Yinke Holdings Completes Tens of Millions RMB Series A Funding to Accelerate Original Innovation and Domestic Substitution in Medical Device Upstream Materials

In March 2024, Shanghai Yingyou Technology Co., Ltd. (hereinafter referred to as “Shanghai Yingyou”) and Suzhou Yinchi New Materials Technology Co., Ltd. (hereinafter referred to as “Suzhou Yinchi”) officially completed their merger, becoming subsidiaries of Suzhou Yinke Holdings Co., Ltd.Meanwhile, Suzhou Yinke Holdings Co., Ltd. announced the completion of its Series A financing round, raising nearly tens of millions of yuan. The round was led by Proxima Capital, with Huada Win Win (Shenzhen) Equity Investment Fund Management Co., Ltd. participating as a co-investor, providing comprehensive support for the group’s development. Reportedly, the proceeds will be primarily used for product research and development, iterative upgrades, and the implementation of commercialization strategies.

China has surged to become the world’s second-largest medical device market. In this nearly trillion-yuan market, domestically produced medical devices have largely achieved import substitution in the low- and mid-end segments and are continuously making inroads into the mid- to high-end market. The development of mid- to high-end products,Cannot be separated from the support and boost of the upstream industrial chain,The value of upstream medical device enterprises is becoming increasingly apparent.

Suzhou Yinke Holdings Co., Ltd. is a technology-driven group enterprise integrating R&D, production, sales, and trade. Primarily focused on the medical and general health sector, it serves as an upstream supplier for the medical device industry, contributing to the upgrading and transformation, domestic substitution, and independent innovation of high-tech industries in China, including medical devices, daily chemicals, medical aesthetics, and personal care.

Shanghai Yingyou (under Yinke Holdings), established in 2013, is a medical polymer materials technology company integrating R&D and sales of medical-grade materials, specializing in the domestic substitution of such materials. It provides customized medical adhesives, modified special plastic pellets, modified TPU, and other medical-grade materials, committed to facilitating the upgrading of China’s healthcare industry and contributing to the localization of medical materials.

Suzhou Yinjiu (under Yinke Holdings)A high-tech materials company specializing in the independent R&D of biomimetic materials and special nano-scale polymer materials, as well as providing related comprehensive solutions. The company offers targeted R&D, customization of functional materials, and industrialization services, deeply integrating with domestic market demands to provide clients with end-to-end solutions from laboratory R&D to mass production. In collaboration with a scientific team from Nanjing University, the company has achieved significant research breakthroughs in the study and application of phosphorylcholine coating technology in China. This technology is widely applied in the manufacturing of products for cardiovascular care, stroke management, dialysis and urological systems, extracorporeal life support systems, ophthalmology, and orthopedics. It reduces tissue irritation and damage caused by medical devices, prevents thrombus formation, lowers infection risks, and enhances patient comfort, which is of great significance for improving the reliability and stability of medical equipment. Following this round of financing, the team will continue to expand its innovation platform, leveraging its proprietary technologies and processes, with the commitment to becoming an industry leader in the field of biomedical coating materials.

Regarding this round of financing, Yang Xin, President of Yinke Holdings, stated:First and foremost, we extend our sincere gratitude to our shareholders for their recognition and support of the company. As a critical sector concerning human life and health, the medical materials industry involves significant complexity in both research and development (R&D) and application. The journey from the initial R&D of novel materials to their final application in medical devices requires overcoming multiple technological and market barriers. Challenges and uncharted territories abound across every stage, including material synthesis, process control, customized equipment development, quality control, and quality management.To effectively overcome these hurdles, we adhere to the philosophy of multidisciplinary synergy. By integrating expertise from organic synthesis, automation, chemical engineering, biology, chemistry, physics, physical chemistry, and analytical chemistry, we engage in cross-disciplinary, comprehensive collaboration and exploration. This approach enables us to meet diverse customer needs for customized services through multiple channels.For a long time, imported medical materials dominated the domestic market. However, with continuous technological breakthroughs and innovations in China, we are pleased to witness domestically produced medical-grade materials gradually replacing imports and becoming the mainstream choice in the market.Innovation is the key driver of industry development in the field of medical materials. We recognize that only through continuous innovation can we break free from traditional constraints and lead industry trends. Therefore, we have invested heavily in R&D, focusing on the development of new material products and striving for significant breakthroughs in performance, safety, and biocompatibility. We have established close partnerships with renowned universities and research institutions both domestically and internationally, continuously introducing advanced technologies and concepts to ensure our new material products remain at the forefront of the industry. Our goal is to contribute our share to the development of the medical materials industry and the broader health sector in China and around the world.

Sun Xiaolu, Founding Partner of Proxima Capital, stated:With the rapid development of China’s medical device sector, Proxima Capital has been closely monitoring investment opportunities in the upstream supply chain. The medical-grade materials sector demands more comprehensive capabilities. The team at Suzhou Yinke Holdings Co., Ltd. possesses deep expertise in this field, and its innovative coating technologies—pioneered both domestically and internationally—as well as its Chinese-made alternatives for medical-grade materials, demonstrate strong market potential and competitiveness. We look forward to the company achieving further milestones and bringing more high-quality medical-grade materials to market.

Proxima Capital is dedicated to identifying, investing in, and fostering exceptional medical technology innovators with significant growth potential. We manage both RMB and USD funds, leveraging our team’s diverse and international expertise, professional backgrounds, and resource networks, which are enriched by extensive clinical resources, industrialization experience, and entrepreneurial track records. We are continuously building an ecosystem for medical technology startups to make entrepreneurship easier, faster, and more successful. We support entrepreneurs with a grand vision, focusing on the long term to build great companies with strong competitiveness and sustained innovation capabilities, thereby creating substantial clinical value for society over time. Mr. Sun Xiaolu, Partner at Proxima Capital, stated:

Mr. Liu Yu, Founding Partner of Huada Win Win, stated:As an industrial investment firm focused on the bioeconomy and biomanufacturing, we have established a substantial investment portfolio in the life and health sector. However, through our extensive industry experience, we have come to deeply recognize that the upstream segment of the industrial chain, represented by medical materials, constitutes a genuine pain point for the industry. The team led by Mr. Yang Xin, together with Yinke Company, possesses strong capabilities in cross-disciplinary research and product development, and their mass production processes are largely mature. I am confident that Yinke is the solution to these industry challenges and believe the company will grow into a leader in China’s biomedical materials sector.

Huada Win Win, a venture capital firm backed by the BGI Group industrial ecosystem, combines the dual advantages of corporate venture capital (CVC) and traditional venture capital (VC) in terms of industrial resources and flexible decision-making mechanisms. Advocating the investment philosophy of “R&D-driven investment,” it focuses on comprehensive, stage-agnostic investments in high-quality projects within the bioeconomy sector, including gene technology, cutting-edge biopharmaceuticals, innovative medical devices, food and nutrition, and biomaterials. Committed to becoming a leading innovation investment management institution in the bioeconomy field, Huada Win Win strives to achieve resource sharing and mutually beneficial development among industrial partners, fund limited partners, and portfolio companies.