Home Yue Xiang Yue Health Submits IPO Prospectus in May 2026

Yue Xiang Yue Health Submits IPO Prospectus in 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


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EFUNG CAPITAL
Monthly Health Review
2026.05 Monthly Report
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Year 5


Since 2026, China’s capital markets have demonstrated resilience beyond expectations. In the first quarter, gross domestic product (GDP) grew by 5.0% year on year, surpassing market consensus; entering May, A-shares continued their strong performance, with the Shanghai Composite Index breaking through the 4,200-point mark to reach an eleven-year high. The resonance between macroeconomic data and market sentiment has created a rare window of opportunity for high-quality enterprises to pursue capital operations and business expansion.


Amid a Favorable Macro Environment, Multiple Portfolio Companies of Yifeng Capital Achieve Concentrated Financing Progress and Business Breakthroughs in May. From innovative drug development to high-end medical devices, multiple portfolio projects have successively achieved substantial progress at key milestones, including clinical advancement, product approvals, and subsequent financing rounds.






Progress in IPOs and Financing of Portfolio Companies

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Biostar

· Secured Hundreds of Millions in Capital Increase, Introduced Strategic Shareholders

On May 8, Biostar announced that Baheal Medical had subscribed for 25 million new shares issued by Biostar.


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ScieHome

· Secured Series A Funding to Build an Innovative Ultrasound Ecosystem Featuring “Ultrasound Energy, Drug-Ultrasound Synergy, and Precision Diagnosis and Treatment”

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


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Trinomab

· Registration Draft of Prospectus: Accelerating Sprint to Capital Markets

On May 22, Trinomab submitted the registration version of its prospectus, accelerating its push into the capital markets.



Clinical and Commercialization Updates of Portfolio Companies

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jifu Medical

· Debut at the 2026 Wuhu Health Conference and the 12th Jinling Health Forum

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


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Nurotron

· Diligent Practice and Continuous Improvement Forge New Global Heights for Nurotron

From May 10 to 13, the 18th International Conference on Cochlear Implants and Other Implantable Technologies was grandly held. Nurotron made a spectacular appearance with its latest research achievements and innovative products.


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Catug

· CATUG Makes Appearance at European mRNA CMC Summit

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


· in collaboration with Suzhou Institute for Innovative Drug Research and Abogen BiosciencesmRNAAdvances in Vaccine Delivery

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


· Debut at the ASGCT 2026 Annual Meeting in Boston

From May 11 to 15, the 29th Annual Meeting of the American Society of Gene & Cell Therapy was held in Boston. Dr. Wang Xiao, CEO of Catug, was invited to attend the roundtable forum at the satellite symposium.


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Jingwei Shida

· 2026 Nanshan Respiratory Health Forum Held

May 30–31, 2026 Nanshan Respiratory Health Forum was held in Guangzhou. A special session was dedicated to sharing the clinical application value and latest achievements of the BIOPSEE® Beixi® probe-based confocal laser endomicroscopy for respiratory diseases, independently developed by Jingwei Shida.


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HuiGuan Bio

· Debut at the "Optics + AI" Featured Exhibition Area of the 21st China International Optoelectronic Exposition

On May 18, the 21st “China Optics Valley” International Optoelectronics Expo kicked off in Wuhan. Huiguan Biology’s Light-Sheet 3D Digital-Intelligent Pathology Instrument was invited to be showcased in the “Optics + AI” featured exhibition area at this year’s event.


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InnoMed

· Focusing on Innovative Applications of Surrogate Endpoints to Empower Efficient R&D of Novel Cardiorenal Drugs

From May 14 to 16, the DIA China Annual Meeting was held in Shanghai. Guo Shaohua, Vice President of Innovo Pharmaceuticals, attended the DIA China special sub-forum on “Innovation and Application of Surrogate Endpoints in Cardiovascular and Renal Drug Development.”


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Tiangan Immunology

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

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


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Pinshan Biotech

· Debut at the 25th China National Conference on Biological Products

Recently, the 25th China Biological Products Conference officially opened. Pinshan Biotechnology showcased its full product portfolio.


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Coracle

· First Clinical Study on Domestically Produced Visualized Embolic Microspheres—TraSphere® Shanyuan® FIM Study Published in Prestigious Journal

Recently, Clarith’s independently developed world’s first visualized uniform-particle-size biomimetic core-shell embolic microspheres—Shanyuan® TraSphere®—achieved another milestone: its first-in-human study results in transarterial chemoembolization (TACE) for liver cancer were officially published in the authoritative journal Journal of Interventional Radiology.


· Published in Authoritative Journals

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


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Aumo Pharma

· Shaoxing Municipal Party Committee Secretary Shi Huifang Conducts Research at Aomo Pharmaceutical’s Industrialization Base in Shaoxing Binhai New Area

On May 7, Shi Huifang, Secretary of the Shaoxing Municipal Committee of the Communist Party of China, and his delegation visited Aomo Pharmaceutical’s Aopu Innovative Drug Production Base in the Binhai New Area to conduct an on-site investigation into the progress of project construction.


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Hannuo Medical

· Joining Hands with Global Experts to Explore the Clinical Boundaries of ECMO

From May 7 to 9, EuroELSO 2026 was held in Ireland. Hanuo Medical once again showcased its Lifemotion® ECMO system at this year’s EuroELSO and delivered two specialized academic symposia centered 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, joining the Yunnan Provincial Disaster Relief ESG Alliance.


