In the past week, the medical device sector's investment and financing seem to have heated up again, with multiple companies raising over 100 million yuan. Industry insiders have stated,"This year inMedical Device"In the field, we haven't seen financing at the scale of hundreds of millions of dollars indeed." But what is rare is that there have been several financings of over 100 million yuan in the past week,Let's take a look at which companies are involved and in which popular sectors are they distributed?

Chart: Medical Device Innovation Network

Beijing Huimei Technology Co., Ltd. Raises Over 300 Million Yuan in Series D Round:

Provide a series of solutions for hospitals using artificial intelligence

On September 26, Beijing Huimei Technology Co., Ltd. (hereinafter referred to as Huimei Technology), a provider of medical artificial intelligence solutions, announced the completion of a D-round financing of over 300 million RMB. This round of financing was led by Bellwether Capital, with follow-up investments from Runzhang Venture Capital, Suzhou Yihuo, and other well-known investment institutions. The existing shareholder, Qiming Venture Capital, continued its investment. Taihe Capital served as the exclusive financial advisor for this round of financing.

Huimei Technology is a provider of medical artificial intelligence solutions. The core application of Huimei's medical artificial intelligence solution on the hospital side, Dr.Mayson, incorporates PDCA process management and CDSS technology. Through real-time data analysis and in-process intelligent prompts, it forms a quality control closed loop in clinical diagnosis and treatment decision-making, front page of medical records and running medical records, single disease quality management control and data reporting, clinical diagnosis and treatment risk warning, DRG/DIP cost management, etc., effectively improving medical quality. The product line covers specialized fields such as oncology, respiratory, cardiovascular and cerebrovascular, ICU, and 58 key single diseases monitored by the state. CEO Zhang Qi introduced that since this year, nearly a quarter of old customers have purchased new products, with cumulative cooperative hospitals reaching 700. The latest application cases of Huimei CDSS further confirm the product research direction and application value of Huimei CDSS.

MitrAssist Lifesciences Raises Nearly 100 Million Yuan in Series C Financing:Focus on Cardiovascular Innovative Medical Devices

MitrAssist Lifesciences is a cardiovascular innovative medical device company dedicated to becoming an internationally leading comprehensive cardiovascular platform enterprise. Its products mainly cover interventional heart valve (mitral, tricuspid, and aortic valve) treatment products, interventional coronary drug balloon products, and interventional heart failure treatment products. Recently, it completed a nearly US$100 million Series C financing round.

MitrAssist Lifesciences is one of the world's first companies to develop a mitral valve interventional replacement system and is also a leading provider of cardiovascular interventional product solutions globally. This round of financing will mainly support the clinical development of MitrAssist Lifesciences' mitral valve replacement product and its aortic polymer valve product. The clinical advancement of several core products will mark the comprehensive promotion of MitrAssist Lifesciences’ pipeline in the field of innovative cardiovascular medical devices, which will, to a great extent, address the pain points in the field of structural heart disease for patients in China in the future.

Ligentec Completes Hundreds of Millions of Dollars in D-Round Financing: Deepening Digital Sports Medicine

Recently, Ligentec, a global platform enterprise in digital sports medicine, announced the completion of a D-round financing worth hundreds of millions of yuan. This round of financing was led by CDB Xinda Kunpeng, with participation from Hangzhou Hanshi, China Construction Bank Guomao, and existing shareholder Legend Capital. Heryon Capital served as the exclusive financial advisor for this round of financing. Established in 2014, Ligentec uses globally leading digital sports medicine as its diagnostic entry point, completing a full-process layout from diagnosis + treatment + sports management, covering imaging systems + artificial intelligence, powered devices, implants, and other supporting consumables.

Ligentec takes "Digital Sports Medicine" as its strategic core direction, with three major technology platforms in imaging, active devices, and materials and processes, covering more than 30 product pipelines. It is the world's only sports medicine enterprise that simultaneously covers four major fields: "imaging systems + AI, active equipment, implants, and accompanying consumables."

The dual-plane imaging system is an innovative orthopedic imaging device independently developed by the company. The technology was initially incubated at Harvard University and MIT, with over 300 SCI publications based on this technology. The team has accumulated more than 10 years of orthopedic research experience and established in-depth cooperative relationships with top experts and hospitals in the United States. This product addresses issues such as the lack of functional weight-bearing position images and dynamic information in traditional orthopedic imaging. Through a fast, low-radiation technical approach, it provides doctors with "3D + full-length + weight-bearing position + dynamic" imaging information, offering convenience for orthopedic diagnosis.

Fanzhi Medicine Completes Over 100 Million Yuan in D-Round Financing: Gene Testing in the IVD Field Becomes a Hot Track

Recently, FireGen Medical completed a D-round financing of over 100 million yuan, led by JCC Healthcare Growth Fund, with co-leading investments from金沙江资本 and 知来资本. FireGen Medical is a globally operating biopharmaceutical company, dedicated to building a world-class brand for next-generation rapid gene detection equipment and reagents.

Firely Medical is a globally-operating high-tech biopharmaceutical enterprise, founded by seasoned scientists from the Chinese Academy of Sciences, returned overseas scientists, and clinical experts. It adheres to independent research and development to create an internationally advanced brand for rapid disease diagnosis and treatment. Firely Medical provides society with integrated detection instruments, chips, diagnostic reagents, internet-based remote diagnosis products, and services, being one of the few companies in the industry with a full industrial chain layout.

