Humatrix Medical Secures RMB 100 Million Series A+ Financing to Accelerate Clinical Trials and Global Expansion of China's First Biological Small-Diameter Vascular Graft

VCBeat has exclusively learned that Humstrix Medical (Suzhou) Co., Ltd. (“Humstrix Medical”) has announced the completion of its RMB 100 million Series A+ financing round. This round of financing was led byPuhua CapitalLead Investor,Suzhou Guofa Venture Capital, Hangzhou Paradise Silicon ValleyCo-investment, Existing ShareholdersIDG Capital, SHCContinuous Support,YINGLAI CAPITALServed as the lead financial advisor. The funds from this round will be primarily used to advance the registration clinical trials for the core product, small-diameter biological vascular grafts, initiate European clinical studies for the product, and expand the new pipeline.

As the first company in China and the second globally capable of mass-producing small-diameter (inner diameter ≤6mm) tissue-engineered blood vessels, Humstrix has rapidly grown into an innovation benchmark in the fields of tissue engineering and regenerative medicine since its establishment in September 2021. Against a backdrop of pressure on the overall financing environment, the company has successfully completed five rounds of funding within its first three years of operation, leveraging its unique innovative technology pathway that complies with FDA standards.

Notably, the completion of this round of financing coincides with the company’s core product, LineMatrix (Naimaitong).^®The biological artificial blood vessel has officially entered the critical phase of the National Medical Products Administration’s (NMPA) Special Review Procedure for Innovative Medical Devices. This milestone not only reflects capital support for the company’s innovative device projects but also demonstrates market recognition of the technological pathway and long-term industrial value of domestically produced high-end artificial blood vessels.

Cardiovascular diseases have long remained the leading cause of death globally. In recent years, domestically produced high-end cardiovascular medical devices in China have achieved significant breakthroughs in fields such as artificial heart valves and artificial hearts. However, in the key niche segment of biological vascular grafts, no domestic products have yet been launched on the market, and clinical applications remain dependent on imports.

From a clinical application perspective, the demand for small-diameter synthetic vascular grafts is particularly urgent in indications such as hemodialysis vascular access for chronic renal failure, lower extremity arterial trauma repair, lower extremity atherosclerotic bypass surgery, and coronary artery bypass grafting (CABG). Notably, since the inception of CABG nearly 60 years ago, physicians have been limited to using patients’ autologous arteries or veins as conduit vessels, with no commercialized synthetic grafts available. In Europe and the United States, the cumulative annual number of CABG procedures exceeds one million. In China, the volume of CABG procedures has increased nearly eightfold over the past decade, surpassing 80,000 cases in 2024, with an average of 2.5 conduit vessels used per patient.

Recently, Xeltis and Vascudyne have respectively announced partial results from their coronary artery bypass grafting clinical trials. Medical 21 launched its European clinical trial this month, and Humacyte plans to initiate clinical trials in Q1–Q2 2026. Keeping pace with international peers, Humstrix has accumulated long-term follow-up data from preclinical large-animal studies and is expected to launch clinical trials for its 3.5-mm inner diameter CoroMatrix product in 2026–2027.^®️Clinical Trials of Biological Artificial Vessels for Coronary Artery Bypass Grafting, While According to FDA Guidelines, Traditional Artificial Vessels Containing Polymer Materials Have Been Strictly Prohibited for Use in Coronary Artery Bypass Grafting Over the Past 40 Years.

CoroMatrix^®️DSA Follow-up Results of Artificial Grafts Used in Sheep Coronary Artery Bypass Grafting

Humstrix has precisely targeted this “chokepoint” area. The company is currently focusing on the research and development of small-diameter biological artificial blood vessels, committed to providing alternatives that more closely resemble “living blood vessels” for high-demand scenarios such as establishing hemodialysis access, repairing lower limb arterial injuries (including battlefield vascular injuries), treating lower limb atherosclerosis, and performing coronary artery bypass grafting.

