GENFINE Biotech obtains angel round of millions of financing

On February 23, 2018, Jifan Biotechnology (Beijing) Co., Ltd. (hereinafter referred to as Jifan Bio) announced that it had received an angel round of financing of millions of RMB. The investor this time is the West Taihu Medical Device Industrial Park, and the funds raised will be used for product research and development and subsequent production to provide downstream companies with molecular diagnostic reagents and overall solutions.

GENFINE Biotechnology (Beijing) Co., Ltd. is a biotechnology company integrating R&D, production, sales and technical services. Jifan is committed to becoming a leading technological innovation company that can provide overall molecular biology solutions. In the future, we will form a complete solution provider covering various medical sample storage, extraction, PCR, second-generation sequencing, and third-generation sequencing.

Asked why he chose to start a business at the time, Yang Liang, the founder of GENFINE Biotech, replied: “I hope to build a large enough platform to find a few like-minded friends and do something meaningful.”

Both Yang Liang and his partners have been working in the field of molecular diagnostics for nearly 10 years. In this field, since there are not many domestic companies with core technologies, most reagents and consumables rely on foreign imports, and huge profits can be imagined.

The team of GENFINE Biology comes from well-known domestic universities and holds a master’s degree or above in biology, and comes from leading domestic molecular diagnostic companies such as Tiangen Biochemistry, Shengxiang Biotechnology, and Anno. With the accumulation of industry experience, Yang Liang realized that the domestic reagent market is monopolized overseas, and domestic reagents are constantly rising today, and the import substitution movement will create a whirlwind in the molecular diagnostic industry.

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