Huamai Medical Completes First Product Clinical Enrollment and Secures Two Rounds of Financing Within a Year

Recently, VCBeat reported that Hangzhou Huamai Medical Devices Co., Ltd. (hereinafter referred to as "Huamai Medical" or "the Company") announcedThe registration clinical trial of bone repair materials led by Peking University Third Hospital has successfully completed the enrollment of all cases, marking that the company's product registration application has officially entered a new stage.

At the same time, Huamai Medical also announced that it has completed two rounds of financing at the beginning of the year and recently. The early round was led by a firm focused on early-stage medical investments.Boxin CapitalInvestment; recently by focused on global biopharmaceutical investmentYifeng CapitalLead investment,Qingdao Guoxin, Old Shareholder Boxing CapitalFollow-up Investment,Angel CapitalAct as a financial advisor. The proceeds from the financing will be used to advance the research and development, clinical trials, and market exploration of multiple pipeline products in various regenerative medicine fields within the R&D pipeline, including orthopedics, dentistry, and sports medicine. It will continuously promote the platform extension of core technologies, build a multi-department regenerative medicine product line, and bring more world-class tissue regeneration and repair materials to clinical practice in China.

Previously, Huamai Medical had successively received investments fromTianfeng Capital, StarVest PartnersAngel round and Pre-A round financing led by institutions such as [names]. The continuous favor from numerous investment institutions is clearly due to Huamai Medical's innovative products and technological applications in the field of tissue repair and regenerative medicine materials.

Since its establishment in 2016, Huamai Medical has been committed to providing solutions for the repair of human tissue defects and focusing on developing an advanced biomaterials platform in the field of modern regenerative medicine to achieve natural regeneration and reconstruction of damaged human tissues. The company's first product to be introduced to clinical practice is the bone repair material, which has successfully completed clinical enrollment.

Driven by the emergence of various biotechnological innovations, aging population, rising disease incidence, and changes in disease patterns, the regenerative medicine industry has been thriving in recent years.

In the field of tissue engineering within modern regenerative medicine, artificial skin, artificial bones, artificial joints, artificial heart valves, and artificial blood vessels have successively emerged in recent years. Among them, artificial bone repair materials already account for approximately one-third of the market share in China's orthopedic bone defect repair materials industry.

According to statistics from the Southern Research Institute, the market size of China's bone repair materials industry is expected to reach 9.69 billion yuan in 2023, with an average annual compound growth rate of 19.8% from 2018 to 2023. Among them, the market size of the orthopedic bone defect repair materials industry will reach 5.34 billion yuan, the market size of the dental bone implant materials industry will reach 2.6 billion yuan, and the market size of the neurosurgical skull defect repair materials industry will reach 1.75 billion yuan.

In addition, publicly available data shows that in China, more than 6 million patients suffer from bone defects or functional disorders caused by traumatic fractures, spinal degenerative diseases, bone tumors, bone tuberculosis, and other orthopedic conditions resulting from traffic accidents and workplace safety incidents each year. However, only about 1.33 million orthopedic surgeries using bone defect repair materials are performed annually.

From this perspective, China's bone repair materials market still has enormous clinical demand to be met in the future, and the development of artificial bone repair materials also has vast potential. The composite materials for bone repair produced by Huamai Medical, relying on multiple patented technologies such as self-developed bioactive matrix material processes and advanced composite material technology, represent cutting-edge technology and products in the field of artificial bone repair materials.

Huamai Medical Composite Materials for Bone Repair

Although demand continues to grow and the market is developing rapidly, the research and development of artificial bone repair materials remains a worldwide challenge at this stage. Moreover, the public hopes that artificial bones can maximally approximate or even achieve the function of the original bone. This places higher demands on the mechanical properties, osteoconductivity, osteoinductivity, and biocompatibility of artificial bones.

In fact, at this stage, there are no shortage of innovators entering the artificial bone market. In the technologically advanced U.S. market, there are as many as about 200 artificial bone repair products. However, most of these products can only serve as bone filler materials for repairing small-scale bone defects or be used in dental and spinal fusion procedures, making them unsuitable for large-scale bone injuries and complex bone defect repairs.

Huamai Medical's artificial bone repair products, developed from a bionic perspective, simulate the structure and composition of human bone tissue. These products exhibit excellent properties in inducing bone tissue repair and regeneration, enabling the regeneration and reconstruction of complex bone defects and large-area segmental bone defects without the need for adding stem cells or growth factors.

In terms of materials, Huamai Medical uses artificial bone materials composed of animal tissue raw materials and various active bioceramics. The design fully simulates the composition and morphology of human autologous bone, demonstrating excellent performance in biocompatibility, mechanical properties, and more. Its unique three-dimensional design also gives the product moderate strength and toughness, making it suitable for cutting during surgical procedures. The relevant technology of the product has been granted patent authorization in China, the United States, Japan, the European Union, and other countries or regions.

For Huamai Medical, the continuous breakthroughs in the field of artificial bone repair would not be possible without the support of its core team.

It is reported that Dr. Jiang Tao, the founder of Huamai Medical, graduated with a bachelor's and master’s degree in polymer materials from Tsinghua University. He then pursued his Ph.D. at the University of Virginia in the United States under the guidance of Professor Cato T. Laurencin, a member of the U.S. National Academy of Sciences, the U.S. National Academy of Engineering, the U.S. National Academy of Medicine, and a foreign academician of the Chinese Academy of Engineering, focusing on bone biomaterials research. Later, he earned an MBA degree from the University of Chicago Booth School of Business.