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Zhongmou Medical

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

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


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Huamei Haolian

· “AI + Health Management” Becomes the Core Engine for Upgrading the Medical Ecosystem

On May 9, the sub-forum “New Talk AI Think Tank” of the 2026 World Brand Moganshan Conference was held in Zhejiang. Xu Bingyu, Founder and CEO of Huamei Haolian, delivered a keynote speech titled “AI + Big Health Service Innovation Practice.”


· Attending the Wujiang Venture Capital 2026 Annual Conference

May 18–19, Wujiang Venture Capital 2026 Spring Partners Meeting Held in Ningbo, Huamei HaolianFounder, CEOXu Bingyu was invited to attend the roundtable forum titled “AI Empowering the Real Economy: Implementation Opportunities, Barrier Construction, and Regional Ecosystem Cultivation.”


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Ailios

· Debut at INTERPHEX WEEK 2026

May 20–22: Japan International Pharmaceutical Industry Exhibition Opens in Tokyo. Elios Showcases Comprehensive Pharmaceutical Filtration Process Solutions.


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Vima Medical

· “Hand-Eye-Brain” Collaborative Interventional Diagnosis and Treatment Solution Shines in Paris

From May 19 to 22, EuroPCR 2026 officially opened in Paris. Weimai Medical made its official debut with its core products, the ETcath® interventional surgical robot and its full line of DSA angiography systems.


· The First Affiliated Hospital of Xi'an Jiaotong University utilizes Weimai Medical

Recently, the team led by President Yuan Zuyi of the First Affiliated Hospital of Xi’an Jiaotong University successfully performed surgery for high-risk complex coronary bifurcation lesions using a domestically produced interventional robot from Weimai Medical.


· “First-Set” Hard Power, Ushering in a New Era of Precision Medicine

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


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3D Medicines

· Envida® Phase III Clinical Study in Neoadjuvant/Adjuvant Treatment of Non-Small Cell Lung Cancer Has Completed Enrollment Ahead of Schedule

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


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WuYuan Biologics

· “Case Report on the Perioperative Application of Aofumin®” Published in Chinese Journal of New Drugs

Recently, Professor Yang Zhiyong’s team 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 (Huiyan Bio’s Aofumin®) in Chinese Journal of New Drugs.


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Biostar

· Four Clinical Study Abstracts Featured at ASCO 2026

Recently, ASCO 2026 was held in the United States. Four latest clinical study data sets of Biostar’s core products, Utidelone Capsules and Utidelone Injection, were presented in the form of posters.



Approval Status of New Drugs and Medical Devices from Investee Companies for Market Launch

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Huayuan Regeneration

· World’s First iPSC-Derived Renal Cell Therapy Product Approved for Clinical Trials

On May 14, the Center for Drug Evaluation (CDE) of the National Medical Products Administration (NMPA) announced on its official website that the first indication for “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 Drug for Hepatolenticular Degeneration, Receives Implicit Approval from the National Medical Products Administration

On May 9, Lingyi Biologics announced that its independently developed gene therapy drug for Wilson’s disease, LY-M003 injection, has officially received implicit approval from the National Medical Products Administration (NMPA) for an Investigational New Drug (IND) application as a Class I therapeutic biological product.



Honors of Investee Companies

Awarded [[Arterial Network] 2026Future Healthcare Top 100: Innovative Devices and Intelligent Manufacturing TOP 100

· Vimai Medical, Tingsheng Technology, jifu Medical, Ruijing Biotechnology

Honored with the TOP 100 on [VBData] 2026 Future Healthcare 100 List for Innovative Pharmaceuticals and Biological Products

· Trinomab, Zhongsheng Ruichuang, New Element Pharmaceutical, Aumo Pharma, Pulai Medical, Gaoguang Pharmaceutical, Dingchi Biotech, Bendao Gene, Lingyi Biotech

Honored to be listed in the [VCBeat] 2026 Future Healthcare 100 – Top 100 Innovative Health Services and Industry Chain Services

·  Baijun Biotech, Catug, AiliOs 

RongAwarded[PharmaCube] Top 15 Business Development Deals for Innovative Drugs in China in 2025

·  Harbour BioMed, Quanxin Biologics

RongAwarded[PharmCube] Top 15 High-Quality Frontier Innovation Achievements in China's Innovative Drugs for 2025

·  RingCode Biotech

RongObtained【PharmaCube】Top 30 Chinese Innovative Drugs with International Competitiveness in 2025

·  Ascentage Pharma, Harbour BioMed

RongAwarded【VB100】2026 Future Healthcare 100 · Person Award – 50 Most Influential Innovators in China’s Healthcare Industry

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

Named Among the Top 10 Advances in Chinese Pharmaceutical Biotechnology in 2025

·  Wuhan HealthGene Biopharmaceutical Co., Ltd. Aofumin®

Honored as One of the Top 50 Pre-Unicorn Companies in China for 2025-2026 by [Rongzhong]

·  Shengsi Biotech



Yifeng Honors




First New Voice


Yifeng Capital -

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

Top 10 Most Active Healthcare Investment Firms in Q1 2026




Rongzhong


Zhu Pai, CEO of Yifeng Capital -

2026 China's Best Young Investment Figures



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