Anbio Biotechnology IPO Fuels In Vitro Diagnostics Innovation

Anbio Biotechnology marked a milestone on February 20, 2025, by successfully closing its initial public offering (IPO). The company sold 1,600,000 Class A ordinary shares at a public offering price of $5.00 per share, raising aggregate gross proceeds of $8 million.

Trading commenced on Nasdaq under the ticker “NNNN” just a day before the official closing. The capital raised will boost the company’s expansion of its sales and distribution network, support R&D and enhance overall working capital.

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Founded in 2021 and expanding its global presence through subsidiaries in the Cayman Islands, British Virgin Islands, Hong Kong, Australia and other regions, Anbio Biotechnology has quickly become a name to watch in the diagnostics arena.

Anbio offers an extensive portfolio of in vitro diagnostics (IVD) products — tests performed outside the human body — to address diverse diagnostic needs. Its solutions cater to over-the-counter use, point-of-care settings and laboratory applications, ensuring that both healthcare providers and patients can access fast and reliable diagnostic tools.

Last month, Anbio unveiled its Dry Chemiluminescence Immunoassay (CLIA) Solution ADL-1000, specifically engineered for the rapid detection and quantification of biomarkers in clinical samples. Designed for both laboratory and point-of-care settings, the CLIA solution aims to reduce sample handling and turnaround time.

Anbio’s product range is designed to detect biomarkers associated with critical health conditions such as infectious diseases, cancer, cardiovascular diseases, inflammation, drug abuse, endocrine disorders, renal disease, pharmacogenomics and diabetes.

Notably, the company’s rapid test kit for detecting SARS-CoV-2 and influenza antigens, based on lateral flow immunoassay technology, has been a key revenue driver, accounting for a significant portion of its sales in previous fiscal periods. This focus on respiratory disease diagnostics has provided a strong foundation as the global landscape transitions from a pandemic to an endemic phase.

In addition to its current product lineup — which is already CE marked under the In Vitro Diagnostic Directive and ready for commercialization — Anbio is proactively preparing for future regulatory milestones. The company is gathering documentation for registration under the In Vitro Diagnostic Regulation, anticipating approvals for various device classes by the end of the 2020s.

Industry forecasts reinforce the timeliness of Anbio’s strategic direction. The point-of-care diagnostics market is expected to hit $22.63 billion by 2029, while the IVD assay development market is anticipated to be worth $8.39 billion by 2031.

Anbio enters a thriving IVD market alongside industry giants. Hologic recently received FDA clearance for its Aptima SARS-CoV-2 assay, while Revvity’s collaboration with Element Biosciences advances neonatal sequencing-based diagnostics in the US.

Meanwhile, major industry player bioMérieux has been on a roll with its new Molecular and Genomic Innovation Center in Philadelphia and recent acquisition of SpinChip Immunoassay — fortifying its point-of-care presence and pushing the envelope in the IVD sector.