Rigen-Bio Completes Tens of Millions RMB Pre-B Financing Led by Jinxing Investment

VCBeat has learned that RIGEN-BIO recently completed a Pre-B financing round worth tens of millions of yuan. The round was led by Jinsheng Investment, with existing investor BioTrack Capital increasing its stake. HAOYUE CAPITAL served as the exclusive financial advisor for this financing round.

RIGEN-BIO was established in Shanghai in 2017. With years of deep engagement in the oncology IVD industries in both China and the United States, the company’s team has gained profound insights into the disparities between the two markets and, by addressing the genuine clinical needs in China, has implemented a comprehensive solution for the entire management pathway of thyroid cancer. In August 2023, RIGEN-BIO obtained the first domestic approval for genetic testing of thyroid nodules, successfully filling the gap in preoperative diagnostic products for thyroid nodules. Meanwhile, RIGEN-BIO is actively expanding its testing portfolio to include new cancer types, taking the lead in establishing regulatory compliance barriers and guiding the industry toward standardized development. Looking ahead, the company will continue to refine its value-driven solutions based on clinical guidelines and essential clinical demands.

With the continuous advancement of imaging technologies and the increased detection rate of nodules, the population with thyroid nodules in China has reached 200–300 million. The vast number of patients with thyroid nodules, coupled with rising incidence and mortality rates of thyroid cancer, have made standardized diagnosis and treatment of thyroid cancer imperative. The "Guidelines for Diagnosis and Treatment of Thyroid Cancer" issued by the National Health Commission explicitly recommend molecular testing for patients with indeterminate benign or malignant thyroid nodules prior to surgery. This approach enables precise preoperative subtyping and patient triage, thereby avoiding patient trauma caused by overtreatment and preventing the waste of medical resources. RIGEN-BIO has launched a comprehensive series of products covering the entire care continuum—preoperative sampling and diagnosis, intraoperative treatment, and postoperative monitoring—including thyroid biopsy needles, multi-gene PCR and NGS tests, and postoperative recurrence monitoring assays. The company has become a standard-setter in the thyroid field and the owner of an integrated platform for full-process precision diagnosis and treatment. In August 2023, the company securedThe First-Certified Preoperative Test for Thyroid Cancer: “Human BRAF/TERT/CCDC6-RET Gene Mutation Detection Kit (Fluorescent PCR Method)”, aligning with guideline specifications and addressing urgent clinical needs, the penetration rate of molecular testing will steadily increase under the trend of standardized diagnosis and treatment.

Currently, leveraging the strong product competitiveness of its thyroid portfolio, RIGEN-BIO has expanded its business coverage to over ten provinces and nearly 100 Grade A tertiary hospitals, cultivating hundreds of key accounts. In addition to solidifying its leading position in the thyroid sector, the company’s highly skilled medical team is deeply analyzing the gaps between the Chinese and U.S. markets and continuously expanding its pipeline into new oncology indications. In the future, with product registrations, pipeline expansion, and the establishment of a new chronic disease management model, RIGEN-BIO will form a tiered, comprehensive product ecosystem covering thyroid and other cancer types, driving multiplicative growth in sales revenue.

Mr. Hong Gendong, Founder of RIGEN-BIORIGEN-BIO stated that it is grounded in clinical needs and committed to becoming a platform-based company that continuously refines value-driven solutions based on clinical guidelines, thereby leading the industry’s standardized development. The company has adopted a differentiated strategy for various cancer types: its thyroid cancer portfolio covers the entire continuum of care, including preoperative auxiliary diagnosis, postoperative recurrence monitoring, and routine management. For other oncology testing products, RIGEN-BIO has introduced new health management strategies for patients at risk of cancer, enabling early disease detection and intervention, optimizing medical resource allocation, and benefiting a broader patient population. By building an ecosystem for the diagnosis and treatment of multiple diseases, the company aims to progressively equip patients with the tools needed to combat various illnesses.

Mr. Yang Wulin, Founder of Jinsheng InvestmentRIGEN-BIO has launched a comprehensive solution for the entire thyroid cancer care pathway in China, aligning with clinical guidelines from both China and the United States; its thyroid cancer-related products received regulatory approval in mid-August. The company is also continuously expanding its pipeline for other cancer indications. Its core management team boasts extensive experience in marketing, sales, and management at top multinational corporations, as well as in entrepreneurship and R&D academia, forming a senior team with a global perspective. We believe that under the leadership of Mr. Hong, the company will bring a distinctive voice to the in vitro diagnostics industry.

Mr. Tao Feng, Partner at BioTrack CapitalIt was stated that the in vitro diagnostics (IVD) industry suffers from severe product homogenization. In response to unmet clinical needs, RIGEN-BIO has developed a range of innovative molecular diagnostic products, including preoperative tests for thyroid cancer and assays for new cancer types. As the lead investor in the previous round, BioTrack Capital has witnessed the company team’s strong execution capabilities and commercialization prowess. By continuing its support in this round, BioTrack Capital looks forward to RIGEN-BIO making greater contributions to the diagnosis and treatment of oncological diseases in China.

Mr. Ding Yameng, Founding Managing Partner and Chief Operating Officer of HAOYUE CAPITALHAOYUE CAPITAL stated that it was honored to serve as the exclusive financial advisor for RIGEN-BIO’s current round of financing, assisting the company in successfully completing the transaction. The core team at RIGEN-BIO boasts profound expertise and robust capabilities in both R&D technology and market insights. By conducting in-depth research into the market differences between China and the United States and implementing localized strategies tailored to the Chinese context, the company has filled several gaps in the domestic market. We believe that value-driven products that truly meet urgent clinical needs and adhere to guideline standards will achieve sustained growth and eventual explosive success. We wish RIGEN-BIO continued prosperity and ongoing industry leadership!