Mingche Bio Completes Tens of Millions RMB Pre-A Financing to Advance R&D and Industrialization of Ocular Microscale Medical Devices

VCBeat learned第一时间 that MINGCHE (Suzhou) Biotechnology Co., Ltd. (hereinafter referred to as "MINGCHE") has recently completed a Pre-A round of financing worth tens of millions of yuan.ThisThis round of financing was led by Pioneer Fund and Qianrong Capital, with Haida Investment following on. Yujian Capital served as the exclusive financial advisor for this transaction.The proceeds from this financing will be mainly used for the research and development as well as industrialization of new minimally invasive devices for the treatment of ophthalmic diseases.

MINGCHE is a company engaged in the production and research of high-value medical devices. The team is composed of academicians from home and abroad, recipients of national major talent programs, authoritative medical experts, and professionals from the medical device industry. The team has nearly two decades of research foundation in technical platforms such as biocompatible hydrogel materials, two-photon micro-nano 3D printing, and microfluidics. At the same time, the team possesses extensive industry chain experience and keen market insight, with accurate market positioning and strategic planning. They have now developed multiple innovative micro-eye devices.

In just over a year since its establishment, the company has formed a multi-product line layout of ocular micro-devices, centered around the Minimally Invasive Glaucoma Surgery (MIGS) drainage tube, and including platforms such as sensors, microneedle drug delivery, and magnetically controlled surgical robots. Its core product has entered the clinical stage, while other projects, along with the domestic and international filing and approval of multiple invention patents, are proceeding in an orderly manner. Meanwhile, the company has won first prize in China's Medical Device Innovation and Entrepreneurship Competition, third prize in the finals of the Jinji Lake Entrepreneurship Competition, and has been approved as a leading enterprise in the Suzhou Industrial Park.

Speaking about this round of financing, Ren Dongni, the founder of MINGCHE, stated: For the company, the research and development and transformation of new technologies and products require a significant investment of time and capital. This round of financing has optimized and accelerated the clinical and market launch process of the company's series of products, achieving a positive mutual collaboration between the company and investors, and gaining high recognition from the investors.

MINGCHE Focuses on the Field of Ophthalmic Medical Devices, Adhering to the Philosophy of "Gentle Minimally Invasive, Efficient and Simple, Protecting Vision, Looking Forward to Infinity". Driven by Technological Innovation, MINGCHE Always Insists on Independent Research and Development, Striving to Break the Foreign Technology Monopoly. It Aims to Become the First High-Tech Enterprise in China with Core Technology in This Specialized Field and Industrialization. Despite Multiple Impacts in 2022, MINGCHE Continued to Advance, Building a Nearly 1600 Square Meter Facility Including a Class 10,000 GMP Workshop. In the Future, MINGCHE Will Remain Committed to Innovation, Never Forget Its Original Aspiration to Create High-Quality Medical Devices in China, Bear the Mission of Benefiting Patients with Eye Diseases, Overcome All Difficulties, and Forge Ahead. It Will Open Up a Bright Future in the Field of Ophthalmology, Providing Millions of Patients with the Most Reliable and Professional Medical Products.

With the advancement of research in China on the mechanisms of glaucoma, gene screening and function, optic nerve protection and regeneration, as well as scar modulation after glaucoma surgery in recent years, domestic device manufacturers have made significant breakthroughs in the development of glaucoma treatment procedures and related devices.

MINGCHE focuses on developing first-in-class innovative products and has independently developed a minimally invasive glaucoma drainage tube. Its core product inherits the most comprehensive advantages of the MIGS product XEN in terms of technical approach. In terms of product materials and structure, MINGCHE adopts a variable inner diameter design, which is different from the equal-diameter drainage tubes like XEN, to effectively improve drainage efficiency while achieving directional drainage, anti-reflux, and reducing postoperative complications such as excessively low intraocular pressure and breakage.

Not only that, but the company has also made optimization and innovation around materials, structure, processes, and surgical operations. At the same time, it adopts intelligent manufacturing technologies such as microfluidics and near-field control to achieve technological breakthroughs, which reduce costs and improve efficiency while enabling real-time monitoring of intraocular pressure.

Based on the company's technological breakthroughs in underlying materials, sensors, micro-nano manufacturing, and near-field control, a series of innovative devices focused on ophthalmology and minimally invasive treatment and monitoring have been incubated. In addition to products like the XEN-diameter drainage tube that have already entered the clinical stage, other projects are also showing a flourishing state. Meanwhile, multiple invention patents have been filed and approved both domestically and overseas.

Regarding the future development of MINGCHE, the investors in this round all hold an optimistic attitude.

