Genesis MedTech Secures Hundreds of Millions in RMB in New Financing Round Led by Wuxi Capital

VCBeat has learned at the earliest opportunity that recently,Genesis Medical Technology Group (hereinafter referred to as "Genesis Medical")Announced the completion of a new round of financing amounting to hundreds of millions of RMB, with this round led byWuxi Capital Group, Binhu Industrial GroupLead Investor,Prominent U.S. Medical Device Industry PlayerFollow-on investment. The proceeds from this financing round will be used for product R&D, production expansion, and subsequent commercialization in domestic and international markets at Genesis's Wuxi base.

Genesis is an emerging medical technology enterprise in China, focusing on three major disease areas: minimally invasive surgery, vascular intervention, and structural heart disease. It has become a leading domestic brand in these fields. Genesis possesses a portfolio of products with competitive advantages and is the first Chinese company to receive approval for high-tech medical devices such as electric endoscopic staplers, antimicrobial sutures, intracranial thrombectomy stents, and transcatheter aortic valve implants.

To date, Genesis’s products have entered more than 2,000 large and medium-sized hospitals in China, and are exported to international markets including Europe, the Americas, and South Korea. Genesis Medical has established multiple high-end R&D and production bases in China, benchmarking its manufacturing processes and mass-production capabilities against globally advanced medical technology companies, thereby equipping itself with high-level production capacity.

Zhang Shiyu, Vice President of Genesis and Head of Business Development and Group Strategystated: “Over the five years since its inception, Genesis has built its R&D, production, and sales systems from the ground up. Looking ahead, we will continue to strengthen our foundation and optimize operations, consistently delivering innovative, high-quality, and cost-effective products to more physicians and patients.”

Fu Haiying, Managing Director of Biopharmaceuticals at Wuxi Capital Group“It has achieved full integration across the entire value chain of medical device manufacturing, R&D, clinical trials, regulatory registration, and sales. After several years of development, it has grown into a leading domestic medical device enterprise with fully validated comprehensive competitiveness. Meanwhile, we believe that against the current backdrop of industrial upgrading and global expansion, industry consolidators like Genesis and medical device companies with international capabilities possess strong risk resilience, while demonstrating prominent advantages in independent innovation and R&D, volume growth through centralized procurement, and international cooperation. The dual endorsement from Chinese investors and U.S. strategic industry investors will further strengthen Genesis’s business expansion in key areas, providing more innovative therapies to China and the United States and saving patients’ lives.”

Zhao Wen, Deputy General Manager of Binhu Industrial Groupstated: “Genesis is a leading enterprise in China’s domestic medical device industry. The company boasts a rich and comprehensive product portfolio in niche sectors such as minimally invasive surgery and vascular intervention. Its founding team possesses extensive experience in the healthcare industry and outstanding capabilities in commercial expansion. With strong overall growth momentum, particularly in R&D and manufacturing, Genesis has the ability to leverage global innovative resources. In the future, it plans to implement more projects with strong leadership potential, high growth prospects, and significant driving effects in Wuxi Binhu, thereby boosting local industrial development.”

Wuxi Capital Group is a state-owned venture capital firm integrating seed, angel, startup, equity, M&A, and S-fund investments. With total assets under management exceeding RMB 240 billion, the company has deeply cultivated the life and health sector, establishing a comprehensive fund system covering seed, angel, VC, and PE stages to support companies throughout their entire lifecycle in the biopharmaceutical and healthcare industries. This approach delivers both capital and synergistic industrial resources to portfolio companies. Its current biomedical investment focus areas include innovative drugs, biotechnology, and medical devices. Portfolio companies such as Rayue Biotech, Xiantong Medicine, Heqirui, Kemeixin, Yituo Pharma, and Shining 3D are all industry leaders with internationally competitive technological advantages in their respective niches.

Wuxi Binhu Industrial Investment and Development (Group) Co., Ltd. is a state-owned enterprise directly under the jurisdiction of Binhu District, Wuxi City. It primarily focuses on equity investment, industrial park development, investment promotion and operation, and quasi-financial services, striving to become a leading provider of industrial investment and development services. As the equity investment platform of the district’s industrial group, Binhu Sci-Tech Innovation has, since commencing substantive operations, closely aligned with Binhu District’s “543” industrial framework, deeply cultivating strategic emerging industries such as integrated circuits, life and health, and new energy, while strategically laying out future industries including synthetic biology and artificial intelligence.