Suzhou Huihan Medical Technology Files IPO Prospectus for Its Breathable Bioengineered Artificial Skin

In 1962, George Winter, a Fellow of the Royal Society of Medicine, proposed the "moist wound healing theory." Through comparative experiments, he found that sealed, moist wounds healed 50% faster than dry wounds exposed to air. Since then, this theory has undergone years of clinical validation and scientific research, gradually gaining widespread acceptance and application.

A moist environment is of significant importance for promoting cell growth, reducing the risk of infection, alleviating wound pain, and facilitating epithelialization, which has further driven the innovation and development of advanced medical dressings. According to data from Grand View Research, the global wound dressing market reached $13.7 billion in 2022, with the advanced wound dressing segment accounting for $7.5 billion, or 54% of the total. The global wound dressing market is projected to reach $19 billion by 2030, with advanced dressings expected to account for $10.6 billion.

Currently, there is substantial demand for high-end medical dressings in the domestic market. Chinese companies are gradually demonstrating strong competitive advantages in the international arena, and to date, many innovative domestic enterprises have accelerated their expansion into global markets. Suzhou HVHA Medical Technology Development Co., Ltd. (hereinafter referred to as “HVHA Tech”) is a prominent player among them.

HVHA Technology is a high-tech enterprise dedicated to providing one-stop solutions for wound repair consumables to medical professionals and patients.The Company comprises three major business divisions—biomaterials, advanced dressings, and disposable surgical instruments—achieving full autonomous control over the entire process from core raw material R&D to finished product manufacturing.

Huihan Technology was established in 2005 and has been deeply engaged in the field of high-end medical dressings for nearly 20 years.

Exterior View of HVHA Technology

When discussing the reasons for entering this sector,Feng Yongliang, Chairman of HVHA TechnologyThe team noted that during practical hospital assessments, wound infections and ulceration in burn patients were difficult to control, significantly exacerbating patient suffering, while the low-end medical dressings available at the time failed to address this critical challenge. Furthermore, there was a severe shortage of temporary skin substitutes for patients with extensive deep second-degree or more severe burns; traditional medical treatments still relied on human-derived skin or porcine skin for temporary coverage, which greatly increased the burden on patients and introduced significant uncertainty regarding material sourcing. Moreover, with population aging, the number of patients with diabetic foot and other hard-to-heal chronic wounds has been increasing year by year. The annual number of patients requiring wound care has reached 100 million, including approximately 30 million with severe conditions, driving up the demand for novel wound care dressings. In addition, high-end medical dressings not only reduce the risk of infection, alleviate pain, and improve quality of life for patients, but also enhance convenience for clinicians by reducing the frequency of dressing changes. Consequently, the team believes that high-end medical dressings based on biomaterial technology represent the future trend in wound care. As such, the company has anchored its strategic development direction in this sector and established a robust core technical team.

Mr. Feng Yongliang, Chairman of HVHA Technology

Academician Fu Xiaobing, in Deep Collaboration with HVHA Biology’s 3D TechnologyHe is an expert in trauma, tissue repair, and regenerative medicine; an Academician of the Chinese Academy of Engineering; and a Foreign Associate of the U.S. National Academy of Engineering. He serves as Dean and Professor of the Academy of Life Sciences at the Chinese PLA General Hospital, Researcher in Traumatic Surgery, and Doctoral Supervisor. He is also Director of the PLA Key Laboratory of Trauma Repair at the 304th Hospital of the PLA, and Deputy Director of the PLA Burn Institute as well as Director of its Department of Basic Research.

Academician Fu has long been engaged in research on trauma and post-traumatic tissue repair and regenerative medicine. His new technologies for bio-3D printing, battlefield wound emergency care, and wound treatment have been publicly auctioned by Rongtong Group to Suzhou HVHA Medical Technology Development Co.,Ltd. (China) for technological translation. This project has achieved theoretical and key technical breakthroughs in the simultaneous regeneration of multiple skin appendages, marking the first time internationally that skin micro-organs containing multiple appendages, such as sweat glands and hair follicles, have been constructed.

The internal team is technically supported by Dr. Gu Yuan’an’s team.Dr. Gu Yuan’an, Chief Scientist and R&D Director at HVHA TechnologyWith nearly 20 years of focus on the design and R&D of biomedical polymer materials, possesses extensive expertise in composite smart hydrogels, bacterial cellulose, colloidal silver, iontophoresis, transdermal absorption, biomedical polymer materials, as well as polymer modification and processing. Was recognized as a Leading Talent in Scientific and Technological Innovation and Entrepreneurship in Jiangsu Province in 2019.

