Qiming-Backed Hochuen Medical Bags Over CNY 10 Mn in Series B Round

Healthcare Author: Peilin He Editor: Yiran Xing Feb 08, 2023 04:50 PM (GMT+8)

Microfluidics technology, at the core of point-of-care testing (POCT), has huge potential for growth.


Hochuen Medical Technology Co., Ltd (Chinese: 深圳市合川医疗科技有限公司) secured a Series B round of over CNY 10 million yesterday. CoStone Capital (Chinese: 基石资本) was the lead investor. Qiming Venture Partners (Chinese: 启明创投), who led Hochuen Medical's Series A round also participated in this round.

Proceeds will be used for expanding CDMO (Contract Development & Manufacturing Organization) business, developing new technologies, and increasing overseas production capacity.

Founded in 2016 and headquartered in Shenzhen, Hochuen Medical is a CDMO manufacturer providing In Vitro Diagnostics (IDV), microfluidic biochips, and high-end medical devices.

Liu Hui, co-founder and chairman of Hochuen Medical, believed that dramatic changes would be seen in the biomedical industry in the next few years. "The COVID-19 pandemic has stimulated the demand for point-of-care molecular diagnostics and home health tests," he said, "and the latest medical biotechnology advancement has greatly facilitated the mass production of microfluidic chips."

Managing Director of CoStone Capital Huang Yiling believed that microfluidics technology has huge potential for growth.

Xubo Hu, Managing Partner of Qiming Venture Partners, reckoned that there will be exponential growth in demand for microfluidic chip technology.