Rigen Biotech completed nearly 100 million CNY of financing

Shanghai Rigen Biotech Co., Ltd. (hereinafter referred to as "Rigen") recently completed a new round of financing of nearly 100 million CNY. This round of financing is led by BioTrack Capital, followed by Guotai Junan Innovation Investment and Rencent Capital, and Potential Capital acts as financial adviser. Previously, Rigen also received a round of financing led by Oriza Holdings, followed by Zhen Fund and Prosperico Venture.

It is reported that this round of investment will help Rigen to maintain a leading position in the booming clinical testing track of thyroid cancer in the promotion of clinical pipelines, scientific discovery and concept verification of cutting-edge products and commercialization.

Focusing on thyroid cancer from preoperative sampling, diagnosis and postoperative monitoring, Rigen launched thyroid biopsy needle, polygenic qPCR detection, NGS detection and thymoscan ® The whole process series of products such as thyroid nodule benign and malignant classifier and postoperative recurrence monitoring provide an integrated solution for the whole diagnosis and treatment cycle of thyroid cancer.

After more than four years of research and development and accumulation, the company's preoperative multi gene qPCR and NGS products have entered the stage of clinical registration. At present, they have been verified by tens of thousands of clinical samples, and the leading advantage of subdivision track is obvious. At the same time, the company's heavy product thyroscan ® Thyroid nodule benign and malignant classifier, benchmarking thyroseq in the United States ®，Committed to replacing cytopathological diagnosis. Unlike the auxiliary diagnosis of registered PCR or NGS reagent, thyroscan ® Through the combination of multiple gene loci and multiple modules, the machine learning algorithm is established to realize the accurate diagnosis of the nature of preoperative thyroid nodules, the risk stratification, prognosis judgment and drug guidance of postoperative thyroid cancer, so as to realize the accurate diagnosis and treatment, and become the ultimate solution product for the molecular detection of thyroid nodules in China.

At the same time, Rigen actively arranged the management of chronic diseases after thyroid cancer surgery and assisted the health monitoring of postoperative patients. Most patients with thyroid cancer have a good prognosis, but postoperative patients still need perennial health monitoring and medication. Follow up for many times a year, from registration, payment, medical treatment, testing, taking medicine and so on, we have to queue up for many times, and the medical treatment time is very short. This "long and short" not only wastes hospital resources, but also occupies a lot of valuable time of thyroid cancer patients themselves, with a very poor sense of experience. At the same time, the limited outpatient time of surgical experts can not meet the needs of huge postoperative patients.

At present, the company's business has covered more than ten provinces, nearly 100 class III hospitals and formed hundreds of key customers. After this round of financing, the company will further consolidate the sales team, expand the company's business territory and provide China's thyroid disease patients with international first-class diagnosis and treatment solutions. With the registration of the company's products, the expansion of product pipelines and the establishment of a new model of chronic disease management, the company's sales revenue will also show multiple growth.

About Rigen:

Rigen Biotech is a high-tech corporation dedicated to the development, production, sales and testing services of individual molecular diagnosis products. The corporation was founded in August 2017 with 2500 square meters in the Inor Park, Pujiang Town, Minhang District, Shanghai. Moreover, it has a level-10000 clean GMP standard workshop and R&D laboratory, with mature technology platforms such as first-generation sequencing, fluorescent quantitative PCR, digital PCR, next generation sequencing molecular detection, biological information analysis, etc. Through the establishment of ISO13485 quality system and the opening of domestic and international markets, it is expected that Rigen Biotech will be promoted as a famous brand at home and abroad in five to six years.