Jieshi Medical Completes Series B Financing to Accelerate Innovation and Self-Reliance in China's Ophthalmic Medical Devices

Recently, Shanghai Jieshi Medical Technology Co., Ltd. ("Jieshi Medical") announced the completion of its Series B financing. The funds obtained will be used to accelerate the commercialization of core products, develop new products, and expand the market.

Shanghai Jieshi Medical Technology Co., Ltd. was established in 2012 as a high-tech enterprise specializing in the research, development, and production of Class III medical devices, including ophthalmic implants and intraocular fillers. The company focuses on developing and manufacturing systematic solutions for retinal diseases and vision restoration. It has already formed an initial product portfolio, with several products being the first to gain approval and launch in China: the Jieshi® Perfluoropropane Gas for ophthalmic use, Densyl® Perfluorooctane for ophthalmic surgery, a disposable ophthalmic puncture system, a silicone oil injection and suction kit, and an ophthalmic irrigation (injection/aspiration) needle. Multiple other products, such as silicone oil for ophthalmic surgery, disposable vitrectomy probes/laser fibers/illumination fibers, and artificial corneal endothelium, are currently in the research and development pipeline.

In China's ophthalmic medical device field, especially in high-value consumables, there has long been a reliance on imports. For instance, in complex vitreoretinal surgeries, the localization level of critical materials used in "chokepoint" surgeries, such as intraocular filling gases and heavy water (liquid instruments) for ophthalmic surgeries, 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 fundus patients who need timely vision-saving procedures.

Jieshi Medical's self-developed ophthalmic perfluoropropane gas (trade name: Jieshi®) obtained the NMPA Class III certificate this February, becoming the first domestically produced disposable long-acting ophthalmic filling gas to gain approval in China. The product is specifically designed for vitreoretinal surgery and used for intraocular filling treatment, effectively promoting the reattachment and healing of detached retinas.

Jieshi® Perfluoropropane Gas for Ophthalmology mainly consists of C3F8. It is colorless, transparent, and chemically stable, and can be used within the vitreous cavity. After injection, it is gradually excreted through the blood and respiratory system, eliminating the need for a second surgery to remove it. With its 30mL standalone and binary protective packaging, along with a single-use design, it directly addresses the pain points of high prices of imported products, repeated use, and the risk of hospital-acquired infections. Moreover, with a high purity of 99%, 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. Additionally, perfluorooctane for ophthalmic surgery (brand name: Heavy Water®), developed by Jieshi Medical, is also the only second-generation heavy water produced in China.

Regarding this round of financing, Zhao Hongbing, founder of Shanghai Jieshi Medical Technology Co., Ltd., stated: The innovation and self-reliance of China's ophthalmic medical devices require the solidarity and joint efforts of the industry. Let us work together to draw up an independent blueprint and jointly usher in a bright future! The road ahead is long and fraught with challenges, but we will get there if we keep moving; persistent action will eventually bring the dawn. For more brightness, we persevere!