Yinke Holding Files for IPO: Secures Tens of Millions in Orders with End-to-End High-Performance Medical Material Solutions

According to Roland Berger’s “Current Status and Trends of China’s Medical Device Industry,”2022China's medical device market size is expected to reach9582RMB 100 million.

As this nearly trillion-dollar market continues to expand, downstream medical device manufacturers are raising their demands and requirements for upstream raw materials. In particular, domestic manufacturers have already established a firm foothold in the low- to mid-end markets and are gradually making inroads into the mid- to high-end segments. This transition relies heavily on support from the upstream supply chain and the coordinated development of the entire industry chain.

Against this backdrop, to enhance the quality and performance of medical devices, reduce costs, and drive rapid industry growth, capital and markets are actively seeking upstream enterprises with innovation capabilities and competitive strength.

In early 2024, Suzhou Yinke Holdings Co., Ltd. (hereinafter referred to as “Yinke Holdings”), an upstream supplier of high-end medical materials for medical devices, announced the completion of a Pre-A financing round worth tens of millions of yuan.

Suzhou Yinke Holdings Co., Ltd. is a technology-driven group enterprise integrating R&D, production, sales, and trade, dedicated to the innovative upgrading and domestic substitution of upstream raw materials in industries such as medical devices, medical aesthetics, and personal care.

When discussing the new brand “Yinke,”Yang Xin, Founder, Director, and General Manager of Yinke HoldingsHe said, “The company team is very interested in astrophysics. ‘Ke’ is derived from the Kuiper Belt, the outermost region of the solar system,”It is hoped that, as a leading upstream supplier of medical materials in China and a bridge between the material and application ends, Suzhou Yinke Holdings Co., Ltd. will continuously expand its service scope into broader markets and industries, help more downstream customers resolve the critical bottleneck issues in raw material supply, and assist enterprises in further enhancing product performance, thereby extending benefits to more patients.”

Through the collective efforts of our team, Suzhou Yinke Holdings Co., Ltd. has grown into aA Group Company Integrating Product R&D, Manufacturing, Sales, and Trading, its subsidiary Suzhou Yinji has been honored with several awards, including “2023 Gusu Entrepreneurial Leader” and “2023 Suzhou Industrial Park Science and Technology Leader.”

“Prior to establishing Yinke Holdings, I founded Shanghai Yingyou New Materials in 2013. Yingyou New Materials is a high-tech enterprise integrating technology, industry, and trade, specializing in customized specialty polymer materials for various downstream application industries. In 2017, the entire company”Start"Strategic adjustment and comprehensive transformation, dedicating ourselves to the R&D and domestic substitution of high-end medical materials," said Yang Xin in an interview.

Meanwhile, amidst the rapid development of the medical industry, Yang Xin has also observed that China’s upstream high-end medical materials sector is in a passive position, dominated by highly concentrated monopolies in developed countries. In response, Yang Xin stated, “As an upstream supplier for medical devices, we have a responsibility to contribute to the upgrading and transformation of high-tech industries such as medical devices and the broader health sector, as well as to advance import substitution with domestically produced alternatives.”

From the research and development of novel medical biomaterials to their eventual application in medical devices, this translational process involves overcoming multiple technological and market barriers, making it fraught with challenges.

Yang Xin stated, “To effectively overcome these challenges, Suzhou Yinke Holdings Co., Ltd. has consistently adhered to the philosophy of multidisciplinary symbiosis, seeking breakthroughs across diverse fields ranging from organic synthesis, automation, and chemical engineering to biology, physics, physical chemistry, and analytical chemistry. Through this interdisciplinary, comprehensive model of collaboration and exploration, the company has successfully surmounted multiple hurdles in process design and large-scale mass production.”

In addition to deepening the path of domestic substitution for raw materials, Yang Xin founded Suzhou Yinchi and invited his former classmate and close friend to join him, aiming to achieve source innovation spanning material synthesis, process design, and customized products.Professor Cao, Nanjing Universityfor their invaluable support.

“Professor Cao is the company’s co-founder and Chief Scientist. Professor Cao’s team possesses mature and cutting-edge technological expertise in fundamental materials science, while the Suzhou Yinke team brings robust capabilities for mass-production translation. By pursuing both original innovation and practical commercialization, the company has gradually moved beyond the conventional path of domestic substitution. Leveraging its strengths in proprietary technology and process design, it has built an innovation platform dedicated to high-end domestically produced medical materials, providing a continuous upward momentum to China’s new medical materials industry,” said Yang Xin.

