Weixin Medical Secures Tens of Millions in Series A Funding to Build an Innovative Medical Device Platform Focused on Women's Health

VCBeat has learned that microinno, an innovative medical device platform focused on women's health, recently completed its Series A financing round, raising tens of millions of yuan. The round was led by Jinding Capital, with Taiyu Investment participating as a co-investor. Tianchao Capital served as the financial advisor for this financing round. According to Zhang Yang, CEO of microinno, the funds will primarily be used to advance clinical studies for product registration and to expand the R&D team.

microinno was founded in 2021. When asked why the company chose to launch its startup during the pandemic, Zhang Yang, CEO of microinno, stated, “A good project can survive even in extremely difficult circumstances.” He further added, “Very few companies in China are truly engaged in original medical device R&D, and we aspire to be among this select group.”

Perhaps this is also why microinno was able to weather the pandemic and successfully secure its Series A funding shortly after completing its angel round.

The female health sector undoubtedly offers immense potential for growth and innovation.

From the demand perspective, the vast female population has given rise to a massive market for disease screening, diagnosis, and treatment.

From the perspective of met treatment needs, according to the "2022 China Health and Health Statistical Yearbook," in 2021, maternal and child health hospitals (institutes, stations) (among the services they provide, outpatient gynecology and obstetrics services often account for the highest proportion) had 307 million visits, with total annual revenue reaching 184.746 billion yuan. In 2018, the corresponding figures were 292 million visits and 146.313 billion yuan. It can be seen that both the revenue per visit and overall income are maintaining growth, and there is hope for a rapid breakthrough to a market size of over 200 billion yuan.

From the perspective of unmet therapeutic needs, data from the Seventh National Population Census indicates that the current female population in China stands at approximately 688 million (across all age groups). In recent years, heightened disease awareness campaigns and the widespread implementation of screening for breast and cervical cancers have improved women’s health consciousness in areas such as early detection of these malignancies. However, the rate of seeking medical care for other gynecological conditions remains low. According to the Report on Reproductive Health of Women of Childbearing Age in China, less than 60% of Chinese women of childbearing age seek medical attention for gynecological illnesses, indicating substantial room for growth.

From the supply side, the provision of screening, diagnostic, and therapeutic services for women's health remains inadequate.

Setting aside for the moment issues such as the number of obstetrics and gynecology healthcare providers and their service quality, the primary challenge facing women’s health screening, diagnosis, and treatment is the insufficiency of corresponding diagnostic, therapeutic, and rehabilitation equipment.

On the one hand, from the perspective of the international market, publicly listed companies in the women’s health sector currently tend to focus on providing feminine care and medical services, such as Progyny (listed in 2019), Hims & Hers (listed in 2021), and Sema4. Although some multinational medical insurance enterprises have begun to prioritize women’s health, they operate it merely as a business division. In contrast, only a few listed companies, such as Hologic and CooperSurgical, are dedicated to offering innovative products that cover the full spectrum of women’s health scenarios.

On the other hand, from the perspective of the domestic market, the women’s health sector is in its early stages of development. Companies such as Hologic, which we previously mentioned as having gained prominence in international markets, are currently expanding their presence in China through locally established entities. Meanwhile, innovative enterprises in China’s women’s health sector remain largely at the startup stage, with many companies still needing to further develop their products and penetrate the market.

This has also enabled more companies, both domestically and internationally, to recognize the opportunities. A large number of Femtech enterprises—defined as technologies, software, products, and diagnostics that leverage technological means to improve women’s health and well-being—have been established one after another, securing round after round of financing. According to forecasts by Global Market Insights, the Femtech market size exceeded $22.5 billion in 2020 and is projected to grow at a compound annual growth rate (CAGR) of 16.2% from 2021 to 2027.

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Microinno has undoubtedly also recognized the development opportunities in the field of women's health. However, unlike many companies targeting the provision of women's healthcare services, it adopts a more hardcore approach: Microinno aims to become China’s “Hologic” and “CooperSurgical.”

