BioNote

What BioNote does

BioNote is a South Korea-based veterinary diagnostics company founded in 2003 that develops, manufactures, and distributes quantitative point-of-care diagnostic analyzers and biomarker test kits for the global animal health market. The company's core product portfolio centers on the Vcheck platform, which includes the Vcheck F series (Europium-based fluorescent immunodiagnostic analyzers capable of quantitatively measuring 30+ biomarkers) and the Vcheck M10 (an integrated point-of-care PCR molecular diagnostic device that compresses result turnaround from 1-3 days to 30-60 minutes). Supporting consumables include rapid antigen kits (notably USDA-approved Rapid CHW Ag 2.0 for canine heartworm), ELISA products, multiplex PCR cartridges (FIV/FeLV, Canine Diarrhea 8 Panel, Feline Diarrhea 8 Panel, Ehrlichia/Anaplasma), and vaccines—all built on BioNote's proprietary gene recombination antigen manufacturing technology and BL-3 biosafety-level research facilities, enabling vertical integration from raw biological materials through finished products.

The company operates a dual-channel go-to-market model: direct subsidiaries (BioNote USA and BioNote China) serve the two largest veterinary diagnostic markets globally, while authorized distributors (BioLine and ProChelKorea) handle domestic Korean sales and a 160-partner international network covers 90+ countries. Revenue is generated through one-time equipment sales of the analyzers and recurring consumable revenue from cartridges and test kits across companion animal (primary segment, dogs and cats) and production/livestock animal markets. The company went public on KOSPI in December 2022 at a market capitalization exceeding 1 trillion KRW, became the first animal diagnostic device company to win Korea's $300M Export Tower, and achieved 1,500% export revenue growth in a prior-year comparison that contributed to CEO Jo Byung-ki's Order of Industrial Merit Bronze Tower award in 2023. BioNote is also diversifying via a 27% equity stake in SautNeer BioScience (31 billion KRW invested) to co-develop antibody drug pipelines including a HER2 low-expression breast cancer candidate.

Name

BioNote

Legal name

주식회사 바이오노트 (BIONOTE Co., Ltd.)

Website

https://bionote.co.kr

Company type

Public

Founded year

2003

Operating status

Operating

Headcount range

11–50 employees

Short description

BioNote is a South Korea-based veterinary diagnostics company founded in 2003 that develops quantitative point-of-care analyzers (Vcheck F, Vcheck M10) and biomarker test kits for veterinary clinics in 90+ countries, with direct subsidiaries in the US and China.

Ownership category

akta.pro rank

Product category

Veterinary Diagnostics

NAICS

Analytical Laboratory Instrument Manufacturing (334516)

SIC

In Vitro & In Vivo Diagnostic Substances (2835), Surgical & Medical Instruments & Apparatus (3841), Laboratory Analytical Instruments (3826)

akta.pro primary industry

Laboratory & Point-of-Care Diagnostic Devices (Analyzers, Test Kits, Microscopy) (HLAMAFAI)

akta.pro secondary industries

Point-of-Care & In-Clinic Diagnostics (Rapid Tests, Benchtop Analyzers) (HLAMADAI), Reference Laboratory Testing (Clinical Pathology & Chemistry) (HLAMADAA), Veterinary Diagnostic Laboratories & Pathology (AFAEANAF)

Keywords

• Veterinary diagnostic equipment
• Point-of-care testing
• Fluorescent immunoassay kits
• Molecular diagnostics cartridges
• Animal health biomarkers

Headquarters

HQ city

Gyeongju

HQ country

South Korea

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Personnel, Technology or R&D, Operations, Marketing or Sales

Revenue model

1. Veterinary Diagnostic Kits (Rapid, ELISA): Sale of rapid immunodiagnostic test kits and ELISA products for point-of-care animal health diagnostics
2. Diagnostic Equipment (Vcheck F, M10): Sale and distribution of diagnostic equipment including fluorescent immunodiagnostic analyzers (Vcheck F series) and molecular diagnostic devices (Vcheck M10)
3. Molecular Diagnostic Cartridges: Sale of cartridge products for Vcheck M10 molecular diagnostics including FIV/FeLV, Canine Vector 8 Panel, Diarrhea panels
4. Bio-Content / Vaccines: Bio-content products and vaccine development for animal health applications

Go-to-market motion1 record

Distribution channels5 records

Marketing channels6 records

Core offering

BioNote manufactures and sells point-of-care veterinary diagnostic analyzers and biomarker test kits under the Vcheck brand. Its core hardware platforms are the Vcheck F series (Europium-based fluorescence immunoassay analyzers enabling quantitative measurement of 30+ markers) and the Vcheck M10 (an integrated nucleic acid extraction and PCR device returning molecular results in 30–60 minutes), sold alongside consumable test kits, ELISA assays, rapid immunodiagnostics, and animal vaccines to veterinary clinics, hospitals, and laboratories worldwide.

