ChaoMu Medical Completes Nearly RMB 100 Million Series A+ Financing to Accelerate Commercialization of the World’s First Electrical Stimulation Therapy for Nystagmus

VCBeat learned第一时间 that Super Vision Technology, Inc. (referred to as Super Vision), a technology platform for the research and development of treatments for eye diseases, has recently completed a nearly 100-million-yuan A+ round of financing.This round of financing was led by Fosun Health Capital's Xing Weilai Venture Capital Fund, with participation from Ming Heng Industrial Investment and Zhongzhi Zhonghe. The funds raised will be used for clinical trials of the world’s first nystagmus electrical modulation product and the development of a new generation of implantable medical chips, while also accelerating the advancement of new product development for myopia correction.

Moreover, after this round of financing, Super Vision will actively explore international strategies, collaborate with internationally renowned research and registration institutions, and jointly accelerate the FDA and CE registration process for domestically produced original ophthalmic medical devices.

Founded in 2018, Super Vision is a high-tech medical device and treatment solutions provider focused on the treatment of complex eye diseases. Since its establishment, it has received tens of millions in investments from well-known institutions such as Tsinghua Waterwood Venture Capital, Peking University Technology Transfer Fund, Zhongguancun Dongsheng Science Park, and Granary Investment.

Centering on market demand, Super Vision has developed a rich pipeline of products in research and pre-research – including implantable ocular muscle neurostimulators, myopia treatment devices, implantable glaucoma micro-drainage devices, implantable adjustable intraocular lenses, as well as strabismus diagnosis and treatment integrated machines. Among them,The implantable ocular muscle neurostimulator, developed by Super Vision Technology, Inc., is the world's first and only product capable of curing congenital nystagmus. The product has completed type inspection and clinical ethics review, and the first batch of clinical trials will be conducted within the year.

Congenital Nystagmus (CN), often referred to as an "incurable disease" in the field of ophthalmology, is an eye condition characterized by involuntary eye oscillation or twitching caused by abnormal neural discharges in the brain. In China, there are approximately 1.3 million patients with congenital nystagmus, and globally, the total number of patients exceeds 7 million. Patients generally suffer from poor visual quality (vision ranging from 0.1 to 0.4), and 85% of them develop amblyopia due to nystagmus. Many patients experience significant impacts on their education, employment, and daily life, severely reducing their quality of life.

"Doctor, please take a look. What should we do for our child? Is there still any treatment available?" Whenever participating in clinical diagnosis and testing at the hospital, the team from Super Vision frequently encounters many parents who bring their children in for medical consultations. Often, in these parents' eyes, aside from tears, there is also a glimmer of cautious hope.

Professor Lejin Wang, the founder of Super Vision, has been in this scene almost every consulting day over his 32-year career. As a leading expert in China in the field of pediatric nystagmus research and the leader of the nystagmus and strabismus discipline at Peking University People's Hospital, Professor Wang has been contemplating how to leverage his years of accumulated clinical experience and medical background to find new therapies and genuine remedies for patients with difficult eye conditions.

Starting from this idea, Professor Wang began to seek a team capable of realizing his vision and founded Super Vision Technology, Inc. Today, Super Vision has gathered several renowned Chinese ophthalmology experts, integrated circuit specialists, and investment professionals, while continuously bringing in a group of high-level experts — from R&D and registration leaders with over 20 years of industry experience, to senior quality system managers, production supervisors, and supply chain specialists. This has strengthened Super Vision's ability to "implement" R&D and effectively supported its full-process transformation capability "from concept to prototype, from product to clinical application."

With the support of a strong team, Super Vision's core product, the aforementioned implantable ocular muscle neurostimulator, came into being.

The therapeutic principle of this product is derived from Functional Electrical Stimulation (FES) technology (Note: Functional neuroelectrical stimulation technology used for restoration and functional reconstruction, which began in 1961 when Liberson successfully used gastrocnemius stimulation to correct foot drop in hemiplegic patients).

In 2013, the medical team of Super Vision discovered the relationship between extraocular muscle tension and stimulation current changes through animal experiments, offering new possibilities for exploring treatments for congenital nystagmus.

Afterward,Results from eight investigator-initiated clinical trials have proven that Super Vision's implantable ocular muscle neurostimulator can effectively control nystagmus symptoms, marking a significant medical breakthrough.

Not only that, but based on the treatment efficacy being validated, Super Vision is also actively advancing the research and development of advanced medical chips and the upgrade iteration of implantable products.In order to further reduce the surgical incision and enhance the patient's surgical implant experience, Super Vision has proposed a second-generation implantable stimulator product with higher integration and a size only 1/4 of the existing product, further improving the patient experience.

