HiGlau Medical Secures Over RMB 100 Million in Angel and Pre-A Funding to Advance Minimally Invasive Glaucoma Surgery Solutions

VCBeat (WeChat ID: vcbeat) learned第一时间 that HSGD recently announced it had completed over 100 million RMB in angel and Pre-A funding rounds in April and August this year. The angel round was jointly led by TF Capital, China Growth Capital, and Taiyu Investment; the Pre-A round was led by Boyuan Capital, with TF Capital and Taiyu Investment following up as existing shareholders. Headquartered in Suzhou Biobay, HSGD is a technology enterprise focused on developing a full pipeline of minimally invasive surgical solutions for glaucoma. In November 2020, HSGD was selected for the Suzhou Industrial Park Leading Talent Program.

According to the World Health Organization, there are currently at least 2.2 billion people worldwide suffering from blindness and visual impairment, of which at least 1 billion cases are due to lack of timely treatment. Data shows that the global ophthalmology market size exceeds 50 billion US dollars (approximately 319.2 billion RMB), and it will continue to grow in the future. Glaucoma is the leading cause of irreversible blindness, affecting more than 75 million people globally. China's increasingly aging population has also led to a yearly increase in the prevalence of glaucoma. Statistics indicate that over the past five years, the number of glaucoma patients in China has continued to rise, exceeding 20 million in 2020, with more than a quarter resulting in blindness.

Dr. Peng Zhao, founder of HSGD, stated: Current technical means and cognitive levels cannot effectively prevent glaucoma, but early detection and proper treatment can allow the vast majority of patients to maintain their visual function for life. The prevention of blindness from glaucoma must emphasize early detection, early diagnosis, and early treatment. Currently, trabeculectomy, the "gold standard" for glaucoma treatment, faces challenges such as postoperative complications, a long learning curve for doctors, and limitations on further treatment options. With the rapid development of global Micro-Invasive Glaucoma Surgery (MIGS), glaucoma stents have become an essential device and trend in glaucoma treatment. They can significantly reduce the learning curve for doctors, greatly shorten the surgical process for patients, minimize trauma, and enable effective same-day treatment and discharge.

Dr. Ji Tianrong, founder of Taiyu Investment, stated: Taiyu Investment is very optimistic about the development space of HSGD in the minimally invasive glaucoma implantable device track. In recent years, investment in the ophthalmology field in China has been increasingly active, with multiple tracks in ophthalmology giving rise to listed companies and unicorn enterprises. However, in the glaucoma field, there have been few breakthroughs, whether in drugs or devices. We hope that HSGD can continue to make efforts in the minimally invasive glaucoma track and bring good news to the large number of glaucoma patients.

Hua Chuang Capital partner Hanjie Lu stated: MIGS procedures are gradually becoming the mainstream method for treating glaucoma. HSGD is expected to become the first domestically produced enterprise in China to achieve mass production and enter the clinical stage for implantable devices. Its revolutionary surgical techniques and treatment methods have significant clinical value and social benefits.

Dr. Zhang Yibo from TF Capital stated: The number of registered ophthalmology-related companies in China increased from 1,066 in 2011 to over 10,300 by 2020. This represents an astonishing tenfold growth over the span of a decade. In the currently booming ophthalmology sector, numerous funds are actively making investments. According to incomplete statistics, more than 20 companies have received financing or been acquired this year. However, enterprises specializing in glaucoma treatment, particularly those focusing on minimally invasive surgical techniques and implantable devices, remain relatively scarce. The emergence and product positioning of HSGD are expected to help accelerate the resolution of the gap and shortcomings in domestically produced MIGS (Minimally Invasive Glaucoma Surgery) products in China.

Boyu Capital's Ma Jinbo stated: Reviewing the progress and breakthroughs in the glaucoma field both domestically and internationally in recent years, MIGS procedures are currently the most representative. As one of the most complex and delicate organs in the human body, the development of implantable devices for the eye is extremely challenging, reflecting the shortcomings of the medical device industry in ultra-micro precision processing capabilities. HSGD has successfully achieved stable mass production of micron-level products, which is currently the smallest implantable stent in China, demonstrating its manufacturing capability in ultra-micro precision instruments—an extremely scarce resource in this field. Boyu Capital highly values the enhancement of fundamental manufacturing capabilities and has long-term confidence in HSGD's future development.

Tide Investment, established in 2014, is an independent venture capital firm under Tigermed. Focusing on equity investments in early and growth-stage healthcare sectors, Tide Investment’s management team possesses deep industry expertise, extensive resources, and rich investment experience. To date, the firm has completed investments totaling over a billion yuan across more than 70 projects, with a portfolio covering medical devices, biopharmaceuticals, CRO, and health supplements. By empowering its portfolio companies, Tide Investment creates value for the development of China’s and even the global healthcare industry, contributing to public health.

TF Capital Focuses on Venture Investment in the Life Sciences Sector, Mainly Investing in Promising Early-Stage and Growth-Stage Enterprises. Through Diversified and Strategic Layouts, It Selects High-Quality Partners to Seize Opportunities Amid the Rapid Development of China’s Life Sciences. The Investment Team Has Years of Experience and Industry Resources in These Fields and Hopes to Grow Rapidly Together with Invested Enterprises.

Founded in 2006, China Growth Capital focuses on early-stage investments in frontier technology, life sciences, and consumer upgrades, utilizing its deep resources and experience to assist portfolio companies with strategic planning, business expansion, and team building. Currently, China Growth Capital manages RMB and USD funds totaling 8 billion RMB, with an investment scope covering angel rounds to Series C, and investment amounts ranging from millions to hundreds of millions of RMB.

BioTrack Capital, established in 2017, is a professional investment firm focused on investing in and incubating outstanding healthcare startups in the Chinese market. We are not only investors but also long-term partners of entrepreneurs. We consistently support the most exceptional healthcare innovators in building the next generation of leading enterprises in China's healthcare industry.