Yatong Bio Completes Nearly RMB 100 Million Series A+ Financing Led by Qiandao Fund to Advance Life Science Design and Manufacturing

September 2023,Suzhou Yatong Biomedical Technology Co., Ltd. (hereinafter referred to as “Yatong Bio”) announced the completion of its nearly RMB 100 million Series A+ financing round. The round was led by Qiandao Fund, with Borun Capital participating as a co-investor. WinX Capital continued to serve as the exclusive financial advisor.In August 2022, Suzhou Yatong Biomedical Technology Co., Ltd. secured nearly RMB 100 million in Series A financing from investors including Xingze Capital, Wuxi Guolian New Ventures, Borun Capital, and Zhejiang Hongshi. The funds raised in this round are primarily intended to expand the company’s pipeline of high-end products, advance R&D in raw material and material modification, provide leading CDMO services for consumables, and establish a comprehensive international distribution network.

Suzhou Yatong Biomedical Technology Co., Ltd., established in November 2020, is a high-tech enterprise primarily focused on the design, R&D, production, and sales of high-end consumables and packaging materials for the life sciences, agricultural and animal husbandry sciences, medical diagnostics, and drug development sectors. The company also provides comprehensive consumable solutions and CDMO services. Against the backdrop of the rapid global development of the biotechnology industry and the trend toward domestic substitution in China, the core management team leveraged its robust expertise in product R&D and production management to rapidly establish industry-leading automated manufacturing processes for consumables and a comprehensive CDMO service system. Its product portfolio comprehensively covers consumables for biochemical, immunological, molecular, and POCT testing, as well as for production purposes. The company quickly expanded into the supplier systems of mainstream domestic medical clients. Furthermore, empowered by the team’s global perspective, the company proactively entered customer networks in Europe, the United States, Southeast Asia, the Middle East, and Africa, ensuring active participation in international market competition and laying a solid foundation for leading Chinese-made consumables in global expansion.

Based on different application scenarios in life sciences, laboratory plastic consumables can be broadly categorized into: molecular biology, cell biology, filtration/purification, carrier/storage, diagnostics-specific, drug R&D, and agriculture and animal science-specific consumables. The company has accumulated nearly 20 years of experience in mold design, production processes, raw material formulations, intelligent manufacturing, and full-process quality control. With the gradual enhancement of its R&D capabilities, the company has continuously increased investment in raw materials and formulation research, attracting top talent in material science. This has enabled the performance of its consumables to gradually match or even surpass that of well-known international brands, laying a solid foundation for providing customers with superior consumable CDMO (Contract Development and Manufacturing Organization) services.The primary raw materials are polymer compounds with certain biocompatibility, including: high-transparency plastic materials (polystyrene [PS], polymethyl methacrylate [PMMA], polycarbonate [PC], etc.), commonly used plastics (polypropylene [PP], polyethylene [PE], polyethylene terephthalate [PET]), and engineering plastics (ABS, nylon [PA], polyoxymethylene [POM], etc.). Depending on product performance requirements and application scenarios, the company intensifies R&D efforts in additives and formulations based on these raw materials. It is progressively achieving domestic substitution for high-value consumables and delivering high-quality CDMO services, while making breakthroughs in niche fields such as microfluidics, chemiluminescence, next-generation sequencing (NGS), point-of-care testing (POCT), agricultural breeding, and medical auxiliary materials.

Medical polymer consumables typically have stringent requirements for material properties such as surface hydrophilicity/hydrophobicity, protein affinity/repellency, nucleic acid affinity/repellency, anti-static performance, biocompatibility, light transmittance, and temperature-sensitive responsiveness. Due to the high technical barriers in raw materials and product manufacturing technologies, this sector has long been a critical bottleneck in China’s life sciences industry. The continuous expansion of the global biomedical industry has provided fertile ground for rapid sector development. A few domestic companies have already achieved international advanced levels in design, manufacturing, and production processes, accelerating industrial upgrading and consolidation amidst this rapid growth. Suzhou Yatong Biomedical Technology Co., Ltd. is a high-end CDMO company with capabilities in independent mold R&D, raw material development, and international market deployment. It has established fully automated production lines and GMP-compliant injection molding workshops classified at ISO Class 100,000, Class 10,000, and Class 100 standards. In the future, the company will continuously expand its product portfolio and customized offerings, providing customers in related fields with high-quality, rapidly responsive, and stably supplied products and services.

