# EDGAR Filing Document

**Accession Number:** 0001941029
**File Stem:** 0000000000-23-002720
**Filing Date:** 2023-3
**Character Count:** 43384
**Document Hash:** 8063c73693bca44147430f6df042b164
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000000000-23-002720.hdr.sgml**: 20250313

**ACCESSION NUMBER**: 0000000000-23-002720

**CONFORMED SUBMISSION TYPE**: UPLOAD

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20230317

**FILED FOR**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Advanced Biomed Inc.
- **CENTRAL INDEX KEY:** 0001941029
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-MEDICAL LABORATORIES [8071]
- **ORGANIZATION NAME:** 08 Industrial Applications and Services
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** NV

**FILING VALUES:**
- **FORM TYPE:** UPLOAD
- **SEC FILE NUMBER:** 377-06478

**BUSINESS ADDRESS:**
- **STREET 1:** 401 RYLAND ST
- **STREET 2:** STE 200-A
- **CITY:** RENO
- **STATE:** NV
- **ZIP:** 89502
- **BUSINESS PHONE:** 86-21-20510823

**MAIL ADDRESS:**
- **STREET 1:** 401 RYLAND ST
- **STREET 2:** STE 200-A
- **CITY:** RENO
- **STATE:** NV
- **ZIP:** 89502
**PUBLIC REFERENCE ACCESSION NUMBER**: 0001575872-22-001187

