Mingche Biotech Secures Tens of Millions in Series A Funding to Advance Minimally Invasive Ophthalmic Devices

Investment Circle (ID: pedaily2012) November 17th, by reporter, MINGCHE (Suzhou) Biotechnology Co., Ltd. (hereinafter referred to as MINGCHE) recently announced the completion ofTens of Millions in Series A Financing. This round of financing was led byNan创投, 元禾控股, 创谷资本 Investment, The funds will be used for the NMPA and CE registration of the core product, the minimally invasive glaucoma drainage tube, as well as the research and development of hydrogel drainage devices and implantable intraocular pressure sensors. Meanwhile, to accelerate the progress of R&D on ICL crystals for refractive myopia correction, this round of funding will also be utilized for the construction of ICL crystal R&D and pilot production facilities, along with clinical transformation projects.

MINGCHE, founded in 2021, is an innovative ophthalmic medical device company. Since its establishment, it has built a core team with 10-20 years of comprehensive industry experience in the entire process of R&D, production quality, medicine, market, and operational management for Class III medical devices. At the same time, MINGCHE maintains close cooperation with top scientific research consultants, including academicians from within and outside China, to strengthen multidisciplinary collaboration in biomaterials, intelligent manufacturing, mechanical engineering, and AI algorithms, promoting the rapid development of ophthalmic and minimally invasive devices.

MINGCHE's product pipeline has fully covered the fields of anterior and posterior segment diseases of the eye, as well as minimally invasive treatments. Its core product pipeline includes a series of Minimally Invasive Glaucoma Surgery (MIGS) products, microneedles for retinal injection at the fundus of the eye, posterior chamber refractive lenses (with crystalline lens) and supporting systems, and vascular interventional micro-nano robots.

Among them, the Minimally Invasive Glaucoma Surgery (MIGS) series, as MINGCHE's core product pipeline, has achieved several key advancements. For instance, the efficacy and safety of the minimally invasive glaucoma drainage tube have been validated through systematic clinical trials; the hydrogel drainage device not only enhances mechanical properties and anti-scarring capabilities but also significantly optimizes cost structure. The implantable intraocular pressure sensor, as an integrated "drainage + monitoring" solution, can be compatible with other ophthalmic implants and integrates aqueous humor drainage, intraocular pressure monitoring, and chronic disease management, offering the potential for early diagnosis, early treatment, and long-term management of glaucoma.

MINGCHE's self-developed endo-ophthalmic injection and aspiration needle has been approved for Class II medical device registration, offering advantages such as minimal invasiveness, precision, and safety. It meets the surgical needs for subretinal injection and aspiration in ophthalmic surgeries. MINGCHE’s phakic posterior chamber refractive lens and accompanying system utilize a new composite biomaterial, which exhibits excellent anti-protein adhesion properties while maintaining biocompatibility, flexible mechanical properties, and ultra-transparent optical characteristics.

As for MINGCHE's vascular interventional micro-nano robot, it is a high-end integrated new surgical platform currently in the early stages of development on a global scale.

So far, MINGCHE's minimally invasive glaucoma drainage tube has passed the special review process for Class III innovative medical devices by NMPA and entered the green channel for registration approval; the phakic posterior chamber refractive lens ICL and its supporting system have completed material and process finalization and started systematic verification; the vascular interventional micro-nano robot has conducted multiple rounds of large animal experiments and won national-level competition awards multiple times.

Regarding future development plans, MINGCHE stated that in the research and development of ophthalmic products, it will continue to focus on the innovation of minimally invasive, intelligent, and integrated precision diagnosis and treatment ophthalmic devices. It will also pay close attention to technological innovations related to presbyopia associated with an aging population.

In addition, MINGCHE will integrate platform technologies such as MIGS, sensors, ICL, micro-nano robots, and microneedles to develop a combination product line covering more eye diseases, becoming a platform company providing integrated solutions from diagnosis, treatment to chronic disease management. At the same time, MINGCHE will also explore the potential of cross-disciplinary applications of core technologies such as micro-nano robots and precision drug delivery in interventional fields like neurology and cardiovascular.

In terms of market expansion, on the one hand, MINGCHE will establish in-depth clinical and research collaborations with top ophthalmology centers in China while building a comprehensive system for product promotion, sales, technical services, and after-sales support. Through interdisciplinary cooperation between medical and engineering fields, collaborative innovation, and clinical research, MINGCHE will continuously improve and promote innovative products while accumulating real-world data. On the other hand, MINGCHE will also gradually expand into overseas markets and actively participate in the development of relevant international industry standards, aiming for long-term growth across China and globally.

Yan Peng'an, General Manager of the Investment Department III of Nanjing Innovation Investment Group"MINGCHE's project represents a precise move by Nanjing's '4+N' fund cluster to anchor the future health track. With a large patient base in the glaucoma field and urgent clinical needs, Minimally Invasive Glaucoma Surgery (MIGS) technology is still in its infancy in China. MINGCHE has made significant clinical progress with its minimally invasive glaucoma drainage tube and has built a differentiated barrier with its 'full eye health' product pipeline. Going forward, we will continue to leverage local industry resources and follow up on the product registration process, fully supporting its growth into a technological leader in the high-end ophthalmic device field, empowering both healthcare improvement and industrial upgrading."

Yuanhe Holdings"There are significant unmet clinical needs in ophthalmology subfields such as glaucoma diagnosis and treatment, and refractive myopia correction. We are optimistic about the clinical value and market potential of MIGS and ICL lenses in their respective fields. Ophthalmic implant devices have high technical barriers and long clinical validation cycles. The MINGCHE team possesses deep expertise in biomedical material technology and Class III medical device development experience. With solid product selection capabilities, highly focused execution, and a steady R&D strategy, the company’s product pipeline has achieved several substantial advancements and is gradually building up global technological competitiveness."

CHUANGU CAPITAL"Noted: 'The base number of glaucoma patients in China is huge, with unmet clinical treatment needs. We are optimistic about MINGCHE's forward-looking layout and technical strength in the ophthalmology sector, especially the company’s iterative product approach, which reflects its strong self-motivation and grasp of market trends. Currently, the company has made substantial progress on multiple products, and it is expected to become a game-changer for China-produced MIGS procedures.'"