Kaituo Zhidao Fund stated"The ophthalmology industry has always been a high-growth, high-barrier sector with unmet market demands. MINGCHE, leveraging its founding team's years of experience in designing and manufacturing medical devices based on technology platforms such as biomaterials, micro-nano printing, and microfluidics, has developed a series of minimally invasive ophthalmic instruments. These products feature comprehensive innovations in material, structure, and manufacturing processes, with strong platform scalability. As the first project invested by Pioneer Zhidao Fund, we are highly confident in working together with MINGCHE to provide treatment for more patients with eye diseases through product innovation and technological iteration."

Qianrong Capital stated"MINGCHE is a typical application case of advanced manufacturing technology in the medical field. It applies micro-nano processing technology to the R&D and production of high-precision ophthalmic equipment and implantable consumables, achieving the integration of equipment, materials, and processes. Based on this technological platform, it has expanded into multiple product pipelines for various indications. Meanwhile, the team possesses rich technical reserves and implementation experience, with the potential to create leading medical device products in China and even globally. We look forward to MINGCHE joining Qianrong's investment ecosystem and hope to continuously empower it in terms of industrial synergy, helping MINGCHE bring benefits to patients."

Haida Investment stated"The ophthalmology market has significant unmet needs, which aligns with Haida's investment focus. MIGS, as a minimally invasive and safer procedure for glaucoma treatment, is rapidly developing overseas. Under the leadership of Ren Bo, the MINGCHE team has innovatively designed and developed several minimally invasive implantable devices, such as the MIGS drainage tube, based on their expertise in biomaterials and micro-nano manufacturing. The product competitiveness is highly anticipated. Haida hopes to work with MINGCHE to benefit more ophthalmic patients through innovative technologies and products."

Kaituo Zhidao Industry Fund was jointly established in 2022 by Kintor Pharmaceuticals, China Wealth Group, and Dongwu Industrial M&A Guidance Fund. The fund focuses on equity investments in innovative drugs, medical devices, and other major health industries. Leveraging Kintor Pharmaceuticals and Zhidao Capital's deep industry background, technical expertise, and investment management experience in the biopharmaceutical field, China Wealth Group’s robust government resources and network, combined with Dongwu Venture Capital’s financial industry support, the fund specializes in early to mid-stage projects within the biopharmaceutical sector. The fund team possesses professional expertise, extensive experience in secondary market mergers and acquisitions, and strong capabilities in identifying and screening primary market projects. Based in the Yangtze River Delta region and covering all of China, the fund is committed to linking upstream and downstream players in the biopharmaceutical industry chain, promoting the integration of technology and market, aligning innovation with industrial needs, achieving ecosystem empowerment, helping invested enterprises grow stronger and larger, and driving high-quality development in the biopharmaceutical industry.

Qianrong Investment Holding Group integrates angel investment, venture capital, equity investment, mergers and acquisitions, industry mother funds, and secondary markets, covering the entire investment cycle and the whole industry chain. Its subsidiaries, Qianrong Capital and Qianrong Chuanghe, are both registered with the Asset Management Association of China and manage eighteen private equity funds. They have invested in more than sixty technology enterprises and four financial institutions. Most of the invested enterprises have become leaders in domestic and international niche industries and industry standard-setters, with over a dozen listed on the Shanghai, Shenzhen, Hong Kong, and NASDAQ stock exchanges, and several others entering the application period. The investment focus is on high-end manufacturing industries such as integrated circuits and aerospace, as well as life sciences and other technology-driven industries. Investment cases include Zhongji Xuchuang, Neway Valve, Tian Shun Wind Energy, Hengjiu Optoelectronics, Xinhua New Materials, Kangzhong Medical, Snail Inc., Aotecar Technology, Hongan Machinery, Aosikang Biotechnology, CEC Compound Semiconductor, Core Third-Generation Semiconductor, and Kena Medical.

Tianjin Haida Venture Capital Management Co., Ltd. was established in 2007 with a registered capital of RMB 50 million and manages over RMB 10 billion in capital. It focuses on investments in healthcare and intelligent manufacturing, with representative investment cases including Sunshine Nova, Xinwei Medical, Hotgen Biotech, Taihe Optoelectronics, BIWIN Storage, and Rockchip. The core team originated in 2000, consisting of some of the earliest professionals in China engaged in equity investment, boasting more than 20 years of experience in equity investment management. The core team has been closely collaborating for over 15 years.

Yu Capital was founded in 2022 as an innovative investment bank focused on the life sciences and health sector. The founding team hails from China's top biopharmaceutical industry park management organizations, with over a decade of experience in biopharmaceutical industry management and venture capital investment, as well as extensive public relations resources. Yu Capital provides platform-based services such as strategic management, resource integration, and investment financing to innovative biopharmaceutical companies. Since its establishment, the company has concentrated on incubating and fostering the growth of innovative enterprises across multiple subfields, including biopharmaceuticals, medical devices, biotechnology, and core components. With professional, dedicated, and passionate service, it envisions innovation and anticipates the future.