TCM Biosciences
Pioneer and leader in the biomedical industry, focusing on in-vitro diagnostics and reagents.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor investor investor investor investor investor investor | €0.0 | round |
* | N/A | Growth Equity VC | |
| Total Funding | 000k | ||
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Established in 2009 and headquartered in Seongnam-si, South Korea, TCM Biosciences Inc. carved a niche in the molecular diagnostics sector. The company, which also operated under the names TCM Korea and later BL Science, focused on the research, development, and sale of in-vitro diagnostics and reagents. Its product development was centered on multiplex-PCR and real-time PCR technologies to create diagnostic tools for a variety of diseases.
A key product in the company's portfolio was GynPad®, a sanitary pad-type self-sampling kit for detecting Human Papillomavirus (HPV), the virus linked to cervical cancer. This product was designed to allow users to collect samples at home, simplifying the screening process. The company's business model involved not only the sale of these kits but also providing diagnostic services to over 1,000 hospitals and research institutions. Significant milestones included gaining US FDA clearance for the GynPad in 2023, after its subsidiary BL Science took over, and obtaining a US patent for the device in 2020. The company also developed and exported COVID-19 diagnostic kits, signing a notable export contract with Indonesia in 2020.
Financially, TCM Biosciences was a funded company, securing investment from at least one institutional investor, EastBridge Partners. It also benefited from being the first company selected for a technology value evaluation investment fund in Korea, which resulted in a 5 billion KRW investment. Despite these achievements, including numerous certifications like ISO 9001, ISO 13485, and GMP, and a strategic decision in 2019 to move from the CONEX to the KOSDAQ market, the company is now reported as deadpooled.
Keywords: molecular diagnostics, in-vitro diagnostics, PCR technology, South Korea biotech, Seongnam-si startup, EastBridge Partners, BL Science, GynPad, HPV self-sampling, cervical cancer screening, diagnostic reagents, medical device manufacturing, COVID-19 diagnostic kit, US FDA clearance, genetic testing institute, CONEX, KOSDAQ, point of care testing, liquid-based cytology, women's health diagnostics