In the field of women's health, the more critical pain point lies in addressing the challenges associated with clinical screening, diagnosis, and treatment for women—

From the hospital’s perspective, providing screening, diagnostic, and therapeutic services for women often presents numerous challenges related to investment, maintenance, and management. Due to the wide variety and complexity of equipment used in female-specific diagnosis and treatment, hospitals must incur substantial costs to establish departments and acquire diagnostic and therapeutic devices. Furthermore, the large number of devices significantly increases maintenance expenses. In terms of management, inadequate disinfection of equipment such as endoscopes can lead to healthcare-associated infections (HAIs). Hospitals urgently seek innovative medical device platforms for women’s screening, diagnosis, and treatment that require lower initial investment and are easier to manage and maintain.

From a physician’s perspective, the core pain point lies in how to diagnose and treat patients more effectively and efficiently during clinical practice, thereby alleviating their physical and financial burdens. Traditionally, disease diagnosis and treatment have been time-consuming, and the associated medical devices often entail a steep learning curve.

From the patient’s perspective, gynecological diseases have a high incidence rate, and the diagnosis and treatment process is often protracted and costly. There is an urgent need for more effective treatment options at lower costs.

And microinno has undoubtedly recognized the aforementioned pain points.

“microinno is a platform enterprise dedicated to the innovative product development across the entire spectrum of women’s reproductive health, encompassing screening, diagnosis, treatment, rehabilitation, and medical aesthetics.”Zhang Yang, CEO of microinno, mentioned.

microinno, aiming to create a comprehensive solution for women's health, has built an innovative platform to better address the unique characteristics of diagnosing and treating female diseases. By integrating products and functionalities, the platform helps physicians reduce the burden of equipment use and better supports the screening, diagnosis, and treatment of female patients.

For example, in the field of cervical diagnosis and treatment, traditional early screening for cervical cancer has faced challenges such as prolonged processing times, extremely high rates of missed and misdiagnoses, bulky equipment, cumbersome operations, and low levels of automation in diagnostic techniques. In contrast, microinno utilizes fluorescence imaging and Narrow Band Imaging (NBI) to screen for precancerous cervical lesions within a short timeframe, achieving exceptionally high accuracy. Furthermore, by integrating photodynamic therapy technology, it enables non-invasive, integrated early diagnosis and treatment, along with real-time monitoring of therapeutic efficacy.

In the field of hysteroscopic diagnosis and treatment, microinno has developed an "ultra-minimally invasive" see-and-treat surgical solution for outpatient day surgery centers. By applying an ultra-thin disposable hysteroscopic diagnosis and treatment system to replace both diagnostic and operative hysteroscopes, it achieves true "ultra-minimally invasive" see-and-treat procedures.

For hospitals, microinno’s innovative device platform enables on-demand equipment procurement, significantly reducing capital investment, maintenance, and management costs. For physicians, microinno further streamlines operational workflows without altering clinical practices, providing a more convenient set of tools. For patients, it balances therapeutic benefits with reduced treatment costs.

Zhang Yang pointed out that building an innovative medical device platform in the field of women's health may not be as easy as imagined.

On the one hand, developing innovative products often demands robust technical capabilities from a company. The creation of an innovative product typically involves mastery of technologies related to consumables, equipment, software, optics, and electronics; furthermore, building an innovative platform entails comprehensive command of relevant medical and engineering technologies.

On the other hand, transitioning from “domestic substitution” to “domestic innovation” is an even more daunting challenge. In the past, medical device companies reaped the benefits of the era through domestic substitution. However, given the significant differences between foreign healthcare ecosystems and China’s, many European and American products are ill-suited for the Chinese market. In the absence of precedents to draw upon, how to develop innovative products tailored to China has become a critical question facing numerous innovative enterprises.

Ultimately, it hinges on whether a company truly possesses innovative capabilities.

For Zhang Yang, one of microinno’s key strengths lies in its team. Currently, microinno boasts a team of nearly 30 members, covering diverse areas including product R&D, regulatory submissions, quality management, and channel sales.Its team members are all seasoned professionals with 15–20 years of in-depth experience in the healthcare industry, having worked at companies such as Medtronic, Johnson & Johnson, Hologic, and Tigermed.Moreover, most members of the microinno team are well-acquainted with one another, demonstrating strong team cohesion.

