IntelliGene Biosystems Secures Over RMB 100 Million Strategic Financing Led by Jinhe Capital

VCBeat (WeChat ID: vcbeat) has learned that on August 28, 2019, the strategic investment signing ceremony among Kinghall Ventures, Cathay Capital, Jinyuan Fund, and Intelligene Biosystems was successfully held in Beijing, marking the completion of Intelligene Biosystems’ strategic financing round exceeding RMB 100 million. Led by Kinghall Ventures, with co-investment from Cathay Capital and Jinyuan Fund, the funds will be primarily used to expand Intelligene Biosystems’ product portfolio, further strengthen its technological moat, broaden market channels, and accelerate CFDA registration and approval. Life Capital served as the financial advisor for this financing round.

Hao Bixi, Senior Vice President, Chief Financial Officer, and Board Secretary of KingMed Diagnostics; Wang Zhifei, Executive Director of Kinghall Ventures; Li Jia, Vice President of Investment at Kinghall Ventures; Liu Shaolin, Managing Director of Cathay Innovation; Lu Jiamin, Vice President of Cathay Innovation; Li Kejia, Investment Manager at Cathay Innovation; Wang Jingtian, Partner Lawyer at Dentons Law Firm; Zhou Xiaoguang, Chairman of Intelligene Biosystems; General Manager Li Yuntao; and the senior management team jointly witnessed the signing ceremony.

Intelligene Biosystems, led by academicians from the Chinese Academy of Sciences and the Chinese Academy of Engineering and founded by senior mass spectrometry R&D experts, is a national high-tech enterprise dedicated to the R&D, manufacturing, sales, and service of life science analytical instruments, consumables, and solutions, with a registered capital of RMB 50 million. The company has established sub-centers for R&D, production, application development, sales, and services in Boston (USA), Beijing, Qingdao, Nanjing, and Hangzhou. It hosts an Academician Workstation, has set up joint laboratories with multiple research institutions such as China Agricultural University and the Chinese Academy of Sciences, and has undertaken numerous national and local technological innovation and R&D projects.

As a research-driven high-tech enterprise with independent intellectual property rights, the company has cumulatively invested over RMB 50 million in R&D since its establishment. It currently operates two major technology platforms: “Broad-Spectrum Quantitative Time-of-Flight Mass Spectrometry (Next-Generation Matrix-Assisted Laser Desorption/Ionization Time-of-Flight Mass Spectrometry)” and “Microfluidic Chip-Based Rapid Nucleic Acid Analysis.” The “Broad-Spectrum Quantitative Time-of-Flight Mass Spectrometry Platform” was appraised by an evaluation committee composed of academicians from the Chinese Academy of Sciences and the Chinese Academy of Engineering as having “overall performance reaching an internationally advanced level.”

Leveraging its two core technology platforms, Intelligene Biosystems has developed a series of products, including the Rapid Microbial Identification Mass Spectrometry System, Nucleic Acid Mass Spectrometry System, Quantitative Glycated Hemoglobin Mass Spectrometry System, Mass Spectrometry Imaging System, Food Traceability Mass Spectrometry System, Rapid Detection System for Foodborne Pathogens, Respiratory Pathogen Detection System, Avian Influenza Virus Detection System, and Genetically Modified Organism (GMO) Testing System. These applications span clinical healthcare, inspection and quarantine, food safety, and disease control and prevention. The company has obtained 15 Class I Medical Device Filing Certificates, 1 Class II Medical Device Registration Certificate, 1 Medical Device Production License, and 2 Class I Medical Device Production Filing Certificates from the China Food and Drug Administration (CFDA).

"Rooted in China with a global perspective, Intelligene Biosystems aims to become a biotechnology enterprise with international competitiveness. The company is committed to advancing the domestic production of high-end life science instruments and contributing to the improvement of healthcare standards for the Chinese population."

Wang Zhifei, Executive Director of Kinghall Ventures (far right), and Liu Shaolin, Managing Director of Cathay Capital (far left), sign the agreement with Zhou Xiaoguang, Chairman of Intelligene Biosystems, and General Manager Li Yuntao.

