RayTone Bio Announces Tens of Millions RMB Angel Funding to Advance Innovative Ocular Sustained-Release Drug Delivery Platform

VCBeat learned at the first time,Raytne Pharmaceutical Co., Ltd. (hereinafter referred to as"Raytne"Announced the completion of an angel round of financing worth tens of millions of yuan. This round of financing was led byTriwise Capital, National Innovation Center for High-Performance Medical Devices,Jenkem Technology Co.,Ltd.（688356.SH）AndDalton VentureJoint Investment Completed，Dingqi ConsultingAct as the exclusive financial advisor. The funds will be used to advance the company's corePipelineClinical trials, accelerateiSus^®Sustained ReleasePlatform technology development and pipeline expansion.

Raytne was founded in 2021.Focusing on the core technology of biodegradable long-acting sustained-release for ocular applications, dedicated to solving the pain point of frequent dosing with eye drop formulations.Core platform technology iSus^®Enables sustained drug release delivery on the ocular surface and in the fundus for a single administration lasting several days to months, significantly improving patient treatment compliance and prognosis outcomes.

Topical ocular drug administration is a typical treatment for eye diseases, but the effective drug ingredients have short retention time on the ocular surface, low bioavailability, and slow onset. For patients with chronic eye conditions, it is difficult to strictly adhere to medical instructions for timely drug administration over the long term. After cataract and refractive surgeries, anti-inflammatory and analgesic drugs must be frequently administered for 3-4 weeks to complete perioperative care. Various subjective and objective factors of patients may lead to poor medication adherence and suboptimal treatment outcomes, a problem widely recognized by ophthalmologists. There is an urgent need for a new treatment method that can provide long-term, stable drug release.

Globally, only three degradable ocular drug delivery systems developed by overseas companies have been approved. Examples include Allergan's anterior chamber implant for glaucoma treatment and vitreous implants for macular edema, as well as Ocular's punctal plug for post-operative anti-inflammatory and pain relief. The scarcity of approved products is mainly due to the multidisciplinary nature of research and development in this field, which involves long cycles and low success rates. The development of degradable sustained-release drugs encompasses multiple disciplines such as materials science, pharmaceuticals, chemical engineering, and medicine, facing numerous technical challenges like biocompatibility and degradability of materials, stability and controlled release of drugs, and quality control of micro-unit chemical processes. These factors collectively contribute to a complex and uncertain R&D process.

Raytne team successfully developed iSus after 3 years of breakthroughs in multiple core technical challenges such as formulation technology, degradation cycle control, and automated mass production.^®A biodegradable long-acting sustained-release technology platform that can be widely applied in the future to meet the long-term sustained-release needs of drugs in the ophthalmic field for both humans and pets.

The first product targets moderate to severe dry eye disease, providing both the physical function of punctal plugs and the pharmaceutical effect of immunosuppression. A single administration can last for several months, reducing the burden of patients having to apply medication multiple times daily.The sophisticated design ensures comfortable and stable insertion, enhancing compliance and treatment efficacy, while providing doctors with a more innovative, efficient, and accessible treatment method.

For this round of financing,Dr. Ling Yanbo, Founder of RaytneExpressed: "We sincerely thank the trust and support from all investors in this round. We will accelerate the clinical progress of our first product to provide ophthalmologists with more efficient treatment methods, addressing the urgent needs of 120 million patients with moderate to severe dry eye disease in China. Based on iSus..."^®Platform, we will explore more possibilities in the field of long-acting sustained-release drug delivery to the eye, accelerate the R&D and commercialization of innovative products, and strive to become a leader in the field of ocular drug delivery."

National Innovation Center for High-Performance Medical DevicesStated: "Triwise Capital's Guochuang Qinzhi Fund focuses on investments in the medical and healthcare sector, committed to discovering and supporting innovative projects with high growth potential. Raytne, with its groundbreaking iSus^®The sustained-release platform technology has demonstrated great potential in the field of long-acting ocular drug delivery, which aligns perfectly with our investment philosophy. We look forward to closely collaborating with the Raytne team to advance the clinical trials of the company’s core pipeline, accelerate technology development, and expand the product pipeline. The Triwise Capital fund will fully leverage our resources and experience to provide comprehensive support to Raytne, helping it achieve greater success in the field of ocular drug delivery."

Triwise Capital"Triwise Capital is honored to collaborate with all parties to support Raytne's first round of market-oriented financing. The eye structure is complex and delicate, and eye health spans our entire life cycle, presenting numerous unmet clinical needs. The Raytne team has an in-depth understanding of ophthalmology and, through three years of dedicated research, has successfully built the iSus platform."^®A biodegradable long-acting sustained-release technology platform, and has developed several innovative ophthalmic products that can significantly improve patient medication adherence. We highly recognize the professional expertise and efficient execution of the Raytne team, and will fully support Raytne's development in the future. We look forward to the early market launch of their products to provide better solutions for clinical use."