## Text-Extract

```

United States securities and exchange commission logo

                     March 17, 2023

       Hung To Pau, Ph.D.
       Chief Executive Officer
       Advanced Biomed Inc.
       689-87 Xiaodong Road
       Yongkang District
       Tainan, Taiwan

                                                        Re: Advanced Biomed
Inc.
                                                            Amendment No. 1 to
Draft Registration Statement on Form S-1
                                                            Submitted March 6,
2023
                                                            CIK No. 0001941029

       Dear Hung To Pau:

             We have reviewed your amended draft registration statement and
have the following
       comments. In some of our comments, we may ask you to provide us with
information so we
       may better understand your disclosure.

              Please respond to this letter by providing the requested
information and either submitting
       an amended draft registration statement or publicly filing your
registration statement on
       EDGAR. If you do not believe our comments apply to your facts and
circumstances or do not
       believe an amendment is appropriate, please tell us why in your
response.

             After reviewing the information you provide in response to these
comments and your
       amended draft registration statement or filed registration statement, we
may have additional
       comments.
 Hung To Pau, Ph.D.
FirstName  LastNameHung To Pau, Ph.D.
Advanced Biomed   Inc.
Comapany
March      NameAdvanced Biomed Inc.
       17, 2023
March2 17, 2023 Page 2
Page
FirstName LastName
Amendment No. 1 to Draft Registration Statement on Form S-1 submitted March 6,
2023

Prospectus Summary
Overview, page 9

1.       We note your revisions in response to our prior comment 6 and reissue.
Your
         disclosure on pages 9, 58 and 66 appears to indicate that the testing
completed between
         July 17, 2019 and December 2021 was for your A+Pre, AC-1000 and
A+SCDrop.
         However, you then present the results for A+LCGuard without mentioning
the
         involvement of A+Pre, AC-1000 or A+SCDrop. Please revise to connect
your statements
         about A+Pre, AC-1000 and A+SCDrop to the results of A+LCGuard. We also
note that
         page 75 provides that the 123 case studies took place during the
August 2020     September
         2022 timeframe. Please clarify what developmental tests and studies
were conducted for
         each of your products, specify which products were tested in each of
these studies, and
         when these studies each took place. Please also revise references to
 clinic trials    and
         certain values    obtained through clinical trials    so as to not
draw an inference to clinical
         trials as defined by the FDA and other comparable regulators. Revise
to state explicitly
         that you have not conducted any clinical trials.
2.       We note your revisions in response to our prior comment 7 and reissue
in part. Please
         disclose here the role of single cell targeting in CTC capturing. We
also note your
         statement that you will need to "complete the registration application
and obtain the
         corresponding license in accordance with the local regulations before
engaging in
         commercial activities in the respective regions/countries" and that
you have "applied for
         product registration in China in accordance with relevant Chinese laws
and regulations."
         For each of China, the U.S. and Europe, please disclose the
governmental authority
         holding regulatory jurisdiction over the commercialization of your
products and the
         regulatory requirements you must satisfy to receive licensure or
approval, including the
         steps you have completed and those that remain to be completed. We
note, for example,
         your statements that A+Cellscan chip has completed a "development
plan" and
         "performance study," A+SCDrop samples have been "produced for product
         registration," your CTC identification and counting application is
ready for
         commercialization," your A+LCGuard has completed a "prospective study"
and your
         immunochromogenic kits "are ready to be transformed into
commercialization." Please
         disclose what each of these steps mean in the context of registering
your products for
         licensure or approval. Finally, we note your statement that your
"products and devices
         work together to achieve the designed result." Please clearly state
whether, if approved,
         your products could be sold individually, or whether they are only
designed to work
         together and not with any third-party products.
 Hung To Pau, Ph.D.
FirstName  LastNameHung To Pau, Ph.D.
Advanced Biomed   Inc.
Comapany
March      NameAdvanced Biomed Inc.
       17, 2023
March3 17, 2023 Page 3
Page
FirstName LastName
3.       We note your response to prior comment 12 regarding permissions or
approvals and
         reissue. Disclose each permission or approval that you or your
subsidiaries are required to
         obtain from Chinese authorities to operate your business and to offer
the securities being
         registered to foreign investors. State whether you or your
subsidiaries are covered by
         permissions requirements from the China Securities Regulatory
Commission (CSRC),
         Cyberspace Administration of China (CAC) or any other governmental
agency that is
         required to approve your operations, and state affirmatively whether
you have received all
         requisite permissions or approvals and whether any permissions or
approvals have been
         denied. Please also describe the consequences to you and your
investors if you or your
         subsidiaries: (i) do not receive or maintain such permissions or
approvals, (ii)
         inadvertently conclude that such permissions or approvals are not
required, or (iii)
         applicable laws, regulations, or interpretations change and you are
required to obtain such
         permissions or approvals in the future. Please also identify your PRC
counsel in the
         prospectus summary. Note that even if you disclose that you are not
subject to any
         permissions or approvals you must still revise your summary to include
the consequences
         to you and your offering if you: (i) inadvertently conclude that such
permissions or
         approvals are not required, or (ii) applicable laws, regulations, or
interpretations change
         and you are required to obtain such permissions or approvals in the
future.
4.       We note your response to our prior comment 13 and reissue. Please
include disclosure in
         your prospectus summary that provides a clear description of how cash
is transferred
         through your organization. Disclose your intentions to distribute
earnings. Quantify any
         cash flows and transfers of other assets by type that have occurred
between the holding
         company and its subsidiaries, and direction of transfer. Quantify any
dividends or
         distributions that a subsidiary have made to the holding company and
which entity made
         such transfer, and their tax consequences. Similarly quantify
dividends or distributions
         made to U.S. investors, the source, and their tax consequences. Your
disclosure should
         make clear if no transfers, dividends, or distributions have been made
to date. Describe