Chairman Zhou Xiaoguang presented the Director Appointment Letter to Mr. Wang Zhifei (top left), the Supervisor Appointment Letter to Mr. Liu Shaolin (top right), and the Supervisor Appointment Letter to Mr. Wang Jingtian.

Hao Bixi, Director and Senior Vice President of KingMed Diagnostics (left), and Liu Shaolin, Managing Director of Cathay Capital, delivered remarks respectively.

Forging Ahead, Winning Together through Cooperation: The strategic partnership reached among Kinghall Ventures, Cathay Capital, and Jinyuan Fund with Intelligene Biosystems will play a positive role in boosting the development of Intelligene Biosystems. Empowered by Kinghall Ventures, Cathay Capital, and Jinyuan Fund, Intelligene Biosystems will remain committed to contributing to the localization of high-end life science instruments and the improvement of healthcare standards for the Chinese people.

Group Photo

Introduction to Kinghall Ventures

Kinghall Ventures (a fund affiliated with KingMed Diagnostics) is an investment institution focused on the healthcare sector. The fund manager possesses over 20 years of experience in the medical industry and has successfully established China’s largest third-party clinical laboratory. The investment team brings extensive expertise in healthcare investments, and the inaugural fund has secured capital from a renowned domestic fund of funds. Kinghall Ventures will make strategic in-depth investments in in vitro diagnostics (IVD) to build an industrial ecosystem, committed to leveraging the synergy between industry and capital to cultivate enterprises with international competitiveness.

Introduction to Kinghall Ventures

Kinghall Fund is an industry-focused fund managed by Chende Capital, specializing in investments in the in vitro diagnostics (IVD) sector. Established in November 2015, it has raised a total of RMB 500 million.

Chende Capital is an investment firm focused on the life sciences and medical technology sectors, managing multiple USD and RMB funds with a total asset under management exceeding RMB 4 billion. Managed and operated by a professional team with extensive experience in the healthcare industry, Chende Capital has completed investments in over 40 projects and achieved successful exits from multiple portfolios.

Leveraging extensive industry resources across the global and Chinese healthcare sectors, along with years of deep engagement, Chende Capital is positioned to promptly identify emerging international technological trends and seize investment opportunities in China, thereby shaping the future trajectory of the Chinese healthcare market. Chende Capital is committed to cultivating premier enterprises within the healthcare sector and delivering optimal returns for its investors.

Introduction to Cathay Capital

Cathay Capital Private Equity Fund (Cathay Capital, hereinafter referred to as “Cathay”) is a leading international private equity firm specializing in cross-border investments. Founded in 2006 by Mingpo Cai and Edouard Moinet, Cathay is dedicated to supporting the growth and international expansion of innovative companies, small and medium-sized enterprises (SMEs), and mid-cap companies from China, Europe, North America, and Africa. As a fund established by entrepreneurs for entrepreneurs, Cathay boasts a multicultural and experienced investment team that creates long-term value for businesses across three continents through its unique business model and value-added strategies.

Cathay Capital currently manages ten funds, categorized into three major series: the Cathay SME Fund, the Cathay Buyout Fund, and the Cathay Innovation Fund. The total assets under management (AUM) reach €3 billion, with investments in over 110 companies across three continents. Key investment sectors include consumer goods, TMT, healthcare, automotive and mobility, and advanced manufacturing. The firm has invested in dozens of high-quality enterprises such as Suofeiya, Zbom Home Collection, Meinian Onehealth Healthcare, Moncler, Botian Environment, AiHuiShou, and Jingrui Education, as well as star start-ups including Momenta, Pinduoduo, Drivy, Glovo, Mingtang, UShopal, and Trifacta. Cathay Capital maintains offices in Paris, Shanghai, Beijing, New York, San Francisco, Munich, and Tel Aviv, with a global team of nearly 80 investment professionals dedicated to serving its investors and portfolio companies.