BaiKangXin Completes Nearly RMB 70 Million Series B Financing Led by Sinopharm Capital, Qiangyun Capital Acts as Exclusive Financial Advisor

On August 9, 2019, Beijing Baicare Biotechnology Co., Ltd. (“Baicare”) announced the completion of its Series B financing round, raising nearly RMB 70 million. The round was led by Sinopharm Capital Management Limited Company, with existing shareholders also participating in the follow-on investment. To date, Baicare has secured over RMB 100 million in cumulative investments from renowned healthcare funds. Qiangyun Capital once again served as the exclusive financial advisor for this financing round.

Beijing Baicare Biotechnology Co., Ltd., established in 2013, is dedicated to the research and development, production, and sales of automated nucleic acid testing systems. The company’s headquarters is located in Changping, Beijing, while its manufacturing subsidiary is situated in Wuqing, Tianjin. Leveraging microfluidic chip platform technology, Baicare focuses on developing rapid nucleic acid testing products for pathogenic microorganisms associated with acute and critical conditions in respiratory, gastrointestinal, blood, and urinary systems. The company has developed multiple product platforms and a series of nucleic acid testing kits, including a seven-pathogen panel for respiratory tract infections. Its products offer advantages such as multi-parameter detection, multi-sample processing, rapid one-hour turnaround time, high sensitivity, and automation, effectively meeting the clinical demand for testing in acute and critical infectious cases.

Baicare Nucleic Acid Testing Product Line

Sinopharm Capital Management Limited Company, established in 2012 and jointly initiated by China National Pharmaceutical Group (Sinopharm) and the Sinopharm Capital management team, is a professional equity investment institution focused on the healthcare and wellness sector. With profound insights into industry development, industrial operations, and capital management, it effectively integrates industry resources and capital strength.

Zhang Guohao, Chairman of Beijing Baicare Biotechnology Co., Ltd., stated: “Sinopharm Capital possesses extensive industry resources in areas such as medical expertise and hospital endpoints. This collaboration with Baicare will accelerate the company’s R&D and market expansion efforts. Baicare will uphold a work ethos of diligent striving and a global perspective, bringing together top talent from all sectors to fully unleash the energy of its strivers and comprehensively meet customer needs.”

Shi Shenghao, Managing Director of Sinopharm Capital, stated, “The field of microfluidic nucleic acid testing holds promising development prospects. We are optimistic about Baicare’s technological R&D capabilities and product advantages. Leveraging Sinopharm Capital’s industrialization experience and resource strengths, we will accelerate the product promotion and R&D efforts of Beijing Baicare Biotechnology Co., Ltd., thereby benefiting patients and the industry.”Liu Xiao, Head of Financing at Qiangyun Capital, the exclusive financial advisor for this round of financing, remarked, “The global market size for nucleic acid testing reaches tens of billions of US dollars, and the upgrade of automated equipment represents a systemic opportunity in this sector. In international markets, sales of automated nucleic acid equipment are growing rapidly; small R&D enterprises in this field frequently secure substantial financing or are acquired by larger corporations, making it a hotspot in the capital market. In China, however, due to high technical barriers, there are few startups, and the market is still in its early stages of development. After several years of effort, Baicare has gained a first-mover advantage. We are highly optimistic about its potential to become a leading enterprise in China’s automated nucleic acid equipment sector.”