After nearly a decade of design, testing, and development work, along with tens of millions in funding, Super Vision's implantable ocular muscle neurostimulator has completed type inspection and clinical ethics and is about to enter the clinical trial phase. However, it was quite surprising that Wang Lejin, regarding the breakthrough achieved by Super Vision in the treatment of congenital nystagmus, once remarked: "We are still moving too slowly."

But in fact, Super Vision not only moves fast but also covers a wide range of areas. For instance, Super Vision doesn’t just focus on exploring new treatment options for congenital nystagmus; it aims to investigate effective treatments for more eye diseases, especially difficult and complex eye conditions. This is why Super Vision’s ongoing and pre-research projects include treatments for congenital nystagmus, myopia refractive correction, glaucoma micro-pump active drainage, and pediatric strabismus diagnosis and treatment.

"We hope that our technology can not only address the pain points in the treatment of eye diseases but also serve humanity and bring greater social benefits," said Wang Lejin.

Moreover, Super Vision has now initiated its international layout, striving to achieve the goal of overseas registration and submission for China-originated medical devices in the short term.In the next five years, Super Vision will continue to build on its high-end ophthalmic medical device platform, transitioning from the 1.0 ophthalmic product platform stage, which focuses on actively expanding the market based on the current product line, to the 2.0 medical integrated circuit R&D platform stage that explores advanced applications combining optoelectronic chips for medical use, implantable medical devices, and visual brain-computer interfaces. In the more distant future, Super Vision aims to achieve the ultimate "Life 3.0" phase by integrating artificial intelligence with medical chip technology, linking doctors, patients, and cloud-based big data health management platforms to enable proactive intervention and management of patient health.

Professor Lejin Wang, Chairman of Super Vision Technology, Inc.Stated: "Thank you to all investors for their trust. Super Vision is committed to relieving the suboptimal vision suffering of an increasing number of patients worldwide with more scientific methods, aiming to help billions of patients regain their bright world. We always uphold the concept of empowering ophthalmic treatment technology through scientific innovation, adhere to a technology-leading development strategy, and pursue with unity of thought and action, persistence, and hard work to make the company a world-class leader. Rooted in Beijing, the company focuses on solid research and development, striving to create star products in the international high-end medical device industry, contributing to China's scientific and technological innovation development, and bringing brightness and new hope to global patients with Made-in-China products."

Zhou Zhibo, Managing Director of Xing Future Venture Capital Fund"It is reported that the global ophthalmic device market size is expected to exceed 200 billion RMB. The compound annual growth rate of China's ophthalmic device market has surpassed 15% over the past decade, far higher than the international average of 4%, making it the fastest-growing segment in the medical device market. Super Vision is a technologically innovative enterprise in the ophthalmology field, pioneering a unique path that sets a precedent both domestically and globally. Its core products have the capability for dual submissions in China and the US. The Super Vision team boasts an excellent combination of medical and engineering expertise, solid technical accumulation, and clear strategic goals. Xing Weilai Venture Capital Fund is willing to provide comprehensive support to Super Vision from multiple fields such as capital and medical service resources, helping it further expand its medical device product portfolio, develop a richer pipeline, focus on the diagnosis and treatment of eye diseases, and enable more patients to embrace a brighter future."

Wang Ying, General Manager of Ming Heng CapitalStated: "Ming Heng Fund is committed to becoming an outstanding industrial integrator and innovation driver, using fund investment as the primary means, focusing on the healthcare industry, building a development platform, and continuously empowering the industrial ecosystem. As a leader in the field of eye disease treatment technology, the Super Vision team led by Professor Lejin Wang has achieved one scientific breakthrough after another in the global challenging technologies for nystagmus, glaucoma, and various eye disease diagnosis and treatment fields in recent years, creating opportunities for patients to eliminate pain and restore health. Super Vision is a highly respected medical technology innovation enterprise, and the Ming Heng Fund team is willing to deepen cooperation with them continuously, jointly promote the innovation of ophthalmic treatment technology in China, and bring the 'light' of good news to the vast number of patients."

Li Yongwang, Managing Partner of Zhongzhi ZhongheThe researcher said, "We are very pleased to participate in this round of financing for Super Vision. Super Vision has outstanding innovative products and clear development plans and goals. After four years of development, it has embarked on a unique path of technological innovation—starting from clinical needs, followed by thorough communication and argumentation with doctors, to explore novel technological innovation solutions. Zhongzhi Zhonghe is the executive shareholding platform of Synfuels China Technology Co., Ltd., and its core team members mainly come from the Chinese Academy of Sciences. With a strong technical background and rich industry experience, we hope that this investment will serve as an opportunity for closer cooperation between the two teams not only in terms of funding but also in research and industrial transformation in the future."