Fuhan Medical Secures Tens of Millions in Series A Funding Led by Jinyu Maowu to Advance Pediatric Ophthalmic Innovation

In January 2024, Fuhan Medical (Jiangsu Fuhan Medical Industry Development Co., Ltd.) completed a multi-million yuan Series A financing round. Fuhan Medical focuses on the product development of advanced pediatric contact optometric systems. This diagnostic system is currently dominated by American companies Natus and Phoenix, with nearly monopolistic control in China. Particularly in the field of pediatric ophthalmic screening, which is widely promoted in developed countries, accessibility remains extremely low in developing countries due to the high costs.

Fig. Fuhan Medical's office address in Jiangbei New Area

This round of financing was led by Jinyu Maowu, with follow-up investments from renowned medical industry listed companies. The funds raised in this round will be dedicated to accelerating the Kiretem series of ultra-wide-field fundus cameras in breaking the market monopoly held by international brands, expediting the research and development and registration of a series of pediatric OTC innovative products, and realizing the cross-border export of high-quality Chinese products.

 Fig. Fuhan Medical's KRS01 Product Already on the Market and Products in Registration

Fuhan Medical was established in 2018. The founding team comes from leading international enterprises in the medical industry and national key laboratories. It possesses fully independent intellectual property rights for underlying technologies in advanced optometric equipment development: ultra-wide-angle high-definition lens modules, KNT wireless real-time image transmission technology, lesion qualitative and quantitative analysis, intelligent quality control and capture, intelligent mosaicking and partitioning, and intelligent noise reduction, among others. It has obtained more than 50 patents and software copyrights. Based on the above-mentioned underlying technologies, the company has developed China's first 160-degree ultra-wide-angle contact lens and the first contact OCT optical lens.

Recently, the Jiangsu Provincial Medical Products Administration proposed to approve Fuhan Medical's self-developedThe world's first ophthalmic Optical Coherence Tomography (OCT) scanner (model: Kiretem-OCT) has entered the innovative product registration process. This product is the only OCT device in China and abroad suitable for infant fundus imaging, effectively filling the technical gap for contact-based OCT applicable to infants both in China and globally.Self-developed contact optical lens fully meets the clinical needs of pediatric ophthalmologists for OCT imaging, offering significant social value.

 Fig. Review Results of Innovative Medical Device Product Registration Applications

Fuhan Medical has formed a research and development operation system with interaction between medical and engineering fields. For example, the 160-degree ultra-wide-angle technology stems from reducing clinical misdiagnosis issues, while automatic quality control, shooting, and intelligent zoning are derived from solving problems related to accurate image and lesion recognition and improving diagnostic efficiency. This R&D operation system will iteratively produce more innovative technologies driven by clinical needs and form new product pipelines, building a smart neonatal diagnosis and treatment system. It aims to break the monopoly of foreign brands in the field of contact optometry, enhance the accessibility of advanced technologies, and serve a wide range of newborns, children, and surgical patients in diagnosing and treating eye diseases, striving to practice "technological innovation for a brighter future."

Mr. Ren Zhixiang, Chairman and General Manager of Fuhan MedicalExpressed: Thanks to new and old shareholders for their support and recognition of Fuhan Medical. Fuhan Medical has been committed to the independent research and development of pediatric ophthalmic optical detection systems. Relying on solid technical accumulation and efficient medical-engineering collaboration, in April 2023, it launched the first-generation wide-field retinal imaging system for children, which received unanimous acclaim from both clinical and market sectors, achieving listing in the same year and completing tenders and bids amounting to tens of millions for hospital use within the same year. At the same time, we have deeply cooperated with dozens of benchmark hospitals nationwide, continuously strengthening the integration of medical and engineering as well as academic and engineering efforts, successively developing a series of new product pipelines created to meet clinical needs. The completion of this round of financing will provide more sufficient financial support for promoting the launch of new products.

Li Hongsen, General Partner of Jinyu Maowu Investment ManagementRepresentation: Jinyu Maowu's medical team has long been dedicated to investing in innovations within the medical and pharmaceutical fields, focusing on early-stage and small-scale investments. They pay particular attention to addressing "bottleneck issues" in niche segments of the industry. Early and precise diagnosis, timely treatment, and intervention for neonatal and infant fundus diseases are crucial methods used by developed countries to keep the incidence of amblyopia, strabismus, and other eye conditions low. However, the high cost of foreign products has restricted the application of this technology in developing countries, including China. Fuhan Medical's team has fully leveraged its previous experience from international giants and the engineering resources available domestically, while closely collaborating with clinicians to facilitate the transformation of medical-engineering integration. With ultra-high R&D speed and execution capabilities, they have achieved complete self-reliance in technological accumulation, intellectual property, and supply chain systems across optics, hardware and software, AI algorithms, and communication technologies. This has significantly reduced product costs and expedited the process of obtaining regulatory approval to quickly bring their products to market for sales. We believe that under the leadership of Chairman Ren, Fuhan Medical will use pediatric ophthalmic optical equipment as a starting point to rapidly establish a strong foothold in this specialized niche market and look forward to an even broader future.