Gene Solutions, a biotechnology company founded in Vietnam, is preparing to raise up to $100 million as it positions itself for a potential public listing in 2026. The company plans to combine a pre-IPO round with proceeds from an initial share sale in a regional financial hub. Its fundraising push comes as investor appetite returns to Asia’s capital markets and demand for advanced genetic diagnostics continues to rise.
Pre-IPO Strategy
Gene Solutions intends to raise $50 million through a pre-IPO round and another $50 million at the planned listing. The company is weighing Singapore and Hong Kong as possible venues, and it is also open to a dual listing to broaden investor access. China International Capital Corp is advising on the pre-IPO process, supporting the firm as it prepares for an increasingly competitive listing environment.
Diagnostic Focus and Technology
The biotech firm focuses on prenatal and cancer screening services that use Next-Generation Sequencing combined with AI-driven analysis. Its solutions support early disease detection, a growing priority across Asian healthcare systems. Gene Solutions has already reached profitability in Vietnam, giving it a strong base for regional expansion.
Growth and Expansion Plans
Chief Financial Officer Keng Hsu said the new capital will primarily accelerate growth in Asian markets outside Vietnam. The company sees rising demand for genetic testing across the region as healthcare providers prioritize early detection and personalized medicine. Funding will support market entry, regulatory approvals, and development of diagnostic offerings tailored to each country.
Investor Backing
Mekong Capital has been a key investor, first committing $15 million in 2021 through its $246 million Mekong Enterprise Fund IV and adding another $21 million in 2023. Founder and managing partner Chris Freund said the two fundraising tranches could be combined depending on market conditions. He added that Gene Solutions is open to listing in both Singapore and Hong Kong to maximize reach and liquidity.
Market Comparables
Freund pointed to Singapore-based MiRXES, which listed in Hong Kong and is pursuing a secondary listing in Singapore, as a useful peer for valuation context. MiRXES has reached a market capitalization of HK$16.4 billion, equivalent to about $2.11 billion, with revenues of $21.34 million over the past year. He noted that MiRXES is smaller than Gene Solutions, suggesting a potentially higher valuation for the Vietnam-founded company once financial details are disclosed.
Market Conditions
Asia’s IPO markets have rebounded strongly, with Hong Kong raising $23 billion in the first nine months of 2025, a year-on-year increase of 226 percent. Analysts attribute the surge to regulatory reforms and a sharp increase in dual listings that have strengthened investor confidence. This recovery provides a favorable backdrop for Gene Solutions’ listing ambitions and its efforts to scale across the region.
Sector Momentum
Genetic testing is gaining traction across Asia as healthcare systems invest in preventive medicine and early cancer detection. Rising incomes and aging populations are also driving demand for personalized diagnostics. Companies like Gene Solutions are well positioned to benefit from these structural shifts as they scale their technologies to reach more patients.
Gene Solutions’ plan to raise $100 million and pursue a 2026 listing represents a significant step in its evolution into a regional diagnostics leader. Its profitability in Vietnam, support from Mekong Capital, and guidance from China International Capital Corp provide a strong foundation for expansion. A listing in Singapore, Hong Kong, or both would reinforce the region’s growing importance as a hub for biotech financing and innovation.
Source: Reuters