
In 2025, business development (BD) deals dominated by out-licensing continued to invigorate the market for domestically developed innovative drugs, with multinational pharmaceutical companies affirming their value through substantial financial commitments. In the first half of the year alone, the total value of BD transactions for innovative drugs in China reached $60.8 billion, surpassing the full-year total of 2024.
Similarly, the innovative medical device sector is also exhibiting a diverse and vigorous growth trajectory. Collaboration models are no longer confined to traditional approaches; instead, various forms such as technology licensing, regional distribution, strategic investment, and mergers and acquisitions are being pursued in parallel, better aligning with the characteristics of device customization and intensive market promotion.
Cross-border collaboration remains robust. Leveraging technological breakthroughs and cost advantages, Chinese-made innovative medical devices are not only introducing advanced overseas technologies but also accelerating their global expansion, becoming a hot spot for business development (BD). For instance, certain domestic IVUS systems and neurointerventional products have garnered favor from multinational giants.
In terms of market segments, chronic disease management and smart healthcare have garnered significant attention. Innovative products such as precision diagnosis and treatment for cardiovascular diseases and intelligent monitoring for diabetes are continuously driving industry progress.
VCBeat offers in-depth insights into this trend,Focusing on hot topics and core issues in innovative asset transactions, and centering on key buyer groups such as strategic, financial, and industrial investors, we will launch the online live-streaming series “China Innovative Healthcare Asset Lounge.”,In-depth analysis of the underlying logic of transactions, deconstruction of practical cases, and sharing of cutting-edge market insights and hands-on experience to build an efficient platform for knowledge exchange, target selection, and resource sharing among buy-side participants.
On Thursday, September 18, at 15:00, VCBeat hosted the second session of the “China Innovative Healthcare Asset Lounge” Transaction Roundtable Series, invitingWang Ruiwen, Partner at Tongda Capital / Partner at Accesstech / Co-founder of ONE Investment Club,Ji Changtao, Managing Partner of BGI Win-Win Fund; Le Lei, Director of Strategy and Business Innovation for the Orthopedics and Neurosurgery Business Group at Medtronic China; Sun Hao, Assistant to the General Manager at Amet Medical;Sun Shanshan, Managing Director of Proxima Ventures; RosenbotChairman & CEO WangYuSixWei JiaBin Weirao[The “Survival Rules” for BD in Innovative Medical Device Companies]MainThrough open-ended discussions, we provide buy-side investors with actionable trading logic and insights into frontier sector allocation, building a “strategic think tank” for healthcare innovation asset transactions. This empowers buyers to efficiently capture high-quality deal opportunities, bridging China’s healthcare innovation assets with global investors.

Host: Wang Ruiwen
Partner at Tongda Capital
Partner, Accesstech
Co-Founder of ONE Investment Club

With over 15 years of experience in project management and business development (BD) transaction management within the medical device industries of both China and the United States, Ronnie currently serves as a Partner at Tongda Capital and Accesstech, and is the Co-founder of the ONE Investment Club. Recent transaction projects he has been involved in include Zhenyi, Changyida, Innovheart, Xeltis, and Merion. Prior to entering the investment banking sector, Ronnie focused on program management for multiple MedTech companies across China and the U.S., participating in several cutting-edge innovation projects such as heart valve stents, drug-eluting stents, inferior vena cava filters, thrombectomy stents, and flow diverters. Ronnie holds more than ten patents related to biomedical engineering and is a licensed Professional Engineer (PE) in the State of California. He earned a Master of Science degree in Bioengineering from San Diego State University, with a research focus on medical devices.
Guest: Ji Changtao
Managing Partner, BGI Win-Win Fund

Responsible for bioeconomy research, business development, investment, and post-investment management. Holds a Master’s degree in Biology from the Chinese Academy of Sciences, with a focus on biotechnology industry research and investment opportunity sourcing. Previously served as Deputy Director of the Healthcare Investment and Business Development Department at Aoyin Capital and as Senior Manager at Sanofi Pasteur.
Previously worked at the Chinese Academy of Sciences, conducting research on “marine microbial natural products and the biosynthesis of their secondary metabolites,” and published several SCI papers, including in Angewandte Chemie International Edition (Top 1), as well as multiple patents. Recognized by the Fund-of-Funds Research Center as one of the “40 Under 40 Most Promising Young Direct Investment Fund Investors.” Awarded the “Annual Young Healthcare Investor” title under the Weilan Awards of VCBeat’s Future Healthcare 100 List.
Guest: Le Lei
Director of Strategy and Business Innovation, Medtronic China Orthopedics & Neurosurgery Business Group

