Tangji Medical Secures Nearly RMB 100 Million Series C Funding to Advance Original Chinese Innovations in Metabolic Disease Treatment
Tongee
Medical Device R&D Company in the Field of Metabolic Diseases
VCBeat has learned that Tongee Medical recently completed a nearly RMB 100 million Series C financing round. The investment was jointly led by Langmafeng Venture Capital and Quzhou Lushi Fund. The funds will empower Tongee Medical to accelerate its market expansion in China and internationally, advance registered clinical trials, establish production lines, and scale up manufacturing capacity. These initiatives will significantly propel its commercialization process and inject strong momentum into Tongee Medical’s journey in the field of metabolic disease treatment.
Leading with Innovative Technology, Achieving Remarkable Product Outcomes
Tongee Medical specializes in the research and development of gastrointestinal interventional technologies for metabolic diseases, rising to prominence in the industry through its exceptional innovative capabilities. In early 2024, its independently developed gastric bypass stent system received formal approval from China’s National Medical Products Administration (NMPA), securing the world’s first Class III innovative medical device registration certificate for endoluminal intervention in the treatment of obesity.
In October of the same year, the gastric bypass stent system successfully obtained the “Breakthrough Device Designation” from the U.S. Food and Drug Administration (FDA), with the intended indication for the treatment of non-alcoholic steatohepatitis (NASH) comorbid with obesity. In the same month, the product secured medical device registration certification in Indonesia, successfully opening the door to the Southeast Asian market. It is reported that Tongee Medical’s overseas expansion plan is progressing steadily, with expectations to successfully enter more than ten countries or regions by 2025, thereby accelerating its global strategic layout.
Gastric Bypass Stent System: Based on cutting-edge medical concepts and the scientific principles of "physically blocking intestinal energy absorption" and "remodeling the gut microbiota," this system offers three major clinical advantages. First, it provides an innovative, non-invasive, and purely physical solution for weight loss and metabolic improvement. It is placed via painless gastroscopy, making it reversible and minimally invasive. Second, it achieves effective weight loss by reducing fat while preserving muscle mass. A study by Professor Meng Hua’s team at China-Japan Friendship Hospital in Beijing, published in the *Asian Journal of Surgery*[1]Confirmation: This weight loss does not come at the expense of muscle mass; patients experience an increase in muscle tissue content while shedding excess body weight. Thirdly, it delivers comprehensive metabolic benefits through mechanisms such as remodeling of the small intestinal mucosal function and improvement of the gut microbiota.
Currently, its safety and efficacy have been validated through extensive clinical practice, gaining widespread industry recognition. It has been included in the "2024 Chinese Expert Consensus on Digestive Endoscopic Treatment of Obesity" and the "Guidelines for Diagnosis and Treatment of Obesity (2024 Edition)," becoming one of the authoritatively recommended treatment modalities.
At year-end, Tongee Medical’s subsidiary announced another major achievement. Its self-developed Digital Therapeutics (DTx) software for managing obesity metrics successfully obtained China’s first medical device registration certificate for weight-loss management software. This breakthrough has opened up new development opportunities for the company, enabling it to achieve a comprehensive closed-loop management system that transitions from offline interventional treatments to online digital health services in the field of weight loss and metabolic disease treatment, thereby providing more robust health solutions for individuals seeking weight loss and patients with metabolic disorders.
Focus on Clinical Needs, Deepen Industry Insights
Despite the year-on-year rise in the incidence of metabolic diseases, there remains insufficient awareness among clinicians and the general public regarding certain innovative treatment concepts and technologies. Tongee Medical has keenly recognized this situation and proactively implemented strategic responses. On one hand, Tongee’s gastric bypass stent system has completed product operation training at more than 230 medical institutions across 27 provinces, municipalities, and autonomous regions in China. It has been adopted by nearly 100 hospitals, with over 500 physicians participating, thereby accumulating extensive clinical experience. Building on this foundation, the company has further deepened its strategic layout by collaborating with authoritative medical institutions to establish demonstration centers and training bases, offering professional training courses that provide physicians with platforms for systematic learning and practice, comprehensively enhancing the healthcare industry’s understanding and application capabilities of endoscopic bariatric therapies. On the other hand, Tongee Medical is actively cooperating with hospitals at all levels to promote the decentralization of innovative treatment technologies, ensuring broader patient access and benefit. Meanwhile, in international exchanges, Tongee Medical maintains close communication with numerous renowned global experts in metabolic diseases, jointly committed to promoting advanced treatment concepts and improving outcomes for metabolic disease patients worldwide.