         any restrictions on foreign exchange and your ability to transfer cash
between entities,
         across borders, and to U.S. investors. Describe any restrictions and
limitations on your
         ability to distribute earnings from the company, including your
subsidiaries, to the parent
         company and U.S. investors.
Commercialization Preparation, page 10

5.       We note your revisions in response to our prior comment 8 and reissue
in part. Please
         disclose what the development plan and performance study for your
A+CellScan entailed,
         the purpose of the development plan and performance study, and when
each was
         completed. Please also discuss the pre-mass production test in more
detail and what
         factors will need to be satisfied to achieve mass production.
 Hung To Pau, Ph.D.
FirstName  LastNameHung To Pau, Ph.D.
Advanced Biomed   Inc.
Comapany
March      NameAdvanced Biomed Inc.
       17, 2023
March4 17, 2023 Page 4
Page
FirstName LastName
6.       We note your revisions in response to our prior comment 14 and reissue
in part. We note
         from your response that you "currently cooperate with Unimold
Technology Inc. for
         small-scale trial production." Please clearly disclose this
information in your prospectus
         and describe the terms and parameters of this arrangement. To the
extent that you have
         entered into any contracts with Unimold, please disclose the material
terms of these
         agreements and file these agreements as exhibits to the Registration
Statement.
Competitive Strengths, page 11

7.       We note your revisions in response to our prior comment 16. Please
revise to provide a
         basis for your statement that you are able to "complete the detection
and analysis in a
         short period of time while ensuring the accuracy of the results and
reducing the death
         number of targeted cells throughout the process."
8.       We note your revisions in response to our prior comment 10. Please
revise the "Ready for
         Commercialization" label under your "Competitive Strengths" section to
remove the
         implication that your products are ready to be commercialized, as none
of your products
         have received the regulatory approvals necessary to commercialize
them.
Risks Factors
Risks Related to Doing Business in Taiwan
Advanced Biomed Taiwan does not currently own any trademark or patent, page 34

9.       We note your revisions in response to our prior comment 20 and reissue
in part. Please
         disclose the material terms of your agreement with National Applied
Research
         Laboratories in an appropriate section of your Business section.
Please be sure to disclose
         the payment obligations of the agreement, the aggregate amounts paid
or received to date
         under the agreement, the duration of the agreement, and any
termination provisions.

Use of Proceeds, page 54

10.      We note your revisions in response to our prior comment 22 and
reissue. Please
         disclose how far in the development process you estimate that the
allocated proceeds from
         the offering will enable you to reach. For example, please indicate if
you expect to be able
         to fully fund your clinical trial starting June 2023, complete the
design and development
         of specific chips or finish building your laboratory without raising
additional capital.
Critical Accounting Policies and Estimates, page 61

11.      We note your response to comment 25. Your disclosures continue to
indicate that your
         significant accounting estimates include the useful lives for
property, plant and equipment
         and intangible assets, fair value of financial instruments,
assumptions used in assessing
         right of use assets and goodwill, impairment of long-lived assets,
property, plant and
         equipment, intangible assets and goodwill and uncertain tax position.
However you only
         disclose a critical accounting policy related to goodwill. Please
revise as necessary. As
 Hung To Pau, Ph.D.
Advanced Biomed Inc.
March 17, 2023
Page 5
         previously requested, please also revise your disclosures to address
the material
         implications of the uncertainties that are associated with the
methods, assumptions and
         estimates underlying your critical accounting estimates. Your expanded
disclosures should
         address the risk related to using different assumptions and analyze
their sensitivity to
         change based on outcomes that are deemed reasonably likely to occur.
It does not appear
         that your additional disclosures related to goodwill address this.
Refer to Item
         303(b)(3) of Regulation S-K
Business
Quality Control System, page 75

12.      We note your revisions in response to our prior comment 19. Please
expand your Quality
         Control Section to disclose how you assess whether your products and
processes adhere
         to the regulations subject to your Quality Control System.
Intellectual Property, page 77

13.      We note your revisions in response to our prior comment 29 and reissue
in part. Please
         revise your table to disclose the expiration dates of all your granted
and pending patents
         and provide a product candidate that each patent relates to or clarify
any patents that are
         not associated with any of your product candidates. Please also revise
to explain what a
         utility model is and specify the type of invention patent to the
extent subtypes exist for
         such jurisdictions.
Regulations in the PRC
Registration and Filings of Medical Devices, page 84

14.    We note your response to our prior comment 31 and your statement on page
84:    As of
       the date of this prospectus, we have completed the filing for the Class
I medical device.
       Our products are Class III medical devices and are required to conduct
clinical trials
       before completing the registration process.    Please clarify for which
device you
FirstName LastNameHung To Pau, Ph.D.
       completed the filing for as a Class I medical device and revise your
summary to state that
Comapany
       yourNameAdvanced
            products are ClassBiomed   Inc. devices required to conduct
clinical trials before
                                  III medical
March completing
       17, 2023 Pagethe5registration process.
FirstName LastName
 Hung To Pau, Ph.D.
FirstName  LastNameHung To Pau, Ph.D.
Advanced Biomed   Inc.
Comapany
March      NameAdvanced Biomed Inc.
       17, 2023
March6 17, 2023 Page 6
Page
FirstName LastName
National Medical Insurance Program, page 87

15.      We note your revisions in response to our prior comment 32 and reissue
in part. We note
         your intention to "make [y]our products covered by medical insurance
programs in the
         future." Please discuss how you anticipate reimbursement coverage and
rates will be
         determined for your products, the applicable agency or agencies that
will make
         such determinations in the PRC and the anticipated timeline for any
such decisions. Please
         also include risk factor disclosure regarding risks and uncertainties
around reimbursement
         coverage and rates, particularly with respect to the need to negotiate
such terms with
         government entities in the PRC, and the impact that an inability to
receive third-party
         payor coverage will have on your business. We note, for example, your
statement on page
         29 that "In the absence of guarantee and reimbursement from
