Baisheng Biological Snags ￥10M in Angel Round

According to VCBeat, on April 5, 2020, Baisheng (Guangzhou) Biological Products Co., Ltd. ("Baisheng Biological") announced the closing of its angel round of nearly 10 million yuan, led by Yanghe Investment, with participation from Zhongda Venture Capital. Proceeds from the latest round will be mainly used for the marketing of Immunohistochemistry (IHC) products in cancers and subsequent development.

Founded in December 2018, Baisheng Biological is a medical device manufacturer located in Guangdong Medical Valley Nansha Business Park. The company is engaged in the field of tumor pathology. The monoclonal antibody developed by Baisheng Biological was approved to market in September 2019 and has been used in more than 30 medical institutions, including the Second Affiliated Hospital of Guangzhou Medical University and The Air Force Hospital of the Southern Theater Command.

The high-throughput IHC staining instrument developed by Baisheng Biological, together with the enzyme-labeled polymer secondary antibody with independent intellectual property rights, makes the perfect combination of instruments and consumables, and provides a standardized scheme for IHC staining. This staining instrument overturns the traditional IHC technology and has the advantages of high throughput, high efficiency and good quality. At present, the instrument has got the pre-market approval and Baisheng Biological plans to sell it in July this year.

When asked why Baisheng Biological attracted capital, Dr. Tan Ruizheng, the founder of Baisheng Biological, first mentioned the company's core technology--"Our core technology patents are the first condition for us to get financing. We have two patents for inventions that complement each other. One is the high-throughput instrument, the other is the secondary antibody. After years of R&D, we have completed the pre-market preparation for our device, which will soon be used in clinical departments."

Founded in January 2013, Yanghe Investment was registered in Qianhai, Shenzhen City, jointly funded by four listed medical device companies including Yangpu Medical, Hokai, Bluesail Medical and David Medical. Yanghe Investment focuses on early- and middle-stage investment in the field of medical devices.

Founded in 2011 by Sun Yat-sen University, Zhongda Venture Capital is an emerging industrial investment firm aiming to make full use of the advantages and resources of the university and support the transformation of scientific and technological achievements. The company focuses on new medical, new materials, new manufacturing, and other emerging industries.