Product overview

BioNote is a veterinary diagnostics company offering a comprehensive portfolio of diagnostic solutions under the Vcheck brand. The core product line includes Vcheck F (fluorescence immunoassay analyzer using Europium technology for quantitative measurement of 30+ biomarkers), Vcheck M (automated point-of-care molecular diagnostics integrating nucleic acid extraction and PCR), and related rapid immunodiagnostic tests, ELISA products, and vaccines. The product ecosystem centers on the Vcheck analyzer platforms, with specialized diagnostic cartridges and test kits covering cardiac markers (NT-proBNP, TnI, D-dimer), kidney function (SDMA), pancreatic health (cPL), thyroid function (T4), inflammation (SAA), and infectious diseases (FIV/FeLV, Vector, Diarrhea panels). BioNote develops its own raw biological materials including recombinant antigens, leveraging proprietary antigen manufacturing technology.

Differentiator

Problem solved

Functional benefit

Products and services

• Vcheck F (Fluorescence Immunoassay Analyzer) Core hardware platform: Europium-based fluorescence immunoassay analyzer enabling real-time quantitative measurement of more than 30 veterinary diagnostic markers for companion animal point-of-care testing in clinics and hospitals.
• Vcheck M / Vcheck M10 (Molecular Diagnostic System) Integrated point-of-care molecular diagnostic device that combines nucleic acid extraction and PCR amplification into one automated benchtop unit, allowing general-practice veterinarians to perform PCR testing in-house without specialized training; supports 8-channel expansion for various cartridge panels.
• Vcheck D-dimer Quantitative fluorescence immunoassay test measuring D-dimer in canine plasma for diagnosis of blood coagulation disorders, thrombosis, and disseminated intravascular coagulation (DIC); available in 5-test and 10-test kit formats.
• Vcheck SDMA / SDMA 2.0 Symmetric dimethylarginine (SDMA) quantitative biomarker test for early detection of kidney function decline in dogs and cats; detects renal impairment at approximately 40% function loss versus 75% with creatinine, with 93% staging agreement with reference lab results per IRIS guidelines.
• Vcheck cPL / cPL 2.0 Canine pancreatic lipase (cPL) point-of-care fluorescence immunoassay test for diagnosis and monitoring of pancreatitis in dogs.
• Vcheck T4 Quantitative total thyroxine (TT4) test for feline thyroid function assessment and diagnosis of hyperthyroidism in cats.
• Vcheck Canine NT-proBNP N-terminal pro-B-type natriuretic peptide quantitative test for canine cardiac biomarker assessment.
• Vcheck Feline NT-proBNP N-terminal pro-B-type natriuretic peptide quantitative test for feline cardiac biomarker assessment and hypertrophic cardiomyopathy (HCM) screening.
• Vcheck Feline TnI Feline cardiac troponin I quantitative test for detecting myocardial damage and screening hypertrophic cardiomyopathy (HCM) in cats.
• Vcheck Feline SAA 3.0 Feline serum amyloid A (SAA) quantitative test with improved sensitivity for inflammation diagnosis and monitoring in cats, including FIP and acute viral infections.
• Rapid CHW Ag 2.0 Rapid antigen detection kit for canine heartworm (Dirofilaria immitis) with USDA sales approval; detects as few as 1–5 female adult heartworms with results in 10 minutes, demonstrating 100% sensitivity and specificity in University of Florida validation.
• Vcheck M FIV/FeLV Molecular diagnostic cartridge for Vcheck M10 detecting feline immunodeficiency virus (FIV) and feline leukemia virus (FeLV) using PCR technology.
• Vcheck M Canine Diarrhea 8 Panel / Feline Diarrhea 8 Panel Multiplex PCR cartridges for Vcheck M10 detecting 8 canine or 8 feline diarrhea-causing pathogens respectively, for veterinary molecular point-of-care use.
• Vcheck M Ehrlichia/Anaplasma Molecular diagnostic cartridge for Vcheck M10 detecting Ehrlichia and Anaplasma pathogens.
• Rapid Diagnostic Kits (Rapid) Rapid immunodiagnostic test kits for on-site detection of infectious diseases in animals, including parvovirus and babesia screening kits.
• ELISA Diagnostic Products Enzyme-linked immunosorbent assay (ELISA) diagnostic products for veterinary applications, expanding the company's diagnostic menu beyond fluorescence and molecular assays.
• Animal Vaccines Animal vaccines developed using proprietary raw biological materials and recombinant antigen manufacturing technology, covering BioNote's bio-content business beyond diagnostics.

