TargetingOne completes largest domestic digital PCR financing
The TD-1 digital PCR series of products, independently developed by TargetingOne, have been successfully exported following strict product testing and audit inspections, marking the first export of Chinese digital PCR products. [targetingone.com]
TargetingOne Technology Co Ltd in the Zhongguancun Demonstration Zone recently announced the completion of its Series B financing of 150 million yuan ($ 23.16 million).
As a leading digital polymerase chain reaction (PCR) company, this round of financing will help the company to boost the development and clinical trials of a variety of innovative molecular diagnostic reagents, promote the application of digital PCR products in the life sciences and clinical fields, and accelerate their commercial deployment.
TargetingOne debuted in the 2020 Zhongguancun International Frontier Science and Technology Innovation Competition with a project titled "Digital PCR-based Accurate Quantitative Nucleic Acid Detection Platform for COVID-19", and won the championship finals, ranking first in a special session on virus detection technology.
With the increasing demand for tumor liquid biopsy, early tumor screening, early diagnosis of infectious diseases, rapid diagnosis of severe infection, and non-invasive birth defect screening, digital PCR, as a breakthrough "third-generation PCR technology", has a huge potential market.
With the advantages of single-molecule level sensitivity, precise absolute quantitative analysis, strong anti-interference ability, simple operation and easy standardization, the project is one of the most promising next-generation molecular diagnostic platform technologies.
Since its establishment, TargetingOne has been focusing on the independent research and development of digital PCR technology.
It has system-wide research and development (R&D) capabilities from chips, instruments, software, raw materials, reagents, and consumables in the field of digital PCR, and has applied for over 100 related technology patents.
With an excellent R&D team, a complete intellectual property system, strong digital PCR technology, and commercialization capabilities, TargetingOne has quickly established product lines for treatments such as tumor liquid biopsy, early tumor screening, early diagnosis of infectious diseases, rapid diagnosis of severe infections and birth defects.
Based on a self-developed micro-droplet digital PCR platform, TargetingOne continues to develop innovative in-vitro diagnostic products.
Its COVID-19 nucleic acid detection kit is already in the registration and approval stage and has been applied in many key diagnosis, treatment and research institutions.
The human EGFR gene detection kit for liquid biopsy of lung cancer is undergoing clinical trials as Class III medical devices. This year, kits for the detection of infectious diseases and tumor genes will enter clinical trials.
This round of financing was led by Lilly Asia Ventures. China Growth Capital, Gaoling Ventures, Qingdao Yufeng and Zhongyuan Huichen followed up with the investment, and Potential Cap served as the financial advisor.
Founded in 2015, TargetingOne focuses on the independent innovation of molecular diagnostic technology. It has a high-level R&D team in the fields of instruments, chips, materials, reagents, and software. The company has grown rapidly, applying for more than 100 domestic and foreign patents, over 40 authorized patents, publishing a number of academic papers in authoritative journals, and undertaking national scientific research funds.
The company's digital PCR system developed based on independent intellectual property rights has won the gold award for China's in-vitro diagnostic outstanding innovative products for two consecutive years.