Yaoshi Medical Secures Tens of Millions in Series A Funding to Accelerate Global Launch of World-Leading Electronic Scanning Mirror-Based Ultra-Widefield SLO

VCBeat learned第一时间获悉，近日，Yaoshi (Suzhou) Medical Technology Co., Ltd. ("Yesight Medical") has completed a multi-million yuan Series A round of financing. This round was led by Delian Capital, with continued investment from existing shareholder Boxin Capital. WinX Capital served as the exclusive financial advisor.After this round of financing, Yesight will further accelerate the clinical registration and production of its ultra-widefield confocal laser scanning ophthalmoscope (Scanning Laser Ophthalmoscope, SLO) product, as well as the research and development of multiple innovative ophthalmic optical devices, continuing to lead the industry. Yesight has completed two rounds of financing in less than a year, fully demonstrating the capital market's recognition of the company.

Yesight is an innovative ophthalmic optical device platform technology enterprise that integrates R&D, production, sales, and AI big data research. The company's headquarters is located in Suzhou, China, with a research institute in Japan. At this stage, the team focuses on the development of SLO ultra-widefield confocal laser scanning retinal camera technology for ophthalmic diagnosis, with product parameters reaching world-leading levels. Based on confocal laser scanning imaging technology and integrated circuit technology, the company has developed an internationally advanced SLO ultra-widefield confocal laser scanning ophthalmoscope, as well as multiple innovative diagnostic and screening devices for ophthalmic diseases.

Ophthalmology: The Golden Track in the Capital Market

According to the data from the National Health Commission and the National Bureau of Statistics, China has a large number of ophthalmic patients. The number of people with refractive problems alone has exceeded 800 million. In addition, the increasing incidence rates of cataracts, glaucoma, macular degeneration, and other conditions have led to over 1 billion cases of eye disease in China.As the most important equipment for routine examination and preliminary diagnosis in ophthalmology, fundus cameras will serve almost all patients with ophthalmic diseases in China and have broad market potential in the future.

Fundus Camera Application Scenarios

Data source: 2020 National Vision Health Report

Traditional fundus cameras have clinical technical bottlenecks such as a small fundus imaging field of view (about 45°), high minimum pupil requirement (above 3.3mm), poor LED optical penetration (unable to capture the deep fundus), and unclear fundus vascular imaging, which can easily lead to missed diagnoses of peripheral lesions in clinical practice. To address these clinical pain points, the ultra-widefield confocal laser scanning ophthalmoscope was developed. Compared with traditional fundus cameras, ultra-widefield devices offer clearer views and a broader field of vision, making them the best tool for fundus diagnosis.

However, at present, the Chinese fundus camera market is still dominated by traditional optical fundus camera technology, mostly occupied by overseas international brands such as Japan's Topcon and Japan's Canon. As ophthalmologists increasingly demand a wider fundus imaging range and higher clarity of fundus images, the demand for ultra-widefield confocal fundus cameras in China is steadily growing. However, there is heavy reliance on imports from overseas, and the prices are expensive, with the current terminal hospital admission price generally exceeding 1.5 million yuan.

Yesight has developed the world's first SLO ultra-widefield confocal laser scanning ophthalmoscope using electronic scanning mirror technology, with fully independent intellectual property rights. It features wide-field fundus imaging, no need for pupil dilation, strong penetration through refractive media, fast imaging speed, and clear images. It can effectively address the clinical pain points of traditional optical fundus cameras and is expected to break the overseas monopoly in high-end SLO ultra-widefield confocal laser scanning ophthalmoscope technology.

This SLO from Yesight is also one of the first SLO ultra-widefield confocal products in China to undergo clinical validation.Currently, this product has initiated clinical trials in China, led by top domestic ophthalmology hospitals and top industry Principal Investigators (PIs). All performance indicators are on par with imported products. From a data perspective, Yesight's single-field angle of view achieves an ultra-wide 168 degrees (optical incident angle of 113 degrees). Moreover, its multi-spectral confocal laser scanning imaging technology fully covers the diagnostic areas of all 10 retinal tissue layers, providing broader, more comprehensive, and clearer fundus color images and clinical data.

The Yesight medical team is composed of domestic and international experts and engineering technicians with advanced technical expertise. The team's strong engineering R&D capabilities, combined with its international perspective and experience, as well as its deep understanding of clinical needs, enable the company to continuously develop and produce innovative ophthalmic medical devices. This positions the company to provide high-quality solutions for a wide range of ophthalmic patients and medical staff in China and overseas.

