Tianshen Medical Secures RMB 80 Million Series B Financing to Accelerate Growth in Chemiluminescent POCT Market

VCBeat (WeChat: vcbeat) has learned that Shenzhen Tisenc Medical Devices Co., Ltd. (“Tisenc Medical”), a leading Chinese point-of-care testing (POCT) chemiluminescence platform, recently announced the completion of its RMB 80 million Series B financing round. The round was led by Feifan Shulian and TF Capital, with Qiming Venture Partners participating as a follow-on investor.

Previously, Tisenc Medical had cumulatively secured over RMB 52 million in investment. Its angel round was led by Hangzhou Yanmucao, which invested a ten-million-yuan-level amount, while its Series A round saw an exclusive investment of RMB 40 million from Qiming Venture Partners.

Following this round of financing, Tisenc Medical will comprehensively advance its R&D efforts, scale up production and implement quality control for its single-test chemiluminescence product series, and promote the construction, enhancement, and refinement of its global marketing system. By elevating the company’s capabilities across all segments—including R&D, manufacturing, and marketing—Tisenc Medical aims to become a leading enterprise in China’s IVD market within three to five years, representing the advanced technological development direction of POCT.

The global in vitro diagnostics (IVD) market has seen steady growth, reaching a size of USD 78 billion by 2018, with point-of-care testing (POCT) accounting for 29% of the total. In China, the IVD market was valued at RMB 54.7 billion, with POCT representing 11% of the share. Data indicates that the traditional immunoassay-based POCT segment accounted for RMB 5 billion.

The emerging POCT market (including AMH, vitamins, thyroid function, hormones, etc.) will exceed RMB 10 billion, with the overall immune POCT industry achieving an average annual growth rate of over 25%. The strong overall growth of the POCT industry will become a significant trend and driving force for the golden period of China's IVD industry in the next 5-10 years. While the POCT market demonstrates robust growth momentum, chemiluminescence, which currently holds the largest market share in China's IVD sector, continues to maintain stable and rapid annual growth of over 15%.

Currently, imported brands still account for nearly 80% of the overall chemiluminescence market in China, with the market concentrated in tertiary hospitals and secondary-level-or-above hospitals. As the national trend toward domestic substitution of medical devices becomes increasingly clear, and as the development of primary healthcare—emphasized in the “Healthy China 2030” Outline—continues to advance, the product philosophy championed and represented by Tisenc Medical, namely domestically produced, high-quality, and miniaturized chemiluminescence POCT products, aligns well with market trends and the industry’s development direction. This positions Tisenc Medical as a representative force driving sustained growth in China’s IVD industry.

“Tisenc Medical has successfully completed its Series B financing, continuing to secure support from renowned investment institutions and investors. This underscores the capital market’s strong recognition of the high-quality diagnostic products and services sector,” said Yao Tiancheng, Founder and Chairman of Tisenc Medical. “With the gradual implementation of the tiered diagnosis and treatment policy and the diversification of application scenarios, demand for point-of-care testing (POCT) diagnostic products in primary healthcare institutions is growing rapidly. To meet the clinical and laboratory requirements for product quality, stability, and efficacy, we will continuously iterate our products and diagnostic platforms.”

Tisenc Medical, founded in Shenzhen in 2015, specializes in the R&D, manufacturing, and global sales of single-test fully automated chemiluminescence analyzers and more than 100 supporting in vitro diagnostic reagents. Tisenc Medical operates independent centers for instrument R&D, reagent R&D, instrument manufacturing, and reagent production.

Tisenc Medical’s single-use, fully automated chemiluminescence immunoassay products combine the operational flexibility of compact POCT devices with the quality standards of chemiluminescence detection systems. This innovative integration meets the rigid global demand for high-quality POCT solutions across healthcare institutions of all levels, offering significant market growth potential over the coming decades. Leveraging industry-leading R&D capabilities, a comprehensive standardized production management system, precise market positioning, and a people-oriented management philosophy, Tisenc Medical is committed to becoming the leading enterprise in the chemiluminescence platform segment of the POCT market.

Tisenc Medical has always adhered to the core values of “talent shapes the future, quality builds the brand,” and after years of dedicated R&D, successfully developed the ACCRE series of single-test fully automated chemiluminescence immunoassay systems. In 2018, Tisenc Medical successfully obtained ISO 13485 quality management system certification. By the end of 2019, more than 30 products had received EU CE certification, and 14 products had obtained China NMPA registration certificates. The product portfolio covers multiple fields, including cardiac markers, inflammation testing, anemia, bone metabolism, sex hormones, and thyroid function.

Dr. Li Ming, Managing Partner at TF Capital, stated: "In vitro diagnostic (IVD) products have extensive clinical applications. In particular, the demand for IVD reagents across different regions, hospital tiers, and departments in China exhibits distinct characteristics. The POCT chemiluminescence platform and supporting diagnostic reagents developed by Tisenc Medical hold significant market potential and competitiveness within their niche segments. We believe that Tisenc Medical, by anchoring its strategy in product excellence and progressively deepening its market penetration, will be able to meet the needs of diverse end-user medical customers in China, thereby achieving rapid and sustained growth."

Tisenc Medical, founded in Shenzhen in 2015, specializes in the R&D, manufacturing, and global sales of single-test fully automated chemiluminescence immunoassay analyzers and more than 100 supporting in vitro diagnostic reagents. Leveraging industry-leading R&D capabilities, a comprehensive standardized production management system, precise market positioning, and a people-oriented management philosophy, the company is committed to becoming a leading enterprise in the chemiluminescence platform segment of the POCT market.

Feifan Shulian is an impact investment fund focused on early-stage investments, dedicated to supporting young entrepreneurs with dreams, capabilities, and strong values, thereby achieving a balanced creation of social and commercial value for enterprises. The management team comprises partners from top-tier domestic funds and successful entrepreneurs, focusing on high-tech, biopharmaceuticals, and new consumption sectors, with the aim of connecting with and accompanying more entrepreneurs in achieving self-breakthroughs and rapid growth.

Qiming Venture Partners, established in 2006, focuses on investing in outstanding early-stage and growth-stage companies in sectors such as TMT and Healthcare. Currently, Qiming Venture Partners manages seven U.S. dollar funds and five RMB funds, with total assets under management exceeding USD 4 billion. The firm has invested in more than 320 companies, over 110 of which have achieved exits through listings on major global stock exchanges or mergers and acquisitions. Nearly 30 of its portfolio companies have become industry-recognized unicorns and super unicorns.

TF Capital is a healthcare investment firm focused on early-stage Chinese biopharmaceutical and biotechnology companies with high technological barriers. It has invested in approximately 50 startups, including Zai Lab, Hua Medicine, and Pharmaron, with several portfolio companies listed on NASDAQ and the Hong Kong Stock Exchange.