Yikun Bio completed $100 million in Series B financing, led by Sequoia China and Morningside Ventures

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Founded in 2019, Yikun Bio is a global platform-based innovative enterprise focusing on in vitro diagnostic technology and product development and production
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Focusing on the fields of oncology, maternal and child health and chronic diseases, the company provides in vitro diagnostic solutions at different stages from disease early screening, diagnosis, companion diagnosis and prognosis management

In the past 20 years, in vitro diagnostic products with low technical barriers have completed a high degree of import substitution in China.
In the next 20 years, China's in vitro diagnostic industry will be an innovation-driven market, while in overseas emerging markets, the current supply and demand of in vitro diagnostic products The degree of matching is still low, and high-throughput, automated, and cost-effective products are urgently needed, and the market potential is huge
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In terms of business models, multi-platform innovative companies targeting the global market are gradually replacing traditional channel-based and product-based companies in a single market, leading the development of the in vitro diagnostic industry

For the domestic market, clinical mass spectrometry is one of the core platforms for Yikun Bio to deploy precise diagnosis and treatment
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As PerkinElmer's exclusive strategic partner for clinical mass spectrometry products in China, the triple quadrupole mass spectrometry detection system QSight 420MD produced and declared by Yikun Biotech was approved for marketing in the third quarter of 2021, and has obtained full-spectrum vitamin and multi- Filing of steroid hormone products

Zhang Sheng, CEO of Yikun Bio, said: "After the rapid development of China's IVD industry in the first two decades, we believe that the future opportunities are mainly concentrated in two points: First, continue to introduce and develop innovative products and products in the Chinese market.
The second is to integrate Chinese diagnostic product capabilities to expand the global market
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I believe that the long-term industry experience, technological innovation capabilities and international background of the Yikun team will enable us to gain greater opportunities in the next two decades

We are very grateful to the investors in this round for their recognition of us, as well as the continuous support of our old shareholders, and also to Haoyue Capital, our financing partner in this round
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Adequate financial support enables us to continuously introduce more talents and technologies, expand a larger market, and provide more and better diagnostic products and services for clinical customers in China and around the world

In the next few years, Yikun Bio will complete several new technology cooperations, investments and mergers and acquisitions
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The company will further introduce, integrate and develop a number of domestic and foreign innovative technology platforms through diversified business means, and actively expand in vitro diagnostic business opportunities in emerging markets to provide globalized diagnostic technologies and effective clinical services for China and overseas emerging markets.

Investor's point of view:

Ms.
Yang Yunxia, ​​Partner of Sequoia China, said that Yikun Bio focuses on building a number of internationally competitive diagnostic technology platforms such as mass spectrometry, panoramic pathology, and novel molecular diagnosis, and uses diversified technology platforms to provide effective and effective solutions for patients with different disease stages around the world.
clinical testing program
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We highly recognize the global perspective, technical capabilities and execution capabilities of the Yikun Bio team.

Ms.
Huang Lu of Morningside Ventures said that after more than 20 years of development, China's IVD industry has begun to take shape and has initially completed import substitution; The rapidly growing demand in emerging markets will become the main driving force for the development of China's IVD industry
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The Yikun team is a rare team in China's IVD industry that has both local successful entrepreneurial experience and international business operation experience
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Since its establishment just 2 years ago, the company has developed rapidly, and has completed the initial layout in the introduction of new technologies and international business cooperation
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Morningside is very pleased to be a shareholder of Yikun.
Morningside will make use of its international background and global capital and industrial technology resources to help Yikun become a leader in the new stage of development of China's IVD industry
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The person in charge of the Yuanhe Holdings project said that the best IVD company in China in the future must be a global company
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The domestic IVD industry will enter a stage of innovation-driven development, while there are many unmet needs in overseas emerging markets, which have strategic opportunities
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Yikun Bio allocates talents and innovation resources on a global scale, and through a variety of commercial means, with globalization + multi-technology platforms + linkage of domestic and overseas industrial chains and innovation chains, it conducts a global layout and forms an industrial depth
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The Yikun Bio management team led by Mr.
Zhang Sheng, the founder of Yikun Bio, is a rare top team in the industry.
It has good industry insight, rich industry experience and international vision.
We expect Mr.
Zhang Sheng to continue to lead Yikun.
Based on the domestic market, Biotech is going global, providing effective diagnostic products and clinical solutions for doctors and patients
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Ms.
Zou Jieyu, Managing Director of Lilly Asia Fund, said that LAV highly agrees with Yikun Bio's vision -- to provide the world with diversified, innovative, integrated, affordable, multi-disease, all-stage IVD solutions -- and its " Introduce in, launch out" business model
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In the two years since its establishment, the Yikun team has demonstrated excellent leadership and execution, and has won wide recognition in the industry
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LAV is very honored to participate in the growth of Yikun Bio, and looks forward to working with all investors to help Yikun achieve more results in the future
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Mr.
Duan Liancheng, managing partner of PerkinElmer Ventures, said that under the pressure of the centralized procurement policy, the future development of domestic enterprises will need to rely more on innovation capabilities and better adapt to the medical reform policy by increasing the proportion of new products
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In addition to the income brought by innovation, Chinese companies going overseas have also become a new source of income growth for in vitro diagnostic companies.
Smaller but faster-growing developing countries will become the main battlefield
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The Yikun team has an international vision and transnational management experience, which can better achieve the goal of innovative development and overseas development
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Mr.
Ding Yameng, founding partner of Haoyue Capital, said that Haoyue Capital is honored to be the exclusive financial advisor of Yikun Bio for this round of financing
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Mr.
Zhang Sheng, the founder of Yikun Bio, is a rare and outstanding leader in the domestic in vitro diagnostic industry, with unique strategic vision and excellent commercial landing capabilities
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Yikun Bio's strategy of "serving the Chinese market with innovative technologies and integrating industry resources to expand emerging markets" and its innovative platform-based layout will help the company's products to establish themselves in China and go global
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