third-party payers and
         government departments, end users pay for their own expenses will use
our products."
Compensation of Directors and Executive Officers, page 103

16.      We note your response to our prior comment 33. Please disclose all of
the information
         required by Item 402(m) of Regulation S-K with regard to your CFO. We
also note your
         intention to supplementally file the employment agreements with the
current management
         team. Please revise your exhibit index to include these employment
agreements.
Enforceability of Civil Liabilities, page 119

17.      We note your response to our prior comment 34. Please revise to state
the
         jurisdiction where your Chairman of the Board is located and where the
remaining
         directors are located, when available.
Note 1. Organization and Principal Activities, page F-7

18.      We note your response to comment 36. Please help us understand how you
determined
         that the reorganization should be accounted for as a transaction under
common control per
         the guidance of ASC 805. Specifically, please tell us how you
determined that Dr. Yi Lu
         controlled both Advanced Biomed Inc. (Taiwan) as well as Advanced
Biomed Inc. at the
         time of the transaction in July 2022. In this regard, we note that
your disclosures on pages
         48 and 105 indicate that Dr. Yi Lu only owned 33.54% of your
outstanding shares of
         common stock. Please refer to the definition of control and guidance
in ASC 805-50-15-6
         , ASC 805 20-20, and ASC 810-10-15-8. As previously requested, please
also disclose
         the terms of the reorganization, including how many shares of common
stock were
         exchanged as part of this transaction.
 Hung To Pau, Ph.D.
FirstName  LastNameHung To Pau, Ph.D.
Advanced Biomed   Inc.
Comapany
March      NameAdvanced Biomed Inc.
       17, 2023
March7 17, 2023 Page 7
Page
FirstName LastName
Note 5. Goodwill, page F-13

19.      We note your response to comment 37. Please address the following:
             Please provide us with a comprehensive analysis as to how you
determined that you
            acquired a business pursuant to ASC 805. Refer to the ASC
805-10-55-3A through
            55-9. As previously requested, please also specifically address the
guidance in ASC
            805-10-55-5A which states if substantially all of the fair value of
the gross assets
            acquired is concentrated in a single identifiable asset or group of
similar identifiable
            assets, the set is not considered a business;
             As previously requested, please address what consideration you
gave to providing
            financial statements of this entity pursuant to Rule 3-05 of
Regulation S-X. We
            remind you that the definition of a business in Rule 11-01(d) of
Regulation S-X is
            different than that of a business pursuant to ASC 805; and
             We note the pro forma information provided. It is not clear if
this was provided
            pursuant to ASC 805-10-50-2(h) or Article 11 of Regulation S-X. We
remind you
            that the pro forma financial information pursuant to Article 11 of
Regulation S-X is
            different than the supplemental pro forma financial information
required pursuant to
            ASC 805. We also refer you to the preparation requirements outlined
in Rule 11-02
            of Regulation S-X for preparing the pro forma financial information
under Article 11
            of Regulation S-X. This guidance addresses the periods to be
presented as well as the
            specific columns that should be presented.
Item 15. Recent Sales of Unregistered Securities, page II-2

20.      We note your revisions in response to our prior comment 38 and reissue
in part. Please
         disclose the consideration paid by recipients of each issuance. Please
also disclose these
         issues in your "Certain Relationships and Related Party Transactions"
section or explain
         why you are not required to do so.
Item 17. Undertakings, page II-3

21.      Please provide the all the appropriate undertakings required by Item
512 of Regulation S-
         K that apply to you. Specifically, it appears as if you are missing
Item 512(a)(6) and that
         you are subject to Rule 430A of the Securities Act and must provide
         the undertakings required by Item 512(i). Please revise or advise.
Exhibits

22.      Please revise to file the advisory agreements described on page 79
pursuant to Item
         601(b)(10) of Regulation S-K.
 Hung To Pau, Ph.D.
FirstName  LastNameHung To Pau, Ph.D.
Advanced Biomed   Inc.
Comapany
March      NameAdvanced Biomed Inc.
       17, 2023
March8 17, 2023 Page 8
Page
FirstName LastName
General

23.      We note your statements that you have signed contracts with a Contract
Research
         Organization and with the Taiwan Semiconductor Center of the National
Research
         Institute. We also note the Investor Agreements with Hanyu Assets Co.,
Ltd. and Newlink
         Technology, Inc. and the Debt-for-Equity Exchange Agreement that the
Company entered
         into with certain shareholders on June 30, 2022. Please provide the
material terms of these
         agreements within an appropriate section of your prospectus and file
the agreements
         pursuant to Item 601(b)(10) of Regulation S-K, or otherwise explain
why you are not
         required to do so.
24.      We note your response to our prior comment 21 and your removal of the
statement in the
         Risk Factors that you need foreign investment approval from the Bureau
of Economic
         Development of Tainan City Government in accordance with the Taiwan
Company
         Act. Your disclosure elsewhere still includes this disclosure. Please
remove these
         statements or advise.
25.      We note your disclosure that you believe you are not subject to the
Overseas Listing Trial
         Measures. We also note your disclosure on page 38 that "[b]ased on the
advice of PRC
         counsel and [y]our understanding of currently applicable PRC laws and
regulations,
         [y]our registered public offering in the U.S. is not subject to the
review or prior approval
         of the Cyberspace Administration of China (the "CAC") or the China
Securities
         Regulatory Commission (the "CSRC")." Please clarify whether you relied
on the advice of
         counsel in making the determination that you are not subject to the
Overseas Listing Trial
         Measures. If you did not consult counsel in making this determination,
please tell us how
         you reached this determination, and explain why you did not obtain the
advice of counsel.
26.      We note your response to our prior comment 40. Please explain why this
tax disclosure
         includes references to the Cayman Islands and Cayman Islands counsel.
       You may contact Nudrat Salik at 202-551-3692 or Al Pavot at 202-551-3738
if you have
questions regarding comments on the financial statements and related matters.
Please contact
Jordan Nimitz at 202-551-5831 or Margaret Schwartz at 202-551-7153 with any
other questions.

                                                               Sincerely,

                                                               Division of
Corporation Finance
                                                               Office of
Industrial Applications and
                                                               Services
cc:      Fang Liu, Esq.

