Matrix Partners China Leads $14M Series C Round In Chinese Biotech Firm Lansionbio

Nanjing-based biotech firm Lansion Biotechnology (Lansionbio) has raised nearly RMB100 million (US$14 million) in a series C round of financing led by Matrix Partners China with participation from Bondshine Capital.

Proceeds of this round will be used for product sales channel expansion and operational service enhancement, innovative research and development of new technology products, and further expansion of the product line to enhance customer service capabilities.

“The active microfluidic technology proposed by Lansionbio has overcome the technical difficulties and high cost of traditional passive microfluidics, which has greatly enhance the microfluidic products and economic performance," said Dr. Yu Zhiyun, managing director of Matrix Partners China.

Lansionbio was founded in 2016 to focus on point-of-care testing (POCT) technology innovation and improvement. The company has developed a microfluidic platform comparable to the performance of large-scale chemiluminescence products, which can control the repeatability and batch-to-batch difference within 5% to ensure the sensitivity and accuracy of the test results.

The company has overcome the technical barrier of active microfluidic, and developed rapid immune diagnostic platform, handheld electrochemical clotting platform, and nucleic acid automatic rapid diagnostic platform. Up to now, it has obtained several product registration certificates, and has gradually started marketing in the fields of cardiovascular, inflammation, endocrine and metabolism in vitro.

(This article is translated from Matrix Partners. You can see the original article in Chinese here.)