Home Yue Xiang Yue Health Monthly Report - May 2026

Yue Xiang Yue Health Monthly Report - May 2026

May 28, 2026 17:35 CST Updated 17:35
Baheal Medical

Health Brand Commercialization Platform

ScieHome

Developer of Ultrasound Energy Technology and Pharmaceutical-Device Combination Technology

Trinomab

Developer of Natural Fully Human Monoclonal Antibody New Drugs

jifu Medical

Provider of R&D, Production, Sales, and Services for High-End Gastrointestinal Medical Products

Catug

One-stop CDMO Service Provider

Abogen

Nucleic Acid Drug Developer

viestar

Precision Optical Biopsy Technology R&D and Manufacturer


q

Click to Follow?|Focused on Global Biopharma Investment


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EFUNG CAPITAL
Monthly Health Digest
2026.05 Monthly Report
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Year 5


Since the beginning of 2026, China's capital market has demonstrated resilience beyond expectations. In the first quarter, GDP expanded by 5.0% year-on-year, surpassing broad market expectations. Entering May, A-shares have sustained their upward momentum, with the Shanghai Composite Index breaching the 4,200-point level to reach an 11-year high. This alignment of macroeconomic data and market sentiment has created a rare window of opportunity for high-quality enterprises to conduct capital operations and pursue business expansion.


Against a backdrop of favorable macroeconomic conditions, multiple portfolio companies of Yifeng Capital have seen a concentrated series of financing progress and business breakthroughs in May. Spanning from innovative drug R&D to high-end medical devices, numerous portfolio projects have successively achieved substantial progress at critical milestones, including clinical advancement, regulatory approvals, and follow-on financing rounds.






IPO and Financing Progress of Portfolio Companies

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Biostar

· Secures RMB 100 Million in Capital Increase, Introduces Strategic Shareholders

On May 8, Biostar announced that Baheal Medical subscribed to 25 million newly issued shares by Biostar.


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ScieHome

· Secures Series A Funding to Build an Innovative Ultrasound Ecosystem Featuring "Ultrasound Energy, Drug-Ultrasound Synergy, and Precision Diagnosis & Treatment"

Recently, ScieHome completed a Series A financing round worth tens of millions of RMB, this roundThe financing round was exclusively led by Yifeng Capital.


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Trinomab

· Prospectus Registration Draft, Accelerating Sprint to Capital Markets

On May 22, Trinomab submitted the registration draft of its IPO prospectus, accelerating its push to enter the capital market.



Clinical and Commercialization Updates of Portfolio Companies

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jifu Medical

· Featured at the 2026 Wuhu Health Conference & The 12th Jinling Health Forum

From May 22 to 24, the "2026 Wuhu Health Conference and the 12th Jinling Health Forum" was held in Nanjing. Jifu Medical showcased its independently developed capsule endoscopy system, the MCS-170, at the conference.


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Nurotron

· Steadfast Dedication and Continuous Excellence Forge New Global Heights for Nurotron

From May 10 to 13, the 18th International Conference on Cochlear Implants and Other Implantable Technologies was successfully held. Nurotron showcased its latest research findings and innovative products.


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`Catug`

· Catug Makes a Debut at the European mRNA CMC Summit

From May 20 to 21, the 4th European mRNA Process Development & CMC Summit was held in Germany. Catug comprehensively participated in this European summit.


· In collaboration with the Suzhou Institute for Innovative Drug Research and Abogen atmRNAAdvances in Vaccine Delivery

Recently, a team led by Professors Zhiyuan Zhong and Congcong Xu at the Suzhou Institute for Innovative Drug Research, in collaboration with Professor Fangfang Zhou, Catug, and Abogen Biosciences, successfully developed a transferrin receptor-mediated monocyte-targeted mRNA delivery platform—TRAP.


· Debut at the ASGCT 2026 Annual Meeting in Boston

The 29th Annual Meeting of the American Society of Gene & Cell Therapy (ASGCT) was held in Boston from May 11 to 15. Dr. Wang Xiao, CEO of Catug, was invited to participate in the roundtable forum at a satellite symposium.


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Viestar

· 2026 Nanshan Respiratory Health Forum Held

On May 30–31, 2026, the 2026 Nanshan Respiratory Health Forum was held in Guangzhou. Viestar delivered a special presentation on the clinical application value and latest achievements of its independently developed BIOPSEE® Beixi® probe-based respiratory confocal laser endomicroscopy in respiratory diseases.


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`Huiguan Biotechnology`

· Featured at the 21st CIOE "Optics + AI" Special Exhibition Area

On May 18, the 21st "Optics Valley of China" International Optoelectronics Expo opened in Wuhan. Huiguan Bio's Light-Sheet 3D AI-Powered Pathology Scanner was invited to showcase in the "Optics + AI" featured exhibition zone.