```

### Attached PDF Documents

**Attachment 1:** `filename1`

![img-0.jpeg](img-0.jpeg)

CORPORATION FINANCE

# UNITED STATES  
**SECURITIES AND EXCHANGE COMMISSION**  
WASHINGTON, D.C. 20549

March 17, 2023

Hung To Pau, Ph.D.  
Chief Executive Officer  
Advanced Biomed Inc.  
689-87 Xiaodong Road  
Yongkang District  
Tainan, Taiwan

**Re: Advanced Biomed Inc.**  
**Amendment No. 1 to Draft Registration Statement on Form S-1**  
**Submitted March 6, 2023**  
**CIK No. 0001941029**

Dear Hung To Pau:

We have reviewed your amended draft registration statement and have the following comments. In some of our comments, we may ask you to provide us with information so we may better understand your disclosure.

Please respond to this letter by providing the requested information and either submitting an amended draft registration statement or publicly filing your registration statement on EDGAR. If you do not believe our comments apply to your facts and circumstances or do not believe an amendment is appropriate, please tell us why in your response.

After reviewing the information you provide in response to these comments and your amended draft registration statement or filed registration statement, we may have additional comments.

Hung To Pau, Ph.D.
Advanced Biomed Inc.
March 17, 2023
Page 2

Amendment No. 1 to Draft Registration Statement on Form S-1 submitted March 6, 2023

Prospectus Summary

Overview, page 9

1. We note your revisions in response to our prior comment 6 and reissue. Your disclosure on pages 9, 58 and 66 appears to indicate that the testing completed between July 17, 2019 and December 2021 was for your A*Pre, AC-1000 and A+SCDrop. However, you then present the results for A*LCGuard without mentioning the involvement of A*Pre, AC-1000 or A*SCDrop. Please revise to connect your statements about A+Pre, AC-1000 and A+SCDrop to the results of A+LCGuard. We also note that page 75 provides that the 123 case studies took place during the August 2020 - September 2022 timeframe. Please clarify what developmental tests and studies were conducted for each of your products, specify which products were tested in each of these studies, and when these studies each took place. Please also revise references to “clinic trials” and certain values “obtained through clinical trials” so as to not draw an inference to clinical trials as defined by the FDA and other comparable regulators. Revise to state explicitly that you have not conducted any clinical trials.
2. We note your revisions in response to our prior comment 7 and reissue in part. Please disclose here the role of single cell targeting in CTC capturing. We also note your statement that you will need to "complete the registration application and obtain the corresponding license in accordance with the local regulations before engaging in commercial activities in the respective regions/countries" and that you have "applied for product registration in China in accordance with relevant Chinese laws and regulations." For each of China, the U.S. and Europe, please disclose the governmental authority holding regulatory jurisdiction over the commercialization of your products and the regulatory requirements you must satisfy to receive licensure or approval, including the steps you have completed and those that remain to be completed. We note, for example, your statements that A*Cellscan chip has completed a "development plan" and "performance study," A*SCDrop samples have been "produced for product registration," your CTC identification and counting application is “ready for commercialization,” your A*LCGuard has completed a "prospective study" and your immunochromogenic kits "are ready to be transformed into commercialization." Please disclose what each of these steps mean in the context of registering your products for licensure or approval. Finally, we note your statement that your "products and devices work together to achieve the designed result." Please clearly state whether, if approved, your products could be sold individually, or whether they are only designed to work together and not with any third-party products.

