector as well. In recent years, with the advancement of modern healthcare, service delivery has begun to shift from centralized medical institutions toward decentralized household units and primary care settings. The market for personalized home health and primary care services has emerged as a new blue ocean for commercial investment.
The allure of blue-ocean entrepreneurship remains strong. How should products be developed? How can companies balance user experience with profitability? To address these questions, VCBeat conducted an exclusive interview with Liu Qin, founder of INNOVATION Biotechnology Co., Ltd. (hereinafter referred to as “INNOVATION”).
Yiruo Weisheng is an R&D and manufacturing enterprise specializing in the research, development, production, and sales of diagnostic reagents. Registered and established in Nanjing in 2013, the company primarily engages in the R&D, production, and sales of in vitro diagnostic (IVD) reagents and medical devices, as well as related technology transfers and technical services. Through independent innovation, Yiruo Weisheng has established technological platforms based on POCT colloidal gold, fluorescence, enzyme immunoassay, dry chemistry, and plate-based chemiluminescence. Its main products include test kits and reading instruments for early screening of gastric and renal diseases, cardiovascular diseases, and maternal and child health conditions. These offerings meet the demands across multiple disease detection fields and cater to diverse application settings, including hospitals at all levels, community clinics, health centers, and laboratories.
Currently, Yiruoweisheng has obtained the Business License for Operating In Vitro Diagnostic Reagents, the Class III Medical Device Manufacturing License, and multiple product patents and registration numbers. In 2018, it was awarded the “High-Tech Enterprise” certificate.
Jianqing App (including the mini-program) is an online diagnostic application developed by Yiruo Weisheng. It is compatible with a variety of diagnostic products, providing reliable diagnostic evidence for medical institutions and individuals. Specifically, the App comprises two systems: one for physicians and one for individual patients. It features functions such as medication management, medication guidance, home-based diagnosis and treatment, disease prevention, health information, and discussion forums. Currently, Jianqing can support the diagnosis of most common conditions at the primary care level, including gynecological, pediatric, chronic, and general diseases.
As a manufacturing enterprise, why did Yiruoweisheng develop a diagnostic software? This initiative stemmed from the launch of Yiruoweisheng’s seven-panel test kit for vaginitis, which enabled Liu Qin to identify pain points in the market. First, at the household level, there is significant demand for home-based diagnostics for private gynecological conditions, as patients often resist hospital visits due to psychological factors. However, from a usability perspective, self-testing products present certain operational barriers for individual users, who also struggle to interpret test results, leading to difficulties in personal use. Second, demand is also robust among primary healthcare institutions. Compared with large hospitals, these grassroots facilities face relative shortages in both diagnostic products and skilled medical personnel, creating a need for testing solutions that are simple and easy to operate.
“This represents a very significant opportunity for us. In fact, it was somewhat of a serendipitous coincidence. In the early stages of product development, we did not anticipate developing a software solution, as no other companies in the same sector had pursued this direction,” said Liu Qin.
The absence of competitors signifies both opportunity and challenge, and the R&D process was undoubtedly fraught with difficulties. For instance, early-stage products suffered from instability and exorbitant costs. In the case of self-testing products, excessively high prices would significantly hinder market acceptance. To address this, Liu Qin led her team to overcome formidable obstacles, continuously seeking the optimal balance between performance and cost. After multiple iterations over approximately four years, the product was finally launched to the market.
For every enterprise’s development path, it is essential to formulate a comprehensive corporate development strategy by integrating its own advantageous resources with the external market and policy environment. As an enterprise located in the Gaochun Economic Development Zone of Nanjing, Liu Qin acknowledged that Yiruoweisheng has received strong government support during its development, which laid the foundation for the successful research and development of the Jianqing APP.
“Jianqing App is currently the only app in China’s healthcare industry to have obtained a registration license. Leveraging our proprietary IVD + smart app model, it delivers test results within 20 minutes when used with compatible companion products, offering simple, convenient, timely, and accurate testing,” Liu Qin told VCBeat. Jianqing has already partnered with multiple manufacturers, and the number of tests conducted exceeded 200,000 in 2019.
Behind such outstanding achievements is Yiruoweisheng’s excellent team. The team currently comprises over 40 members, most of whom hold master’s degrees or higher, and possess extensive industry experience in research and development, production, sales, and management.
“In addition to products such as the novel coronavirus antibody test and the seven-panel vaginitis assay, our other products will be launched sequentially to continuously meet the diagnostic testing needs at the primary care level. Furthermore, all products in the Jianqing series are interpreted via a mobile app, requiring no instrumental assistance. They remain stable at room temperature and can help physicians deliver precise treatment, thereby enhancing the quality of diagnosis and care.”
Diagnosis and treatment are inherently complementary. In extending its business model, Yiruoweisheng has adopted a solution that involves partnering with major pharmaceutical companies to provide bundled product offerings. Liu Qin told VCBeat that precision medicine requires precise diagnosis as a prerequisite for targeted therapy. If patients do not undergo diagnostic testing for their conditions, or if misdiagnosis occurs, it is highly likely to lead to medication misuse. This not only harms patients’ health but also delays appropriate treatment. Based on this rationale, Yiruoweisheng has established collaborations with several large pharmaceutical companies.
Regarding the company’s future development, Yiruo Weisheng will continue to deepen its presence in the home testing and primary care testing markets, continuously iterate the Jianqing APP, and steadily expand and strengthen collaborations with major pharmaceutical companies.
When it comes to financing, Liu Qin stated that Yiruoweisheng is willing to engage in discussions with resource-oriented investment institutions or the strategic investment departments of major internet companies.