ZXBio, Inc. Closes Funding Round Backed by Major Chinese Investors
The Program on Entrepreneurship caught up with ZXBio Founder, Yang Zhang, to talk about the company’s recent success and plans for the future.
ZXBio, Inc. is a high-tech company whose primary mission involves the development and production of high-quality, low-cost monoclonal antibodies. The company specializes in the production and development of high-end research and diagnostic flow cytometry fluorescent antibody reagents based on its proprietary antibodies, as well as providing third-party medical diagnostic testing services. Their research and manufacturing aims to provide Chinese locals with more affordable diagnostic procedures and pharmaceuticals for treatment. Yang Zhang ‘19 was inspired to start ZXBio after learning that a highly-effective biological antibody used for cancer treatment (Rituximab) was largely unattainable in China due to its extremely high price tag. Read more about ZXBio and Yang’s journey.
Recently, ZXBio raised tens of millions (RMB) in a funding round that included investments from Sinowisdom and Huiyu Investment. In a statement following the fundraising activity, Zong Peimin, founding partner of Sinowisdom, stated, “[ZXBio] occupies a central position in the field of cell therapy companion diagnostics. As a leading enterprise in domestic substitution products, its future development is full of infinite possibilities."
Echoing the sentiments of Sinowisdom, Hu Yinbin, General Manager and Managing Partner of Huiyu Investment, noted, “we believe that ZXBio, with its leading technological advantages and gradually strengthening commercialization capabilities, can meet greater market demands and continue to thrive.”
We checked in with Yang in the wake of the exciting fundraising news:
Why is ZXBio’s work significant at this moment in time?
For the in vitro diagnostic (IVD) and pharmaceutical industry, most antibody raw materials, diagnostic reagents, and biological drugs are imported from foreign companies. China lacks the R&D and manufacturing capacity for these biological materials. I want to provide low-cost, high-quality diagnostic and pharmaceutical products for local people, filling a critical gap in the upstream value chain of the Chinese pharmaceutical and IVD industry.
What has ZXBio been up to over the last couple of years?
Since July 2022, ZXBio, Inc. has developed about 300 hybridomas/CHO cell lines that produce antibodies against different antigens. ZXBio has 126 in vitro diagnostic (IVD) test kit products approved in the China market. Those products focus on diagnosing autoimmune diseases, infectious diseases, solid tumors, and leukemia and lymphoma. The company has successfully operated two third-party diagnostic centers in Hangzhou and Huzhou, China, and keeps growing its annual revenue rapidly in the Chinese market.
What are you working on next?
Within the next two years, ZXBio, Inc. plans to register its own manufactured flow cytometer equipment in China. These products would help analyze cell characteristics (cytometry) and quantify multiple proteins simultaneously. Additionally, ZXBio plans to keep developing and registering novel diagnostic kits for regenerative medicine, organ transplantation, infectious tumors, and immunological diseases. Those steps will help ZXBio become an in vitro diagnostic corporation that manufactures and sells its own brand, Flow Cytometer, with companion testing kits.
What is your vision for the future of ZXBio?
We at ZXBio, Inc. hope to grow its market further in the United States, Europe, Southeast Asia, and other global countries to become a leading IVD company.