Jenkem Technology Co.,Ltd.Representative stated: "One of the important applications of polyethylene glycol derivatives is the formation of various types of hydrogels through cross-linking reactions. Hydrogels, as medical devices, have a wide range of clinical application scenarios. Jenkem Technology Co., Ltd., as a well-known domestic producer of medical and pharmaceutical polyethylene glycol derivatives in China, highly values and supports the innovation and industrialization of polyethylene glycol hydrogel medical device products. Raytne has creatively applied polyethylene glycol hydrogels to the field of ophthalmic medical devices in China and made extensive arrangements in this area. Jenkem Technology highly recognizes Raytne's R&D projects and market prospects, and thus participated in this financing process to support the R&D and industrialization of its pipeline, benefiting a large number of patients as soon as possible."

Dalton VentureOphthalmology is one of the key tracks that Dalton Venture has focused on in the healthcare sector. Raytne's technology platform, through the regulation of polymer material formulations, has the potential to achieve sustained release of different drugs over varying durations, thereby providing comprehensive solutions for long-acting drug delivery in numerous eye diseases. The first product innovatively treats dry eye syndrome using a combination of drug and device, offering an imaginative market space. We are delighted to participate in this investment and look forward to working with Raytne to accelerate the launch of innovative products, bringing patients a more comfortable treatment experience and better therapeutic benefits.

The National Innovation Center for High-Performance Medical Devices (referred to as "NICHPMD") was jointly established by leading organizations including the Shenzhen Institutes of Advanced Technology, Chinese Academy of Sciences, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Shanghai United Imaging Healthcare Co., Ltd., Lifetech Scientific (Shenzhen) Co., Ltd., and Harbin Institute of Technology. It received approval from the Ministry of Industry and Information Technology in April 2020. As the first national-level manufacturing innovation center in Shenzhen, it is also the only innovation center established by the state in the field of medical devices. The NICHPMD focuses on the significant demand for high-end medical equipment closely related to healthcare, including prevention, diagnosis, treatment, and rehabilitation. Its key focus areas include advanced medical imaging, in vitro diagnostics and vital signs monitoring, advanced therapies, implantable and interventional devices, as well as rehabilitation and health information. The center is committed to breaking through common core key technologies that drive industry development, completing all stages from technology development, transfer, diffusion to the first commercial application, and building a high-performance medical device industry innovation ecosystem that integrates the innovation chain, industrial chain, and capital chain.

Shenzhen Qianhai Triwise International Capital Management Co., Ltd. (P1030072), established in October 2015, brings together seasoned professionals from industries such as Shenzhen Capital Group, Roche, GSK, BMS, Abbvie, AstraZeneca, and BGI Life, as well as research experts from renowned universities both domestically and internationally. Guided by the value proposition of "investment returning to industry, capital serving industry," Triwise Capital has built an industrial ecosystem, emphasizing original investment and value-based investment. Focusing on life sciences, high-end medical devices, and cutting-edge technology, Triwise Capital facilitates the industrialization of scientific research achievements through collaboration with industry and technology platforms: Shenzhen JiYin Biomedical Transformation Research Institute, National Innovation Center for High-Performance Medical Devices, etc., co-founding ventures with industrial teams and empowering them with capital strength.

Jenkem Technology Co., Ltd. (Stock Code: 688356.SH, hereinafter referred to as "Jenkem Technology") is a high-tech enterprise registered in October 2001 that is committed to the industrialization of medical and pharmaceutical polyethylene glycol derivatives. Registered in Haidian District, Beijing, it is one of the few companies both domestically and internationally capable of industrially producing high-purity, low-dispersion medical and pharmaceutical polyethylene glycol and active derivatives. The company has strong capabilities in the research and development, production of polyethylene glycol materials, as well as the expansion of downstream applications.

Dalton Venture focuses on forward-looking medical innovation technologies and has been the early exclusive investor in several pioneering domestic technology projects. Its investment scope includes VC funds as well as angel funds in the Yangtze River Delta and Greater Bay Area. The core team, with a background in the healthcare industry, has successfully incubated early-stage startups and established and managed publicly listed companies with billions in market value. Committed to not only being a value discoverer but also a value creator, Dalton Venture has been honored with multiple awards such as VC TOP100 and Medical Device TOP20 by ChinaVenture. Selected investment cases: Landing Medical, Hannov Medical, Triastek, HonyBio, Bright Biotech, Shuimu Molecular, Stardust Intelligence, etc.

Dingqi Consulting is dedicated to providing full-process, professional investment and financing consulting services for enterprises in the pharmaceuticals and life sciences sectors. From the perspective of the management team, it offers diversified services that combine corporate think tank consulting with project execution. It conducts pre-planning and mid-process analysis for equity financing and transfer, mergers and acquisitions, joint ventures, and cooperation projects of client enterprises. This enhances the efficiency of advancing the enterprise's investment and financing processes, reduces transaction costs and risks, and assists client enterprises in achieving precise alignment and organic integration with financial market products.