Humstrix's Self-Developed LineMatrix^®Biological Artificial Vascular Grafts: Addressing the Core Challenges in HemodialysisBy leveraging innovative technologies and patented processes, these grafts preserve and optimize the intact three-dimensional structure of the natural vascular extracellular matrix. This biomimetic design enables complete endothelialization of the lumen after implantation, effectively transforming the artificial graft into a “living vessel.” Furthermore, it allows host cells to self-repair the vessel wall at puncture sites, thereby significantly extending service life and reducing the risk of complications.

LineMatrix^®Not only is it the first domestically produced small-diameter (≤6mm) biological artificial vascular graft to enter the Special Review Procedure for Innovative Medical Devices, but it has also demonstrated exceptional potential in clinical performance. On November 19, 2025, Humstrix announced LineMatrix at the 52nd VEITHsymposium 2025.^®FIM Clinical Trial Results for Bioengineered Vascular Grafts: The Product Demonstrates Superior Patency, Biocompatibility, and Safety Compared to Traditional ePTFE Vascular Grafts

The photo shows Professor Qiu Xuefeng, founder of Humstrix, presenting clinical research findings at the VEITHsymposium 2025 annual meeting.

Humstrix’s rapid rise is deeply rooted in the unique and comprehensive capability structure of its founder, Professor Qiu Xuefeng—an experienced cardiovascular surgeon, a scientist driving disruptive innovation, and an entrepreneur with exceptional managerial acumen.

Professor Qiu Xuefeng, Founder of Humstrix

As a cardiovascular surgeon who has long been on the front lines of clinical practice, Professor Qiu Xuefeng holds a Ph.D. in Cardiac and Great Vessel Surgery from Union Hospital, Tongji Medical College, Huazhong University of Science and Technology, and serves as a Chief Physician and Doctoral Supervisor. With over two decades of clinical experience, Professor Qiu has a profound understanding of the pain points and limitations associated with the use of synthetic vascular grafts in diverse clinical scenarios.

At the scientific research level, Professor Qiu pursued advanced studies at the California Institute for Regenerative Medicine (CIRM) and engaged in research and project development at top-tier universities such as the University of California, Berkeley, and the University of California, Los Angeles. With a long-term focus on tissue engineering and regenerative medicine technologies, he has published more than 60 papers in fields related to small-diameter tissue-engineered blood vessels and cardiovascular clinical applications, thereby achieving a systematic accumulation of expertise spanning from basic research to clinical translation.

What is even more remarkable is that, before formally embarking on his entrepreneurial journey in the medical device sector, Professor Qiu had already achieved success in earlier ventures—such as founding audio equipment and home appliance retail chains—during the early stages of his career over two decades ago. This experience has endowed him with stronger comprehensive capabilities in manufacturing, organizational management, and commercialization. In 2022, he chose to devote himself fully to entrepreneurship, transforming his years of accumulated clinical expertise and scientific research achievements into a scalable product portfolio.

Currently, Humstrix has established a standardized, large-scale production technology platform for small-diameter tissue-engineered blood vessels and is gradually expanding its pipeline of other regenerative medicine products based on this foundation. As the global and Chinese markets for artificial blood vessels continue to expand, Humstrix is striving to drive genuine breakthroughs in domestically produced high-end cardiovascular medical consumables through more original technological pathways!

Professor Qiu Xuefeng, Founder, Chairman and CEO of HumstrixStated: Over the past year, through the concerted efforts of all employees, the company achieved the following six key performance results and milestones: (1) Completed LineMatrix Naimaitong^®First-in-human (FIH) clinical study of the bioengineered vascular graft; invited as the first domestic artificial blood vessel company to deliver a conference presentation alongside Humacyte at the VEITHsymposium 2025 annual meeting; (2) LineMatrix Naimaitong, the first domestically produced bioengineered vascular graft^®Entered the NMPA’s Special Review Procedure for Innovative Medical Devices; (3) Initiated product registration clinical trials at 12 hospitals across China in August 2025; (4) Named “Star of Sci-Tech Innovation Future” by the Great Wall Enterprise Strategy Institute in September 2025; (5) Selected for Suzhou’s Key Core Technology Research Project in October 2025; (6) Won first place in the passive medical device category of the finals at the 8th (2025) China Medical Device Innovation and Entrepreneurship Competition. We extend our sincere gratitude to all colleagues for their continued dedication and hard work! As we bid farewell to 2025, the company has successfully completed a new round of financing. We thank both existing and new shareholders for their trust and support!

