Shixi Biologics Completes Tens of Millions RMB in Series Angel+ Financing; Industry Regulatory Crackdown Intensifies

June 2News on the 8th: Nucleic Acid Drug DevelopmentRecoRNA Completes First Close of Angel+ Round Financing Worth Tens of Millions of YuanThis round of financing was jointly led by Beijing Life Science Park Ventures, TianTu Investment, and Yiyi Capital, with follow-up investments from BeiGene BioIsland Innovation Center, and continued support from Xiaochi Capital. Haoyue Capital served as the exclusive financial advisor.This round of financing will be used for the research and development of the company's core projects, clinical applications, and team expansion.

RecoRNA was founded in December 2021, established through the transformation of research results from Professor Rui Zhang's laboratory at Sun Yat-sen University's School of Life Sciences. It is currently located at the BeiGene Innovation Center on Guangzhou Bio Island. Based on RNA editing technology, RecoRNA’s leading pipeline under development primarily targets neurological diseases and has completed molecular research, now in the preclinical stage, with an anticipated IND application in 2025. The company’s subsequent pipelines will focus on cardiovascular and cerebrovascular diseases, neurological diseases, respiratory system diseases, anti-aging, and other areas.

Source of Information:21st Century Economic Report

The chaos in the medical aesthetics industry has been longstanding and widely known. In recent years, various industry malpractices have even sparked heated discussions among representatives at the Two Sessions. During media interviews, several representatives pointed out that medical aesthetics possess both medical and consumer attributes, involve multiple regulatory bodies, and that the sustained and healthy development of the medical aesthetics industry cannot be achieved without standardized and efficient industry oversight.

On the eve of this year's March 15, the Supreme People's Procuratorate released typical cases representing the working mechanism for connecting and transforming proposals from people's congress deputies, CPPCC members, and public interest litigation procuratorial suggestions. Among them, the "Administrative Public Interest Litigation Case of the People's Procuratorate of Kuiwen District, Weifang City, Shandong Province, Urging the Rectification of Illegal Operations of Medical Aesthetic Institutions" has drawn widespread attention.

This also means that the medical aesthetics industry is about to bid farewell to the era of unchecked growth and step into a new era of high-intensity, refined regulation. Therefore, medical aesthetics platforms represented by So-Young are also facing new challenges as the industry moves towards standardization and even reshuffling.

Notably, So-Young, as a medical aesthetics platform, is a hotspot for consumer complaints. For instance, data from the Consumer Protection Platform shows that in 2024, among consumer complaints in the medical aesthetics industry, So-Young ranked third in the industry for the number of complaints.

Moreover, the new So-Young under the new situation has long lost its glory, and its performance in the secondary capital market has also been unsatisfactory for investors. The current stock price of around 1 dollar has placed So-Young on the brink of delisting from the US stock market.

Source of Information:Yu Jian Column

Recently, Dongguan Nancheng Meijia Beauty Medical Clinic Co., Ltd. was warned and fined RMB 10,000 by the Nancheng Subdistrict Office of Dongguan City for failing to fill in medical records as required.

According to the announcement, on May 21, 2024, Dr. Jin Tao of the company filled out medical records such as "Outpatient Medical Record (Initial Diagnosis)", "Project Record Registration Form", "Laser Beauty Treatment Record", and "Skin Beauty Informed Consent Form". However, much of the content, including patient age, medical record number, chief complaint, present illness history, past medical history, personal history, specialized examination, auxiliary examination results, diagnosis, treatment plan, precautions, and follow-up plan, was largely left blank. This behavior violates Article 3 and Paragraph 2 of Article 13 of the Basic Standards for Medical Record Writing.

Dongguan Nancheng Meijia Beauty Medical Clinic Co., Ltd. violated Article 15, Paragraph 1 and Article 47, Item (4) of the Regulations on the Prevention and Handling of Medical Disputes, constituting a violation of failing to fill in medical records as required. The Nancheng Subdistrict Office of Dongguan City issued a warning and imposed a fine of RMB 10,000.

Recently, Mang City People's Court, Mang City People's Procuratorate, Mang City Justice Bureau, and Mang City Health and Wellness Bureau held a joint meeting to combat illegal medical aesthetics, forming a united force against such activities to effectively protect the health rights of local residents.

Vice President Liu Hongyun of Mangshi Court introduced the basic situation and main practices in hearing medical beauty dispute cases in recent years. She conducted an in-depth analysis of the difficulties and issues regarding administrative penalties for illegal medical beauty activities in judicial practice, and proposed corresponding suggestions and countermeasures. The participants engaged in in-depth discussions on the causes of medical beauty disputes, existing problems in prevention and handling, and resolution efforts. They exchanged opinions and suggestions, further enhancing mutual understanding.

The court of Mang City will continue to promote the linkage between the government and the court, as well as the joint construction of the rule of law. This aims to form a multi-party collaborative governance model for medical aesthetics industry disputes, urging medical aesthetics enterprises to strictly fulfill their obligations, enhancing the public's legal awareness and risk prevention capabilities, and guiding consumers to make rational consumption decisions and protect their rights according to the law.。