Ruitai Bio Completes Nearly CNY 100 Million Series A+ Financing to Accelerate Commercialization of Ophthalmic Innovative Devices and Regenerative Medicine Products

VCBeat learned at the first time,Recently, Guangzhou Raytec Biotechnology Co., Ltd. (hereinafter referred to as"Raytec Biotechnology") announced the completion of nearlyHundred MillionRMB yuanA+ Round Financing. This round of financing was led by Green Pine Capital, with participation from Zhongda Venture Capital and well-known industry capital. Existing shareholder HM CAPITAL continued to increase its investment, and VCBeat served as the exclusive financial advisor.

Raytec Biotechnology was founded in 2014 as an innovative device platform company focused on ophthalmology. The company's headquarters is located in Guangzhou, with research, development, and production bases in Chengdu. Raytec Biotechnology owns the first domestically approved wet bio-synthetic amniotic membrane product, RuiXiuFu®, and has submitted for registration the imported Australian scleral lens product, Epicon A®, which is expected to be approved in the first half of 2023. The company currently has innovative device deployments in areas such as ocular surface, vision correction, glaucoma, and macular holes in the retina. It will achieve technological breakthroughs on its regenerative medicine materials platform, incubating a series of innovative ophthalmic products that address urgent clinical needs.

Biological amniotic membrane, derived from the human placenta, is rich in more than 100 types of cytokines, promoting tissue repair and reducing inflammatory stimulation. It is suitable for various ophthalmic surgeries such as pterygium excision and glaucoma trabeculectomy, reaching an annual surgical volume of over 2 million procedures. Since its market launch in April 2020, Raytec Biotechnology's hydrated biological amniotic membrane has been listed in 26 provinces and sold in more than 300 tertiary hospitals in China, as well as in chain ophthalmology groups like Aier, Huaxia, and Heshi Ophthalmology. Besides ophthalmology, biological amniotic membranes are widely used overseas in wound care, surgery, spine, sports medicine, trauma, and other fields. Currently, Raytec Biotechnology has initiated the approval process for these applications.

Raytec Biotechnology's Wet-State Amniotic Membrane Product RuiXiuFu®

Scleral lenses are a special type of RGP (rigid gas-permeable contact lenses) that form a "reservoir" between the cornea and the lens, filling in irregularities on the corneal surface, keeping the cornea hydrated. They are mainly used to improve irregular corneal astigmatism, moderate to severe dry eye, and other ocular surface diseases. In the United States, annual sales of scleral lenses maintain a growth rate of over 45%. The Epicon A® scleral lens introduced by Raytec received special approval from the National Medical Products Administration (NMPA) in 2021, becoming one of the 11 pilot products for clinical real-world data applications. The company has completed its real-world study and submitted the application materials, and it is expected to be approved for marketing in the first half of this year. Epicon A® is expected to become the first certified scleral lens product in China, filling a gap in the domestic market.

The company's product under development, Raytec Vision^TMMinimally Invasive Glaucoma Micro-Stent Provides Surgical Solutions for Open-Angle and Closed-Angle Glaucoma, Addressing Clinical Pain Points and Expected to Become the Mainstream Option for Future MIGS Procedures.

Raytec Biotechnology's management team has extensive experience in R&D and commercialization in the ophthalmology field. The company has adopted a dual-driven development strategy of internal independent R&D and global BD, forming a closed-loop development strategy encompassing R&D, sales, and product selection.

Dr. Lin Yongliang, the founder of the company, graduated from the Cell and Tissue Engineering program at Jinan University. He has over 15 years of experience in the research and development of Class III implantable medical devices. He has led the R&D and industrialization of various regenerative materials, including artificial corneas and artificial joint cartilage, and has presided over and undertaken key national R&D projects and provincial science and technology projects in Guangdong Province.

Xu Hao, the co-founder of the company, has over 20 years of experience in sales management of ophthalmic drugs and medical device products. He has served as the head of ophthalmic sales at companies such as Merck, Pfizer, and Shenzhen Ruilin Pharmaceutical. The sales team led by Xu Hao has the ability to quickly commercialize self-developed and introduced products, driving rapid growth in the company's sales and enabling it to achieve positive cash flow.

