Favorsun Aesthetics Secures Nearly RMB 100 Million Series A Funding to Strengthen Global Leadership in Silk Fibroin Technology

VCBeat has learned that Fuxiang Aesthetics (Fuxiang Silk Ste Medical Technology (Suzhou) Co., Ltd.), a global leader in silk fibroin biomaterials, recently completed its Series A financing round, raising nearly RMB 100 million. The round was co-led by Yuhai Capital and Shaanxi New Era Capital Management Co., Ltd., with Herui Venture Capital participating as a follow-on investor.

Fuxiang Aesthetics was established in 2020, dedicated to biomedical tissue engineering repair and aesthetic product development using silk fibroin. The company focuses on silk fibroin, a biomaterial with excellent physicochemical properties, biocompatibility, biodegradability, and non-immunogenicity. Through years of deep cultivation and accumulation in the industry, the company has established three major advantages:

1. Scientific Advantages: Leveraging nearly 40 years of fundamental research on fibroin led by Professor Shao Zhengzhong’s expert team, and nearly 15 years of industrialization experience from our commercialization team, we have accumulated dozens of patents covering the entire process chain, from fibroin extraction to product formulation. We have participated in the development of national industry standards and international standards for fibroin-based medical devices.

2. Technical Advantages: We have overcome industry-wide challenges in the preparation, characterization, and application of silk fibroin. As the only player in the industry capable of measuring molecular weight and precisely regulating it, we achieve real-time, precise control over the "aggregated state structure," thereby mastering the regulation spectrum "from soft to hard materials" for applications in regenerative medicine and tissue engineering. We have achieved ton-scale mass production of high-molecular-weight silk fibroin with controllable molecular weight, narrow distribution, high precision, high active ingredient content, and enhanced functionality, placing us at a global leading level. We pioneered the "Favorsun Smart MolFit" (i.e., "Complex Directional Intelligent Computation") series of AI computational software, which utilizes rheology and independent research to accurately determine the molecular weight of macromolecular silk fibroin.

3. Global Leadership: On May 11, 2024, Fuxiang Aesthetics completed the master file registration for its silk fibroin raw materials with the Center for Medical Device Evaluation (CMDE) of the National Medical Products Administration, solidifying its position as a leader in the international field of medical-grade regenerated silk fibroin. Fuxiang Aesthetics has established a complete industry chain encompassing basic research, industrialization, and end-product commercialization of implantable-grade silk fibroin. Building on its foundational research in silk fibroin, the company is developing a diverse product portfolio focused on medical aesthetics, contract development and manufacturing organization (CDMO) services for medical devices, and consumer healthcare. This strategy aims to accelerate the creation of a globally leading innovation ecosystem in the healthcare industry, promoting Oriental aesthetics to the world stage.

The proceeds from this round of financing will be primarily used for the clinical trials of core products FS-31 and FS-32, the commercial promotion of FS-21 and FS-22, and the expansion of the company’s international business.

Dr. Liu Yezhuo, Founder and Chairman of Fuxiang Aestheticsstated: “For over a decade, Fuxiang Aesthetics has been deeply engaged in the research, development, and application of silk fibroin materials, achieving remarkable results particularly in the medical field. We sincerely appreciate the confidence and support shown by investors such as Yuhai Capital and Shaanxi New Era Capital Management Co., Ltd. This successful financing round will significantly accelerate our product development and market expansion. Remaining true to our original mission and forging ahead with determination, we are committed to bringing silk fibroin materials with distinct Chinese characteristics to the global stage.”

Zhang Shuaixin, Co-founder and CEO of Fu Xiang Aestheticsstated, “We are deeply grateful for the support from professional investors in this round. This is not only an affirmation of Fuxiang Aesthetics’ past efforts, but also a recognition and boost to our future development. We aim to position the company as a leader in China’s Medical Aesthetics 2.0 era, leading Oriental aesthetics onto the global stage.” Adhering to the philosophy of “Striving for Perfection and Sincerity, Upward and Benevolent,” Fuxiang Aesthetics will continue to accelerate the development and commercialization of its innovative medical aesthetics pipeline.

Head of Yuhai Capital“Fuxiang Aesthetics is an innovative technology enterprise with core capabilities in raw material preparation and product R&D. Its silk fibroin products are poised to secure a significant position in the global aesthetic medicine regeneration market, positioning the company as a next-generation leader in the medical aesthetics industry and setting new trends.”

Head of New Era CapitalIt stated: “As a natural biomaterial, silk fibroin offers high biosafety and elicits a low host immune response, and has been incorporated into the 14th Five-Year Plan for Bioeconomy Development. Building on decades of fundamental research, the founding team of Fuxiang Aesthetics has successively overcome challenges in large-scale preparation, characterization, storage, and transportation, and has participated in the formulation of industry standards. In terms of commercialization, the company has also collaborated with renowned international medical aesthetics giants, marking a significant step forward in the application of silk fibroin within the medical aesthetics industry. This may become a rare ‘license-out’ case in China’s domestic medical aesthetics sector. It is believed that in the near future, domestic consumers will be able to enjoy the upgraded experience brought by this cutting-edge technology, and Fuxiang Aesthetics will lead the trend and become a leader in this field.”

Yuhai Capital is an investment institution focused on high-growth industries, with a founding team that possesses extensive investment experience and a rich track record of successful cases. Established in 2022, its RMB blind-pool fund features shareholders comprising both industry veterans and strategic industrial partners, positioning it as a leading innovative high-tech growth-stage investment fund in China with a global perspective.

Shaanxi New Era Capital Management Co., Ltd. is a wholly-owned private equity fund management company under Shaanxi Financial Holding Group Co., Ltd., and completed its registration as a private equity fund manager in July 2020. Operating nationwide across China, New Era Capital’s business spans equity investment, capital markets, and other investment areas. Focusing on high-growth niche sectors, the company adheres to market-oriented operations and professional investment strategies, continuously amplifying the effectiveness of state-owned capital, improving the operational efficiency of state-owned assets, and driving value enhancement for its portfolio companies.