Responsible for Medtronic’s local innovation partnerships and strategic planning in China, Ms. Le Lei has established strategic collaborations with multiple leading domestic innovative enterprises in specialized fields, thereby advancing Medtronic’s localization and ecosystem strategy. She has held key roles across various functions within Medtronic globally and in the Greater China region, driving numerous strategic investment projects worldwide. Ms. Le holds an MBA in Healthcare Management from the Wharton School of the University of Pennsylvania.
Guest: Sun Hao
Assistant to the General Manager, Amate Medical

He earned his bachelor’s, master’s, and doctoral degrees in Aircraft Design from Northwestern Polytechnical University. In 2015, he went to the United States as a state-sponsored joint-training Ph.D. student, where he began researching vascular intervention technologies and concurrently conducted research at Brookhaven National Laboratory for two years. After completing his Ph.D., he joined the Department of Mechanical Engineering at Tsinghua University as a postdoctoral researcher. His research achievements received the First Prize in the Second “Yuanchuang Cup” National Innovation and Creativity Competition. In recent years, he has served as principal investigator for the National Natural Science Foundation of China Youth Fund Project and has played a key role in several major initiatives, including the National 14th Five-Year Plan Key R&D Program, the Central Military Commission’s National Innovation Special Zone Key Exploration Project, and the Beijing Natural Science Foundation’s Non-Consensus Project. He has published more than 20 high-impact papers in SCI-indexed journals and international conferences, and holds 23 granted invention patents.
Guest: Sun Shanshan
Managing Director, Proxima Ventures

She focuses primarily on investments in the medical device and healthcare services sectors, having led more than ten investment projects, including Angtai Weijing, Ruining, Dunbo, Ruiyi Xulian, Kairuite, NanoVision, Lingchuang Medical Valley, Xiran, Boshi, and Clerio Vision. Prior to joining Proxima Ventures, she worked at Medtronic for nine years, specializing in the fields of cardiac arrhythmia and electrophysiology, with professional experience spanning sales management, marketing, and training departments.
Guest: Wang Yu
RosenbotChairman & CEO

With 20 years of experience in the R&D and industrialization of orthopedic surgical robots, he was deeply involved in the development and commercialization of China’s first orthopedic surgical robot. He performed China’s first robot-assisted orthopedic surgery (2004) and the first remote orthopedic surgery (2006). He was awarded the “2025 Surgical Robot Entrepreneur Award.” He is a rare high-level leading talent in China with an interdisciplinary medical-engineering R&D background and extensive industrialization experience in orthopedic surgical robots.
China Innovative Healthcare Assets Lounge – Transaction Roundtable
“China’s Innovative Healthcare Asset Lounge” is an online live-streaming program launched by VCBeat, positioned at its core to “connect China’s innovative healthcare assets with global buyers.” Focusing on high-quality asset transactions in fields such as innovative drugs, high-end medical devices, and digital health, the program aims to build a professional platform for “presentation, communication, and matchmaking” tailored to strategic, financial, and industrial buyers. With the goal of “unlocking the value of China’s innovative assets and facilitating efficient transactions,” the program helps buyer groups capture opportunities in high-quality assets through precise supply-demand matching, analysis of transaction logic, and sharing of practical experience. Meanwhile, it promotes the commercialization and retention of local innovative assets, contributing to the ecosystem development of the Global Life and Health Innovative Asset Buyers Alliance.
The “Deal Roundtable” sub-column of “China’s Innovative Healthcare Asset Lounge” focuses on the strategies, trends, and regulations governing transactions in innovative healthcare assets. Adopting a “buyer-centric perspective,” it invites members of the Buyer Alliance, seasoned investors, and experts from law firms and investment banks to engage in dialogues around hot-button issues and pain points in deal-making. By combining “benchmark case analyses” with “strategic insights,” the column provides actionable transaction logic and references for positioning in cutting-edge sectors, thereby establishing a “strategic think tank” for innovative healthcare asset transactions and empowering buyers to efficiently capture high-quality deal opportunities.

Scan the QR code to reserve your spot for the live stream
VCBeat has also compiled an overview of medical device BD deals and trends in 2025. Interested readers can click the title below ↓↓↓ to view!