As Yang Xin outlined in the interview, the core development logic of the upstream medical device sector is import substitution. With continuous technological breakthroughs and innovations in China, domestically produced medical-grade materials are gradually replacing imported ones and making inroads into the high-end segment of innovative medical materials.

In the field of medical materials, innovation is the key to driving industry development.

Suzhou Yinjiu, a subsidiary of Suzhou Yinke Holdings Co., Ltd., serves as the group’s R&D center. It focuses on the research and development of biomimetic materials and specialized nano-scale polymer materials, as well as providing related comprehensive solutions. The company offers downstream clients in the medical, daily chemical, and medical aesthetics sectors targeted R&D of nano-scale polymer materials, along with customization and industrialization services for specialty materials.

Suzhou Yinke Holdings Co., Ltd. has joined forces with Professor Cao’s team to achieve significant innovations in the research and application of medical coating materials, independently developing a high-performance medical coating: Phosphoryl Choline (PC).

Specifically, phosphorylcholine is a major component of lecithin, which constitutes the outer layer of cell membranes. It occurs naturally in biological cells and thus exhibits excellent biocompatibility, making it one of the most effective approaches to addressing thrombosis on device surfaces.

As a leader in the field of phosphorylcholine materials in China, Suzhou Yinke Holdings Co., Ltd. has jointly developed a phosphorylcholine coating with its team of scientists. This coating exhibits excellent anticoagulant properties, resisting the adhesion of proteins, cells, and bacteria to the surfaces of implantable and interventional medical devices, thereby preventing the formation of complications such as thrombosis.

“The greatest advantage of the phosphorylcholine coating is that its nanoscale thickness is only 1/300th that of heparin coatings, thereby resolving the anticoagulation challenges associated with small and micro implantable and interventional devices without compromising the product’s design dimensions,” said Yang Xin.

Implantable and interventional medical devices, due to their involvement with the human body, are subject to stricter regulatory oversight, resulting in longer R&D cycles and greater technical challenges. Therefore, compared with heparin coatings that exert antithrombotic effects through pharmacological mechanisms, phosphocholine coatings, which do not involve a drug-device combination,Not only is it suitable for all populations, helping medical device manufacturers significantly shorten the certification timeline, but the phosphocholine coating process is also relatively simple, which can reduce costs and improve the stability of mass production.

Leveraging this advantage, Suzhou Yinke Holdings Co., Ltd. deeply integrates with domestic market demands, inCardiovascular, Stroke, Dialysis and Urology, Extracorporeal Life Support Systems, Ophthalmology and Orthopedics...and other fields, it has carried out the application and manufacturing of phosphorylcholine coatings, providing customers with a comprehensive end-to-end solution from laboratory R&D to mass production.

To gauge the strength of upstream medical device companies, one must also consider whether they can penetrate the supply chains of leading medical device manufacturers.

Over the past decade, Suzhou Yinke Holdings Co., Ltd. has established long-term partnerships with dozens of downstream enterprises, including listed companies that impose stringent requirements on material performance and supply capabilities.and has secured sales orders worth tens of millions.

Mid-2023,Suzhou Yinjiu, Shanghai Yingyou, and Jiangxi Sanxin Medical Technology Co., Ltd.Formally Signed Strategic Cooperation Agreement on Medical Materials. Sanxin Medical is a high-tech enterprise in China that has been engaged in the research, development, and manufacturing of blood purification products at an early stage, and it is also the first listed company in China to complete the full product chain layout of “hemodialysis equipment + consumables.” Through this in-depth cooperation, both parties will jointly promote technological innovation and industrial upgrading in the field of new materials for medical devices through innovative R&D.

At the end of the interview, Yang Xin stated that although he is the founder and general manager, he has always been active on the front lines of R&D and production since the company’s inception, having also served as the R&D Director.

Therefore, as a deep participant in the industry, Yang Xin has had profound insights over the years into the innovation of domestically produced raw materials and the path toward domestic substitution.“The high-value medical raw materials sector in which the company operates is characterized by high technological sophistication and significant manufacturing complexity. Achieving domestic substitution and innovation requires substantial investment in R&D resources and effort, coupled with close collaboration across the upstream and downstream segments of the industry. Only through sustained, long-term dedication can major breakthroughs be made in product performance attributes such as safety and biocompatibility, ultimately establishing a secure, controllable, and resilient supply chain at the source and empowering the development of a healthy industrial ecosystem.”