Lansionbio Raises $14M in Series C Round, Led by Matrix Partners China

According to China Money Network, Nanjing-based biotech firm Lansion Biotechnology Co., Ltd.  ("Lansionbio") has raised nearly 100 million yuan (US$14 million) in a Series C round of financing led by Matrix Partners China with participation from Bondshine Capital. Proceeds of this round will be used for the expansion of product sales channels and the pipeline, the improvement of operation and customer services, and the research and development of new products.

Founded in 2016 as a high-tech biotechnology company, Lansionbio is specialized in research & development, production, sale, services of in vitro diagnostic reagents and devices. The company focuses on point-of-care testing (POCT) technology innovation and improvement. It has developed a microfluidic platform comparable to the performance of large-scale chemiluminescence products, which can control the repeatability and batch-to-batch difference within 5% to ensure the sensitivity and accuracy of the test results.

Now Lansionbio has already built up 3 world-leading platforms: microfluidics, immunochromatography, molecular diagnosis. The company has overcome the technical barrier of active microfluidic and developed a rapid immune diagnostic platform, handheld electrochemical clotting platform, and nucleic acid automatic rapid diagnostic platform. Up to now, it has obtained several product registration certificates and has gradually started marketing in the fields of cardiovascular, inflammation, endocrine, and metabolism in vitro.

With its international leading technology, Lansionbio has obtained the ISO13485 certificate and built an R&D center covering 5500 square meters. The company has 2 subsidiaries: Suzhou Lansion Biotechnology Co., Ltd and Jiangsu Huao Lansion Biotechnology Co., Ltd, providing products including IVD devices and reagents.

Affiliated with Matrix Partners, a premier U.S. venture capital firm, Matrix Partners China was founded in 2008 to focus exclusively on investments in China. Since its inception in 1977, Matrix Partners has made hundreds of investments and played an active role in the development of many successful businesses.

Established in February 2014, Bondshine Capital is a subsidiary of Jiangsu High-tech Investment Group Co., Ltd, with a registered capital of 5 million yuan. It is specialized in private equity investment fund management.