Jieshi Medical Completes Series B Financing with Needle Capital as Exclusive Financial Advisor

Shanghai Jieshi Medical Technology Co., Ltd.("abbreviation"Jieshi Medical"") successfully completed the B-round financing led by Yunseng Investment, with Xingliang Investment following suit.Probe Capital Served as the Exclusive Financial Advisor. The funds obtained will be used for the acceleration of core product commercialization, new product research and development, and market expansion.

In China's ophthalmic medical device field, especially in high-value consumables, there has been a long-term reliance on imports. For instance, in complex vitreoretinal surgeries, the domestic production level of critical materials used in "bottleneck" surgeries, such as intraocular filling gases and heavy water (liquid instruments) for ophthalmic surgery, is almost zero. Imported products are not only expensive but also suffer from unstable supply, which not only restricts the popularization of retinal surgeries but also seriously affects the surgical treatment of patients with fundus diseases who need timely vision-saving procedures.

Shanghai Jieshi Medical Technology Co., Ltd. was established in January 2013 at the Zhangjiang Medical Device Industry Base. The company is dedicated to the research, development, and production of systematic solutions in the two major fields of fundus diseases and visual reconstruction. It has now formed a preliminary product portfolio: JetVision® Perfluoropropane Gas for Ophthalmic Use, HeavyWater® Perfluorooctane for Ophthalmic Surgery, a disposable ophthalmic puncture system, silicone oil injection and suction kits, eye irrigation (injection and suction) needles, and multiple other products that were the first to gain approval and be launched in China. Products such as silicone oil for ophthalmic surgery, disposable vitrectomy probes/laser fibers/illumination fibers, and artificial corneal endothelium are currently under development.

Among them, the ophthalmic perfluoropropane gas (trade name: Jieshi®) independently developed by Shanghai Jieshi Medical Technology Co., Ltd. obtained the NMPA Class III certificate in February this year, becoming the first disposable long-acting ophthalmic filling gas approved for production in China. The product is specifically designed for vitreoretinal surgery and used for intraocular filling treatment, effectively promoting the repositioning and healing of detached retinas.

Jieshi® Perfluoropropane Gas for Ophthalmology, mainly composed of C3F8, is colorless and transparent with stable chemical properties, and can be used within the vitreous cavity. After injection, it is gradually excreted through the blood and respiratory system, eliminating the need for secondary surgery for removal. With its 30mL standalone and binary protective packaging, as well as a single-use design, it directly addresses the pain points of high prices of imported products, repeated use, and risks of nosocomial infections. Moreover, with 99% high purity, it redefines industry standards, completely ending the long-standing dilemma in China where no domestically produced long-acting gas was available for retinal surgeries, and where treatment delays occurred due to shortages of imported ophthalmic gases.

Jieshi® Perfluoropropane Gas for Ophthalmology (China Medical Device Registration No. 20253160327)

In addition, the perfluorooctane for ophthalmic surgery developed by Shanghai Jieshi Medical Technology Co., Ltd. (brand name: Heavy Water®) is also the only second-generation heavy water produced in China. Compared with the first-generation heavy water (mainly composed of perfluorodecalin, purity ≥ 95%), Jieshi Heavy Water® uses perfluorooctane as the main component, which has stable chemical properties and high inertness, making it less likely to trigger biological or enzymatic reactions within the body. It has a higher purity (purity ≥ 99.98%), a smaller relative density, exerting less mechanical pressure on the retina at the same volume, thus being safer. With a higher relative vapor pressure (high vapor pressure at 35°C: 6.0-8.0kPa), it is easier to volatilize post-surgery and less likely to leave residues. Its refractive index (1.26) is close to that of water (1.33), providing better color reproduction of the fundus, not only making it easier to identify but also maintaining good refractive media during surgery. With a high boiling point (102-106°C), it is less prone to vaporization during intraocular photocoagulation.

Heavy Water® Perfluorooctane for Ophthalmic Surgery (China Medical Device Registration No. 20203160015)

For this round of financing,Founder of Jieshi Medical, Zhao HongbingExpress: heartfelt gratitude to all investors for their trust and support in Jieshi Medical amidst the current environment! This profound expectation bestows upon us a dual mission—to diligently cultivate while aspiring for ambitious breakthroughs. The innovation and self-reliance of China’s ophthalmic medical device industry require solidarity among industry peers. Let us join hands to outline an independent blueprint and embark on a bright future together! The road ahead is long and arduous, but walking it will lead to success; persistent action will ultimately bring the dawn. For more brightness, we persevere without ceasing!

Dr. Guo Yunlong, Founding Partner of Yunsheng InvestmentWith the trend of aging and economic development, the demand for diagnosis and treatment of ophthalmic diseases continues to increase. Shanghai Jieshi Medical Technology Co., Ltd. is a leading company in China's ophthalmic medical device field. Through independent innovation and R&D, it has differentially developed products in two major areas: fundus diseases and vision restoration. Several self-developed products, such as perfluoropropane gas for ophthalmology and perfluorooctane heavy water for ophthalmology, have filled the gap in domestically produced products, and several other innovative products are expected to be the first of their kind in China. The Jieshi Medical team has extensive experience in R&D and operations in the ophthalmic device field, focusing on clinical pain points to guide product development, aiming to benefit a wide range of patients with ophthalmic diseases through independent innovation.

Yang Shixian, Investment Management Partner of XingliangEyes are the windows to the soul! In terms of the localization rate of ophthalmic medical devices in China, it is significantly lagging behind other medical specialties. However, with the emergence of innovative, forward-thinking, and diligent domestic ophthalmic device R&D and manufacturing companies like Shanghai Jieshi Medical Technology Co., Ltd., the future of ophthalmology in China will undoubtedly be brighter! Shanghai Jieshi Medical Technology Co., Ltd. has initially formed a product portfolio for vitreoretinal surgical consumables, with several products being the first to fill domestic gaps or launch in the market. Leveraging these advantages, the company is committed to excelling in market sales, optimizing professional services, and strengthening solutions. The prospects are bound to be promising! Wishing Shanghai Jieshi Medical Technology Co., Ltd. continued success and further achievements!