Bio-Tech Company X-ABT Closes on ￥50M Series B Funding Round

Beijing Applied Biological Technologies Co., Ltd. ("X-ABT"）, an in vitro diagnostic reagent developer, has closed its Series B financing of 50 million yuan, led by Bioventure, with participation from Zero2IPO Ventures and the existing shareholder Wansheng Capital.

Founded in 2010 and headquartered in the Zhongguancun Life Science Park in Beijing, X-ABT is a molecular diagnostic enterprise specializing in the development of detection solutions for pathogenic microbes. 

Based on the multiplex PCR platform, X-ABT has developed and produced more than 300 types of PCR detection reagent for CDCs and hospitals. Most of these reagent kits are related to the diagnosis of foodborne and digestive tract infection, fever and respiratory infection, fever accompanied with papule, new and recurrent epidemic diseases, components of animal origin in meat and meat products, precious traditional Chinese medicine, drug-resistant gene and zoonosis pathogen, etc. Besides, X-ABT has been developing genetic testing projects like tumor genetic testing and pharmacogenomic testing. 

In 2020, a novel coronavirus nucleic acid detection kit developed by X-ABT was selected as a major item of the Beijing Municipal Science and Technology Commission. At present, more than 20 products of X-ABT are in the stage of R & D and certification.

Founded in September 2013, Suzhou Industrial Park Bioventure Investment Management Limited ("Bioventure") manages the new bio-industry funds of 540 million yuan. Bioventure invests in life sciences companies such as biotechnology, drug discovery, medical devices and healthcare services companies in the early stages. It provides capital, management, operation, and other post-investment support and services.

Zero2IPO Ventures is the venture investment arm under Zero2IPO Group targeted at high-potential, high-growth China enterprises. It co-invests with active venture capital firms in growth and late-stage companies and to lead or co-lead in early-stage startups in China. The industry focus includes Internet, mobile and wireless applications, digital media, healthcare, green-tech, consumable products and services, as well as other emerging sectors.