Dr. Jiang Tao, Founder of Huamai Medical

After obtaining his Ph.D., Jiang Tao worked as a senior scientist at Zimmer Biomet, a global leader in orthopedics. He participated in or led the development of multiple orthopedic and sports medicine products, including those for bones, cartilage, and ligaments, gaining extensive experience in medical product research, development, commercialization, and industrialization. After leaving Zimmer Biomet, Dr. Jiang returned to academia as an assistant professor at the University of Connecticut Medical Center, where he primarily focuses on cutting-edge biomaterials, stem cells, and methods and technologies for repairing and regenerating tissues through nanomedicine.

Currently, the core team members of Huamai Medical have been engaged in project research, product development, and market sales covering related fields for the past 20 years, including regenerative medicine, biomaterials, and tissue engineering. This has enabled them to form complementary team strengths to support product development and market promotion.

In the future, Huamai Medical will continue to focus on unmet clinical needs and develop innovative products for various application scenarios, including oral, sports medicine, neurosurgery, and skin tissue repair, securing a place in the field of regenerative medicine.

For this round of financing,Lead investor: Efung CapitalWe value the profound scientific research transformation background and previous entrepreneurial experience of Huamai Medical's team. The company’s technology has strong platform extensibility for the future, allowing it to expand, develop, and apply to various fields of regenerative medicine according to clinical needs. The company's unique bioactive matrix products exhibit excellent biocompatibility and bioactivity. The natural triple-helix structure of collagen molecules provides an excellent carrier for cell adhesion, and the signaling factors required for cell behavior provided by various retained substances can enable rapid repair of damaged tissues. In current clinical practice, there is a huge market demand for various types of tissue repair. We firmly believe in this sector and companies with technical barriers, industrialization, and commercialization capabilities, and will accompany Huamai Medical in creating unlimited possibilities.

Yifeng Capital is one of the earliest professional investment institutions in the biopharmaceutical industry in China. Its investment team consists of a group of PhDs in biopharmaceuticals from top universities both domestically and internationally. Focused on global biopharmaceutical VC/PE investments, Yifeng Capital has successfully facilitated the listing of multiple companies. With outstanding investment performance and research capabilities, Yifeng Capital has been honored as one of the Top 30 Investment Institutions in China's Healthcare Industry by Zero2IPO, received recognition for Best Exit Cases in the Biopharmaceutical Field, and named one of the most dynamic original drug investment institutions in China. It has also been interviewed by the world-renowned scientific journal *Nature*. Yifeng Capital highly focuses on innovative original drugs and high-end medical devices, deeply exploring potential enterprises, promoting the industrialization of scientific achievements through capital, and contributing to the advancement of life sciences.

Boxin Capital is a professional investment institution focusing on early-stage medical investments, founded by partners with extensive experience in healthcare investments. Currently managing funds with a total scale of nearly 2 billion yuan, it has strategically invested in more than 40 innovative medical device and healthcare service projects with significant market potential. These companies have grown into leading enterprises in their respective niche markets, and Boxin Capital has successfully achieved profitable exits from multiple projects. The investors behind Boxin Capital include top-tier domestic fund-of-funds, entrepreneurs in the medical industry, and seasoned investors. With in-depth industry research, clear investment logic, and comprehensive post-investment management capabilities, Boxin Capital has earned long-term respect from entrepreneurs and continuous support from its investors, firmly establishing itself as a long-term partner for top-tier medical entrepreneurs and investors in China.

Qingdao Guoxin Financial Holdings Co., Ltd. was established in August 2013. It is the first state-owned financial holding company in Qingdao City, approved by the Qingdao Municipal Committee and the Qingdao Municipal Government, with a registered capital of 3.7 billion RMB. Its business scope covers investment and operation in financial and financial service institutions, asset management and fund management, equity investment and capital operation, securities and fund investment, as well as investment planning and consulting services.

As the financial main business carrier of Qingdao Guoxin Development (Group) Co., Ltd., Qingdao Guoxin Finance relies on the financial resources and policy support of Qingdao City and Guoxin Group. Through market-oriented, professional, and international operations, it is positioned as a platform for financial resource integration and operation, a platform for financial service format expansion, and a platform for connecting domestic and foreign financial institutions with local enterprises. It constructs an integrated full industrial chain layout of "financing, investment, lending, guarantee, and service," cultivating a comprehensive financial services institution with a complete range of categories, strong competitiveness, a high degree of marketization, and regional influence, empowering the sustainable development of the real economy.

Angel Capital is a boutique investment bank specializing in the life sciences and healthcare sectors. Founded by seasoned CFOs and investors from the medical industry, it focuses on innovative drugs and medical devices. Over the past two years, the team has completed more than ten financing cases in the healthcare industry, with a total amount exceeding 1 billion RMB. The advantage of Angel Capital's investment advisory business lies in its extensive network of niche medical investment institutions and industrial investment firms. It connects enterprises with the most suitable institutions based on their development needs and collaborates with multiple healthcare consulting firms to provide one-stop services for medical technology companies. Services include financing, CFO-level financial consulting, biotech park resource对接s, equity incentives, digital consulting, IPO compliance, and more.