HKUST-Backed Ophthalmic Medical Device Startup Anjiming Medical Secures Tens of Millions in Pre-A Funding
AGMED
Medical Device Provider
Industry Information
Biotechnology Conversion Network learned：On November 26, AGMed Technology Limited (hereinafter referred to as "AGMED") announced the completion of a Pre-A round of financing worth tens of millions of RMB. This round of financing was led by Hengqin Venture Capital, with participation from Shanghai Rongwang and other strategic industry capital. Existing shareholder Yuanming Capital continued to support the company.This round of financing will be mainly used to accelerate the clinical trials and registration applications of innovative medical devices - continuous intraocular pressure monitoring systems, the marketization of corneal analysis systems, and the expansion and upgrading of the team.
CompanyFounder & CEO Qin Zhen is a postdoctoral researcher with a bachelor's, master's, and Ph.D. from the Hong Kong University of Science and Technology. He has dedicated many years to the national high-performance research in the early diagnosis of glaucoma and proposed establishing the first early screening-diagnosis-treatment-long-term chronic disease management system for glaucoma in China.
The founding team of the company, image source: AGMED
In 2016, the AGMED R&D team collaborated with Professor Minbin Yu and his team from the Glaucoma Department of Zhongshan Ophthalmic Center, Sun Yat-sen University, to launch an early glaucoma diagnosis system and implement the transformation of scientific research achievements.Moreover, the company collaborates with multiple scientific research institutions and hospitals, such as the Hong Kong University of Science and Technology and Shenzhen People's Hospital, to jointly advance the development of world-leading technologies and achieve breakthroughs in China-produced high-end ophthalmic diagnosis and treatment devices and systems.
Currently, the company has focused on launchingTwoBlueEarly Diagnosis System for Glaucoma: Corneal Biomechanical Analysis System, 24-Hour Continuous Intraocular Pressure Monitoring SystemThe former is the first tonometer in China that combines corneal biomechanical parameters for glaucoma diagnosis and classification, dynamically analyzing and correcting the intraocular pressure model to obtain true intraocular pressure; the latter is the first non-invasive intraocular pressure detection system in China, which automatically monitors intraocular pressure fluctuations over 24 hours, with soft material for easy wear.
Figure 1:Corneal Biomechanical Analysis System, Figure 2: 24-hour Continuous Intraocular Pressure Monitoring System, Source of the image:AGMED
After three years of relentless efforts, AGMED has made significant achievements in its product pipeline and is proceeding as scheduled. We would like to thank the investment institutions that have consistently supported AGMED. In the current economic downturn, their firm choice and financial backing have greatly encouraged the company. AGMED will continue to focus...Focused on technological breakthroughs and accelerating industrialization, bringing more convenient and accurate medical devices to patients.
The successful closing of this round of financing marks an important progress in the continuous development of AGMed, and also provides strong financial support for accelerating the listing of key products Corneal Analysis System and IOP Monitoring System. This fully demonstrates the recognition of investment institutions for AGMed's innovative technology in the field of glaucoma diagnosis and treatment as well as their confidence in the company’s future development.
>>> About Hengqin Venture Capital
Guangdong Hengqin Jintou Venture Capital Fund Management Co., Ltd. (Abbreviation: Hengqin VC) officially commenced operations in 2018. It is a wholly-owned subsidiary of Gree Group, focusing on early-stage technology innovation project investments and the operation management of government-guided funds. The company manages several funds, including the Phase III Zhuhai Venture Capital Fund with a scale of 5 billion yuan, and the total scale of funds under management is nearly 14 billion yuan. The company adheres to investing early, small, long-term, and in hard tech, having invested in more than 80 early-stage technology innovation projects. The vast majority of these are high-tech enterprises, specialized and sophisticated new enterprises, and science and technology SMEs that possess key core technologies, strong innovation capabilities, and great development potential as hard tech projects. Over 60% of the invested projects have achieved follow-on financing. The company has cumulatively invested in nearly 30 sub-funds with a committed scale exceeding 6.5 billion yuan, leveraging social capital to form a sub-fund cluster with a scale surpassing 30 billion yuan, achieving nearly a five-fold amplification of state-owned capital. The government-guided funds managed by the company have been consecutively ranked among the "Top 30 Government Guided Funds in China" by Zero2IPO for three years and have topped the "Top 10 Best Government Guided Funds in the Guangdong-Hong Kong-Macao Greater Bay Area" by ChinaVenture for four consecutive years, cumulatively receiving over 50 authoritative awards from Zero2IPO, ChinaVenture, and Finance Integration.
>>> About Shanghai Rongwang
Shanghai Rongwang Trading Co., Ltd. is a professional dealer of medical devices, mainly engaged in cardiology, ophthalmology medical equipment, and ophthalmic intraocular lenses. It is the national general agent for the ophthalmic product digital slit lamp from the British Halma Group in China. At the same time, it also acts as an agent for several tonometer products from Keeler, a subsidiary of the Halma Group, including the Keeler contact applanation tonometer for slit lamps, which is currently the gold standard device for intraocular pressure measurement in clinical practice, as well as pen-type applanation tonometers, desktop non-contact tonometers, and handheld non-contact tonometers, possessing abundant resources in the field of ophthalmic equipment.
Rongwang Trading first contacted AGMed in May 2024. They highly value the company's two glaucoma early diagnosis devices: the corneal biomechanical analysis system and the 24-hour continuous intraocular pressure monitoring system. They also deeply appreciate AGMed’s concept of providing an integrated solution for the entire glaucoma treatment cycle, including early screening and diagnosis in grassroots settings and long-term chronic disease management. Rongwang Trading is willing to engage in deeper strategic cooperation with AGMed to achieve industrial synergy across the entire chain from research and development, production to marketing and sales, jointly building an integrated glaucoma diagnosis and treatment service platform.
>>> About Yuanming Capital
Yuanming Capital has long been deeply involved in investment in the healthcare sector, aiming to build leading companies in new drug research and development, innovative medical devices, and high-end medical services in both China and the U.S. The partners consist of well-known entrepreneurs and industry experts with extensive investment experience in the pharmaceuticals and medical device industries both domestically and internationally. They have established the U.S.-China Health Investment and R&D Alliance, Wuhan University Health Alliance, the China Entrepreneurs Forum in Yabuli, and the U.S.-China Business Leaders Roundtable. They also play significant roles in the development of institutions or projects such as the Biotech Advisory Panel of the Hong Kong Stock Exchange, the China Pharmaceutical Innovation and Research Development Association, and the China Association of Medical Equipment.
Yuanming New Zhaoyuan Fund is an early-stage medical device angel fund under Yuanming Capital. It focuses on innovative projects in the early-stage medical device field, primarily in areas such as cardiovascular, neurology, orthopedics, in vitro diagnostics, medical robotics, and advanced radiation therapy industries. The fund targets early-stage medical device innovation projects with development potential and growth value. By integrating domestic and international industry resources, it conducts in-depth exploration of target company value and provides value-added services in multiple areas including product R&D validation, registration and clinical trials, and academic promotion. This shapes its core advantage of "investment + management" and builds a robust industrial ecosystem and resource network.