Previously, the global market for high-end medical dressings was monopolized by European and American countries. “In particular, Nordic countries, which are experiencing rapid population aging nearly 20 years earlier than China, followed by Japan, Germany, the United States, and other nations. This aging demographic has spurred market demand for high-end medical dressings and accelerated their development pace ahead of China,” introduced Mr. Feng Yongliang. This landscape began to shift in 2017–2018, as Chinese companies accelerated their catch-up efforts and rapidly increased their share of the domestic high-end medical dressing market. “With the rise of innovative domestic enterprises, international giants are gradually losing their competitive edge in the high-end dressing sector. Their slowing or reduced investment in R&D and marketing for high-end dressing materials has created a favorable window of opportunity for domestic firms, offering Chinese local enterprises greater prospects for development,” explained Mr. Feng Yongliang.

Currently, HVHA Medical Technology’s medical dressing segment primarily covers products for full-cycle wound management, providing comprehensive solutions for tissue regeneration and repair through wound prevention, care, anti-infection treatment, healing, and scar minimization. Since its market launch in 2006, HVHA ShuTai’s silver ion series has achieved average annual sales of 4 million bottles and is used by nearly 1,500 hospitals. Subsequently, HVHA Medical Technology has continuously driven product innovation and iteration, promoting the entry of its full product portfolio—including cellulose biomaterials, novel hydrogel materials, innovative closed negative pressure wound therapy (NPWT) kits, and ultrafine fiber dressing materials—into both domestic and international markets.

In August this year, the Huihan Pixinsheng™ bacterial cellulose dressing (hereinafter referred to as “Huihan Pixinsheng”) obtained the Class III medical device registration certificate issued by the National Medical Products Administration and was officially put into clinical application.

According to Mr. Feng Yongliang,HVHA Dermal Fiber is China’s first truly “breathable” artificial skin developed using bio-engineered fermentation technology.. Its unique microstructure highly mimics the arrangement of collagen in the human body,Possesses the same ultrastructure as human skin, is a nano-scale natural material formed through biosynthetic technology and holds multiple patented technologies.

HVHA Dermal Fiber

Huihan PXS is suitable for covering deep partial-thickness (deep second-degree) and more severe burn wounds, as well as for absorbing exudate from superficial wounds, burn wounds, surgical incisions, and chronic wounds. It is widely used in departments such as orthopedics, general surgery, emergency medicine, burn and plastic surgery, and wound repair. Its structure contains abundant hydrophilic groups and numerous pores, providing excellent water vapor permeability and breathability. Additionally, its soft texture and high tear resistance ensure stability and durability during use.

The key technology of Huihan Pifibio lies in the development of its core raw materials. Through a series of scientifically rigorous processes, including efficient strain screening, optimized microbial fermentation technology, precise oxidative modification treatment, and advanced polymer composite process research, HVHA Technology has...Successfully Established the Fundamental Efficacy Framework for Bacterial Cellulose Dressings. Upon completion of the fermentation process, the company implemented stringent quality control measures, with particular emphasis on the precise regulation of bacterial endotoxins,Successfully Overcame the Technical Challenges of Deproteinization, ensuring that the bacterial endotoxin content meets the stringent standards for artificial skin applications. This series of technological innovations not only consolidates the product's key performance attributes but also promotes the in-depth development of bacterial cellulose materials in the field of medical applications.

Overall, the "breathable" HVHA Pi Xian Sheng offers the following advantages:

First, it is safe and reliable, causing no rejection reactions.. Huihan Dermal Fiber exhibits high biocompatibility. Biocompatibility and toxicological evaluations demonstrate no irritation or toxic reactions, no potential cytotoxicity, no skin sensitization, and no intracutaneous irritation following implantation, allowing for prolonged wound coverage.

Second, it can fully conform to the wound, with no risk of detachment or damage.. As a temporary skin substitute, it can block bacteria and reduce the risk of infection;

3. Visualized Procedure, No Therapeutic Blind Spots. The Huihan bio-fiber material is transparent, allowing physicians to directly observe the wound without removing the dressing;

Fourth, enhanced comfort during dressing changes, with no pain from secondary trauma. Huihan’s dermal fiber scaffold adheres closely to the wound bed without occupying space and does not adhere to newly formed granulation tissue. This enables painless dressing changes, particularly in third-degree burns, by reducing bleeding and pain, thereby meeting the requirements for painless management during wound treatment;

5. Timely management of excessive wound exudate to accelerate wound healingGenerally, a large amount of exudate continuously accumulates under damaged skin. If not managed promptly, this can lead to blister formation, resulting in wound infection and edema of granulation tissue, which impedes epithelialization at the wound edges and delays healing. Huihan Pixiansheng, however, achieves absorptive drainage through its unique mesoporous structure. This structure allows air and water vapor to permeate, helping to maintain breathability at the wound site. Meanwhile, the product acts as a barrier that not only reduces the loss of heat, proteins, electrolytes, and moisture but also prevents bacterial penetration, thereby protecting the wound from external bacterial invasion;

Sixth, reduce scar formationHuihan Pi Xiansheng contains zinc ions, which can regulate the hydroxyproline content in wounds. Its efficacy is comparable to that of silicone scar sheets, thereby helping to improve healing quality.

