Beijing Haosi (Health) Biotechnology Co., Ltd. (hereinafter referred to as "Haosi Bio" or the "Company"), a leading provider of solutions for clinical mass spectrometry detection, today announced the completion of a Series B financing round of several hundred million RMB. This round of financing was jointly led by Sino-Ocean Capital and Qianhai Fund of Funds, with Huiyuan Capital co-investing, and existing shareholders, Volcanics Venture and Watson Capital participating in the round.

CEC Capital Group served as the exclusive financial advisor of Haosi Bio in this transaction.

This round of financing will be mainly used for the Company's research and development of clinical mass spectrometry testing products, accelerating the registration of additional product lines, recruiting scientific talent, improving third-party inspection services, and expanding marketing efforts. This will help consolidate the Company's leading position in the field of clinical mass spectrometry.

Established in 2016, Haosi Bio is the first company in China to achieve a breakthrough in mass spectrometry detection kits in a variety of disease fields. Relying on deep industry-university-research and development partnerships in the field of mass spectrometry-based in vitro diagnostics, the Company has independently developed a series of domestic and global first-in-class clinical mass spectrometry detection products for multiple uses including early diagnosis of Alzheimer's Disease (AD), cardiovascular and urinary system diseases, and other major disease categories. In particular, the Company has been a global leader in the early diagnosis and monitoring of Alzheimer's Disease, where early detection and clinical treatment is important.

The Company’s product portfolio adopts a combination of exclusive testing products + conventional testing products and leverages a sales and distribution model of "in-hospital test kits + independent clinical lab service” to accelerate approvals of test kits. Meanwhile,

independent clinical laboratories located in Beijing, Sichuan and Jiangsu receive outsourced samples from regional hospitals, covering all clinical needs.

The Haosi-Westlake Precision Medical Center project, jointly created by the Company and Westlake University, is based in Kunshan. The project adopts a completely novel scientific research model and employs world leading scholars in global protein metabolomics, creating a world-class mass spectrometry technology platform. As a shareholder of Jiangsu Haosi Bio, Westlake University adopts an "all-platform access" policy for the Company, closely cooperates with the Company, combines scientific research resources in order to accelerate results and drive the integration of domestically sourced technology with world class technologies.

At the same time, the Company collaborates closely with top scientific research institutions such as the Mayo Clinic, Tsinghua University, Peking University and Vienna Medical University, and combines domestic and foreign technology resources to build a world leading mass spectrometry diagnostic platform. At the same time, the Company actively participates upstream and downstream in the mass spectrometry industry, aiming to provide overall solutions for the entire process of clinical mass spectrometry. In terms of instrumentation, rather than adopting the OEM solution commonly used by other industry players, the Company directly accesses raw materials upstream to build a fully localized instrumentation platform, resulting in costs that are much lower than for existing mass spectrometers sold in the market.

The Company is committed to simplifying and popularizing mass spectrometry detection. It not only invests in the application of mass spectrometry technology to a growing set of clinical needs, but also introduces mature western market detection technologies into the domestic healthcare market. With the large volume of activity in clinical samples in China, independent research and development and innovation efforts will be applied to a broader field.