Accumulated nearly 250 million yuan in financing
It is reported that the blood glucose monitor developer “Minkang Bio” Today announced the completion of 150 million yuan of Pre-IPO financing, this round of financing led by Chinese venture capital. The company has received nearly 250 million yuan in financing in five years. This round of financing will be used to upgrade the existing product production line, and plans to build a new production base covering an area of about 100 acres in preparation for listing.
The number of diabetes groups in China ranks first in the world, with 114 million people with diabetes, and the prevalence rate is as high as 11.6%. Data show that as of 2013, the awareness rate and treatment rate of diabetic patients in China were only one third, and the control rate was less than 50%, which is still at a low level. In this context, there is a lot of room for development in the monitoring, diagnosis and treatment of diabetes groups.
Minkang Bio’s core products are blood glucose monitors. In addition, in order to expand the monitoring scope, we have also developed instruments for monitoring complications and supporting test strips, such as total cholesterol detection products, uric acid detection products, glycated hemoglobin detection products, etc .
It is understood that Cai Zongzhe, the chief scientist of Minkang Biotechnology, is a doctor of medical engineering at the University of North Carolina in the United States. Industry experience. The research and development team consists of dozens of masters, has obtained nearly 50 patents and software copyrights, and has a monthly production capacity of 100,000 blood glucose meters and 30 million blood glucose test strips.
For such mature medical devices, the core focus is on channels and sales capabilities. Minkang Bio’s thinking is that according to the policy of graded diagnosis and treatment, the focus is on terminal pharmacies and primary-level hospitals, rather than tertiary hospitals.
Accordingly, At present, Minkang Biological sells 2.8 to 3 million instruments annually. Taiwan, more than 200 million pieces of test strips. The company has reached cooperation with more than 300 agents, with a total of more than 60,000 terminal pharmacies, more than 2,000 community-based hospitals, and more than 50 top three hospitals.
It is reported thatAt present, 50.1% of adults in China are pre-diabetic, and about 1/5 to 1/3 of them become diabetic patients. Others may develop cardiovascular and cerebrovascular diseases, Alzheimer’s disease, and estrogen disorders. Levy is a big market worthy of attention.
At present, the blood glucose monitoring market is dominated by overseas brands Johnson & Johnson, Abbott, and Roche, occupying 85% of the domestic market. Domestic brands also include Yicheng, Sannuo, etc., which have a price advantage over overseas brands. For diabetic patients, there are many feasible business models, such as innovative drug development, AI technology for customizing personalized recipes to monitor postprandial blood glucose, and a doctor-patient management platform for chronic diabetes management.