Weekly Report on China's Health Industry: YiMiao Shenzhou Launches STAR Market IPO; Huaheng Bio Plans H-Share Listing

Beijing Yimiaoshenzhou Medical Techology Co., Ltd. Initiates Sci-Tech Innovation Board IPO

Recently, according to the official website of CITIC Securities, CITIC Securities has been appointed as the coaching institution for Beijing Yimiaoshenzhou Medical Techology Co., Ltd. (referred to as "Yimiaoshenzhou") for its initial public offering and listing. On July 23, 2025, CITIC Securities signed a coaching agreement with Yimiaoshenzhou and formally submitted the coaching filing application materials to the Beijing Regulatory Bureau of the China Securities Regulatory Commission (referred to as "Beijing CSRC") on July 25; On July 29, 2025, the Beijing CSRC agreed to the coaching filing of Yimiaoshenzhou and issued a coaching filing registration confirmation letter. CITIC Securities has formulated corresponding coaching plans and implementation schemes in accordance with laws, regulations, and requirements. Up to now, CITIC Securities' coaching work for the listing of Yimiaoshenzhou is still ongoing. (Source: Sina Finance)

Huaheng Biotech, Planning H-Share Listing

On the evening of July 30, Huaheng Biotech announced that the company is planning to issue overseas shares (H shares) and list on the Hong Kong Stock Exchange. The company is in discussions with relevant intermediaries regarding the specific progress of this H-share listing. The relevant details have not yet been finalized. This H-share listing will not result in changes to the company's controlling shareholder or actual controller. According to Huaheng Biotech’s 2024 annual report, the company is a national high-tech enterprise that focuses on the research, production, and sales of bio-based products through biomanufacturing methods, with synthetic biotechnology at its core. (Source: China Securities Journal)

LEPU BIOPHARMA Announces NewCo Collaboration with Excalipoint for Two Preclinical TCE Assets

LEPU BIOPHARMA Announces NewCo Collaboration with Excalipoint for Two Preclinical TCE Assets, Secures $10 Million Upfront Payment and Over $850 Million in Potential Deal Value, While Retaining 10% Equity in the Collaborative Company. This transaction brings in a certain amount of cash flow, but for LEPU BIOPHARMA, this is only the apparent gain. On a deeper level, it signifies that LEPU BIOPHARMA’s R&D platform has matured: “promising candidates” are being incubated in batches, and their value is realized early through collaboration models like NewCo. This not only enhances capital and efficiency leverage—“sharing risks and benefits”—but also accelerates R&D by leveraging external forces, locking in high-return options with minimal investment. Additionally, more resources can be concentrated on core ADC and IO pipelines to expedite the commercialization of late-stage pipelines. (Source: Arterial Network)

Grand Pharmaceutical Group Limited Secures Exclusive Agency Rights for Leading Nuclear Medicine in China

Grand Pharmaceutical Group Limited announced a deep strategic partnership with Belgium's IRE EliT, securing the exclusive agency rights in China for its globally leading medical-grade Germanium-68/Gallium-68 (68Ge/68Ga) generator, making it the sole supplier and service provider in China. This not only signifies that Grand Pharmaceutical has built a significant advantage in the supply of key raw materials for radiopharmaceuticals but also marks that China’s nuclear medicine field is now aligned with global major regulatory standards such as the U.S. FDA and European EMA regarding the supply of critical raw materials for precision diagnosis and treatment. (Source: China Pharmaceutical Network)

MedAI Tech Completes Pre-A Round Financing Worth Tens of Millions of Yuan

Recently, Hangzhou Yice Technology Co., Ltd. ("Yice Technology"), a provider of pathology AI solutions, announced the successful completion of a multi-million yuan Pre-A round of financing. This round was led by Wanyuan Point Fund, with participation from Oufang Angel and Guangzhou Bio Island Life Science Innovation and Entrepreneurship Investment Fund. Dian Shi Capital served as the exclusive financial advisor for the long term. The funds raised will mainly be used for the application and commercialization of pathology large models and pharmaceutical R&D services, accelerating the construction of a smart pathology ecosystem. (Source: Arterial Network)

Methuselah Completes Over 100 Million Yuan in B+ Round Financing

Recently, Mashi-salah (Shanghai) Biotechnology Co., Ltd. (hereinafter referred to as "Mashi-salah") announced the completion of an over RMB 100 million Series B+ financing round. This round was jointly led by industrial investors Bailian Commerce Investment and Bailian Zhigao, with continued additional investment from existing shareholders Honghui Fund and Hongseng Capital. WinX Capital served as the exclusive financial advisor once again. The successful completion of this financing round marks the company's continuous advancement in the field of medical nutrition. The proceeds will mainly be used to strengthen ongoing R&D investment in core products, advance clinical trials, and further consolidate the company’s leading position in both "clinical and consumer" scenarios. (Source: Vbdata.cn)

Innary Medical Secures Tens of Millions in Pre-A Funding

Recently, Innoray Medical Technology (Shanghai) Co., Ltd. ("Innoray Medical"), a leading provider of bone metabolism diagnosis and treatment solutions in China, announced the completion of a multi-million yuan Pre-A round of financing. This round of financing was led by Chengshu Investment, which focuses on the healthcare sector. (Source: Arterial Network)

Primed Biotech Completes Nearly 300 Million Yuan in Series C Financing

Nanjing Pulimeng Medical Technology Co., Ltd. (hereinafter referred to as "Pulimeng") has recently completed a nearly 300 million yuan C-round financing. Yahu Investment, Huatai Zijin, Xingong Industrial Investment, and Rongzhen Investment participated in this investment, with Qifeng Capital serving as the financial advisor. Founded in 2016, Pulimeng is a high-tech enterprise focusing on medical polymer materials and bio-tissue engineering, and serves as a platform enterprise for the cross-application of material science and clinical medicine. (Source: Arterial Network)