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Yinno Medical

· Focusing on Innovative Applications of Surrogate Endpoints to Empower Efficient Cardio-Renal Drug Development

From May 14 to 16, the Drug Information Association (DIA) China Annual Meeting was held in Shanghai. Guo Shaohua, Vice President of Yinuo Pharmaceutical, attended the DIA China specialized sub-forum titled "Innovation and Application of Surrogate Endpoints in Cardiovascular and Renal Drug Development".


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Tiangang Immunology

· Invited to Attend the 2026 Academic Conference of the Basic Immunology Branch of the Chinese Society for Immunology

From May 15 to 17, 2026, the Academic Conference of the Basic Immunology Branch of the Chinese Society for Immunology was held in Anhui. Professor Tian Zhigang, founder of Hefei Tiangang Immunology, was invited to attend and deliver an invited keynote presentation.


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Pinshan Biotech

· Showcased at the 25th China Biological Products Conference

Recently, the 25th China Biological Products Conference officially opened. Pinsun Biotech showcased its comprehensive product portfolio.


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Cregis

· First Clinical Study of a Domestic Visible Embolic Microsphere — TraSphere® Shanyuan® FIM Study Published in a Prestigious Journal

Recently, Coreach's independently developed world's first visualizable, uniform-particle-size, biomimetic core-shell embolic microsphere—Shanyuan® TraSphere®—has reported another breakthrough: the results of its first-in-human study on transarterial chemoembolization (TACE) for liver cancer have been officially published in the authoritative journal *Journal of Vascular and Interventional Radiology*.


· Published in Authoritative Journals

Recently, Cores Medical announced another milestone: following the completion of China’s first pre-market randomized controlled trial (RCT) for its Ruiyuan® DiaSphere® embolic microspheres, the post-market clinical research paper was published in the authoritative journal *Journal of Interventional Radiology* on May 18.


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Aomo Pharma

· Shi Huifang, Secretary of the CPC Shaoxing Municipal Committee, Inspects Aomo Pharmaceutical's Industrialization Base in Shaoxing Binhai New Area

On May 7, Shi Huifang, Secretary of the Shaoxing Municipal Party Committee, and her delegation visited the Aopu Innovative Drug Production Base of Aomo Pharmaceutical, located in the Binhai New Area, to conduct an on-site inspection of the project's construction progress.


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Hanno Medical

· Collaborating with Global Experts to Explore the Clinical Boundaries of ECMO

From May 7 to 9, EuroELSO 2026 was held in Ireland. Hanno Medical once again showcased the Lifemotion® ECMO system at this year's EuroELSO and presented two specialized academic symposia on the theme "ECMO Beyond the Rules".


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Trinomab

· Partnering with the ESG Rescue Alliance

On May 12, Trinomab officially signed the 《Cooperation Agreement on Corporate Social Responsibility (ESG) Participation in the Yunnan Provincial Disaster Relief Alliance》 at the Disaster Preparedness and Relief Center of the Yunnan Provincial Red Cross Society, formally joining the Yunnan Provincial Disaster Relief ESG Alliance.


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Zhongmou Medical

· Showcasing Clinical Translation Achievements and Next-Generation Retinal Gene Therapy Platform at ASGCT 2026

Recently, Zhongmou Medical delivered two oral presentations and presented one poster at the 2026 American Society of Gene & Cell Therapy (ASGCT) Annual Meeting held in Boston.


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Huamei Haolian

· “A I + Health Management” Becomes the Core Engine for Upgrading the Healthcare Ecosystem

On May 9, the sub-forum “New Discourse on AI Think & Share Forum” of the 2026 World Brand Moganshan Conference was held in Zhejiang. Xu Bingyu, Founder and CEO of Huamei Haolian, delivered a keynote speech titled “Innovative Practices in AI + Big Health Services”.


· Attend Wujiang Venture Capital 2026 Annual Meeting

On May 18-19, the Wujiang Venture Capital 2026 Spring Partners Meeting was held in Ningbo, HealthlinkFounder & CEOXu Bingyu was invited to attend the "AI Empowering the Real Economy: Implementation Opportunities, Barrier Building, and Regional Ecosystem Cultivation" roundtable forum.


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Ailios

· Debut at INTERPHEX WEEK 2026

From May 20 to 22, the Japan International Pharmaceutical Industry Exhibition will open in Tokyo. Aerios will showcase its comprehensive pharmaceutical filtration process solutions.


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VIMED Medical

· “Hand-Eye-Brain” Coordinated Interventional Diagnosis and Therapy Solution Shines in Paris

From May 19 to 22, EuroPCR 2026 officially opened in Paris. Weimai Medical made its official debut, showcasing its core product, the ETcath® interventional surgical robot, and its complete range of DSA angiography systems.


