China medical tech supplier AMS raises $100m
China and US-based Access Medical Systems (AMS) has raised a $100 million round co-led by Sequoia Capital China and GL Ventures.
Kaiser Permanente, Sinovation Ventures, WisdoMont Asset Management and Hidragon Capital also participated. Existing investors Qiming Venture Partners and Matrix Partners China re-upped.
Founded in 2004 in Silicon Valley, AMS’s core asset is a biosensor called Test-On-A-Probe (TOP) which has more than 50 global patents. TOP loads different detection technologies onto a single probe for the analysis of proteins, antibodies, nucleic acids, small molecules and cells, according to a statement.
AMS has two sub-brands, ET Healthcare and Gator Bio, respectively deployed in the areas of in vitro diagnostics and life sciences. ET Healthcare is used in more than 1,000 hospitals in China, facilitating simplified operations with high accuracy. It is backed by investors including Maison Capital, Qiming, Legend Capital, and Matrix.
The company’s latest product, Pylon IRIS, leverages artificial intelligence to do fast detection. It takes only nine minutes to complete a test from sample injection to result, allowing more more than 200 tests per hour.
In life sciences, molecular interaction analyzers are the core tools for research and new drug development. Gator Bio launched a non-labeled biomolecular analyzer in 2019, which can not only perform molecular interaction analyses but also be used for rapid quantitative detection of antibody drugs. It is used by Chinese hospitals and pharmaceutical companies including Simcere Pharmaceutical and Rongchang Pharmaceutical, as well as US universities such as MIT and Cornell.
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