Empowered by Capital, Building a Healthy Future Together
Zuo Yuxing, Chairman and CEO of Tongee MedicalHe stated, “The field of metabolic disease treatment demands exceptionally high levels of technological innovation, and the path forward is fraught with challenges. For this reason, we have always been meticulous in selecting like-minded professional healthcare investors as our partners. We extend our gratitude to the investors who have supported us over the years, and offer special thanks to Langmafeng Venture Capital and Quzhou Lushi Fund for their recognition and strong support of Tongee Medical. This round of financing will accelerate our commercialization process and enable the development of more high-quality products. Leveraging original Chinese technologies, we aim to tackle critical challenges in weight management and metabolic disease treatment, thereby addressing the unmet medical needs of a broad patient population.”
After years of dedicated research and accumulated clinical practice, Tongee Medical has entered a golden period of rapid development. Its commercialization process will continue to accelerate, generating more real-world application data to demonstrate the product’s safety, efficacy, and unique advantages in fat reduction without muscle loss and metabolic function improvement, thereby bringing hope for recovery to more patients with obesity and metabolic disorders.
Dr. Tan Wenlong, Senior Partner at Langmafeng Venture Capital“Langmafeng Venture Capital remains bullish on the vast market potential in the weight loss and metabolic health sector. Tongee Medical offers a purely physical solution for weight reduction and metabolic improvement through gastrointestinal interventional approaches. Based on accumulated clinical data to date, the Gastric Bypass Stent System has demonstrated significant weight loss efficacy, fat reduction without muscle loss, and comprehensive improvements in blood markers associated with metabolic diseases. This enables patients to holistically benefit from enhanced metabolic health and improved quality of life. With its highly forward-looking therapeutic philosophy and precise, efficient diagnostic and treatment methods, Tongee Medical has revealed new possibilities for treatment paradigms in the field of weight loss and metabolic health. We are highly optimistic about Tongee Medical’s innovation capabilities and growth prospects, and we are committed to supporting its development into a global leader in metabolic disease treatment, providing patients with more effective therapeutic options.”
Ma Letao, Head of Quzhou Lushi Fund“He stated: ‘The high prevalence of obesity and metabolic diseases has become a major challenge in global public health, including in China. The scale and long-term potential of the weight loss and metabolic market are substantial. The Tongee team has chosen to carve out a unique path within this vast market by providing interventions via the gastrointestinal tract, offering a novel option for relevant patients. We highly commend the team’s pioneering spirit as the first in the world to do so, and this project serves as a benchmark urgently needed for the transformation and upgrading of Quzhou’s life and health sector. Currently, Tongee Medical has completed its rapid deployment in China’s serious medical care field, and we look forward to its performance in the global market in the future.’”
This financing has injected strong momentum into Tongee Medical. Driven by both capital and technology, Tongee Medical will continue to deepen its expertise in the field of metabolic disease treatment, lead industry transformation, and safeguard the health of patients with metabolic diseases worldwide.
About Langmafeng Venture Capital
Langmafeng Venture Capital, established in 2007, is dedicated to investing in high-tech enterprises and manages a total fund size of over RMB 10 billion. The firm currently has 128 portfolio companies, primarily distributed across sectors such as healthcare, artificial intelligence, and semiconductors, among which 33 are publicly listed. Langmafeng Venture Capital has been consecutively recognized in Zero2IPO’s “Top 100 Chinese Venture Capital Firms” for many years. In 2021, it was named among the “Top 10 Comprehensive RMB Funds” by Qimingpian VC. In 2023, it ranked 35th on IPO Early Know’s “2023 Top 100 Best Investment Institutions for IPOs.” In 2024, it was listed among the “Top 50 ‘Specialized, Refined, Differential, and Innovative’ Investment Institutions in China” by Zero2IPO.
About Quzhou Lushi Fund
Quzhou Lushi Fund, registered in Quzhou, Zhejiang Province, has a total scale of RMB 5.002 billion. It was jointly established by the Zhejiang Provincial Industrial Fund, Quzhou State-owned Assets, and the Quzhou Government Industrial Fund. The fund manager is Quzhou State-owned Assets Xin’an Capital Management Co., Ltd., a subsidiary of Quzhou Industrial Investment Group. The fund focuses on investments in areas such as advanced new materials and new-type equipment. Quzhou Industrial Investment Group was ranked among the “Top 50 Best State-owned Investment Institutions in China for 2024” by VCBeat.