Meibai Bio Completes Tens of Millions of RMB Series A++ Financing with WinX Capital as Exclusive Financial Advisor

VCBeat has learned that recently, BeiBeijing MAYBIO Pharmaceutical Biotechnology Development Co., Ltd. (hereinafter referred to as “MAYBIO”) has completed a Series A++ financing round amounting to tens of millions of yuan. This round was led by Cofoe Medical Technology Co., Ltd. (301087.SZ), with Zhongguancun Science-Tech Leasing Co., Ltd. (1601.HK) providing medium- to long-term financial support. WinX Capital served as the exclusive financial advisor.The funds raised in this round of financing will be primarily used to further advance the R&D and industrialization of the company’s series of human-derived extracellular matrix (ECM) regenerative materials, while accelerating the clinical registration and commercial promotion of Class III medical devices based on human-derived ECM regenerative materials.

Medical material technologies have undergone multiple iterations, evolving from first-generation bioinert materials primarily composed of metals to second-generation biomedical materials characterized by biocompatibility and controllable degradability. Since the late 1990s, the integration of two previously distinct concepts—bioactive materials and degradable materials—has ushered in research on third-generation biomaterials for tissue regeneration. These materials can stimulate specific cellular responses at the molecular level, modulate molecular signaling pathways or cellular behaviors through their intrinsic physicochemical properties, and promote cell adhesion and migration, thereby facilitating human tissue regeneration. This represents a significant and increasingly important development trend in the biomedical materials industry.

Source: "Regenerative Medicine: Biomaterials and Tissue Regeneration"

The extracellular matrix (ECM) is the external environment essential for cell survival. Its primary component is collagen, while other constituents include glycoproteins (such as fibronectin, laminin, and elastin), polysaccharides (such as hyaluronic acid), and exosomal growth factors. Regenerative medical materials based on human-derived ECM can mimic the body’s own biological structures and functions, offering high histocompatibility and superior biomimetic properties. Rich in various proteins, these materials provide long-term nourishment and promote cellular activity in addition to physical support. Furthermore, tissue-specific ECMs derived from various cell sources are widely applicable in areas with limited self-repair capacity, such as aesthetic regenerative medicine, surgical meshes, cardiac muscle, ligaments, and joints. With broad prospects, this technology represents a new generation of bio-regenerative materials poised to disrupt the industry.

MAYBIO was established in July 2020, co-founded by Dr. Xiao E, founder of the Oral and Maxillofacial Surgery Laboratory at Peking University School of Stomatology and a postdoctoral fellow at the University of Pennsylvania, and Professor Wei Qiang from the State Key Laboratory of Polymer Materials Engineering at Sichuan University.It is the first enterprise in China to efficiently produce ECM regenerative materials using human-derived cell-based in vitro tissue engineering technology., and it is also the first enterprise in China to complete the classification and definition of recombinant human collagen raw materials. MAYBIO has established the first sterile processing technology medical device production line in Hunan Province,The production base covers an area of 4,000 square meters, with an annual production capacity of 800,000 sterile gel units and an output value of nearly RMB 1 billion.

Leveraging its human-derived ECM platform technology, MAYBIO has entered the market through medical aesthetic regenerative materials and gradually expanded into high-end regenerative and biomimetic materials, establishing a comprehensive “medical aesthetics–regeneration–biomaterials” value chain. Following this round of financing, MAYBIO will further deepen R&D on underlying ECM technologies, optimize its product portfolio, and accelerate clinical translation to benefit a broad base of patients and users.

CofoeStatement: We are highly optimistic about MAYBIO’s technological expertise and commercialization potential in the field of human-derived extracellular matrix (ECM) regenerative medicine materials. Cofoe boasts a comprehensive product portfolio and well-established market channels in the areas of advanced dressings and wound repair. Through this collaboration, both parties will deepen their synergy in technological innovation, product development, and marketing, jointly promoting the clinical adoption and realization of commercial value for regenerative medicine products.

WinX CapitalStatement: It is a great honor to serve as the exclusive financial advisor to MAYBIO and to support the company in closing this round of financing. Innovative biomedical materials, characterized by unique tissue compatibility and biological functionality, possess significant market potential and represent one of our key areas of focus. As a leading enterprise in this sector, MAYBIO has demonstrated strong innovation capabilities and commercialization potential in both consumer healthcare and regenerative medicine, leveraging its proprietary ECM platform technology. We are confident that, through the joint efforts of Mr. Xiao Bo and all shareholders, MAYBIO will continue to deepen its expertise in the field of biomedical materials, expand its business footprint, and deliver greater benefits to more patients and users.

Cofoe is committed to providing users with lifelong trusted medical health products and one-stop solutions. With nearly 10,000 product models and specifications, it covers five major areas: health monitoring, rehabilitation aids, respiratory support, medical nursing, and traditional Chinese medicine physiotherapy. It has now developed into a leading enterprise in full-lifecycle personal health management, integrating R&D, production, sales, and services. The company has received numerous national (ministerial) and provincial honors, such as National High-Tech Enterprise, National Intellectual Property Advantage Enterprise, and National Intelligent Manufacturing Excellent Scenario Enterprise. In recent years, the "Cofoe" e-commerce transaction index has maintained an industry-leading position in the medical device category. Additionally, the company has opened more than 700 self-operated stores in dozens of key cities across China and entered over 300,000 pharmacies by partnering with dozens of top-100 chain pharmacies. In the future, Cofoe will continue to strengthen its R&D and innovation capabilities, enhance the innovativeness and accessibility of its medical health products and services, and strive to become a respected global medical device enterprise.

Zhongguancun Science-Tech Leasing Co., Ltd. (Stock Code: 1601.HK) is a listed platform under Zhongguancun Development Group. Established in Beijing in November 2012, the company is committed to its mission of “identifying and nurturing unicorns to fulfill the dreams of tech entrepreneurs.” It focuses on supporting the technological transformation and growth of China’s hard-tech enterprises, thereby bridging the “last mile” in the industrialization of their scientific and technological achievements.

Zhongguancun Science & Technology Leasing has established three core competitive barriers: a credit enhancement system empowered by digital intelligence, an equity-debt dual-wheel strategy covering the entire lifecycle, and a value creation model based on industry-finance symbiosis. By deeply engaging in the development of new quality productive forces, the company serves not only as a financial partner for sci-tech innovation enterprises but also as a connector, accelerator, and amplifier for the industrialization of hard-tech achievements—a scarce resource in the capital market. Looking ahead, Zhongguancun Science & Technology Leasing will continue to deepen its presence in the hard-tech sector, empower technological innovation, and promote the deep integration of the financial and technology industries, striving to become a world-class provider of sci-tech financial services.

WinX Capital is a leading investment bank in China’s healthcare industry, with headquarters in Beijing and Shanghai, and offices in Shenzhen and Hangzhou. It has received numerous accolades, including Qimingpian’s “Top 1 Financial Advisor in the Healthcare Sector for 2024,” First New Voice’s “Top 1 Financial Advisory Firm in the Healthcare Sector for 2022, 2023, and 2024,” and VCBeat’s “Annual Healthcare Financial Advisor among the Future Healthcare Top 100 (2022–2024).”