Tongee Medical raises over RMB 100 million in Series C+, with Riemann Hypothesis as exclusive financial advisor to investor Nantong Investment Management

Recently, Tongee Medical, a global pioneer in interventional weight loss and metabolic disease treatment technology with its world-first endoscopic gastric bypass shunt system, announced the completion of its Series C+ financing round totaling over RMB 100 million. This round was invested by several institutions including Nantong Investment Management, with Riemann hypothesis serving as the exclusive financial advisor to Nantong Investment Management, providing full support to achieve an efficient and closed-loop financing process. The proceeds will be primarily used for clinical translation and commercial deployment of the company's core product pipeline, accelerating the clinical adoption and market promotion of the gastric bypass shunt technology.

Founded in August 2016, Tongee Medical is a pioneer and leader in the global field of interventional metabolic disease therapy. With its world-first "Gastric Bypass Shunt System" as the core product, the company has established a novel "interventional weight loss" therapy that bridges the gap between pharmacological treatment and surgical procedures. It is the only innovative medical device company in China that has received approval for intestinal interventional treatment of metabolic diseases.

The product received Class III innovative medical device approval from China's National Medical Products Administration in January 2024 (the world's first such approval). In October of the same year, it was granted Breakthrough Device designation by the U.S. Food and Drug Administration. The product has also been included in the National Health Commission's "Guidelines for Diagnosis and Treatment of Obesity" and the "Expert Consensus on Digestive Endoscopic Treatment for Obesity in China," and has become a benchmark product in the field of bariatric and metabolic interventional therapy in China.

This unique differentiated pathway not only fills the treatment gap in metabolic diseases—where non-invasive options offer limited efficacy and invasive options carry significant procedural risks—but also opens up new commercial possibilities for the entire industry, attracting widespread attention and strong recognition from the capital market.

To date, the Gastric Bypass Shunt System has been adopted in over 300 hospitals across China, with cumulative clinical implantations exceeding 3,500 cases. The company has filed over 170 patents both domestically and internationally. Its products have been approved for market in 10 countries and regions worldwide (including the Philippines, among others), and CE marking in the European Union is expected to be granted within the year. Tongee Medical is a globally oriented, world-leading, and globally positioned medical technology company.

The company is accelerating its listing process on the Hong Kong Stock Exchange. An IPO application (under Chapter 18A) was submitted on February 9, 2026. In early April, the company was officially included in the overseas issuance and listing filing list by the International Department of the China Securities Regulatory Commission, and is currently in the review and inquiry stage. The funds raised in this round will be primarily used to advance the clinical development, commercial promotion, and subsequent R&D investment of the company's core product pipeline, accelerate the global adoption of gastric bypass shunt technology, and provide safer and more efficient clinical pathways for patients with obesity and metabolic diseases worldwide.

Tongee Medical's core team is composed of top-tier research and development talent from both China's domestic industry and the scientific community, providing solid technical and operational support for the company's technology R&D and commercial operations. Core team members have over a decade of experience working at top-tier multinational biopharmaceutical companies. The core R&D team, in particular, possesses deep expertise in materials science R&D. This multi-disciplinary, high-caliber talent configuration provides strong capability support for the domestic implementation and large-scale operation of the gastric bypass shunt technology.