Beijing Baicare Raises Nearly 70 Million Yuan in Series B Financing

Beijing Baicare Biotechnology Co., Ltd. (“Beijing Baicare”) announced the completion of 65 million yuan B round of financing. This round of financing was led by Sinopharm Capital, and the existing shareholders of the company also participated in the follow-up investment. At this point, Beijing Baicare has accumulated more than 100 million yuan from well-known medical funds.

Founded in 2013, Beijing Baicare is committed to the development, production, and sales of automated nucleic acid detection systems. The company is headquartered in Changping District, Beijing, and its production subsidiary is located in Wuqing District, Tianjin. The company relies on microfluidic chip platform technology to develop rapid nucleic acid detection products for pathogenic microorganisms in severe respiratory, digestive, blood, urinary, and other diseases. It has developed several product platforms and nucleic acid detection kit for respiratory infections. The series of nucleic acid detection kits have the advantages of multiple indicators, multi-person, one-hour rapid detection, high sensitivity and automation, which can effectively meet the needs of clinical acute and severe infection detection.

"Sinopharm Group has rich industry resources in medical experts and hospital terminals. The cooperation speeds up our company's research and market development. We will maintain our ambition and pragmatic style, recruit more talents, and fully exert the energy of our strivers to fully meet the needs of our customers," said Zhang Guohao, the chairman of Beijing Baicare.

"The field of microfluidic nucleic acid detection has a good development prospect. We are optimistic about the technological research and development strength and product advantages of Beijing Baicare. We will use the industrialization experience and resource advantages of the Sinopharm system to accelerate Beijing Baicare’s product promotion and research. And we believe it will benefit patients and industry." said Shi Wei, the managing director of Sinopharm Capital.

Sinopharm Capital locates in Shanghai. It is a professional equity investment institution established by Sinopharm Group focusing on medical and health fields. Having a deep understanding of the development in the medical & health industry, industrial operations, and capital operations, the team of Sinopharm Capital effectively integrate the internal and external resources to help small companies. By early August 2019, Sinopharm Capital manages 6 funds. Previously, Sinopharm Capital's investment cases include Ansun, He Yu, Sinopharm Oral, etc.