ZhipuCe Medical Completes Pre-A Financing Round with Xuyi Capital as Exclusive Financial Advisor

VCBeat has learned that Zhipu Testing Medical Technology (Chengdu) Co., Ltd. (hereinafter referred to as “Zhipu Testing”) has successfully completed its Pre-A round of financing, led byZhen'ao Pharmaceutical GroupLead Investor,YCAPITALServing as the exclusive financial advisor. This milestone not only highlights Zhipu Testing’s exceptional innovative capabilities in critical care, anesthesiology, emergency medicine, and neurology, but also marks a solid and significant step forward in its competition within the global medical technology sector.

Zhipu Testing, established in 2021 and headquartered at Chengdu International Bio-town, is a medical device company specializing in life support products. Co-founded by physicians, engineers, corporate management professionals, and product marketing experts, the company adheres to the simple philosophy of “saving one more life.” It focuses on the research and development of domestically produced alternative medical devices urgently needed in clinical practice, aiming to enhance the level of precision medicine and benefit more patients.

Zhipu Testing centers on technological R&D and innovation, integrating interdisciplinary technologies such as polymer materials, complex electronic circuits, mathematical modeling, and software engineering to develop high-end medical equipment with independent intellectual property rights. The company has successively been recognized as a “Technology-based Small and Medium-sized Enterprise,” and its projects have been designated as “Major Industrial and Information Technology Projects” in both Chengdu City and Sichuan Province. Furthermore, it has been successfully included in the key medical device selection list of the Sichuan Provincial Medical Products Administration.

Hemodynamic monitoring is a core component in the management of moderate-to-high-risk surgeries and emergency care. As the latest technological approach, minimally invasive hemodynamic monitoring offers significant comprehensive advantages. However, this field has long been monopolized by Edwards Lifesciences (USA) and Pulsion Medical Systems (Germany). Leveraging its exceptional independent R&D capabilities, Zhipu Testing has emerged as a pioneer, becoming the leading domestic enterprise and only the third company worldwide to fully master the entire spectrum of minimally invasive hemodynamic monitoring technologies, thereby successfully breaking the long-standing technological monopoly held by international giants.

In mid-2024, Becton, Dickinson and Company (BD) acquired Edwards Lifesciences’ critical care business for $4.2 billion, underscoring the strategic value of the critical care sector. This acquisition has provided Zhipu Testing with an opportunity to benchmark itself against international giants and further validated the market’s broad prospects.

The penetration rate of domestically produced critical care equipment is less than 15%, with policy mandates requiring that over 50% of equipment procured by Grade A tertiary hospitals be domestically produced by 2025 (MIIT’s “Development Plan for the Medical Equipment Industry”). Technological breakthroughs, policy dividends, and industrial synergy act as three levers to drive exponential growth in the industry.

The core competitiveness of Zhipu Testing lies in its strong R&D capabilities and rich product pipeline:

Zhipu Testing is actively advancing the registration process for six pioneering domestic alternative products. Among these, four minimally invasive hemodynamic monitoring products, which benchmark against corresponding offerings from Edwards Lifesciences in the United States and Pulsion Medical Systems in Germany (with Zhipu Testing’s product line being more comprehensive), have entered the clinical registration phase and are expected to obtain relevant certifications within one year.

The other two targeted temperature management (TTM) system products are designed to benchmark against the ArcticSun 5000 system from BD, a renowned international medical device company. The ArcticSun 5000 system plays a critical role in monitoring and treatment across key clinical scenarios, including cardiac interventional procedures, neurocritical care, and the management of neonatal hypoxic-ischemic encephalopathy. These TTM products are in the final stages of regulatory approval, with commercial launch expected by mid-2025, holding significant clinical value and substantial market growth potential.

Zhipu Testing attaches great importance to the application of artificial intelligence technologies in the medical field and has established specialized R&D teams focusing on mathematics, algorithms, and models. Some advanced simulation algorithms and models have been successfully integrated into existing products, significantly enhancing the intelligence level and clinical practical value of the equipment.

This Pre-A round of financing was led by Zhen’ao Pharmaceutical Group, fully demonstrating capital’s recognition of and confidence in Zhipu Testing. Zhen’ao Pharmaceutical, integrating herbal cultivation, drug R&D, and medical services, has provided strong support for the vigorous development of Zhipu Testing with its substantial industrial resources and extensive industry experience. Leveraging the industrial resources of Zhen’ao Pharmaceutical and the financial support from YCAPITAL, Zhipu Testing will further accelerate technological R&D and product registration processes, bringing greater benefits to patients worldwide.

Mr. Xiao Dejun, CEO of Zhipu Testing“Zhipu Testing has consistently adhered to technological R&D and innovation, clearly defining three stages of development: providing cost-effective domestic alternatives, contributing unique comprehensive solutions, and developing AI-driven medical technology services. We believe that capital and industry complement each other and will jointly drive the advancement of medical technology.”

Mr. Zhao Gang, Sales Director of PHARMACEUTICAL GROUPstated, “The Zhipu Testing team has persisted in R&D for seven years—honing their craft like a sword over seven years—and accumulated several impressive achievements in hard-tech. Their dedication and perseverance are admirable, and we are confident in their future development.”

Project Manager, YCAPITALYCAPITAL stated: “YCAPITAL is honored to serve as the exclusive financial advisor to Zhipu Testing. The localization of intensive care solutions represents a future trend. Zhipu Testing focuses on the field of acute and critical care, where its products address essential needs, offering substantial market potential. By independently developing core technologies, the company has broken international monopolies and filled domestic gaps. With a founding team that combines medical, engineering, and management expertise, and demonstrating exceptional execution capabilities, we look forward to Zhipu Testing’s continued innovation in the field of intensive care.”

Zhipu Testing Medical Technology (Chengdu) Co., Ltd. was established in 2021, with its headquarters located in the Chengdu Tianfu International Bio-Town. The company specializes in the research, development, and manufacturing of Class III medical devices in the field of hemodynamics. It is committed to enhancing the diagnosis and treatment of acute and critical care through technological innovation and promoting the global expansion of high-end medical equipment manufactured in China.

Headquartered in Xianning, Hubei Province—known as the “Fragrant Capital and Spring City”—PHARMACEUTICAL GROUP is a large-scale comprehensive pharmaceutical conglomerate centered on the pharmaceutical industry, integrating herbal cultivation, drug R&D, pharmaceutical marketing, and medical services. It owns five major pharmaceutical production bases, including Zhen’ao Honeysuckle Pharmaceutical, Shanxi Zhenglai Pharmaceutical, Harbin Hanjun Modern Pharmaceutical, Chifeng Weikang Pharmaceutical, and Hebei Baishan Pharmaceutical, as well as Shangjing Hospital, a large private general hospital in the Inner Mongolia region.

Founded in 2020, we are a boutique investment bank specializing in the healthcare and medical sectors. Our team comprises professionals from investment firms, securities companies, research institutions, and publicly listed companies. To date, we have facilitated total financing of nearly RMB 5 billion for our clients. Guided by our mission to “identify and empower scientists and entrepreneurs who address clinical needs,” we provide comprehensive financing and M&A solutions as well as industry enablement services.