10/25/2021 | Press release | Distributed by Public on 10/24/2021 20:38
Global investment firm Carlyle (NASDAQ: CG) today announced that Carlyle Beijing Partners Fund II has led the Series A financing for BiOligo, a Chinese in vitro diagnostics (IVD) raw material supplier.
Founded in 2011, BiOligo focuses on the in vitro diagnostics industry, which is in the upstream genetic and molecular diagnostics industry chain, closely related to precision medicine. It provides core raw materials and technical services for mid- and downstream customers. The founding team worked as executives at GE, Thermo Fisher and other Fortune 500 healthcare and multinational pharmaceutical companies, gaining deep technology expertise as well as strong commercialization and management capabilities.
BiOligo focuses on the innovation of core products, which include various fluorescent labeling probes and NGS (next-generation sequencing) library preparation kit probes. It also provides gene sequencing, gene synthesis and testing scheme design services. Its products can be applied in virus detection, serious diseases screening, genetic drug development and research, forensic identification, inspection and quarantine, food safety monitoring and more.
Li Jun (Peter), CEO of BiOligo, said: "The Chinese in vitro diagnostics sector has continued its high growth in recent years, but the sector has long been dominated by multinational companies. Development of local technology and the COVID-19 pandemic, along with other factors, are accelerating the domestic substitution trend. The completion of this financing round demonstrates investors' confidence in the team's years-long hard work and will empower the company's future development, supporting its expansion of product lines and growth in the upstream raw materials sector. We are grateful for the support and trust from all our investors. We will leverage our high-standard industrial-grade synthesis platform, branding, R&D capacity and close relationships with our customers to continue to improve technology and to strengthen our leading position in the market."
Yang Ling, Managing Director on the Carlyle Asia advisory team, said, "In the context of precision medicine, clinical requirements for testing sensitivity, specificity and accuracy have increased, and this trend of higher requirements also applies to upstream raw materials. Carlyle recognizes BiOligo's strong R&D, production and marketing capabilities in the raw material field, and will seek to support the company as it applies these capabilities to other diagnostic and therapeutic fields to extend its products and services in the in vitro diagnostic and mRNA drug raw materials sector."
Carlyle has extensive experience and resources in the global healthcare sectors. As of June 30, 2021, Carlyle has invested more than US$14 billion of equity in more than 80 deals in the global healthcare sector. Its portfolio companies are located in Asia, Australia, the United States, Europe and other parts of the world, and comprehensively cover all aspects of the healthcare industry chain. International investments include Ortho Clinical Diagnostics, Johnson & Johnson's medical diagnostics business; PPD, a leading global pharmaceutical product development company; AMRI, a leading API manufacturer in the U.S; Metropolis Healthcare, a multinational chain of pathology labs and diagnostic centers in India; Rede D'Or, the largest private hospital group in Brazil; and MAK-SYSTEM, a leading French medical software company. Chinese investments include HutchMed Pharmaceuticals, Abbisko, Salubris, Adicon, Ambrio Pharmaceuticals, MicroPort Medical, Meinian Onehealth, and Haier Biomedical.
Carlyle is a long-standing global investment firm with operations in China, making investments in this market for over two decades. With global resources, deep industry expertise and strong local knowledge, Carlyle has invested more than US$10.5 billion of equity in over 115 transactions across China as of June 30, 2021.
Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Investment Solutions. With $276 billion of assets under management as of June 30, 2021, Carlyle's purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs over 1,800 people in 27 offices across five continents. Further information is available at www.carlyle.com. Follow The Carlyle Group on Twitter @OneCarlyle.
Shanghai BiOligo Bio-Technology Ltd. integrates professional management, R&D, production and service teams. We specialize in establishing and providing high quality DNA synthesis/sequencing, experiment, production and various customized services using internationally advanced DNA synthesis and DNA sequencing technologies as well as advanced gene synthesis/genotyping and other service technology platforms. BiOligo has a strong production service capability in primer/probe synthesis. With advanced synthesizers, professional R&D and production technicians, and mature synthesis and purification processes, we have introduced Lean-Six Sigma management methods and are personally guided by Master Black Belt who has rich management and practical experience. Hence, not only can we provide customers with high quality and a wide variety of primers &probes, but we also strictly implement the ISO quality control standard system, meticulously implement the standard operation specification link by link, and monitor the synthesis of each primer in the whole process, as well as actively use Lean-Six Sigma tools and methods to continuously optimize the production and service process to ensure fast, accurate, high quality and stable provision of the customized services required by each customer.
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