(VCBeat) Feb. 22, 2021 -- Shanghai-based Rigen Bio recently announced the closing of a Series A financing of nearly 100 million yuan, led by Oriza Seed Capital, with participation from ZhenFund and Prosperico Ventures. the fresh round of funding will be used towards the clinical trials and registration of Rigen Bio's molecular diagnosis products for thyroid tumor, new product development, and sales channel construction.

Rigen Bio is a high-tech company focusing on comprehensive solutions for the molecular diagnosis of tumors, especially thyroid tumors. The company was founded in August 2017. After three years of R&D, it has built a complete product line based on PCR and NGS for thyroid tumors and is now rapidly promoting the registration and listing of the products.

Rigen Bio has been certified as a high-tech enterprise and established its ISO13485 quality system. Up to now, it has applied for 7 patents and 15 copyrights, and successfully completed this round of financing of nearly 100 million yuan.

Oriza Seed Capital is the early-stage investment management platform of Oriza Holdings, focusing on seed funds and growth funds. Oriza Seed Capital mainly invests in early and growth-stage start-ups in TMT and Healthcare. At present, the company has set up subsidiaries or offices in Suzhou, Shanghai, Hangzhou, Guangzhou, Nanjing and Beijing.

ZhenFund is a seed fund founded by former entrepreneurs to invest in the most promising innovators. New Oriental co-founders Bob Xiaoping Xu and Victor Qiang Wang established ZhenFund in 2011 in collaboration with Sequoia Capital China. ZhenFund now has a network of over 700 portfolio companies, including over 10 unicorns based in China.