Jirui Tech Files IPO Prospectus Following Two Rounds of Tens-of-Millions-Yuan Funding for Nuclear Medicine Tracer Synthesis Platforms

It is reported that,Hangzhou Jirui Technology Co., Ltd. (hereinafter referred to as “Jirui Technology”), a company specializing in the OnePlatform® automated synthesizer for nuclear medicine molecular imaging tracers, has recently completed two rounds of financing totaling tens of millions of yuan.Investors include CHOICE CAPITAL, TigerYeah Capital, and Xiongkai Group. The funds will be primarily used for OnePlatform.^®R&D and iteration of synthesis platforms, construction of equipment and consumables production lines, and development services for specific tracers.

Jirui Technology Achieves Domestic Production of One-Click Multi-Functional Automated Synthesis Equipment for Nuclear Medicine PET Tracers for the First Time.

OnePlatform® 3.1s Synthesis Platform

Positron Emission Tomography (PET) is an advanced clinical imaging modality that plays a pivotal role in the early diagnosis, lesion localization, tracking of metastatic and primary tumors, and therapeutic efficacy assessment of cancers, cardiovascular diseases, and neurological disorders. Given the characteristics of PET tracers—such as radioactivity, time sensitivity (due to radionuclide half-lives), and microscale usage—it is essential to highly integrate radio-organic synthesis processes to develop automated PET tracer synthesis systems featuring remote operation, automation, integration, and multifunctionality, enabling real-time on-site synthesis within hospitals. Currently, commercially available systems include fixed-tubing, cassette-based module, and hybrid module configurations. Due to high technical barriers, the market is dominated by foreign manufacturers, and the domestic production rate of multifunctional automated synthesis equipment in China is essentially zero.

Dr. He Qinggang, founder of Jirui Technology, possesses over ten years of hands-on experience in the research, development, and production of clinical PET tracers. He has mastered the synthetic methodologies and process principles of electrophilic and nucleophilic substitution for medical radionuclide-labeled tracers, including 11C, 18F, and 68Ga. Through innovative structural design and integration with automated systems, he has continuously optimized and iterated the technology, gradually establishing the third-generation OnePlatform series, which features comprehensive functionality, stable product quality, and a user-friendly interface.^® 3.1 sPET Tracer Multifunctional Automated Synthesis System: The device is currently being demonstrated in collaboration with the Second Affiliated Hospital of Zhejiang University School of Medicine, Wuhan Tongji Hospital, and Guangzhou Second Municipal People’s Hospital.

Bolstered by supportive policies, the development of nuclear medicine in China has significantly accelerated. Within the trillion-yuan blue-ocean market for nuclear medicine, automated synthesis equipment holds a significant position.In 2021, China released the “Medium- and Long-Term Development Plan for Medical Radioisotopes (2021–2035)” (hereinafter referred to as the “Plan”), which is the first programmatic document issued in China specifically targeting the application of nuclear technology in the healthcare sector.Against this backdrop, in accordance with the Plan, addressing the heavy reliance on imports for isotope production, radiopharmaceutical preparation, and high-end nuclear medical equipment has become a key priority. The plan aims to achieve “one department per county” nationwide by 2035, which implies that approximately 3,000 hospitals across China will need to establish departments of nuclear medicine.

Meanwhile, statistics show that China’s per capita PET/CT ownership and scan volume per million people are each less than one-tenth of those in developed countries. With the number of patients suffering from major diseases continuously rising, approximately 60% of those with oncological and mental health conditions can benefit from PET/CT for early diagnosis, lesion tracking, and analysis of cancer metastasis. Consequently, there is substantial market demand for supporting nuclear medicine synthesis equipment and services.Whether in scientific research or clinical practice, there is a substantial gap between the demand for and supply of PET tracer types and dosages, urgently necessitating matching production models and corresponding equipment to facilitate the rapid development of nuclear medicine in the field of positron emission tomography (PET).

Furthermore, Radionuclide Drug Conjugates (RDCs) have become a focal point in radiopharmaceutical research and development, driven by their therapeutic potential in oncology and the commercial success of Novartis’ blockbuster drug Pluvicto.During the regulatory submission process for new radiopharmaceuticals, authorities require not only technical documentation for the final drug product but also information on manufacturing-related equipment. Consequently, bundling radiopharmaceutical synthesis modules with the drug development process has become an essential step in new drug applications.

Leveraging the OnePlatform® synthesis platform, Hangzhou Jirui Technology Co., Ltd. has also completed the research and development of scientific equipment (for drug screening) and radiopharmaceutical production equipment (including metal modules), achieving a diversified product portfolio deployed across hospitals, radiopharmacies, research institutions, and radiopharmaceutical companies, thereby promising strong future growth for the company.

CHOICE CAPITAL specializes in investment and services within the healthcare industry. Established in 2017, its management team comprises executives from publicly listed healthcare companies, seasoned investors, and entrepreneurs. The firm is dedicated to identifying and cultivating high-potential startups in the healthcare sector, providing comprehensive support to help them grow into industry leaders.

TigerYeah Capital, established in 2014, is an independent venture capital firm under Tigermed. It focuses on equity investments in early-stage and growth-stage companies within the healthcare sector. The management team boasts extensive industry expertise, broad sector resources, and rich investment experience. To date, TigerYeah Capital has invested RMB 2 billion in over 100 projects, with a portfolio spanning medical devices, biopharmaceuticals, contract research organizations (CROs), and health supplements. By empowering its portfolio companies, TigerYeah Capital creates value for the development of the healthcare industry in China and globally, contributing to public health.

Xiongkai Group, established in 2009, operates multiple business segments including real estate, hotel management, industrial park operations, and equity investment. In October 2021, it jointly established the “Zhejiang University–Xiongkai Medical Devices Joint R&D Center” with Zhejiang University. Leveraging the combined strengths of Zhejiang University and Xiongkai Group, the center effectively integrates Zhejiang University’s robust scientific research capabilities with resources across China’s medical device industry chain. Market-application oriented, it explores an innovative model for integrated industry-academia-research collaboration, adhering to the philosophy of “open cooperation and mutual benefit” to share opportunities and achieve a win-win future.