Currently, the company has launched exclusive strategic cooperation with a well-known Japanese technology listed company to jointly layout the domestic and international ophthalmology market. In addition, it has signed a framework sales agreement for some products with one of Japan's top three eyewear store groups.The product technology has been recognized by large overseas enterprises, laying a solid foundation for the internationalization of the company's products.

Yesight CEO Haizhou WuExpressed: Thanks to Delian Capital and the old shareholder, Boxin Capital, for their trust and support. Yesight has always been committed to achieving a society with universal eye health through the early diagnosis and treatment of eye diseases. Since its establishment in 2020, the company has developed rapidly. The team, based on decades of advanced ophthalmic optical technology accumulated in Japan, has created the SLO ultra-wide-angle confocal laser scanning ophthalmoscope, breaking the monopoly of imported high-end ophthalmic equipment. The demand for ophthalmology in China continues to grow, and domestically produced alternatives are set to rise. In the future, the company will continue to develop high-end ophthalmic disease screening and diagnostic equipment with clear image quality, simple operation, and stable quality, covering more than 90% of the fields of ophthalmic disease diagnosis including fundus, anterior segment, optic nerve, and refraction. We hope to promote the development of the industry through advanced ophthalmic equipment technology.

Li Zhongbao, Vice President of Delian CapitalFundus diseases are one of the leading causes of irreversible blindness, and fundus cameras are widely used for fundus examinations in clinical settings. Due to limitations such as small field of view and poor penetration of conventional optical fundus cameras, a new type of ultra-widefield laser fundus camera has rapidly gained market share in China in recent years, with imports dominating the market. The Yesight team, originating from Japan's top ophthalmic companies, has developed the world’s first SLO ultra-widefield confocal laser scanning ophthalmoscope based on an electronic scanning mirror, leveraging their deep technical expertise and extensive industry experience. This device combines high performance with low cost. It is the first domestically produced laser SLO to undergo formal clinical trials and directly compete head-to-head with imported brands, earning recognition from many leading principal investigators (PIs) in the field of fundus diseases. We look forward to the company's product reaching the market soon to contribute to the screening of eye diseases in China.

Lan Zhang, Partner of Bower CapitalOphthalmology is one of the key investment areas for Bofrontier Capital. Bofrontier Capital continues to have strong confidence in Yesight's innovative R&D capabilities and global resources. We are very pleased to have the opportunity to support Yesight with early-stage investment and to increase our investment in this round. We look forward to the company launching several ophthalmic devices in the near future, benefiting more patients.

Founded in 2011, Delian Capital has always focused on technology and innovative medical fields, paying close attention to early-stage technological innovation projects. It covers细分 industries such as semiconductors, intelligent equipment, cloud-native, new therapies, and IBAT, and has invested in more than 100 projects, including: Deepeka Microsystems, Chipstech, Nanjing Hongtai, Intron Robotics, Lox Technology, Mech-Mind Robotics, Fit2Cloud, Venus Medtech, Sanbo Brain Hospital Group, Amunix, HiFiBiO, ZhiShanWeiXin, ChenAn Biotech, etc.

Boxin Capital is an early-stage medical investment venture capital firm founded by partners with extensive experience in the healthcare industry. Currently managing 2 billion RMB in funds, it has invested in over 40 innovative medical device and healthcare service companies with significant market potential. Many of these companies have grown into leaders in their respective niche markets, and several projects have successfully gone public or achieved profitable exits. The investors behind Boxin Capital include top-tier domestic fund-of-funds, industrial capital, healthcare entrepreneurs, and seasoned investors. With in-depth industry research, clear investment logic, and comprehensive post-investment management capabilities, Boxin Capital has gained continuous support from its investors, earned long-term respect from entrepreneurs, and remains committed to being a long-term partner for top-tier professional investors and entrepreneurs in China.

WinX Capital is a leading investment bank in China's healthcare sector, headquartered in Beijing and Shanghai, covering over 3,000 active investment institutions and industry groups. It has been awarded "Top 1 Financial Advisor in the Healthcare Sector for 2022" by First New Voice, "Top 2 Best Financial Advisor in the Healthcare Sector for 2021-2022" by Qimingpian & New Voice Venture Services, "VCBeat 2022-2023 Orange Award - Top 5 Annual Healthcare Financial Advisor," among many other honors.