Hung To Pau, Ph.D.
Advanced Biomed Inc.
March 17, 2023
Page 3

3. We note your response to prior comment 12 regarding permissions or approvals and reissue. Disclose each permission or approval that you or your subsidiaries are required to obtain from Chinese authorities to operate your business and to offer the securities being registered to foreign investors. State whether you or your subsidiaries are covered by permissions requirements from the China Securities Regulatory Commission (CSRC), Cyberspace Administration of China (CAC) or any other governmental agency that is required to approve your operations, and state affirmatively whether you have received all requisite permissions or approvals and whether any permissions or approvals have been denied. Please also describe the consequences to you and your investors if you or your subsidiaries: (i) do not receive or maintain such permissions or approvals, (ii) inadvertently conclude that such permissions or approvals are not required, or (iii) applicable laws, regulations, or interpretations change and you are required to obtain such permissions or approvals in the future. Please also identify your PRC counsel in the prospectus summary. Note that even if you disclose that you are not subject to any permissions or approvals you must still revise your summary to include the consequences to you and your offering if you: (i) inadvertently conclude that such permissions or approvals are not required, or (ii) applicable laws, regulations, or interpretations change and you are required to obtain such permissions or approvals in the future.

4. We note your response to our prior comment 13 and reissue. Please include disclosure in your prospectus summary that provides a clear description of how cash is transferred through your organization. Disclose your intentions to distribute earnings. Quantify any cash flows and transfers of other assets by type that have occurred between the holding company and its subsidiaries, and direction of transfer. Quantify any dividends or distributions that a subsidiary have made to the holding company and which entity made such transfer, and their tax consequences. Similarly quantify dividends or distributions made to U.S. investors, the source, and their tax consequences. Your disclosure should make clear if no transfers, dividends, or distributions have been made to date. Describe any restrictions on foreign exchange and your ability to transfer cash between entities, across borders, and to U.S. investors. Describe any restrictions and limitations on your ability to distribute earnings from the company, including your subsidiaries, to the parent company and U.S. investors.

Commercialization Preparation, page 10

5. We note your revisions in response to our prior comment 8 and reissue in part. Please disclose what the development plan and performance study for your A+CellScan entailed, the purpose of the development plan and performance study, and when each was completed. Please also discuss the pre-mass production test in more detail and what factors will need to be satisfied to achieve mass production.

Hung To Pau, Ph.D.
Advanced Biomed Inc.
March 17, 2023
Page 4

6. We note your revisions in response to our prior comment 14 and reissue in part. We note from your response that you "currently cooperate with Unimold Technology Inc. for small-scale trial production." Please clearly disclose this information in your prospectus and describe the terms and parameters of this arrangement. To the extent that you have entered into any contracts with Unimold, please disclose the material terms of these agreements and file these agreements as exhibits to the Registration Statement.

Competitive Strengths, page 11

7. We note your revisions in response to our prior comment 16. Please revise to provide a basis for your statement that you are able to "complete the detection and analysis in a short period of time while ensuring the accuracy of the results and reducing the death number of targeted cells throughout the process."

8. We note your revisions in response to our prior comment 10. Please revise the "Ready for Commercialization" label under your "Competitive Strengths" section to remove the implication that your products are ready to be commercialized, as none of your products have received the regulatory approvals necessary to commercialize them.

