What BioSquare does

BioSquare is a South Korean biotechnology company founded in 2017 that develops and commercializes quantum dot-based in vitro diagnostic (IVD) devices. The company's core technology, QuantumPACK™, consists of silica-packaged semiconductor nanoparticles (Core@Shell nanostructures) that produce highly sensitive, stable, hydrophilic fluorescent signals capable of multiplex detection under a single excitation wavelength. This platform is sold as an integrated solution comprising proprietary fluorescence immunoassay analyzers (QDITS Mini, Smart, Basic, Pro, and ALFS) and a menu of consumable diagnostic assays for infectious disease (influenza, COVID-19, RSV, strep A, mycoplasma), sepsis/inflammatory markers (PCT, CRP), thyroid function (TSH, Free T4, T3), and high-value multiplex panels for Alzheimer's disease and cardiac biomarkers. A secondary NanoPACK platform provides lower-cost lateral flow antigen tests including an over-the-counter COVID-19 home test and an HIV 1/2 Ab rapid test.

BioSquare generates revenue through a razor-and-razorblade model: one-time hardware sales of QDITS analyzers and recurring sales of disposable QuantumPACK and NanoPACK test cartridges (e.g., 25 tests/kit configurations). Pricing is not publicly disclosed, but the GTM motion is enterprise field sales directed at hospitals, emergency rooms, airports, public health centers, and small-to-medium hospitals. Distribution channels include direct B2B sales in Korea, the CapitalBio Group joint venture in China (leveraging 400+ distribution points), and ODA/government channels via KOICA and CDT Africa for developing countries in East Africa. The company holds exclusive patent licenses from Seoul National University for foundational QuantumPACK patents and has registered 16+ improvement patents across Korea, the US, Japan, China, and 9 European countries. Regulatory clearances include Korea MFDS Class 3 manufacturing approvals (2022-2023), ISO 13485:2016, CE IVDR/IVDD, and an FDA registration for QuantumPACK Easy Strep A in October 2025. BioSquare has raised approximately 9.5 billion KRW (USD ~7M) across seed, pre-Series A, and Series A rounds from Korean institutional investors including LSK Investment, BNH Investment, SBI Investment, IBK Capital, and Kiwoom Investment; Series B funding is under consideration.

Name

BioSquare

Legal name

주식회사 바이오스퀘어

Website

https://bio-square.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

11–50 employees

Short description

BioSquare is a Korean biotechnology company founded in 2017 that develops quantum dot-based in vitro diagnostic devices and consumable assays for point-of-care infectious disease, cardiac, neurological, and inflammatory testing in hospitals, airports, and developing-country healthcare settings.

Ownership category

akta.pro rank

Headquarters

HQ city

Seongnam

HQ country

South Korea

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Revenue model

1. QuantumPACK™ Diagnostic Reagents: Sale of in vitro diagnostic rapid test devices including Influenza A+B, COVID-19 Ag, RSV, Strep A and other infectious disease tests for use with QDITS™ analyzers.
2. QDITS™ Analyzers: Sale of diagnostic instruments (QDITS™ Mini, Smart, Basic, Pro, ALFS) that read and analyze QuantumPACK™ and NanoPACK™ test cartridges.
3. QuantumPACK™ Materials and Equipment: Supply of QuantumPACK fluorescent materials and dedicated analysis equipment QDITS to enterprise customers for technology export purposes.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels3 records

Core offering

No source content was provided for this extraction; core offerings cannot be determined from the supplied data.

Product overview

BioSquare provides an integrated in vitro diagnostic (IVD) solution platform based on QuantumPACK technology, a quantum dot-based fluorescence immunoassay system. The portfolio consists of three main platform lines: (1) QuantumPACK Easy - lateral flow assay-based rapid tests including respiratory panels (Influenza A+B, COVID-19, RSV, Strep A), infection markers (PCT, CRP, Mycoplasma), and thyroid markers (TSH, Free T4, T3); (2) QuantumPACK Pro - high-sensitivity multiplex assays for Alzheimer's (Beta-Amyloid 40/42, Phospho-Tau 181/217, ApoE4/GFAP) and cardiac panels (Troponin/CK-MB/Myo); (3) NanoPACK - lateral flow rapid antigen tests including COVID-19 (professional and home use), HIV, Influenza A+B, and home pregnancy/ovulation tests. These assay products are run on the QDITS analyzer family (ALFS, Basic, Smart, Mini) which use fluorescence immunoassay technology for signal detection and analysis. The platform enables high-sensitivity, high-precision, and multiplex diagnostics from central laboratories to point-of-care settings.

Differentiator

Problem solved

Functional benefit

Brands

• QuantumPACK™: Core quantum dot-based IVD platform technology for fluorescence immunoassay diagnostics, enabling high sensitivity, high precision, and multiplex detection.
• NanoPACK™
• QDITS™
• QuantumPACK™ Easy
• QuantumPACK™ Pro

Quantifiable outcome

• 99.12% overall accuracy in clinical trials (vs real-time PCR) for Influenza A+B detection
• +1 more outcomes

Segments3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Nine partnerships are on record, tiered core, minor and major.

