Biozon Raises ￥300M in Series C Funding Round

(VCBeat) Mar. 3, 2021 -- Zhejiang Baichen Medical Technology Co., Ltd. ("Biozon"), a clinical mass spectrometer testing service provider, today announced the completion of a Series C financing of 300 million yuan, led by CPE, with participation from Huagai Capital and Sherpa Venture Capital. China Renaissance acted as the exclusive financial adviser. 

The investment will enable Biozon to further improve the R&D of its core product line and hardware, and accelerate the deployment and comprehensive coverage of products in medical institutions and the layout of precision medical ecosystem. The latest round has created the highest single financing amount in the field of clinical mass spectrometry in China, which is of milestone significance.

Up to now, Biozon has completed four rounds of financing from Ningbo Shiyi, Puhua Capital, Vinno Capital, Fortune Capital, and so on.

Biozon is the first domestic biotechnology company that integrates multi-platform technology and multi-omics data with mass spectrometry as the core to provide precision diagnosis and treatment solutions driven by clinical needs. The company focuses on providing integrated solutions for clinical mass spectrometer testing, covering equipment, reagents, testing services and academic systems to build a complete clinical diagnosis and treatment ecology.

Biozon has independently developed more than 300 kinds of testing in the four fields of maternal and child health, mental, endocrine and tumors, nearly 70 in vitro diagnostic kits, 5 types of mass spectrometry and related pretreatment equipment, and obtained more than 20 national invention patents at the same time.

Up to now, Biozon's business has spread across more than 20 provinces, municipalities and autonomous regions in China. It has cooperated with nearly 1,000 medical institutions to provide integrated solutions of clinical mass spectrometry platform for hundreds of first-class hospitals at grade 3 in China.

CPE is a leading alternative asset manager, with asset classes spanning private equity, mezzanine and the public market. Founded in 2008 by a world class team of investment professionals and supported by over 200 domestic and international investors, the firm uses its sector expertise to generate deal flow and drive the value creation work during the post-investment stage. 

Founded in 2012 and headquartered in Beijing, Huagai Capital is a private equity investment firm that invests in start-up or growth companies in the areas of healthcare, TMT, and culture.