Risks Factors

Risks Related to Doing Business in Taiwan

Advanced Biomed Taiwan does not currently own any trademark or patent, page 34

9. We note your revisions in response to our prior comment 20 and reissue in part. Please disclose the material terms of your agreement with National Applied Research Laboratories in an appropriate section of your Business section. Please be sure to disclose the payment obligations of the agreement, the aggregate amounts paid or received to date under the agreement, the duration of the agreement, and any termination provisions.

Use of Proceeds, page 54

10. We note your revisions in response to our prior comment 22 and reissue. Please disclose how far in the development process you estimate that the allocated proceeds from the offering will enable you to reach. For example, please indicate if you expect to be able to fully fund your clinical trial starting June 2023, complete the design and development of specific chips or finish building your laboratory without raising additional capital.

Critical Accounting Policies and Estimates, page 61

11. We note your response to comment 25. Your disclosures continue to indicate that your significant accounting estimates include the useful lives for property, plant and equipment and intangible assets, fair value of financial instruments, assumptions used in assessing right of use assets and goodwill, impairment of long-lived assets, property, plant and equipment, intangible assets and goodwill and uncertain tax position. However you only disclose a critical accounting policy related to goodwill. Please revise as necessary. As

Hung To Pau, Ph.D.  
Advanced Biomed Inc.  
March 17, 2023  
Page 5

previously requested, please also revise your disclosures to address the material implications of the uncertainties that are associated with the methods, assumptions and estimates underlying your critical accounting estimates. Your expanded disclosures should address the risk related to using different assumptions and analyze their sensitivity to change based on outcomes that are deemed reasonably likely to occur. It does not appear that your additional disclosures related to goodwill address this. Refer to Item 303(b)(3) of Regulation S-K

### Business

#### Quality Control System, page 75

12. We note your revisions in response to our prior comment 19. Please expand your Quality Control Section to disclose how you assess whether your products and processes adhere to the regulations subject to your Quality Control System.

#### Intellectual Property, page 77

13. We note your revisions in response to our prior comment 29 and reissue in part. Please revise your table to disclose the expiration dates of all your granted and pending patents and provide a product candidate that each patent relates to or clarify any patents that are not associated with any of your product candidates. Please also revise to explain what a utility model is and specify the type of invention patent to the extent subtypes exist for such jurisdictions.

### Regulations in the PRC

#### Registration and Filings of Medical Devices, page 84

14. We note your response to our prior comment 31 and your statement on page 84: 'As of the date of this prospectus, we have completed the filing for the Class I medical device. Our products are Class III medical devices and are required to conduct clinical trials before completing the registration process.' Please clarify for which device you completed the filing for as a Class I medical device and revise your summary to state that your products are Class III medical devices required to conduct clinical trials before completing the registration process.

Hung To Pau, Ph.D.  
Advanced Biomed Inc.  
March 17, 2023  
Page 6

# National Medical Insurance Program, page 87

15. We note your revisions in response to our prior comment 32 and reissue in part. We note your intention to 'make [y]our products covered by medical insurance programs in the future.' Please discuss how you anticipate reimbursement coverage and rates will be determined for your products, the applicable agency or agencies that will make such determinations in the PRC and the anticipated timeline for any such decisions. Please also include risk factor disclosure regarding risks and uncertainties around reimbursement coverage and rates, particularly with respect to the need to negotiate such terms with government entities in the PRC, and the impact that an inability to receive third-party payor coverage will have on your business. We note, for example, your statement on page 29 that 'In the absence of guarantee and reimbursement from third-party payers and government departments, end users pay for their own expenses will use our products.'

# Compensation of Directors and Executive Officers, page 103

16. We note your response to our prior comment 33. Please disclose all of the information required by Item 402(m) of Regulation S-K with regard to your CFO. We also note your intention to supplementally file the employment agreements with the current management team. Please revise your exhibit index to include these employment agreements.

# Enforceability of Civil Liabilities, page 119

17. We note your response to our prior comment 34. Please revise to state the jurisdiction where your Chairman of the Board is located and where the remaining directors are located, when available.

# Note 1. Organization and Principal Activities, page F-7

18. We note your response to comment 36. Please help us understand how you determined that the reorganization should be accounted for as a transaction under common control per the guidance of ASC 805. Specifically, please tell us how you determined that Dr. Yi Lu controlled both Advanced Biomed Inc. (Taiwan) as well as Advanced Biomed Inc. at the time of the transaction in July 2022. In this regard, we note that your disclosures on pages 48 and 105 indicate that Dr. Yi Lu only owned 33.54% of your outstanding shares of common stock. Please refer to the definition of control and guidance in ASC 805-50-15-6, ASC 805 20-20, and ASC 810-10-15-8. As previously requested, please also disclose the terms of the reorganization, including how many shares of common stock were exchanged as part of this transaction.