Over the past seven years, Fan知 Medical has continuously strengthened its industrial chain layout and R&D investment, committed to breaking through key "bottleneck" technologies via independent research and development. It now owns more than 150 authorized patents, promoting a leap from import substitution to China's first domestically produced (set) original innovations. The company has received numerous honors including "Specialized, Precise, Unique and Innovative Enterprise," "Gazelle Enterprise," and "Top 100 China Science and Technology Innovation Enterprises in 2020."

Fan知 Medical has successively solved the miniaturization and intelligent integration of diagnostic instruments, the localization of core key raw materials, and the issue of integrated rapid detection chips. It is one of the few companies in China's rapid disease diagnosis and treatment field with the ability to develop four底层 technologies: nucleic acid, chip, machinery, and software. It has also achieved multi-point differentiated advantages in international brand competition. Since its establishment, Fan知 Medical has obtained US FDA, EU CE, and China NMPA registration qualifications for dozens of product pipelines, entering more than 30 countries and regions.

Quantum Medical Completes C Round Financing of Hundreds of Millions: Leader in China's Medical Imaging Industry

On September 20, 2023, Quantun Healthcare, a comprehensive leading platform in China's medical imaging industry, announced the completion of its C-round financing worth hundreds of millions of yuan. The funds from this round will be used for new product development, capacity expansion, and company operations. According to information on Quantun’s official website, the company’s current product portfolio includes CT, MRI, and DR.

Recently, Quantun Healthcare announced the completion of its C-round financing worth hundreds of millions of yuan. This round of financing was led by CICC Capital, with co-investment from Straits Equity Fund and Zhongchen Guochi, while Heryue Capital served as the exclusive financial advisor for this round. The funds will be used for new product development, capacity expansion, and company operations. Founded in 2011, Quantun Healthcare is composed of the most experienced core management team and senior R&D talent in the medical imaging industry.

At present, China's medical imaging equipment market is in a stage of rapid growth. With the continuous increase in healthcare service demands and the introduction of new medical policies, the growth rate far exceeds that of the global market during the same period. It is projected that by 2024, the size of China's medical imaging market will grow to 1,211 billion RMB. Supported by such a vast market space, China has a significant opportunity to produce more than one industry leader comparable in scale to GPS (GE Healthcare, Philips, Siemens Healthineers). Currently, the per capita ownership of DR, CT, and MR equipment in China lags significantly behind developed countries, and unmet clinical diagnostic needs will bring enormous growth potential to the imaging equipment market, where the localization rate remains relatively low. Although domestic brands are gradually dominating the DR equipment sector with over 90% import substitution, the market share of domestic CT brands is less than 30%, and for MR, it is under 20%, indicating substantial future growth potential.

Jiangsu Chuangjian Medical Over 200 Million Yuan in B-Round Financing: Recombinant Collagen Protein Becomes the Next "Trend"

Recently, Jiangsu Chuangjian Medical Technology Co., Ltd. successfully signed its Series B financing round, raising over 200 million yuan. The round was jointly led by the first RMB fund of L Catterton, the world's largest consumer-focused investment firm, and CLSA Capital, a global USD private equity investment platform under CITIC Securities. CDH Investments and Mingfeng Capital also participated as follow-up investors. The funds will mainly be used for industrialization advancement, innovative technology research and development, and overseas market expansion.

In June 2015, Alpha Biomed was established in Changzhou, focusing on the R&D and production of novel biomaterials and innovative proteins. It is a leader in China's recombinant collagen protein industry. The company utilizes cutting-edge synthetic biology technology to provide green and sustainable innovative raw material products for markets such as medical, cosmetics, personal care, and nutrition. To date, Alpha Biomed has served more than 30 listed companies.

In recent years, recombinant collagen protein prepared through synthetic biotechnology has shown rapid growth momentum in the cosmetics industry. Many investors regard it as the next "trend" and have been making arrangements accordingly. In July 2022, Chuangjian Medical received Series A funding led by Shiseido's Ziyue Fund, with participation from Huafang Capital, Dinghui Baifu, and Huali Pharmaceutical, totaling nearly 200 million yuan.

"Recombinant collagen is a 'Chinese ingredient' that truly represents the height of innovation in China's cosmetic raw material research and development," said Qian Song, CEO of MitrAssist Lifesciences.

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As the economic growth slows down, medical anti-corruption measures tighten, and IPOs become more restricted, various factors have led to a bleak picture in the current investment and financing market. Valuations are lackluster, exit pathways are uncertain, funding sources have narrowed, and the capital market reflects a prevailing sense of caution, with careful investment approaches dominating.

However, several mature-stage companies have secured substantial financing, reflecting that even in a sluggish market, some enterprises can stand out. This also indirectly indicates that the products and structures of these sectors or companies themselves are recognized by the market.

From a macro perspective, the overall investment strategy for 2023 and the second half of 2023 still focuses on the innovation mainline. For medical device companies, enterprises must possess independent intellectual property rights and product barriers while also having significant market growth potential. Through the financing of several companies mentioned above, we can see that high-end imaging, genetic cancer testing, recombinant collagen protein, and cardiovascular innovation fields are currently in hot tracks, full of infinite possibilities. In the future, we also expect more and more Chinese innovative enterprises to stand out and emerge stronger from challenges.

丨Source: Medical Device Innovation Network