Minkang Bio Closes ￥150M Pre-IPO Funding Round

According to Yiou.com, Minkang Biological ("Minkang Bio") announced that it has completed a ￥150 million (US$21.8 million) Pre-IPO round of financing, led by China Venture Capital. As Gan Jianmin, founder and chairman of Minkang Bio, said, the proceeds of this financing will be used to upgrade the existing products of comprehensive diabetes detection and build a new production base of about 100 acres for future development and capacity foundation, to make full preparation for the listing.

Minkang Bio has received nearly 250 million yuan in financing in five years, including ￥52.5 million series A financing led by Yuansheng Capital in 2015, and ￥40 million led by Shanshan Venture Capital in 2017.

Minkang Bio was registered in Beijing in June 2010 and relocated to Tianjin in September 2013. The company is engaged in the research and development, production, and sales of the blood glucose monitoring system, glycosylated hemoglobin test system, blood lipids, blood ketone body detection system, and POCT (Point Care of internal Care Testing) products.

Minkang Bio has the international first-class 5000 square meters standardization of 100,000 level GMP production base, 1500 square meters professional research and development center.

After years of research and development, Minkang Bio's technology system of electrochemistry, photochemistry, colloidal gold and immunity has been formed. The company has access to nearly 20 patents and software copyright.

Based on comprehensive diabetes and diabetes complications monitoring system, Minkang Bio has built the diabetes health management Internet platform, providing the remote guidance and disease intervention services, to create a "products - monitoring - diagnosis and treatment" health management system, and achieve early prevention, early detection, and early intervention.

China Venture Capital is a professional investment firm mainly engaged in venture capital and fund management, which was initiated by the China National Democratic Construction Association ("CNDCA") in 2000 and shared by members of CNDCA. It is one of the important pioneers in China's venture capital industry.

China Venture Capital manages more than 20 RMB funds. The company's investment covers angel investment, venture capital, equity investment, and industrial mergers & acquisitions. The company focuses on investing in energy conservation and environmental protection, new materials, new energy, high-end manufacturing, rail transit, military aerospace, medicine and medical treatment, the Internet and so on.