Dr. Lin Yongliang, Founder of Raytec BiotechnologyExpressed: "We are delighted that Raytec has gained recognition from both new and existing shareholders. We would like to thank Green Pine Capital and Zhongda Venture Capital for their support in this round of financing, as well as HM CAPITAL for their continued support. Raytec has extensive experience in the sales and management of ophthalmic device products and fully understands clinical needs. We will continue to focus on 'China-produced first' products, leveraging our team's technical expertise in biomaterials to accelerate the research, development, and implementation of our products."

Raytec Biotechnology Co-Founder Xu HaoRaytec's sales team has rich experience in the ophthalmology market, with access to KOL resources across China, adhering to academic marketing and professional promotion. This round of financing will also help Raytec improve its commercial system and accelerate sales growth.

Yang Jin, Partner of Green Pine Capital"We have been paying attention to the ophthalmology field for a long time. This is a high-growth track that combines both medical and consumer attributes. Dr. Lin, Mr. Xu Hao, and the team have been deeply involved in the ophthalmology industry for many years, demonstrating strong product selection capabilities. Their R&D pipeline consists of innovative products that can fill current treatment gaps. We look forward to the company continuously improving its product portfolio and growing into a leader in ophthalmic devices."

Hou Qi, Managing Director of HM CAPITALExpressed: "The team at Raytec Biotechnology not only possesses solid technical expertise but also demonstrates strong execution capabilities. Whether it’s the in-hospital sales following the launch of their wet amniotic membrane product or the rapid advancement of their R&D and clinical pipelines, they have left a deep impression on us. HM CAPITAL firmly believes in the company’s future and will provide long-term support to accompany its growth."

President of Zhongda Venture Capital, Zheng GuihuiRepresentative stated: "The core team of Raytec Biotechnology has rich R&D experience and a profound understanding of the ophthalmic innovative device market, as well as a keen business sense. Starting from research on regenerative materials and preparation technology, the company has laid out several key product pipelines in the field of ophthalmology. Among them, the self-developed wet biological amniotic membrane is a unique and first-to-market product in China, which has been recognized and applied by hundreds of authoritative hospitals. We believe that Raytec Biotechnology is an excellent ophthalmic innovation technology enterprise, and we look forward to the company quickly bringing more clinically needed ophthalmic products to market, benefiting a large number of patients."

Green Pine Capital was founded in 2007 (Songhe Venture Capital was established in 1996 as one of the earliest private venture capital institutions in Shenzhen and is the initiator of Green Pine Capital) by venture capitalists Wei Li and Fei Luo. Having gone through multiple economic cycles, it maintains stable operations, with a core team possessing over 20 years of experience in equity investment. Green Pine Capital focuses on early-stage and growth-stage investments, primarily targeting three key hard-tech sectors: digital technology, precision medicine, and innovative materials.

HM CAPITAL is a professional fund focused on healthcare investment. Relying on the resource ecosystem advantages of HM Healthcare Group and others, it invests in the healthcare ecosystem multi-dimensionally, across regions, and in a comprehensive manner. It is committed to building a professional investment platform with international vision and local execution capabilities. Through a dual-currency, multi-strategy fund investment model, it helps early-stage and growth-stage healthcare companies grow rapidly. By the end of 2022, HM CAPITAL's management scale exceeded 4 billion yuan, with over 50 invested companies globally. Several companies in its investment portfolio have become industry leaders.

Zhongda Venture Capital was established in February 2011 under the promotion of the leaders of Sun Yat-sen University. It is an emerging industry investment institution aimed at fully leveraging and utilizing the advantages and resources of Chinese universities in scientific and technological innovation, industrial research, and talent cultivation. It mobilizes and allocates social capital to support the transformation of scientific and technological achievements. Zhongda Venture Capital focuses on investing in three major emerging industries: biomedicine, new materials, and advanced manufacturing. By strategically positioning itself in three major industrial clusters—Guangdong Medical Valley, Guangdong Materials Valley, and Zhongda Innovation Valley—it has established unique advantages in fields such as biomedicine, new materials, and advanced manufacturing.