FloraMed Completes Tens of Millions of RMB Series C Financing with Hyue Capital as Exclusive Financial Advisor

VCBeat learned that recently, Farmove Medical, a globally innovative company specializing in biodegradable medical materials and regenerative medicine, has completed a C-round financing worth tens of millions of yuan. This round of financing was led by Shenzhen HTI Group Co., Ltd., with participation from Shanghai Sunland Investment Management Co., Ltd. Hoyer Capital acted as the exclusive financial advisor for this round of financing. The funds will be used to further advance the company’s ongoing research and clinical trials of absorbable and biodegradable products, as well as the commercial promotion of these products, comprehensively enhancing Farmove Medical's competitive edge in the field of biodegradable medical materials and regenerative medicine both in China and internationally.

Farmove Medical was founded in Shanghai in 2016. Based on leading implant-grade biodegradable raw material technology, it focuses on five blue ocean tracks: sports medicine, spine, neurosurgery and craniofacial, medical aesthetics, and ophthalmology. Its applications span across spinal surgery, trauma repair, sports medicine, neurosurgery, craniofacial surgery, ophthalmology, medical aesthetics, and synthetic biology, developing innovative biodegradable biomaterials and a variety of regenerative medicine products with independent intellectual property rights. Since its establishment, Farmove Medical has attracted investments from several well-known venture capital institutions, including VCBeat, Sunland Investment Management Co., Ltd., Hualing Capital, Apex Capital, Taiyu Capital, and Yankuang Wenjing Fund.

As an interdisciplinary and highly complex technical field, the research and development breakthroughs in China’s upstream biomedical materials industry chain have long been a pressing academic and industrial challenge. Starting from upstream materials, the company is committed to breaking through the technological barriers of biomedical materials and developing high-end absorbable products that better meet clinical and patient needs. Its R&D pipeline includes globally innovative absorbable self-locking interbody fusion devices, domestically innovative absorbable interface screws, absorbable suture anchors, absorbable craniofacial fixation systems, and other groundbreaking products. The platform technology centered on materials offers significant differentiation advantages in China. With the upcoming commercialization of products such as composite absorbable interface screws and composite absorbable suture anchors, the innovative application of material technology will increase localization rates across the upstream and downstream material sectors. This will break the import monopolies in sports medicine, spinal, and neurosurgery fields, enabling domestic enterprises to overtake competitors.

"No Boundaries, Continuous Evolution": From the founding team to core executives, the compound team's iterative advantages continue to manifest in research institutes, clinical settings, and the industry through product development closely aligned with frontline clinical needs, achieving a closed loop. The founder has research experience at top overseas material research institutes and multiple successful entrepreneurial experiences in the medical field. The core advisory and R&D team includes top clinical experts in orthopedics and materials, as well as internationally renowned biomaterials experts. Core team members of Farmove Medical possess extensive material R&D experience while maintaining deep collaborations with top clinical experts. Team members have participated in and led the development of several well-known products in the industry. The company has achieved multiple industry-academic research conversions, including key biopharmaceutical fund projects from the Shanghai Science and Technology Commission and National 863 Program—National Natural Science Foundation projects. On the market operations side, Farmove Medical has attracted an increasing number of industry veterans, leading figures, and talents at various levels. Farmove Medical is now well-prepared for commercialization and rapid sales growth.

According to "Global Medical Implants Market Analysis and Industry Forecast, 2020-2027" published by Allied Market Research, the global medical implants market was valued at $85.38 billion in 2019 and is expected to reach $147.46 billion by 2027. The applications of implantable devices are expanding from cardiovascular, neurointerventional, and traditional orthopedics to sports medicine, spine, neurosurgery, medical aesthetics, and ophthalmology, indicating a vast market space that is still growing rapidly.

With the continuous development of biomedical materials, implant products have evolved from metal materials to polymer materials. However, these materials cannot achieve biological fusion or bone integration and often require additional metal fixation materials, which can cause a significant foreign body sensation for patients and lead to secondary harm. As a result, absorbable composite polyester materials that promote regeneration have become a leading trend in implant development. These materials can degrade within the human body, provide better tendon-bone healing, and allow for minimally invasive surgeries with shorter recovery times. Currently, absorbable material products represented by Smith & Nephew and Johnson & Johnson still face issues such as unstable degradation rates and poor toughness. Farmove Medical’s unique self-reinforced polylactic acid composite material processing technology offers advantages such as a degradation rate that better aligns with bone growth requirements, strength comparable to mainstream non-absorbable materials, and minimal tissue reaction. With its technological edge in biodegradable material products, comprehensive and deep product portfolio, and extensive industry expertise, Farmove Medical is well-positioned to break the import monopoly and achieve localized production in China.

Mr. Luo Yuxing, General Manager of the CompanyIt stated that companies capable of becoming industry leaders in the future must first possess cutting-edge technological innovation capabilities. Absorbable and regenerative biomaterials represent one of the most valuable and technically challenging areas within the medical device field, offering an essential path for the upgrading and iteration of traditional materials, and symbolizing the development trends in both technology and clinical applications. Farmove Medical has successfully established an innovative core technology platform with independent intellectual property rights for absorbable biomaterials and regenerative medicine.

