Weekly Health Industry Report: First Dental IPO of the Year Launched; Winning Health Partners with China Unicom Digital Intelligence Healthcare

The First Oral IPO Born

Recently, the first dental IPO of 2024 was born — Aidite (Qinhuangdao) Technology Co., Ltd. (hereinafter referred to as "Aidite") landed on the ChiNext Board. The company has attracted a group of investors including Legend Capital, CICC Qicheng, CITIC Securities, CD Capital, Xiamen C&D Venture Capital, and Alibaba Network. According to the prospectus, Aidite's total revenue in 2021, 2022, and 2023 was 545 million yuan, 603 million yuan, and 780 million yuan respectively, with a compound annual growth rate of 19.63%; the net profit attributable to shareholders for these three years was 55 million yuan, 116 million yuan, and 147 million yuan respectively, with a compound annual growth rate of 62.95%, demonstrating high profitability. (Source: Arterial Network)

Winning Health Technology Group Co.,Ltd. and China Unicom Digital Intelligence Healthcare Company Reach Strategic Cooperation

Winning Health Technology Group Co., Ltd. and China Unicom Digital Intelligence Medical Company Sign Strategic Cooperation Agreement to Jointly Promote Innovation in the Medical Industry and Enhance New Quality Productivity

Junshi Biosciences Achieves Major Breakthrough in Monoclonal Antibody Drug: Secures 10 Indications, 6 Already Covered by Medical Insurance

Junshi Biosciences' self-developed anti-PD-1 monoclonal antibody drug, Toripalimab, has been approved for 10 indications in China, with 6 of them included in the national medical insurance directory. The drug has demonstrated efficacy in multiple types of tumors and is currently undergoing clinical trials worldwide. Toripalimab has become an important treatment for various cancers and achieved breakthroughs in the international market. (Source: China Pharmaceutical Network)

Fosun Pharmaceutical Announces Privatization of Controlling Subsidiary Shanghai Henlius Biotech, Inc. for No More Than HKD 5.407 Billion

Fosun Pharmaceutical Announces Privatization of Controlling Subsidiary Shanghai Henlius Biotech for up to HKD 5.407 Billion in Cash and/or Stock Swap to Acquire All Shares. Shanghai Henlius Biotech is Mainly Engaged in the R&D, Production, Sales, and Related Technical Services of Monoclonal Antibody Drugs. Additionally, Fosun Pharmaceutical Recently Sold Part of Its Stake in India's Gland Company to Repatriate Funds. (Source: IVD Information)

RecoRNA Completes First Close of Angel+ Round Financing Worth Tens of Millions of Yuan

In June 2024, RECORNA (Guangzhou) Biotechnology Co., Ltd. ("RecoRNA" hereinafter), a research and development company specializing in innovative drug development through RNA-targeting technology, successfully closed the first tranche of its multi-million-yuan angel+ round of financing. This round was co-led by Beijing Life Science Park Ventures, TianTu Investment, and Yiyi Capital, with participation from Xitu Innovation Investment and BioIsland Innovation Center of BeiGene, Ltd. ("BeiGene Innovation Center"), alongside continued investment from Xiaochi Capital. Hoyer Capital served as the exclusive financial advisor. The proceeds will be used for the R&D of core projects, clinical applications, and team expansion. (Source: Arterial Network)

TowardPi Completes RMB 200 Million Series D Financing

Recently, TowardPi, a leading enterprise in China's high-end ophthalmic medical device industry, has completed its D-round financing of 200 million yuan. This round of financing was led by Matrix Partners, with participation from institutions such as GaoTec Investment. Established in 2017, TowardPi's core technology originates from the transformation of scientific and technological achievements at Tsinghua University, and its core technical team consists of dozens of Tsinghua teachers, students, and alumni. Since its inception, the company has achieved breakthroughs in multiple categories of high-end ophthalmic equipment through the vertical integration of clinical ophthalmic needs, innovative system functions, and high-performance upstream components. (Source: Arterial Network)

TowardPi (Beijing) Medical Technology Co.,Ltd Completes Over 100 Million Yuan Pre-A Financing for Bispecific ADC Drug R&D Platform

Recently, Phrontline Biopharma, a leading bispecific antibody ADC company in China, announced the completion of a Pre-A round of financing exceeding 100 million yuan, exclusively invested by Decheng Capital, with Index Capital serving as the exclusive financial advisor. Following this round of financing, Phrontline will increase its R&D investment, accelerate the advancement of multiple preclinical pipelines, upgrade its proprietary technology platform, and move closer to its vision of "becoming a global leading pharmaceutical company." (Source: Arterial Network)

RecoRNA Completes Tens of Millions of Yuan in Angel Financing

Recently, Hangzhou WeiYuan Biotechnology Co., Ltd. (hereinafter referred to as "WeiYuan Biotech") completed an angel round of financing worth tens of millions of yuan. This round of financing received strong support from multiple industrial funds. The raised funds will be mainly used to accelerate the transformation and upgrading of the company’s pilot platform for chiral compounds and efficacy evaluation system for natural products, as well as to advance the commercialization process of key projects. This will help further optimize and enhance the engineering transformation of the company's technical systems and inject strong momentum into the company’s future sustainable development. (Source: Arterial Network)

In 2023, the sales revenue of traditional Chinese medicine in physical pharmacies in Chinese cities exceeded 120 billion yuan.

Latest data from MiNe Network shows that in 2023, the sales of traditional Chinese medicine (TCM) in physical pharmacies in Chinese cities exceeded 120 billion yuan, with a slight year-on-year decline. Sales of 220 TCM products surpassed 100 million yuan, of which 123 showed positive growth (77 with an increase of over 10%). In terms of sales, the combined revenue of 77 TCM products exceeded 39 billion yuan, with two blockbuster products each surpassing 5 billion yuan leading the way. In terms of growth rate, 15 TCM products increased by over 50%, including four that surged by more than 100%. Among the 77 TCM products, 40 were exclusive varieties (including exclusive dosage forms), with two products each from Sinopharm and China Resources listed. (Source: MiNe Network)

Beijing Municipal Medical Security Bureau Issues the "Administrative Measures for Handling Illegal and Irregular Acts in the Field of Medical Security in Beijing (Trial)"

Recently, in order to strengthen the supervision of medical security funds, further implement the regulatory responsibilities of medical security funds, and enhance the administrative handling of illegal activities in the field of medical security, the Municipal Medical Security Bureau has formulated the "Interim Measures for Administrative Handling of Illegal Activities in the Field of Medical Security in Beijing" based on the requirements of relevant laws, regulations, and normative documents such as the "Social Insurance Law of the People's Republic of China," the "Basic Medical and Health Promotion Law of the People's Republic of China," the "Regulations on the Supervision and Administration of the Use of Medical Security Funds," the "Interim Measures for the Administration of Designated Medical Institutions under Medical Security," and the "Letter from the Office of the Institutional Organization Committee of the Beijing Municipal Committee of the Communist Party of China on Adjusting the Power List of the Beijing Municipal Medical Security Bureau." (Source: Beijing Municipal Medical Security Bureau)