Overall, HVHA Skin Fiber Regeneration possesses the characteristics expected of an ideal high-end dressing. What is more noteworthy is that,As a moist dressing, Huipixiansheng has a water content of up to 97%., effectively maintaining wound moisture and promoting wound healing. According to Mr. Feng Yongliang, among similar products, those from HVHA Technology have the highest water content. He acknowledged that this is also the most significant difference between the “breathable” HVHA Skin Fiber Regenerator and other skin substitutes used in clinical practice.

Currently, Huifeng Pixiansheng has successively completed the medical insurance listing process in multiple provinces and municipalities, including Beijing and Shanghai, and has received positive feedback from numerous experts in clinical applications.

Professor Wang Xiuli, Chief Expert at the Photodynamic Therapy Research Center of the Dermatology and Venereology Branch of the Chinese Medical Association and Chief Physician of the Department of Dermatology at Shanghai Skin Disease Hospital, stated, “Bacterial cellulose dressings have demonstrated outstanding efficacy in studies conducted at Shanghai Skin Disease Hospital to evaluate their effectiveness and safety in promoting ulcer wound healing following HiPorfin-mediated photodynamic therapy for extramammary Paget’s disease.” She also fully affirmed their therapeutic benefits in managing cancerous wounds. Professor Lv Guozhong, Director of the National Emergency Medicine Research Center, Chairman of the Burn Surgery Branch of the Chinese Medical Association, and Director of the Burn and Trauma Diagnosis and Treatment Center at the Affiliated Hospital of Jiangnan University, remarked, “As an innovative material, bacterial cellulose has brought revolutionary progress to the field of medical dressings, owing to its excellent biocompatibility, superior wound-healing promotion capabilities, and ability to meet patients’ needs for comfortable treatment.”

A hospital in Hubei Province is treating a patient with extremely severe burns, covering 96% of the total body surface area (TBSA), with third-degree burns accounting for 70%. During treatment, HVHA Skin FiberGen was applied to cover the wound beds after eschar excision and to meshed graft sites. It was observed that skin graft growth was faster when using HVHA Skin FiberGen compared to traditional dressings.

“Huihan’s breathable bacterial cellulose is not only an artificial skin product but also a novel material with significant potential for innovation,” introduced Mr. Feng Yongliang. “This material can be combined with other wound care materials and pharmaceuticals. Currently, we are conducting in-depth collaborative research with hospitals and scientific research institutes to composite bacterial cellulose with other materials and drugs, continuously expanding its new application scenarios and functions, and thoroughly exploring its utility value.”

Building on its bacterial cellulose products, HVHA Technology is developing a series of multifunctional composite materials, such as bacterial cellulose scaffold materials, antibacterial bacterial cellulose materials, and anti-wrinkle bacterial cellulose materials, thereby extending the innovation of its core materials from wound repair to the medical aesthetics field. In addition, biological 3D printing and new technologies for battlefield trauma emergency care and wound treatment will be the company’s key focus areas for future research and development.

To date, HVHA Technology’s medical dressing product series has comprehensively covered every critical stage of wound care.Product offerings span the entire healing continuum, from early-stage anti-infection and mid-stage tissue repair and regeneration to late-stage tissue remodeling.. In terms of core technologies, Huihan Technology possesses comprehensive control capabilities spanning the entire process from research and development to production, ensuring high product quality and stability.

In terms of market layout, HVHA Technology’s business covers China, and it will expand into markets in Europe, the United States, Southeast Asia, Africa, and other countries and regions over the next five years. The company expects to obtain FDA approval for its breathable HVHA dermal fiber product in 2026, which will accelerate its international expansion.

Currently,HVHA Technology is currently conducting its Series B financing round. The funds raised will be primarily allocated to the in-depth development and market promotion of HVHA’s dermal fiber regeneration products, as well as the regulatory registration of its bio-3D printing ink products.

In the future, HVHA Technology will continue to uphold technological innovation, with a mission to drive medical applications through new materials, providing more and better products for doctors and patients, thereby improving patients' quality of life and the level of wound care in China.