Secondly, it has strong product development capabilities and the ability to provide comprehensive solutions. Farmove Medical is the company with the widest range of department coverage in China. Centered on absorbable and regenerative medicine platform technologies, the company has developed dozens of pipeline products, including a complete system of implants, equipment, and surgical instruments. In the next three years, Farmove Medical will successively obtain certifications for more than ten new absorbable and regenerative medicine products. With leading R&D progress, multiple projects are globally pioneering and rank first domestically, bringing unlimited possibilities for subsequent commercialization.

Farmove Medical has initially developed the commercialization capability for its products across China. The market operation team structure of Farmove is nearing completion, and a talent pipeline has been established, which will enable more precise and rapid market entry for new products. In terms of commercialization, Farmove Medical has completed the screening of nationwide channels, with key hospitals, provinces, and regions already prepared in advance. As multiple products are successively approved and launched, the commercialization process of Farmove Medical's products is about to accelerate, showing exponential growth!

Farmove Medical will, according to its medium- and long-term planning, "aim high and act decisively" to cover key tertiary hospitals while simultaneously implementing a market下沉strategy. This comprehensive approach aims to establish Farmove Medical's leading brand image in the industry and build口碑among clinical experts, enhancing both product value and brand value. With the support of capital, Farmove Medical is expected to go further and become a globally leading biodegradable materials platform company!

Mr. Yang Zhenjun, Managing Partner of Haoyue CapitalVCBeat stated that Farmove Medical is honored to have Holey Capital as the exclusive financial advisor for this round of financing, assisting the company in completing this round of funding. Absorbable and regenerative materials are the future trend for implantable products. Farmove Medical is a global leader in biodegradable medical materials and regenerative medicine materials, with world-first and multiple China-first innovative products. The founding team's innovative R&D capabilities and efficient execution have been fully recognized by both new and existing shareholders. We believe that, with the support of capital, Farmove Medical will accelerate product development, initiate the commercialization process, and lead the future development of the absorbable materials industry. We look forward to Farmove Medical's continued success!

Farmove Medical was founded in 2016, with its headquarters located in the China (Shanghai) Free Trade Zone. It is an innovative absorbable biomaterials and regenerative medicine company co-founded by entrepreneurs in the medical field, world-class biomaterials experts, and seasoned professionals from the medical device industry. Farmove Medical has developed a series of innovative absorbable biomaterials and various lines of implant products in regenerative medicine with independent intellectual property rights. The company is committed to advancing new material technologies for applications in orthopedic spine, sports medicine, maxillofacial surgery, neurosurgery, medical aesthetics, ophthalmology, and other medical fields.

Shenzhen HTI Group Co., Ltd. was established in 1994 as a professional financial services institution set up by the Shenzhen Municipal Committee and Municipal Government to address the financing difficulties of small and medium-sized technology enterprises. It holds the highest AAA credit rating in the capital market. Currently, the group has a registered capital of 8.852 billion yuan and net assets of 14 billion yuan. Its business covers bank loan guarantees, engineering guarantees, bond credit enhancement, venture capital, fund management, micro-loans, and pawnbroking, providing enterprises with comprehensive investment and financing services from the start-up stage to the mature stage. Over the past two decades, Shenzhen HTI Group has adhered to the mission of serving small, medium, and micro technology enterprises, growing and thriving together with a wide range of small and medium-sized technology enterprises.

Shanghai Sunland Investment Management Co., Ltd. was founded in 2015 as a professional medical fund focused on early-stage and growth-stage healthcare industry investments. The company specializes in high-growth medical subsectors, including biopharmaceuticals, medical devices (in vitro diagnostics and genetic technology, minimally invasive interventions, implantable devices, minimally invasive surgical instruments, and medical robotics), and has invested in more than 50 outstanding medical companies. The core team of Shanghai Sunland Investment Management Co., Ltd. consists of listed company founders with over two decades of experience in the medical field, as well as top professionals from biotechnology and medical device sectors. They possess a profound understanding and extensive experience in the essential aspects and long-term development patterns of medical subsectors, providing precise and efficient support to accelerate the rapid growth of their portfolio companies.

HaoYue Capital, founded in January 2014, is a leading investment bank in China that focuses on the healthcare industry. Headquartered in Shanghai, the company has regional offices in Beijing and Shenzhen. HaoYue Capital is committed to leveraging capital and research-driven insights to help outstanding enterprises in China's healthcare sector successfully access the capital markets, creating added value for clients. The partnership team consists of senior investment bankers with years of experience in China’s healthcare industry, supported by a professional team of over 70 members. HaoYue Capital consistently tracks market dynamics and investment trends in healthcare, covering research areas and transaction scopes across multiple sub-sectors such as innovative pharmaceuticals, advanced medical devices, IVD and life sciences, health services, and digital healthcare. In 2021, HaoYue Capital completed over 50 private equity financings, mergers and acquisitions, and complex spin-off transactions involving listed companies, with a total transaction value of tens of billions of RMB, leading across all sub-sectors of the healthcare industry.