Vietnam-based biotechnology firm Gene Solutions aims to raise $100 million through a pre-IPO round and a potential public listing as early as 2026, the company said on Nov. 19. The move comes as demand for genetic diagnostics continues to rise across Asia and regional IPO markets show renewed activity.
The company plans to secure up to $50 million in a pre-IPO raise, followed by another $50 million at the time of listing. Chief Financial Officer Keng Hsu said the firm is evaluating Hong Kong and Singapore as potential listing venues, both of which have attracted biotechnology issuers with supportive regulatory frameworks.
Hsu said China International Capital Corp is serving as adviser for the upcoming funding round. The firm did not respond to a request for comment.
Considering Dual Listing
Mekong Capital, a Vietnam-focused private equity firm and Gene Solutions’ lead investor, said the company is also open to a dual listing on both Hong Kong and Singapore exchanges. Founder and managing partner Chris Freund said the company may combine the pre-IPO and IPO fundraises depending on market conditions.
Freund said Gene Solutions is already profitable in Vietnam. He added that new capital would support expansion into additional Asian markets, where demand for prenatal testing, early cancer detection, and advanced genetic screening continues to grow.
Gene Solutions uses Next-Generation Sequencing and artificial intelligence in its prenatal and oncology screening products. The company has positioned itself to benefit from increasing adoption of early diagnostic technologies in Southeast Asia.
Mekong Capital first invested $15 million into Gene Solutions in 2021 through its $246 million Mekong Enterprise Fund IV. The firm later contributed $21 million in a Series B round in 2023 as Gene Solutions scaled its operations.
Growth in Regional Biotech Listings
Biotechnology listings in Hong Kong and Singapore have strengthened over the past year, offering companies broader access to capital and visibility in international markets. Both exchanges have rolled out policies designed to attract early-stage and research-driven enterprises.
Freund pointed to Singapore-based MiRXES as a comparable peer. MiRXES, which develops miRNA-based diagnostic tools for early disease detection, listed in Hong Kong earlier this year and is pursuing a secondary listing in Singapore. It reached a market capitalization of HK$16.4 billion and reported $21.34 million in revenue over the past year. Freund said MiRXES remains smaller than Gene Solutions but reflects rising investor interest in the sector.
Gene Solutions has not disclosed its current valuation.
Rebound in Asia’s IPO Market
Asia’s broader IPO market has shown significant recovery in 2025. Hong Kong raised $23 billion in the first nine months of the year, an increase of 226% from the same period a year earlier, according to a report by consulting firm Ernst & Young. Analysts have attributed the rebound to regulatory reforms and growing interest in dual listings that allow companies to tap multiple investor pools.
The resurgence has encouraged more biotechnology and healthcare companies to revisit listing plans that were previously delayed during slower market cycles. Market participants expect the trend to continue into 2026 if economic conditions remain stable.
Expanding Genetic Testing Sector
Demand for genetic testing across Asia continues to build as countries increase investment in early cancer detection, precision medicine, and maternal health. Advances in sequencing technology and reduced testing costs have accelerated adoption among hospitals, clinics, and patients.
Gene Solutions aims to use its planned fundraising to extend its services into more Asian markets beyond Vietnam. The company has expanded its portfolio in recent years to include new diagnostic offerings and partnerships with regional healthcare providers.
As it considers Gene Solutions pre-IPO 2026 listing, Gene Solutions will monitor market performance in Hong Kong and Singapore, both of which have become important hubs for biotechnology financing. The company’s focus on prenatal and oncology diagnostics positions it to capture a share of the region’s rapidly developing medical technology landscape.
