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The Venture Codex

Mingzhi Fund

No. 1766 Chalbagh Street, Shayibake District, Urumqi, Xinjiang, 830000, China

Overview

Mingshi Investment engages in venture capital and enterprise management services.

Total investments
1
Lead investments
1
Investments · 12mo
0
Active investors
1

Sector focus

  • Finance
  • Financial Services
  • Venture Capital
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Investment portfolio

  • RainSure Scientific

    Led · Series A · Nov 2018

    Founded in 2017 and headquartered in Suzhou Industrial Park with a wholly owned life-sciences subsidiary PreciGenome LLC in Silicon Valley, 锐讯生物 develops digital PCR systems and microfluidic equipment for molecular diagnostics and life-science applications. The company’s core is a self-developed microfluidic platform used to build a series of digital PCR products and LNP (lipid nanoparticle) microfluidic systems, with product lines covering research, pilot and GMP versions. Its diagnostics line claims the only domestic digital PCR system approved by NMPA, CE and FDA-EUA, and has been installed and clinically validated at multiple top-tier Chinese hospitals; the firm also reports ~40% of revenue from overseas customers. Publications and citations for its products exceed 40 papers and 380 citations, with literature appearing in high-impact journals and product use at institutions including Yale and Harvard Medical School. Ongoing R&D includes a microfluidic-card POCT digital PCR system and further development of LNP production equipment to serve growing mRNA and RNA-therapy markets. The company plans to use new funding to advance product R&D, pursue domestic and overseas clinical registrations, optimize production lines and expand sales, technical support and after-sales teams. RainSure Scientific develops and produces digital PCR instruments, including the DropX-1000 and the market-launched DropX-2000. The DropX-2000 is described in the articles as a four‑fluorescence‑channel digital PCR device and has been adopted by customers such as the Chinese Academy of Sciences. The company has developed more than 50 in-house testing kits covering tumor point mutations, gene fusions and copy-number variants for cancers including NSCLC, colorectal, melanoma, breast and gastric cancers. RainSure has obtained two medical-device registration certificates and is actively targeting clinical diagnostics, companion diagnostics and liquid biopsy applications. The company plans to use the new funding to advance testing-kit development tied to its digital PCR system and to build its sales channels. Ruixun Biotech (苏州锐讯生物科技有限公司) designs and manufactures digital PCR instruments, associated reagents and consumables, combining microfluidics, optics, precision instrumentation, electronics and biochemistry. The company was founded in January 2017 in Silicon Valley and operates R&D and operations in both China and the U.S.; its founding team includes PhD graduates from Ivy League and other top universities with industrial product-development experience. In April the company launched two research products: the DMX-NGS-1.0 high-throughput sequencing sample enrichment instrument (claimed domestic first and used by Peking University Medical Innovation Valley and firms in Shanghai Zhangjiang) and the DMX-CS-1.0 single-cell preparation instrument, with planned deployments at Shanghai Jiao Tong University and Tsinghua University. Ruixun has submitted seven patent applications in China and the U.S. and says its devices outperform comparable imported products. The company plans to release 2–3 new products by the end of 2018 and to begin medical-device registration for its flagship digital PCR product. According to the incubator, Ruixun is the only peer from its cohort to have completed two financing rounds and generated sales.

Team

  • Xia Ling