News on December 27: Hangzhou Xiran Medical Device Technology Co., Ltd. (referred to as "Rhino Health"), a developer of high-end ophthalmic surgical equipment, has completed nearly 100 million yuan in Series A financing. This round of financing was led by Legend Capital, with continued support from existing shareholders Taiyu Investment, StarVest Capital, DTC Innovation, and Daoyuan Capital. Yiran Capital served as the exclusive financial advisor.

Rhino Health, established in 2020, is a technology-based ophthalmic surgical equipment manufacturer and also an ophthalmic product company that provides one-stop training services for surgeons. Core products include phacoemulsification systems, vitrectomy surgery systems, ultrasonic vitrectomy, laser vitrectomy systems, and intraoperative OCT.

According to Zhang Chi, the founder of Rhino Health, despite the difficulties in financing this year, Rhino Health has still gained recognition and trust from many investors, securing nearly 100 million yuan in funding. This indicates the market's approval of the ophthalmology sector and Rhino Health. The funds from this round will be used not only for registration and clinical trials but also for new R&D pipelines.

Currently, Rhino Health's GMP factory has commenced production, capable of producing millions of ophthalmic surgical consumables annually to meet market demands both in China and internationally.

The first phacoemulsification and vitrectomy integrated machine Genesis has completed type inspection and will be submitted for registration within the year. More than 10 types of ophthalmic surgical consumables will be submitted simultaneously.

Zhou Quan, Managing Director of Legend Capital, said:Phacoemulsification and vitrectomy are two core procedures in the field of ophthalmic diseases, covering multiple important indications. In China, phacoemulsification and vitrectomy surgical equipment and consumables have long been monopolized by imported manufacturers, leading to high costs and a strong demand for domestically produced alternatives. The founding team of Rhino Health has deep expertise in the phacoemulsification and vitrectomy device industry, with extensive experience in research and development as well as market sales resources. Leveraging their profound understanding of the industry and robust technical capabilities, the team independently developed a complete product system of equipment and consumables, continuously iterating and improving to deliver a high-performance, low-cost, flexible, and convenient solution that better meets domestic clinical needs while addressing the pain points of payment in China. We look forward to Rhino Health achieving a breakthrough as the first domestic provider in the important field of ophthalmic phacoemulsification and vitrectomy!

Dr. Ji Tianrong, founding partner of Taiyu Investment, said：Taiyu Investment continues to focus on the ophthalmology market. Nearly all high-end ophthalmic devices in China are monopolized by foreign brands, presenting a significant opportunity for import substitution. The Rhino Health team has deep expertise in the research and development of ophthalmic devices as well as market operations. Multiple ophthalmic surgical instruments are gradually moving from the lab to clinical settings, with leading performance that better aligns with the operational habits of Chinese ophthalmologists, offering the potential to break foreign monopolies. We are delighted to continue our partnership with Rhino Health, working together to bring their products to market and deliver more benefits to patients in China and even globally.

Sun Xiaolu, Managing Partner of Proxima Capital, stated:We have always been paying attention to the ophthalmology field and believe that this area will definitely give rise to some outstanding enterprises. Rhino Health focuses on fundus diseases with strong technical barriers. The entire team possesses solid professional backgrounds and demonstrates extremely strong execution capabilities. We look forward to the company achieving more milestones and rapidly bringing its products to market.

Sun Qi, founding managing partner of Daotong Investment, said:Honored to participate in Rhino Health's current round of financing, actively supporting the development of leading enterprises in China's ophthalmic medical device industry. With the rapid growth of China’s economy and the deepening of its aging population, the demand for diagnosis and treatment of ophthalmic diseases continues to rise. Rhino Health has the top team in this field in China. We look forward to them seizing this market opportunity, accelerating the commercialization of domestically produced equipment, and bringing good news to a vast number of Chinese patients suffering from ophthalmic diseases.

Zhang Dafeng, Chairman of Daoyuan Capital, stated:Ophthalmology is one of the core fields in Daoyuan's strategic layout, with Daoyuan Capital having invested across the entire sub-sector industrial chain, including ophthalmic pharmaceuticals, devices, and chain hospitals. Essential equipment and consumables for ophthalmic surgeries, such as phacoemulsification and vitrectomy systems, have long been monopolized by international giants. Rhino Health, with its seasoned clinical and technical team, aims to break this import monopoly. Besides providing domestically produced alternatives, the company is committed to continuous innovation, which is the primary reason for Daoyuan's ongoing investment in Rhino Health.

Hao Fangran, Partner of Yiran Capital, said:The ophthalmology sector is a direction that Yiran Capital continues to favor and invest in. Ophthalmic surgical equipment and consumables have high technological barriers and have thus been monopolized by imported brands for a long time. Rhino Health is committed to breaking through the technical bottlenecks of Chinese-produced products and disrupting the current market landscape, gradually achieving import substitution in the phacoemulsification and vitrectomy fields. Currently, the company's team configuration, product performance, and progress are all at the leading position. We also look forward to the early launch of the products to benefit patients!

Source of the article: Investment Circle

Disclaimer: This article is intended solely for the purpose of information transmission and is for reference only. It does not constitute any advice on investment or treatment; please evaluate carefully. If it involves issues related to the content, copyright, or other aspects of the work, to protect the rights and interests of both parties, please contact us and we will handle it immediately. If any platform reprints this article, it must take responsibility for the content of the article itself. The Medical Device Innovation Network is not responsible for any secondary dissemination caused by reprints.

 END 

PAST/ISSUE/REVIEW

Electrophysiology Leader, Spends Over 800 Million Yuan to Build New Headquarters

Due to Explosion Risk! Just Now, Philips Issued a Level-One Recall of Over a Hundred MRI Machines

After Spine Exits China, Orthopedic Giant Sells the Business for 2.68 Billion