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SHANGHAI, March 29, 2022 /PRNewswire/ — Qiming Venture Partners’ portfolio company Rendu Biotechnology (SESH: 688193), a leader in RNA molecular diagnostics in Chinatoday listed on the Science and Technology Innovation Board (the “STAR Market”) of the Shanghai Stock Exchange. The issue price is CNY 72.65 per share, representing a market cap of CNY 2.9 billion.
Qiming Venture Partners is the earliest investor in Rendu Biotechnology and led the company’s Series A financing round in 2013. Before the IPO, Qiming’s USD and RMB funds held a combined share of 24%, making it the largest institutional investor in Rendu. The successful listing of Rendu also marks the third IPO in Qiming’s portfolio in 2022.
Rendu Biotechnology is one of the first life science companies in China to focus on RNA molecular diagnostic technology, committed to developing innovative diagnostic technologies and products with unmet clinical needs. Leveraging its exclusive patented technology platform, RNA simultaneous amplification and testing (SAT), the company develops, manufactures, and sells integrated molecular diagnostic reagents and equipment, providing solutions for accurate diagnosis, effective prevention and control, and personalized treatment of pathogens in the fields of reproduction, respiration, digestion, blood, food, and environmental safety.
In addition, Rendu Biotechnology launched AutoSAT, the first fully automatic, high-throughput, and full-process integrated platform for nucleic acid detection in China’s molecular diagnostic space. The system has expanded the clinical application from traditional molecular diagnostic laboratories to …
Full story available on Benzinga.com
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