SceneRay Secures RMB 300 Million in Series D+ Financing, Appoints China Renaissance as Exclusive Financial Advisor

VCBeat (WeChat: vcbeat) learned第一时间that on February 16, SceneRay announced the successful completion of a 300 million RMB D+ round of financing, jointly led by Sequoia China and Hillhouse Ventures. This round of financing follows the over 100 million RMB D round led by Yanchuang Capital in April 2020, marking another successful financing for SceneRay. Huaxing Capital served as the exclusive financial advisor.

Sceneray is an innovative high-tech medical device enterprise that integrates research and development, production, and sales. For many years, it has been deeply engaged in the field of Deep Brain Stimulation ("DBS") therapy, while also leading the frontier exploration of invasive brain-computer interfaces for medical use. The company brings together more than 200 top talents from home and abroad who are highly capable and experienced, adhering to independent research and development, global innovation, and self-manufacturing.

Brain science is the "ultimate frontier" for humanity to understand nature and itself, and also one of the most cutting-edge research and development directions. In 2016, China's Brain Project (brain science and brain-inspired research) was listed as a major scientific and technological project in the 13th Five-Year Plan, and was once again listed as one of the seven "key technology frontier areas" in the 14th Five-Year Plan. Meanwhile, with the acceleration of population aging in major economies around the world, including China, brain diseases are gradually becoming another major challenge to human health. The rapid development of brain science in recent years has led to a number of disruptive theories and revolutionary technological achievements. Emerging technologies such as neuromodulation and brain-computer interfaces have achieved remarkable results in the treatment of various brain diseases.

Adhering to the original intention of applying brain science research to medical scenarios, allowing more patients to benefit from high-tech medical treatments, Sceneray has consistently been at the forefront of innovation in the industry. Through continuous iterations, the company’s deep brain stimulation devices have carved out a differentiated development path in the field of brain stimulation. Relying on its self-developed chips, Sceneray's rechargeable deep brain stimulators already on the market achieve breakthroughs and expansions compared to similar global products: smallest size, most functions, lower power consumption, longest lifespan, and richer treatment scenarios. In areas such as remote communication and multi-frequency stimulation, it stands unparalleled globally, with overall product performance surpassing that of international giants. The product's high-tech features, ease of use for doctors and patients, and exceptional reliability have earned Sceneray trust and consistent recommendations from the medical community in Parkinson’s disease treatment, as well as substantial market validation. Unsatisfied with these achievements, Sceneray continues to push boundaries, venturing into uncharted territories of brain disease treatment. It was the first to propose a dual-target stimulation therapy solution and developed a brain-computer interface dual-target deep brain stimulator, leading internationally in treating refractory obsessive-compulsive disorder, drug addiction, and alcohol addiction, achieving breakthrough therapeutic effects. With cutting-edge theoretical exploration, state-of-the-art treatment devices, and comprehensive systematic treatment methods, Sceneray is committed to truly solving human brain science diseases, using scientific innovation to benefit a broader patient population.

Mr. Ning Yihua, Founder and Chairman of ScenerayStated: "Healthcare is an industry driven by rigid demand, and it also requires patient and persistent efforts. Research in the field of brain science is particularly challenging. Looking back over more than a decade of relentless work, the company has achieved several breakthroughs at the forefront of neuroscience through independent research and development. Sceneray's brain stimulators, equipped with multiple innovative technologies, have gained unanimous recognition within the industry and are leading globally in the exploration of various indications. Lastly, we sincerely thank both new and existing shareholders for their support and trust. Sceneray always keeps its mission in mind, committed to allowing more patients to benefit from the therapeutic effects of high-tech medical technology, and strives to become a world-leading enterprise."

Head of Gaoling VenturesSaid: "The field of brain science has enormous market prospects and potential. After years of development, Sceneray has built a solid foundation in medical scientific research, adhering to innovative technology as the core R&D concept. With keen insight into clinical needs, the company has successfully implemented deep brain stimulation and brain-computer interface applications. Its First-in-Class innovative products bring breakthrough therapies for various diseases. Hillhouse continues to be optimistic about the brain science industry and the company’s future. We will continue to support the company in reaching new heights, bringing benefits to more patients, and showcasing the extraordinary strength of 'Made in China' on the international stage."

Dr. Chen Xuanze, Vice President of Sequoia China"We focus on the industrial development of brain science, and Sequoia China has established a brain science incubation center to support the industrialization of brain science in China. The core team of Sceneray consists of key experts in deep brain stimulation systems, accumulating rich experience. They have built key technologies in brain-computer interface neuromodulation chips, dual-target electrical stimulation, remote programming control, and AI-assisted fields, truly realizing the transformation from cutting-edge technology to industrial application. We are delighted to join hands with Sceneray to promote the extension of deep brain stimulation products to more indications, benefiting more patients."

Mr. Xie Yijing, Managing Director of Huaxing Capital and Head of Healthcare and Life Sciences GroupSaid: "The field of brain science is a direction we continue to closely monitor, and a series of emerging technologies have made this field full of infinite possibilities. Sceneray adheres to independent research and development, building a moat with deep technical reserves, creating a rich product line and ecosystem, leading the development of the brain-computer interface industry. As a long-term partner of Sceneray, Huaxing Capital is honored to accompany the company through nearly seven years of growth and will continue to contribute to helping the company achieve excellent results and breakthroughs."