Ms. Li Yang, Partner at Puhua Capital, and Mr. Gong Dongying, Investment DirectorStatement: We firmly believe that the ultimate goal of regenerative medicine is to restore life and health—a journey worthy of long-term commitment, offering both noble value and substantial returns. Leveraging profound clinical insights and a solid foundation in scientific research, the Humstrix team is turning this vision into reality. We are grateful for this trust, which has given us the privilege of participating in this endeavor. Moving forward, we will continue to stand firmly with Humstrix, not merely as capital partners, but as comrades-in-arms united by a shared mission in healthcare, working together to deliver innovative Chinese solutions to patients worldwide.

Suzhou Guofa Venture Capital Investment TeamStatement: We look forward to Humstrix, under the leadership of Professor Qiu, steadily advancing clinical trials and bringing multiple innovative products to market at an early date to benefit patients!

Ms. Bao Xueqing, Managing Partner of Paradise Silicon ValleyIt was stated that small-diameter bioengineered vascular grafts represent a critical technological bottleneck urgently needed in clinical practice, with substantial market demand and no domestically approved comparable products currently available. Leveraging nearly three decades of frontline clinical experience in cardiac surgery, Professor Qiu, the founder, has led the entrepreneurial team to efficiently complete core product development, process finalization, and first-in-human (FIM) studies, while successfully initiating registration clinical trials, placing the project at the forefront of domestic progress. With the support of this round of financing, we look forward to Humstrix steadily advancing its clinical development and commercialization efforts, launching high-quality products to benefit patients at an early stage, accelerating its global expansion, and continuing to innovate in the field of regenerative medicine to achieve further breakthroughs.

Ms. Gao Fujuan, Partner at YINGLAI CAPITALStatement: It is a great honor to have accompanied Humstrix from its Series A financing round to its Series A+ round, witnessing the continuous achievement of the company’s phased milestones and the core competitiveness of Professor Qiu’s team. We look forward to Humstrix, empowered by professional capital, steadily and rapidly advancing the clinical development of its pipeline, securing early product approval and market launch to address urgent market needs, and, as a high-end medical device technology platform company, benefiting patients in China and around the world.

Puhua Capital, founded in 2004 and headquartered in Hangzhou, maintains offices in Beijing, Shanghai, Shenzhen, and London. The firm focuses on investments in four key sectors: frontier technology, new energy and advanced materials, healthcare, and consumer culture. Leveraging deep industry insights and extensive capital market experience, Puhua has established a dual-drive strategy of “capital + industry,” committing to early-stage, innovative, specialized, and growth-oriented investments to serve as an incubator and accelerator for entrepreneurial innovation. Currently, the firm manages over RMB 25 billion in assets, has continuously invested in nearly 500 startups, and achieved exits for more than 150 portfolio companies through IPOs and other channels.

Suzhou Innovation Investment Group Co., Ltd. (hereinafter referred to as “Suzhou Chuangtou Group”) was established in 2022. It has eight subsidiaries, including Guofa Venture Capital, Industrial Investment Group, Suzhou Science and Technology Innovation Investment, Suzhou Angel Fund of Funds, Suzhou Fund, Suzhou Industrial Technology Research Institute, Suzhou Science and Technology Investment Promotion Center, and Suzhou Strategic Emerging Industries Fund, with assets under management exceeding RMB 270 billion. With the support of the Suzhou Municipal Committee of the Communist Party of China and the Suzhou Municipal People’s Government, Suzhou Chuangtou Group is striving to advance Suzhou’s “comprehensive promotion of new-type industrialization” and the construction of the “1030” industrial system. The Group endeavors to leverage the leading and driving role of state-owned financial capital, refine and strengthen the city-wide innovation capital network, promote the deep integration of the innovation chain, industrial chain, capital chain, and talent chain, and strive to establish Suzhou as the preferred destination for venture capital investment.

