Vigene Biosciences Secures Nearly RMB 100 Million in Series B1 Financing Amid Adverse Market Conditions

We Health Biomedical, the leading domestic brand in genetic testing for hereditary diseases and tertiary prevention of birth defects, recently announced the completion of its nearly RMB 100 million Series B1 financing round, with investors including Shanghai Qingchuang Rongzhi Group.。This round of financing will further strengthen the company's product portfolio and regulatory filings in the areas of genetic testing for hereditary diseases and tertiary prevention of birth defects, while expanding its nationwide network of LDT laboratories.The company has successfully completed five consecutive rounds of financing, with investors including renowned institutions such as Shengshan Capital, Matrix Partners China, Huayao Capital, and Qingrong Chuangzhi.

As a leading brand in China for genetic testing of hereditary diseases and tertiary prevention of birth defects, We Health Biomedical has received numerous qualifications and honors, including recognition as a National High-Tech Enterprise, a Shanghai “Specialized, Refined, Differential, and Innovative” Enterprise, a Shanghai Professional Technical Service Platform for Genetic Testing of Hereditary Diseases and Tertiary Prevention of Birth Defects, one of the first industrialization base members authorized by the Ministry of Education’s Engineering Research Center for Gene Technology, a Top 100 winner on the 2023 VCBeat 100 – China Innovative Medical Services List, a “Rising Star” in Genetic Testing Enterprises in the 2021 Forbes China Maternal and Child Health Industry Series, an EY-Fudan Most Promising Enterprise, a Pudong New Area Enterprise R&D Institution, a Postdoctoral Innovation Practice Base, holding a Practice License for Shanghai We Health Medical Laboratory, certified qualified through technical review and acceptance for Clinical Gene Amplification Testing Laboratories, holding External Quality Assessment certificates, achieving full marks in proficiency testing by the American College of American Pathologists (CAP) and the European Molecular Genetics Quality Network (EMQN), certified for Quality Management System (QMS), Environmental Management System (EMS), Occupational Health and Safety Management System (OHSMS), and Intellectual Property Management System, awarded the Excellence Award at the 11th China Innovation and Entrepreneurship Competition (Shanghai Division), shortlisted for the national finals of the 11th China Innovation and Entrepreneurship Competition, ranked among the Top 100 in the 2023 Shanghai High-Value Patent Operation Competition, runner-up in the 2020 “Fudan Star” competition, recipient of the Special Contribution Award in the National NGS Library Preparation Competition, titled a Shanghai “Emerging Startup Enterprise,” funded by the 6th Fudan-Yunfeng Big Health Special Fund, and a member unit of the Shanghai Genetics Society.

In recent years, driven by the COVID-19 pandemic and economic conditions, the domestic investment and financing environment has become exceptionally cold. Under these circumstances, We Health Biomedical has continuously launched multiple core business products characterized by high technological content and broad market prospects through sustained technological innovation and improved operational efficiency. This has strengthened its market competitiveness and earned high recognition from the government, clinical experts, and the capital market. With support from various sectors of society, including the market, investors, and the government, We Health Biomedical will continue to strive to actively advance genetic testing for hereditary diseases and the three-tier prevention and control system for birth defects, committed to improving the quality of the newborn population and reducing the proportion of births with genetic disorders in China.

Investor in this round: Shanghai Qingchuang Rongzhi GroupWe remain bullish on the sector of genetic testing for hereditary diseases and the three-tier prevention and control system for birth defects. The incidence of hereditary and rare diseases in China is high, with significantly elevated rates of mortality, disability, and congenital malformations. Only by increasing the coverage of three-tier preventive screening can we truly reduce the incidence and prevalence of hereditary diseases in China. We are highly optimistic about We Health Biomedical’s leading position and sustained R&D capabilities in genetic testing for hereditary diseases and the three-tier prevention and control of birth defects. We encourage We Health Biomedical to build on its momentum and continue contributing to this nationally beneficial endeavor of reducing the population affected by hereditary diseases in China.

Mr. Gao Pengfei, Chairman of we health BiomedicalIt was stated that genetic testing for hereditary diseases and the three-tier prevention and control system for birth defects not only represent a market worth hundreds of billions but also benefit the nation, the people, and humanity as a whole. Due to the delayed diagnosis and intractable nature of hereditary diseases, genetic testing is transitioning from diagnostic applications to proactive pre-screening. We Health Biomedical has long maintained a positive outlook on the application of hereditary disease screening and diagnosis in the prevention and control of birth defects. The company is actively developing clinical testing services and products for all stages of the three-tier prevention and control system, vigorously promoting the implementation of related testing services and the regulatory submission of its products. Through these efforts, We Health Biomedical aims to contribute to reducing both the proportion and absolute number of patients with hereditary diseases in China. The mission of genetic testing for hereditary diseases and the three-tier prevention and control of birth defects is arduous and requires long-term commitment; We Health Biomedical remains dedicated to this journey alongside its peers and partners.

We Health Biomedical, established in 2016, is a leading brand in genetic testing for hereditary diseases and tertiary prevention of birth defects. The company holds globally and domestically leading technological advantages in non-invasive prenatal diagnosis and screening for monogenic disorders (NIPT-M, NIPT-Denovo, NIPT-SR), preimplantation genetic testing (PGT-M, PGT-SR), products of conception testing, and kinship analysis.

We Health Biomedical is a specialized technical service platform in Shanghai for genetic testing of hereditary diseases and tertiary prevention of birth defects. It is recognized as a National High-Tech Enterprise, a Shanghai “Specialized, Refined, Differential, and Innovative” (SRDI) Enterprise, and an Enterprise R&D Institution in Pudong New Area. The company operates an independent third-party medical laboratory and has IVD and POCT production bases. Its business covers full-cycle screening and diagnosis of hereditary diseases (tertiary prevention), testing for infertility and products of conception, and preimplantation genetic testing (PGT-M, PGT-SR). Equipped with various testing platforms for the diagnosis and screening of hereditary diseases, the company provides comprehensive solutions for genetic testing and scientific research. Its core technical team consists of PhDs from top global institutions such as Fudan University, Harvard University, the University of Southern California, the Chinese Academy of Sciences, and Kyushu University in Japan, with a particular strength in the PhD cohort from Fudan University, a leader in genetics in China. The management and operations team holds educational backgrounds from prestigious business schools, including Cheung Kong Graduate School of Business, Guanghua School of Management at Peking University, Shanghai Jiao Tong University, and Shanghai University of Finance and Economics. The company holds 35 granted patents, 13 patents under substantive examination or acceptance, 59 software copyrights, 54 trademarks, 28 medical device registration certificates, and 27 CE certifications.