Biotech firm Hangzhou Diagens Biotechnology is banking on AI-powered chromosome testing to drive profit growth following its Hong Kong listing, as China’s falling fertility rate spurs demand for assisted reproduction.
“In China, many young people do not want to marry or have children, and by the time they decide to start a family, they need medical help to do so,” Diagens’ founder and executive director, Song Ning, said.
“We are meeting an increasing number of couples every year who struggle to conceive and have to turn to in vitro fertilisation (IVF). Chromosome tests are a mandatory step in that process.”
Song said it was a market with “enormous growth potential”.
Diagens, which shares commenced trading on the local exchange on Monday, opened at HK$219, before retreating to HK$195 at 9.55am, up 97 per cent from its offer price of HK$99.
“Our technological strength will help more patients combat the unknown territories of their diseases,” Song said before trading opened. “The Hong Kong listing marks a restart of Diagens’ efforts to scale new heights in medical science.”
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