IVDER Raised Tens of Millions of CNY in A Funding Round Led by Australian-silver capital China to Develop IVD

  • 2019-01-16

IVDER Life Technology Co., Ltd. (IVDER), an in-vitro diagnostic medical device developer, completes funding of tens of millions of CNY in a round led by Australian-silver capital China. It is reported that the fund will be used for product registration, production base construction and talent team construction. Founded in 2016 and located in Shenzhen Biomedicine Innovations Industrial Park, IVDER has been dedicated to in vitro diagnostics (IVD). The company has three product lines: coagulation & hemostasis, chemiluminiscence, and clinical microorganism. The competitive product of IVDER is a full-process automatic thrombelastography (TEG) machine, which won the third prize in the third “Pingshan Qilin Cup” Innovation and Entrepreneurship Contest final in July 2018.

Since 2000, the company has introduced the TEG test and pioneered the application in anesthesiology department, ICU, cardiopulmonary bypass and organ transplantation departments. In June 2007, the TEG machine was included in the new and amended directory in the List of Clinical Test Items in Medical Institutions and the National Health Service Price Items Standard (trial, 2001) issued by the then Ministry of Health of P.R.C. According to an industry analysis, the TEG market is expected to reach CNY 3 billion in 5-10 years.

In 2017, IVDER merged the Render, which focused on microbial blood culture, drug sensitivity test, and hemagglutination products marketing across over 30 countries. To Jin Ying, the founder of IVDER, the commercialization of IVD products is essential, while marketing is the top priority. The experience of Render in international market operation will contribute to IVDER’s marketing strategy of “balanced development in domestic and overseas markets”. “There is little room for startups in the CNY 60 billion IVD market in China,” Luo Zhensheng, senior investment manager of Australian-silver capital says to IYIOU.COM, “while IVDER focuses on TEG, with the ambition to be professional and strong in the sector. With the strength in research and development, IVDER is expected to overtake peers.”