Quantifiable outcome

• Vcheck SDMA showed 93% staging agreement with reference lab results per IRIS guidelines, highest accuracy among POC SDMA analyzers
• +4 more outcomes

Named customers3 records

Segments2 records

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature8 records

Partnerships

Five partnerships are on record, tiered core, primary and minor.

• Sautneur BioScience (상트네어바이오사이언스)coreStrategic or Co-development Partner · 8 February 2023BioNote invested 31 billion KRW total (10 billion initial + 21 billion follow-on investment) in Sautneur BioScience, increasing equity stake from 9.09% to 27%. Partnership aims to jointly develop antibody drug pipelines including CTN001 for HER2 low-expression breast cancer. BioNote provides antigen/antibody technology while Sautneur contributes antibody platform technology. Samsung Biologics contracted for clinical sample production process development.
• BioLine (바이오라인)primaryChannel Partner/ Reseller/ DistributorOfficial Korean distributor for BioNote veterinary diagnostic products including Vcheck equipment and test kits. Primary distribution partner for domestic Korea market.
• ProChelKorea (프로챌코리아)primaryChannel Partner/ Reseller/ DistributorOfficial Korean distributor for BioNote veterinary diagnostic products. Secondary distribution partner for domestic Korea market alongside BioLine.
• Veterinarians Without Borders Korea (국경없는수의사회)minorStrategic or Co-development PartnerBioNote has supported Veterinarians Without Borders since 2021 with product donations for overseas animal medical volunteer activities. Donated rapid diagnostic kits for 2,000+ animal examinations during Laos mission. Received appreciation plaque for employee volunteer participation in domestic medical services in 2022.
• SYNLAB VetcoreStrategic or Co-development PartnerSYNLAB Vet was acquired by Mars Incorporated to enhance veterinary diagnostics capabilities in Europe. BioNote identified as a key competitor in the veterinary rapid test market alongside major players including Thermo Fisher Scientific, Zoetis, and Mars Inc.

Scale indicators5 records

Recent moves7 records

Expansion highlights7 records

Direct peers

• IDEXX Laboratories: Global market leader in companion animal diagnostics, offering in-clinic analyzers (Catalyst, ProCyte), reference lab services, and rapid test kits. Directly comparable to BioNote's Vcheck POC franchise and competes in the same veterinary clinics with quantitative biomarker offerings.
• Zoetis: One of the largest animal health companies globally, with a diagnostics division covering reference labs (Vetscan) and rapid tests. Named as a direct competitor in BioNote's partnership data; comparable product breadth and overlapping customer base of veterinary clinics.
• Heska (Antech Diagnostics): Specialty veterinary diagnostics company acquired by Antech (Mars Petcare), offering in-clinic chemistry, hematology, and immunoassay analyzers alongside rapid test kits. Direct competitor in the POC quantitative diagnostics segment serving companion animal practices.
• Virbac: Global animal health company offering a broad portfolio of veterinary diagnostics, vaccines, and pharmaceuticals. Comparable in product mix (diagnostics + vaccines) and international distribution reach, competing with BioNote in companion animal clinics globally.
• Neogen Corporation: Animal safety and diagnostics company offering genomic services, rapid test kits, and molecular diagnostics for food and animal health. Overlaps with BioNote's molecular diagnostics and rapid test offerings in veterinary and food safety testing.

Broad incumbents

• Thermo Fisher Scientific: Named in BioNote's data as a direct competitor in veterinary rapid tests. While not exclusively focused on animal health, Thermo Fisher's diagnostics platform serves veterinary reference labs and research customers with overlapping reagent and instrument technology.
• Mars Petcare (Mars Inc.): Acquired SYNLAB Vet to enhance veterinary diagnostics capabilities in Europe. As the parent of Antech Diagnostics and Heska, Mars Petcare is a major veterinary diagnostics consolidator competing with BioNote across geographies and channels.
• Abaxis (Zoetis): Veterinary point-of-care chemistry and hematology analyzer maker, now part of Zoetis. Directly comparable in-clinic diagnostic platform technology to BioNote's Vcheck F analyzer for veterinary practices.

Emerging players

• EUROIMMUN (PerkinElmer): Diagnostic kit manufacturer with strong veterinary immunology portfolio. Overlaps with BioNote's ELISA and immunodiagnostic kits, particularly in specialty infectious disease and autoimmune testing for animals.
• Randox Laboratories: Diagnostics manufacturer offering clinical chemistry analyzers and immunoassay platforms with veterinary applications. Comparable technology overlap with BioNote's fluorescence immunoassay and ELISA product lines.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@BionoteInternational
• LinkedInlinkedin.com/in/bionote-inc-438206272
• Instagraminstagram.com/bionote.inc
• Xx.com/bionoteapp

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about BioNote