Reliable Med Secures Several Hundred Million Yuan in Series A2 with Legend Capital Re-upped

Recently, Medical devices maker Reliable Med has secured several hundred million yuan in its Series A2. As the lead investor of its Series A round, Legend Capital continued to support Reliable Med’s development and made a follow-up investment in this round. The fund will be used to accelerate the clinical transformation, upgrade, capacity expansion and registration of Reliable Med's mass spectrometry hardware and reagent products, increase channel expansion and clinical market promotion, and further promote mass spectrometry technology to become standardized, automated, intelligent and easy-to-use in clinical testing.

Established in June 2019, Reliable Med is committed to promoting the implementation of integrated solutions for innovative detection applications based on mass spectrometry technology. After around three years of development, Reliable Med has grown rapidly into a high-tech company with "mass spectrometry/chromatography/automatic biological sample hardware + supporting diagnostic reagents R&D" and "automation and intelligence supporting clinical laboratory solutions".

Reliable Med's founding team said, "Thanks to the investors for their trust, and to those who have always paid attention to Reliable Med and supported us. We will take this as a driving force and continue to devote ourselves to the R&D and industrialization of the pipeline. Also, we shall provide high-quality products and services for clinical terminals, making inspections more accurate, reliable and efficient."

Joe Zhou, the Managing Director of Legend Capital, said, "Congratulations to Reliable Med's completion of a new round of financing! As the lead investor in the A round, we have witnessed its continuous innovation and breakthroughs in IVD. Rapid progress has also been made in business and team building. We are glad to make a follow-up investment in this round, and we look forward to Reliable Med's greater achievement in promoting the development of clinical mass spectrometry in China."

Legend Capital has long been focusing on investments in medical devices and diagnostics, focusing on three major themes in this direction. The first is the unmet clinical needs of major diseases, especially chronic diseases. The second is the first and unique technology, which has become or has the potential to become a leading company in the niche market. The third is the investment opportunity of "device +" brought by integrating cross-border technologies such as AI, IoT and big data with medical devices.

At present, Legend Capital’s investment layout in the field of medical devices and diagnostics includes Careray Digital Medical (688607.SH), Axonics (AXNX), New Horizon Health (06606.HK), Easy Diagnosis Biomedicine (002932.SZ), Berry Genomics (000710.SZ), Aohua Photoelectricity Endoscope (688212.SH), Chemclin Diagnostics (688468.SH), Bioheart (02185.HK), Beijing Star Instrument Technology, ET Healthcare, Guoke Hengtai Medical, Hailai Xinchuang Medical, Yeasen Biotech, Dearer Medical, etc.