Congratulations to Mirxes on its successful listing on the Hong Kong Stock Exchange's Main Board — Gaorong Ventures was its earliest institutional investor.

On May 23, Mirxes (stock code: 02629.HK) officially listed on the Main Board of the Hong Kong Stock Exchange, with an IPO price of HK$23.30 per share. As of 09:50, Mirxes was trading at HK$30.55 per share. Dr. Lihan Zhou, co-founder and CEO of Mirxes, and Dr. Ruiyang Zou, co-founder and CTO, rang the opening bell together.

Gaorong Ventures invested in Mirxes in 2018, becoming the company's earliest institutional shareholder and a long-term partner in its growth.

Professor TOO Heng Phon, co-founder and Chairman of Mirxes, said at the listing ceremony, "This moment is the culmination of years of innovation, resilience, and dedication by the entire Mirxes team. We are grateful for the tremendous support from our shareholders, partners, and colleagues. It is an honor to join the HKEX family and connect with global capital markets. Today marks an important step toward our vision of advancing precision medicine worldwide through scientific research and mission-driven work."

Building a Global Leading miRNA Technology Platform

Mirxes is a microRNA (miRNA) technology company dedicated to making disease screening and diagnostic solutions accessible in key Asian markets, including Singapore and China. Founded in 2014 and headquartered in Singapore with its China headquarters in Anji, Zhejiang, Mirxes was co-founded by Professor TOO Heng Phon, Lihan Zhou, and Ruiyang Zou — three mentors and students from the National University of Singapore.

With its advanced miRNA technology platform and scaled early-screening products, Mirxes has built strong competitive moats, laying a solid foundation for continued development and innovation in cancer early detection.

According to Frost & Sullivan, Mirxes is a pioneer and leader in developing and commercializing precise, non-invasive, affordable, blood-based miRNA test kits for early detection of cancer and other diseases. It is also one of the few companies globally with regulatory-approved molecular cancer early-screening diagnostic products.

World's First Approved Blood-Based Molecular Diagnostic Test for Gastric Cancer Early Screening

As of May 7, 2025, Mirxes has one core product (GASTROClear™), two other commercialized products (LUNGClear™ and Fortitude™), and six pipeline candidates in preclinical stages. The company's core product, GASTROClear™, is a blood-based miRNA panel of 12 miRNA biomarkers for gastric cancer screening.

GASTROClear™ is the world's first approved blood-based molecular diagnostic test for gastric cancer early screening. It has already been approved and put into use in Singapore, Thailand, and other Southeast Asian countries. Additionally, the product received CE marking in the EU in 2017 and FDA Breakthrough Device Designation in the US in 2023. In 2023, Mirxes completed a registration clinical trial in China with 9,472 subjects, demonstrating strong test performance, and has submitted for registration with China's National Medical Products Administration (NMPA). Upon approval, it is expected to drive robust growth in the Chinese market. Large-scale global clinical trials and regulatory certifications provide strong assurance for Mirxes' future product promotion and technology application on a broader scale.

Increasing R&D Investment, Expanding Global Markets

As a biotech company, Mirxes has always prioritized product R&D and will continue to increase investment in research, development, and commercialization to further strengthen the market competitiveness of its core business. At the same time, the company will continue optimizing cost control and improving operational efficiency to achieve more sustainable development.

Notably, Mirxes has established end-to-end capabilities spanning research and discovery, clinical trials, manufacturing, and commercialization, with global presence and operational infrastructure across Southeast Asia, China, Japan, and the US. It has maintained strong growth in developed markets such as Singapore and the US. This Hong Kong listing further underscores the company's leading position and technological advantages in the global miRNA field.

Extending Lives Through Technology

Beilin Le, Managing Director at Gaorong Ventures, said, "Congratulations to the Mirxes team on their successful HKEX listing! Over seven years of investing in and partnering with Mirxes, we have witnessed the company achieve two major leaps. First, bringing miRNA small nucleic acid technology from the lab to industrialization, transforming tumor early screening based on small nucleic acid technology from a scientific concept into mature commercial products. More importantly, with Asia at its heart and global ambitions, Mirxes has successfully expanded across different regional markets to become a truly global enterprise. We sincerely wish the company and team, at this new starting point, to continue exploring the vast applications of small nucleic acids and launching more tumor early-screening products — extending lives through technology."

From left to right: Dr. Lihan Zhou, Dr. Ruiyang Zou, Professor TOO Heng Phon, Dr. Beilin Le

Dr. Lihan Zhou said, "Gaorong Ventures was Mirxes' earliest institutional shareholder. We are delighted to have such an investment firm accompany us on our long-term growth journey. Gaorong's deep understanding of frontier medical technologies and its unwavering support for portfolio companies have been truly inspiring."

Dr. Lihan Zhou presenting at Gaorong Healthcare Demo Day

Gaorong Ventures continues to invest in the healthcare sector, backing outstanding companies in digital health, medical services, new drug R&D, medical devices, and diagnostics, including Waterdrop Inc. (NYSE: WDH), Ping An Good Doctor (01833.HK), ProfoundBio (acquired by Genmab), Mirxes (02629.HK), United Family Healthcare, Saint Bella, Biointron, and others.