· The First Affiliated Hospital of Xi'an Jiaotong University Utilizes VMAI Medical

Recently, the team led by President Yuan Zuyi of The First Affiliated Hospital of Xi'an Jiaotong University successfully performed a high-risk complex coronary bifurcation lesion procedure using a domestically manufactured interventional robot from Vimai Medical.


· "First-of-Its-Kind" Core Strength Ushers in a New Era of Precision Medicine

Recently, the 28th China Beijing International High-Tech Expo successfully concluded at the China National Convention Center. V-Medical made a prominent appearance, showcasing its ETcath® interventional surgical robot.


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3D Medicines

· Envita® Phase III Clinical Trial for Neoadjuvant / Adjuvant Therapy in Non-Small Cell Lung Cancer Completes Enrollment Ahead of Schedule

On May 21, 3D Medicines announced that the randomized, controlled, double-blind, multicenter Phase III clinical trial of its commercialized product ENWEIDA® (envafolimab injection) for neoadjuvant/adjuvant therapy in resectable non-small cell lung cancer (NSCLC) has completed patient enrollment ahead of schedule.


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Healthgen

· A Case Report on the Perioperative Application of 「Aofumin®」 Published in 《Chinese Journal of New Drugs》

Recently, a research team led by Professor Yang Zhiyong from the Department of Hepatobiliary and Pancreatic Surgery at Zhongnan Hospital of Wuhan University published a case report on the perioperative application of the world’s first plant-derived recombinant human albumin injection (Oufumin® by OriginBiologics) in the *Chinese Journal of New Drugs*.


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Biostar

· 4 Clinical Study Abstracts Presented at ASCO 2026

Recently, ASCO 2026 was held in the United States. Data from four recent clinical studies on Biostar’s core products, utidelone capsules and utidelone injection were presented as posters.



Portfolio Companies' New Drug and Medical Device Approval and Launch Status

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Huayuan Regeneration

· World's First iPSC-Derived Kidney Cell Therapy Product Approved for Clinical Trials

On May 14, the official website of the Center for Drug Evaluation (CDE) under the National Medical Products Administration (NMPA) announced that the first indication of “Human-derived Renal Progenitor Cell Injection (ARM101),” submitted by Huayue Nephrology, a wholly-owned subsidiary of Huayuan Regenerative Medicine, has been approved for clinical trials.


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Lingyi Biotech

· IND Application for LY-M003 Injection, a Gene Therapy for Wilson’s Disease, Receives Tacit Approval from the National Medical Products Administration

On May 9, Lingyi Biotech announced that its independently developed LY-M003 injection, a gene therapy drug for Wilson's disease, has officially received implied approval from the National Medical Products Administration (NMPA) for its Investigational New Drug (IND) clinical trial as a Class 1 therapeutic biological product.



# Portfolio Company Honors

Awarded 【[VBData] 2026Future Healthcare Top 100: Top 100 Innovative Medical Devices & Smart Manufacturing List

· Weimai Medical, Tingsheng Technology, Jifu Medical, Ruijing Biotechnology

Awarded in 【VBData】2026 Future Healthcare 100: Innovative Pharmaceuticals & Biologics TOP 100 List

· Trinomab、RaynoMed、NewElement Pharma、Omero Pharma、Pulei Medical、Gaoguang Pharma、Dingchi Biotech、Bendao Biotech、Lingyi Biotech

Named to the Top 100 of the 【VCBeat】2026 Future Healthcare 100 Ranking for Innovative Health Services & Industry Chain Services

·  Baijun Biotech, Catug, AiliAus 

HonorObtain【PharmaCube】2025 Annual Top 15 Business Development Deals in China's Innovative Drug Sector

·  Harbour BioMed, QuantaBio

GloryObtained【PharmaCube】2025 Annual Top 15 High-Quality Frontier Innovation Achievements in China's Innovative Drugs

·  Huanma Biotech

GloryObtained【PharmaCube】2025 Top 30 Chinese Innovative Drugs in Global Competitiveness

·  Ascentage Pharma, Harbour BioMed

GloryObtain【VBData】2026 Future Healthcare 100 · Person of the Year Award — Top 50 Most Influential Innovators in China's Healthcare Industry

·  Dr. Huaxin Liao, Co-founder, Chairman and Chief Technology Officer of Trinomab

Recognized as One of the Top Ten Advances in China's Medical Biotechnology in 2025

·  Healthgen Biotechnology Oforin®

Honored as 【Rongzhong】 2025-2026 China Top 50 Pre-Unicorn Enterprises

·  Shengsi Biotech



Yifeng Honors




"The First New Voice"


Yifeng Capital-

Top 30 Most Active Venture Capital Firms in China in Q1 2026

Top 10 Most Active Healthcare Investment Institutions in Q1 2026




Rongzhong


Yifeng Capital CEO Zhu Pai-

2026 China's Best Young Investor



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