Paradise Silicon Valley Venture Capital Group Co., Ltd. was established in November 2000. As one of the first 50 private equity fund managers in China, Paradise Silicon Valley adheres to the business philosophy of “Investors First, Value Investment, and Industry Focus,” specializing in venture capital investments in three key sectors: intelligent technology, advanced manufacturing, and healthcare. To date, the company has invested in over 230 ventures, with 54 of its portfolio companies listed on the A-share, Hong Kong Stock Exchange, and U.S. stock markets.

YINGLAI CAPITAL is a professional investment and financing service firm dedicated to the healthcare sector. Its founding team hails from renowned domestic healthcare investment institutions, bringing extensive project experience and a robust network within the medical investment community, with connections spanning thousands of specialized investment firms and industrial groups. The firm has accumulated substantial transaction experience and a proven track record of successful deals in areas such as innovative drugs, in vitro diagnostics (IVD), medical devices, and consumer healthcare. YINGLAI CAPITAL organizes distinctive events—including the Healthcare Investors Forum, thematic salons focused on specific sub-sectors, and the Shanghai Healthcare Investors Gathering—which have all received high acclaim from the industry.

Humstrix Medical Technology (Suzhou) Co., Ltd. was established on September 1, 2021. It is a clinical-stage platform technology company specializing in tissue engineering and regenerative medicine, and the first enterprise in China and the second globally capable of mass-producing small-diameter (inner diameter ≤6mm) tissue-engineered blood vessels. The company’s founder, Professor Qiu Xuefeng from the Department of Cardiovascular Surgery at Union Hospital affiliated with Huazhong University of Science and Technology, previously studied at the University of California, Berkeley, the California Institute for Regenerative Medicine (CIRM), and the University of California, Los Angeles.

The company specializes in the standardized, large-scale culture and production of small-diameter tissue-engineered blood vessels. Indications for this product include the establishment of vascular access for chronic hemodialysis, vascular replacement for lower extremity arterial trauma (including battlefield vascular injuries), treatment of lower extremity atherosclerosis, and coronary artery bypass grafting. Leveraging this technological platform, the company is developing and manufacturing other regenerative medicine products, with plans to expand into global clinical research and commercialization.

The company has been selected for the Suzhou Industrial Park Leading Talent Program, Gusu Leading Talent Program, Jiangsu Provincial Talent Program, and the Suzhou Unicorn Cultivation Enterprise List. In November 2024, it won first place in the national finals of the 13th China Innovation and Entrepreneurship Competition (Biopharmaceutical Sector) organized by the Ministry of Industry and Information Technology. In September 2025, it was named a “Star of Sci-Tech Innovation Future” by the Great Wall Enterprise Strategy Research Institute. In October 2025, it was included in the Suzhou Key Core Technology Breakthrough Projects and won first place in the finals of the Passive Medical Devices Category at the 8th (2025) China Medical Device Innovation and Entrepreneurship Competition. Over the past three years, the company has completed five rounds of financing. In May 2024, it completed construction and put into operation a 2,243-square-meter GMP production workshop and quality inspection center compliant with Class C+A standards, with an annual production capacity exceeding 30,000 units. LineMatrix Naimaitong, the first domestically produced bio-based artificial vascular graft.^®The FIM clinical trial has been completed, achieving excellent clinical outcomes. Product registration clinical trials were initiated at 12 hospitals across China in August 2025, and the product officially entered the NMPA’s Special Review Procedure for Innovative Medical Devices in December 2025.

References:

1. [VEITH 2025 On-Site | LineMatrix]^®《June Follow-up Results of the FIM Clinical Trial for the First Domestically Produced Biological Artificial Vascular Graft》

2. “China’s First Domestically Produced Biological Vascular Graft Officially Enters the NMPA’s ‘Green Channel’ for Innovative Medical Devices”

3. “Exclusive Interview with Professor Qiu Xuefeng, Founder of Humstrix: Regenerative Medicine Drives Disruptive Change in Small-Diameter Artificial Blood Vessels!”

4. “Breakthrough in Domestic Innovation! LineMatrix Naimaitong^®Registration Clinical Trial for Bioengineered Vascular Grafts Initiates Patient Enrollment》