• Institut Pasteur KoreacoreStrategic or Co-development Partner · 1 January 2020Collaborative R&D partnership for Leishmaniasis diagnostics. Institut Pasteur Korea provides rK39/K26 chimeric antigen for enhanced sensitivity. BioSquare was housed at Institut Pasteur Korea Pangyo campus as part of Bio Core Facility program.
• CDT Africa (Center for Innovative Drug Development and Therapeutic Trials for Africa)coreStrategic or Co-development Partner · 1 January 2020Partnership with World Bank-affiliated organization for Leishmaniasis diagnostics development in East Africa. CDT Africa provides clinical specimens from Leishmaniasis patients in East Africa for product development and validation.
• DNDi (Drugs for Neglected Diseases initiative)coreStrategic or Co-development Partner · 1 January 2020Collaboration for neglected tropical disease diagnostics. DNDi provides advisory support on product development aligned with current Leishmaniasis standard diagnostic and treatment methods to maximize field applicability.
• OptiBiominorStrategic or Co-development Partner · 1 January 2020Partner in Leishmaniasis diagnostic development project, participating in product development and certification processes.
• RIGHT FundcoreStrategic or Co-development Partner · 1 January 2020Selected for RIGHT Fund major project for Leishmaniasis point-of-care diagnostic platform development. RIGHT Fund is co-founded by Korean Ministry of Health and Welfare, Bill & Melinda Gates Foundation, and 8 Korean life science companies (SK Bioscience, LG Chem, GC Pharma, Chong Kun Dang, Genexine, GeneOne, Y-Biologics, SD Biosensor).
• CapitalBio Group (Tsinghua Holdings subsidiary)majorStrategic or Co-development Partner · 1 January 2018Joint venture agreement signed with CapitalBio Group, a subsidiary of Tsinghua Holdings (China's Tsinghua University technology holding company). CapitalBio has over 400 sales networks across China. The JV aims to establish local production and sales presence in China.
• KOICAminorStrategic or Co-development Partner · 1 January 2018Selected for KOICA Creative Technology Solution (CTS) program for developing country problem-solving initiatives in low and lower-middle income countries.
• Konkuk UniversityminorStrategic or Co-development Partner · 1 January 2018Academic-industry collaboration through LINC+ program for multi-quantum dot diagnostic kit commercialization research. Professor Jeon Bong-hyun led research on high-efficiency quantum dot nanostructure development.
• Seoul National UniversitycoreTechnology or Integration · 1 January 2017BioSquare acquired exclusive patent licenses for QuantumPACK technology (KR1651798, KR1609618) from Seoul National University Professor Lee Yoon-sik, who developed the core quantum dot packaging technology. This forms the foundation of BioSquare's proprietary diagnostic platform.

Scale indicators7 records

Recent moves7 records

Expansion highlights6 records

Emerging players

• QIAGEN: Molecular diagnostics and sample-prep company expanding into decentralized testing (QIAstat-Dx). Less direct overlap than Abbott/BD but competes in the broader move from central lab to POCT molecular and immunoassay testing.
• Hologic: Panther molecular system and rapid antigen products overlap with BioSquare's infectious disease and women's health diagnostics portfolio. Comparable mid-cap specialty diagnostics profile with focus on decentralization of testing.
• Sekisui Diagnostics: Mid-size diagnostics company with rapid test systems and chemistry/immunoassay products. Overlaps in POC infectious disease testing and serves similar hospital/clinic customer base as BioSquare.
• NanoDx: Emerging diagnostics company exploring nanosensor and novel biomarker detection technologies. Less established but competes at the technology-platform level in novel immunoassay approaches.

Broad incumbents

• BioFire Diagnostics (bioMérieux): FilmArray multiplex PCR system competes in syndromic infectious disease testing and broader decentralized molecular diagnostics. Representative incumbent in the move to multiplex POC testing that QuantumPACK Pro is also targeting.
• Becton Dickinson (BD): BD Veritor System is a direct competitor in hospital and POC rapid immunoassay testing (Flu, RSV, Strep A, COVID-19). BD's scale, distribution, and hospital relationships make it a primary competitive threat in BioSquare's core segments.
• Cepheid (Danaher): GeneXpert molecular POCT system competes in the broader decentralized infectious disease testing market BioSquare targets. While Cepheid is molecular PCR-based (different modality), it competes for the same clinical decision points.
• Abbott Diagnostics: Global diagnostics leader with Binax (lateral flow) and ID NOW (molecular POCT) product lines directly competing in the same respiratory, Strep A, and infectious disease rapid testing categories as BioSquare, with vastly greater sales reach and clinical evidence budget.

Direct peers

• SD Biosensor: Korean-headquartered IVD company specializing in rapid diagnostic test kits and analyzers, with a directly overlapping respiratory infectious disease product line (Flu, COVID-19, RSV) and similar lateral flow + fluorescence immunoassay platform approach. SD Biosensor is the most direct Korean peer and serves the same hospital/clinical POC market.
• QuidelOrtho: US-based POCT specialist (Sofia platform for Flu, COVID-19, RSV, Strep A) with similar rapid immunoassay analyzer + cartridge business model targeting hospitals, urgent care, and physician offices. Closest US analog to BioSquare's QDITS + QuantumPACK Easy product system.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance34 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries1 record

Funding overview

Funding rounds3 records

Investors5 records

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

M&A

Investments

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

Frequently asked questions about BioSquare