Zhang Yang, CEO of microinno, brings 18 years of experience in medical device R&D and multinational corporate management.He holds a master’s degree from Shanghai Jiao Tong University and pursued advanced studies in corporate innovation management at Stanford University in the United States. He has served as General Manager of the Surgical Business Unit at Shanghai MicroPort Group, Asia-Pacific R&D Director at Becton, Dickinson and Company (BD), Senior R&D Manager at Medtronic, and Lead Design Engineer at Johnson & Johnson. He spearheaded the design and development of products including Medtronic’s microwave ablation system, BD’s large-volume IV catheters, Johnson & Johnson’s ETHICON staplers, and MicroPort’s ECMO systems.

Meanwhile, Jinding Capital, the lead investor in this funding round, possesses substantial industrial and physician resources. It will further support microinno’s product R&D and clinical applications. Following the completion of this financing round, microinno will accelerate the regulatory approval process for its products, attract top-tier talent to join its team, and maintain its competitive edge in the women’s health sector.

microinno CEO Zhang YangHe stated, “The greatest joy on the entrepreneurial journey lies in achieving feats beyond individual capability alongside a team of like-minded and highly talented partners, working together to solve every challenge we encounter. The success of our venture and the companionship of these partners are the greatest rewards along this path. Microinno boasts a top-tier design and development team dedicated to creating products that fit China’s medical ecosystem, meet clinical needs, and deliver high commercial value. On this foundation, we aim to build a leading, full-platform medical device company in the field of women’s health in China. I believe that with the addition of like-minded partners such as Jinding and Taiyu, this goal will soon become a reality.”

Liu Yang, Founding Partner of Jinding CapitalIt stated: “Women’s health represents a large, high-potential market characterized by strong purchasing power and significant unmet needs. Gynecology is a typical example of a ‘small department serving a large population’ with substantial room for growth. The future development of gynecological devices aligns with the trend toward integrated diagnosis and treatment. The microinno team possesses a strong professional background in medical devices and a robust R&D heritage. We believe that under the leadership of founder Mr. Zhang Yang, the microinno team can become an innovative disruptor in the field of gynecology.”

Dr. Ji Tianrong, Founder of Taiyu InvestmentHe stated, “There is a significant unmet clinical need in women’s health, particularly a lack of innovative medical devices for underlying and common conditions. Microinno brings together outstanding physicians, R&D professionals, and corporate managers, possessing the capability to develop medical device products for comprehensive scenarios in women’s health, covering screening, diagnosis, treatment, rehabilitation, and medical aesthetics. This approach can help physicians and patients improve efficiency and reduce costs, enabling the diagnosis and treatment of multiple diseases on a universal platform. It is an honor to collaborate with such a capable, enterprising, and visionary team. We look forward to Microinno rapidly bringing its products to clinical practice and the market, thereby delivering greater benefits to women worldwide.”

Jinding Capital, established in 2014, is a corporate venture capital (CVC) firm specializing in industrial investment. With cumulative fund sizes approaching RMB 10 billion, the firm has long focused on three core sectors: healthcare, consumer goods, and technology, having invested in over 80 startups to date. In the healthcare industry, Jinding strategically focuses on consumer healthcare, serious medical care, and life sciences. By deeply engaging with the industry and adhering to an independent investment approach characterized by leading and significant investments, Jinding upholds the principles of pragmatic excellence and radical candor. Embodying the entrepreneurial spirit of the real economy, the firm partners with outstanding enterprises to support their journey toward building exceptional businesses.

Taiyu Investment, established in 2014, is an independent venture capital firm under Tigermed. Taiyu Investment focuses on equity investments in the healthcare sector at early and growth stages. Its management team boasts extensive industry background, broad industry resources, and rich investment experience. To date, it has completed investments totaling RMB 2 billion across more than 100 projects, with a portfolio covering medical devices, biopharmaceuticals, CROs, and health supplements. By empowering its portfolio companies, Taiyu Investment creates value for the development of the healthcare industry in China and globally, contributing to public health.