Wei Xiaohu, founder of Suzhou Yatong Biomedical Technology Co., Ltd., stated:“We sincerely appreciate Qiandao Investment Fund Management (Beijing) Ltd.Co. for its attention and strong support of Suzhou Yatong Biomedical Technology Co., Ltd., as well as Borun Capital for its continued backing. We also extend our gratitude to WinX Capital for once again facilitating the swift completion of this new round of financing. The booming biomedical industry has created opportunities for the rise and global expansion of China’s life sciences upstream and downstream sectors. Since its inception, Yatong Bio has adhered to a strategic path that emphasizes both product application design and foundational technical processes, ensuring independent control over core technologies and breaking the long-standing monopoly held by overseas giants. The capital injected in this round will accelerate the expansion of the company’s high-end product portfolio, enable the earlier establishment of a high-quality industrial ecosystem, and contribute to the shared advancement of intelligent manufacturing technologies in life and healthcare.”

Song Weinan, Senior Investment Director at Qiandao Fund, stated:“For a long time, product research and supply in the life sciences sector have been dominated by developed countries, with the market for biological laboratory consumables occupied by a few multinational corporations from Europe and the United States, and high-end consumables largely monopolized. It is an honor to participate in Yatong Biomedical’s new round of financing. Rooted in the intelligent manufacturing of high-end biomedical consumables, Yatong Biomedical maintains a leading industry position thanks to its team’s extensive industry experience and mastery of core key processes. We look forward to the company achieving greater success as it expands into international markets.”

Li Yu, Investment Director at Borun Capital, stated:“We continuously monitor development trends in the upstream biomedical sector. In the face of significant external environmental changes, Suzhou Yatong Biomedical Technology Co., Ltd. remains committed to enhancing product quality and production efficiency, optimizing its customized customer service system, and making the most advantageous judgments and decisions swiftly in response to market developments. The company is steadily deepening its presence in the domestic market while actively establishing overseas channels, thereby rapidly earning widespread recognition from downstream clients. Borun Capital continues to support Suzhou Yatong Biomedical in building an international brand image.”

Zou Guowen, Founding Partner of WinX Capital, stated:“For upstream life sciences companies, successful global expansion is an inevitable path to growth. WinX Capital is honored to once again support the company in completing its A+ round of financing. Leveraging its robust domestic and international channel resources and its keen grasp of industry development rhythms, Suzhou Yatong Biomedical Technology Co., Ltd. has seized the momentum during this period of rapid industry growth. We believe that the company will continue to capitalize on emerging opportunities in the post-pandemic era and achieve further remarkable success.”

Founded in 2011, Qiandao Group adheres to the philosophy of “integrating industry with finance and serving the nation through real economy,” deeply participating in China’s economic development and industrial upgrading. It is committed to becoming a comprehensive holding group that drives innovation through technology and serves the real economy. The Group comprises multiple member enterprises, including Qiandao Investment Fund Management (Beijing) Ltd.Co., which focuses on strategic emerging industries such as pharmaceuticals and medical technology, advanced manufacturing, and new energy and new materials, as well as China Xinxing Asset Management Co., Ltd., a subsidiary of a central state-owned enterprise undergoing mixed-ownership reform. These entities specialize in asset management and investment activities, including equity investment, industrial investment, and special opportunity investment.

Borun Capital Investment Management Co., Ltd. is a capital investment management platform initiated and established by Borun Capital Holdings, with equity participation from East Money Information Co., Ltd., Xiamen Jinyuan Group, and SF Holding Co., Ltd. Borun Capital is dedicated to building professional investment management capabilities across multiple asset classes. Its venture capital (VC) and private equity (PE) investments focus particularly on high-growth opportunities in next-generation information technology, high-end equipment, the biological industry, new energy and new materials, as well as emerging consumer sectors.

WinX Capital is a leading investment bank in China’s healthcare sector, with headquarters in Beijing and Shanghai, covering over 3,000 active institutional investors and industrial groups. It has received numerous accolades, including being ranked No. 1 among “Top Financial Advisory Firms in Healthcare for 2022” by First New Voice, Top 2 among “Best Financial Advisory Firms in Healthcare for 2021-2022” by Qimingpian & New Voice Innovation Services, and Top 5 among “VCBeat Pengcheng Awards · Annual Healthcare Financial Advisory Firms for 2022-2023” by VCBeat.