Pushkang Snares ￥10M in Series B Round, Exploring the Blue Oceans of Microfluidic Coagulation

According to 36Kr.com, Zhejiang Pushikang Biotechnology Co., Ltd. ("Pushkang"), a company focusing on microfluidics and coagulation biology, has pocketed tens of millions yuan in a Series B round of financing led by YuanBio Venture Capital (also known as bioVenture), with participation from Sinopharm Capital. Optimas capital serves as the exclusive financial adviser in the latest round.

Proceeds of this round will be used for the development, production and market promotion of new microfluidic coagulation products. Previously, Pushkang has received investments in early stage from Yonghua Capital, Thunderstorm VC, and others.

Founded in 2014, Pushkang is an in-vitro diagnostic (IVD) solutions player focusing on microfluidic coagulation. It uses microfluidic technology for dissociation, combined with microdevice for separation of whole human blood, exploring the medical applications of clotting (thrombosis and hemostasis), and chemiluminescence immunoassay, including the POCT instrumentation, microfluidic chips and related diagnostic reagents. Pushkang has applied those products to the emergency department of large hospitals, small and medium-sized hospitals, community hospitals, clinical departments, new mobile medical diagnostic systems, and other scenarios.

According to Dr. Yu Bo, Pushkang's founder and CEO, the MC500 devices and reagents independently developed by the company has been successfully sold on the market. So far, the number of MC500 devices installed has exceeded 100, covering not only the township, private and secondary hospitals as expected, but also the public first-class hospitals.

Dr. Yu Bo said, compared with other microfluidic products, MC500 has the advantages of whole blood samples from multiple people with multiple indicators (most of the products on the market only sample from single people). It can examine the samples of 6 people in 18 minutes at the same time, further reducing the testing cost.

In addition, Pushkang has made a breakthrough in the field of portable coagulation testing, developing the portable microfluidic coagulation analyzer MC100. MC100 series products can meet the needs of real-time testing in different scenarios such as consumer medical treatment (oral health, ophthalmology, medical beauty, etc.), pet medical treatment, primary medical treatment, monitoring of using anticoagulant medicine, greatly expanding the market of coagulation detection.

Founded in September 2013, 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.