HuaMu Medical Secures Nearly RMB 100 Million Series B Funding to Advance Degradable Biomaterials as Alternatives to Traditional Implants

VCBeat learned that on January 28, 2021, Farmove Medical officially announced the completion of its nearly RMB 100 million Series B financing round, invested by the Heze Yankuang Jingu Wenjing Fund.The funds raised in this financing round will be primarily used to conduct multi-center clinical trials for the company’s independently developed products and to continuously advance the regulatory registration and market launch plans for its biodegradable biomaterials.

Farmove Medical is an innovative medical device company. The implant-grade absorbable material technology platform it has established demonstrates strong scalability. Leveraging this core material technology, the company has developed a range of innovative products for application across multiple medical specialties, including absorbable interbody fusion cages, absorbable composite ligament fixation screws, absorbable suture anchors, and absorbable craniomaxillofacial fixation systems, among others.The first absorbable sports medicine product entered the clinical stage in 2020.

Sports Medicine Biodegradable Implantable Devices

Luo Yuxing, General Manager of Farmove Medical, stated, “Over the past year, amid the impact of the pandemic, capital markets have become increasingly cautious; however, investment enthusiasm for innovative technologies and ‘chokepoint’ industries has only continued to grow.”The biodegradable implantable device sector in which Farmove Medical operates remains a white space in China, with the market long dominated by foreign companies such as Johnson & Johnson, Medtronic, and Smith & Nephew.With years of technological expertise and a diverse product portfolio, the company is well-positioned to break the import monopoly and has garnered significant interest from investors. Previously, Farmove Medical had already attracted investment from firms such as Cowin Capital, Hualing Capital, Dynamic Balance Capital, Dingxin Capital, and Taiyu Capital.

Biodegradable implantable devices can degrade and be absorbed within the body, eliminating the need for secondary surgical removal. They possess bioactivity that accelerates bone fusion, serving as alternatives to traditional titanium alloys and PEEK materials, thereby addressing numerous limitations associated with conventional implants. These devices have become a prevailing trend in both technological development and clinical application.

Composite Biodegradable Biomaterials

However, due to the significant challenges in material innovation and difficulties in ensuring stability and safety, the domestic field of biodegradable biomaterials remains in its early stages of development, with no mature companies yet emerging. Internationally, the biodegradable implantable devices launched by Johnson & Johnson and Medtronic are primarily applied in sports medicine. Consequently, the substantial demand for biodegradable materials in various other fields, such as spinal surgery and maxillofacial surgery, remains far from being met.

Farmove Medical has established a comprehensive and in-depth product portfolio in the field of biodegradable biomaterials, covering therapeutic areas including spinal orthopedics, trauma repair, sports medicine, maxillofacial surgery, and neurosurgery. The company has launched multiple biodegradable and absorbable products, such as interbody fusion cages, ligament reconstruction fixation systems, artificial anterior cruciate ligaments (ACL), and absorbable plate-and-screw fixation systems.

According to Luo Yuxing, the market for bone and soft tissue devices—including spinal orthopedics, sports medicine, foot and ankle trauma, and craniomaxillofacial applications—has long been ranked among the four most promising segments in the global medical device industry, with a market size of $51 billion. In 2018, the total number of orthopedic surgeries performed in China reached 4.45 million, representing an annual growth rate of approximately 16.3%. Among these,Nearly half of the market could eventually be upgraded or replaced by biodegradable biomaterial devices, or incorporate biodegradable biomaterial technologies.For instance, in China’s sports medicine field, biodegradable implantable devices have replaced traditional implants as the preferred choice for physicians. It is anticipated that biodegradable implantable devices will gradually supplant traditional implants across multiple therapeutic areas in the future, indicating substantial potential for industry growth.

As a leading domestic player in biodegradable biomaterials, Farmove Medical has established a Class 10,000 cleanroom workshop compliant with GMP requirements, completing the construction ofChina's First R&D and Manufacturing Testing Platform for ISO 13485-Compliant Medical Implant-Grade Biodegradable and Absorbable Materials and Products,Possesses commercial-scale production capabilities. In the future, Farmove Medical will focus on biodegradable biomaterials, continuously expanding the application of biodegradable implantable devices in related fields to provide better product options for clinicians and patients.

As an investor in this round, the Heze Yankuang Jingu Wenjing Fund stated: “We are optimistic about the Farmove Medical founding team’s years of accumulated industry experience in their niche sector, as well as the founder’s vision and sense of mission. Farmove Medical aligns closely with Heze’s development plan for the healthcare industry. We hope to leverage Farmove Medical’s extensive industrial resources to bring continuous innovative momentum to Heze’s local healthcare sector, benefiting more patients. By focusing on the highest-quality resources, we aim to support Heze in building a trillion-yuan health industry technology cluster.”