Hung To Pau, Ph.D.
Advanced Biomed Inc.
March 17, 2023
Page 7

Note 5. Goodwill, page F-13

19. We note your response to comment 37. Please address the following:
- Please provide us with a comprehensive analysis as to how you determined that you acquired a business pursuant to ASC 805. Refer to the ASC 805-10-55-3A through 55-9. As previously requested, please also specifically address the guidance in ASC 805-10-55-5A which states if substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or group of similar identifiable assets, the set is not considered a business;
- As previously requested, please address what consideration you gave to providing financial statements of this entity pursuant to Rule 3-05 of Regulation S-X. We remind you that the definition of a business in Rule 11-01(d) of Regulation S-X is different than that of a business pursuant to ASC 805; and
- We note the pro forma information provided. It is not clear if this was provided pursuant to ASC 805-10-50-2(h) or Article 11 of Regulation S-X. We remind you that the pro forma financial information pursuant to Article 11 of Regulation S-X is different than the supplemental pro forma financial information required pursuant to ASC 805. We also refer you to the preparation requirements outlined in Rule 11-02 of Regulation S-X for preparing the pro forma financial information under Article 11 of Regulation S-X. This guidance addresses the periods to be presented as well as the specific columns that should be presented.

Item 15. Recent Sales of Unregistered Securities, page II-2

20. We note your revisions in response to our prior comment 38 and reissue in part. Please disclose the consideration paid by recipients of each issuance. Please also disclose these issues in your "Certain Relationships and Related Party Transactions" section or explain why you are not required to do so.

Item 17. Undertakings, page II-3

21. Please provide the all the appropriate undertakings required by Item 512 of Regulation S-K that apply to you. Specifically, it appears as if you are missing Item 512(a)(6) and that you are subject to Rule 430A of the Securities Act and must provide the undertakings required by Item 512(i). Please revise or advise.

Exhibits

22. Please revise to file the advisory agreements described on page 79 pursuant to Item 601(b)(10) of Regulation S-K.

Hung To Pau, Ph.D.
Advanced Biomed Inc.
March 17, 2023
Page 8

General

23. We note your statements that you have signed contracts with a Contract Research Organization and with the Taiwan Semiconductor Center of the National Research Institute. We also note the Investor Agreements with Hanyu Assets Co., Ltd. and Newlink Technology, Inc. and the Debt-for-Equity Exchange Agreement that the Company entered into with certain shareholders on June 30, 2022. Please provide the material terms of these agreements within an appropriate section of your prospectus and file the agreements pursuant to Item 601(b)(10) of Regulation S-K, or otherwise explain why you are not required to do so.
24. We note your response to our prior comment 21 and your removal of the statement in the Risk Factors that you need foreign investment approval from the Bureau of Economic Development of Tainan City Government in accordance with the Taiwan Company Act. Your disclosure elsewhere still includes this disclosure. Please remove these statements or advise.
25. We note your disclosure that you believe you are not subject to the Overseas Listing Trial Measures. We also note your disclosure on page 38 that "[b]ased on the advice of PRC counsel and [y]our understanding of currently applicable PRC laws and regulations, [y]our registered public offering in the U.S. is not subject to the review or prior approval of the Cyberspace Administration of China (the "CAC") or the China Securities Regulatory Commission (the "CSRC")." Please clarify whether you relied on the advice of counsel in making the determination that you are not subject to the Overseas Listing Trial Measures. If you did not consult counsel in making this determination, please tell us how you reached this determination, and explain why you did not obtain the advice of counsel.
26. We note your response to our prior comment 40. Please explain why this tax disclosure includes references to the Cayman Islands and Cayman Islands counsel.

You may contact Nudrat Salik at 202-551-3692 or Al Pavot at 202-551-3738 if you have questions regarding comments on the financial statements and related matters. Please contact Jordan Nimitz at 202-551-5831 or Margaret Schwartz at 202-551-7153 with any other questions.

Sincerely,

Division of Corporation Finance
Office of Industrial Applications and
Services

cc: Fang Liu, Esq.