Manteia Secures RMB 110 Million Series B Funding to Advance Innovation and Domestic Substitution in Precision Radiotherapy Software

VCBeat has learned that Manteia Technologies Co., Ltd. (hereinafter referred to as “Manteia”) recently completed a B-round financing of RMB 110 million. The round was led by Zhongke Haichuang, under the Technology Achievement Transformation Guidance Fund of the Ministry of Science and Technology, with participation from Yangming Capital and industrial cooperation partners.

Manteia is a comprehensive radiotherapy software R&D company. Its core products include an Adaptive Radiation Therapy (ART) planning system, radiotherapy-related functional systems, data information systems, quality control systems, and real-time analysis and training systems based on deep learning.

Among cancer treatment modalities, radiotherapy, which employs high-energy radiation as its primary tool, is known as the “invisible scalpel.”

Over the past decade, with rapid technological advancements, radiotherapy has broken away from traditional models and entered a new era of precision radiotherapy, presenting both opportunities and challenges for Chinese medical device enterprises. Since the 12th Five-Year Plan period, the Chinese government has classified radiotherapy-related hardware and software as "chokehold" technologies, explicitly mandating the achievement of "domestic substitution."In mid-2023, the National Health Commission issued the “Notice on the 14th Five-Year Plan for the Allocation of Large-Scale Medical Equipment,” signaling a push for the substitution of domestically produced equipment and mandating the development of indigenous high-end radiotherapy devices.

Manteia has independently developed a full suite of functional components for the entire radiotherapy workflow, currently covering areas such as radiotherapy decision support, target volume delineation, treatment planning, quality control, and workflow and data management. It provides combined solutions tailored to different clinical scenarios, including adaptive therapy solutions, information and logistics management solutions, and multi-center data management solutions.

Among them, AccuContour^®Approved by the U.S. FDA in 2020, it is China’s first AI-based radiotherapy imaging workstation product to receive FDA clearance.

In 2022, Manteia launched an informatics solution to promote clinical informatization and process standardization, focusing on clinical data management, workflow management, quality control management, and follow-up management.

In 2023, Manteia developed and launched its first treatment planning system capable of supporting multiple imaging guidance modalities (CBCT/CT/MR), MOZI-Online TPS. In the second half of 2023, it successively obtained U.S. Food and Drug Administration (FDA) 510(k) clearance and China National Medical Products Administration (NMPA) Class III medical device approval, aiming to promote the widespread adoption and implementation of adaptive radiotherapy.

Manteia officially commenced operations in 2018, with R&D personnel accounting for 80% of its workforce.Undertook 80+ domestic joint research projects and 20+ international joint research projects; filed 70+ domestic patents and 5 international patents.and was invited to join Task Group 384 (TG-384) of the American Association of Physicists in Medicine (AAPM), contributing to research on adaptive radiotherapy and the development of related guidelines and recommendations.

As of November 2023, Manteia’s products have obtained three Class III medical device registrations and one Class II registration from China’s National Medical Products Administration (NMPA), four clearances/approvals from the U.S. Food and Drug Administration (FDA), two CE marks, and four additional approvals in other countries and regions, securing market authorization for product launch and sales in multiple countries worldwide. Currently, Manteia serves clinical practice and patients across more than 1,100 hospitals, including Shandong Cancer Hospital, Peking Union Medical College Hospital, the Chinese PLA General Hospital, the National Cancer Center and Proton Therapy Center (NCC) of Korea, Seoul National University Hospital (SNUH), Mayo Clinic, and the New York Proton Center (NYPC).

With strong market recognition, Manteia continues to attract investor interest. The company completed a RMB 33 million angel financing round with Fosun Group in 2018, a RMB 100 million Series A financing round with Danlu Capital and Deyi Capital in 2020, and most recently, this Series B financing round. It is understood that to drive the company’s global expansion, the Series B+ financing round will also be officially launched in the near future. Empowered by capital, Manteia will target the global market, leveraging technology to advance life sciences, staying true to its original mission and forging ahead with determination.

Special thanks to financial advisory consultants Qiangyun Capital and Huanghe Capital for their invaluable assistance in this round of financing.

Weifang Zhongke Haichuang Equity Investment Partnership (Limited Partnership) is a venture capital sub-fund established under the National Fund for Technology Transfer and Commercialization. The National Fund for Technology Transfer and Commercialization was set up by the Ministry of Science and Technology and the Ministry of Finance to support the commercialization of scientific and technological achievements, particularly those generated with fiscal funding, through the establishment of venture capital sub-funds. Under the guidance and management of the National Center for Science and Technology Risk Development, which is directly affiliated with the Ministry of Science and Technology, Weifang Zhongke Haichuang Equity Investment Partnership (Limited Partnership) is committed to providing equity investments in non-listed high-tech enterprises engaged in the commercialization of scientific and technological achievements. To date, it has invested in multiple domestically leading enterprises specializing in the commercialization of high-tech scientific and technological achievements.

Yangming Capital, established in 2013, is a professional investment management firm specializing in emerging industries such as general health, education, information technology, and environmental protection and energy conservation. The company’s founders and management team have extensive experience in corporate management, industrial investment, and fund management at listed companies, renowned investment firms, and management consulting agencies. Its managed fund, Fujian Yangming Venture Capital Partnership (Limited Partnership), is the first venture capital sub-fund established under the National Technology Transfer and Commercialization Guidance Fund in Fujian Province.