Pulimeng Secures Nearly RMB 200 Million in Series B Funding to Accelerate Layout of Biodegradable Polymer Medical Device Industry Chain

VCBeat has learned that Nanjing Polymer Medical Technology Co., Ltd. (“Polymer”) recently completed a Series B financing round of nearly RMB 200 million. The round was led by SDIC Chuanghe, with participation from Huatai Zijin, New Industry Industrial Investment, Nanjing Venture Capital, Southeast Meida, and Shuangchuang Shares. Existing investors Alwin Investment and Rongzhen Investment made additional investments. Qushi Capital served as the exclusive financial advisor.

Founded in 2016, Nanjing Polymer Medical Technology Co., Ltd. is a product R&D company specializing in medical-grade absorbable polymer materials, serving as a platform enterprise for the cross-disciplinary application of materials science and clinical medicine. The company has established two key technological platforms: engineered preparation of degradable polymer raw materials and personalized processing of degradable medical device products, thereby achieving independent control over underlying materials and processes for medical devices. Based on a deep understanding of clinical needs and leveraging degradable polymer materials, the company has developed a product pipeline encompassing “medical consumables + consumer aesthetic medicine.”

In terms of medical consumables,Aligning with the trend toward minimally invasive surgical sutures, Nanjing Polymer Medical Technology Co., Ltd. has launched a series of high-end surgical sutures, including absorbable knotless barbed sutures, anti-leakage vascular sutures, and fast-absorbing barbed sutures. Meanwhile, addressing clinical needs in general surgery, neurosurgery, thoracic surgery, and other specialties, the company is further expanding its product portfolio based on its existing specialized suture lines. A range of absorbable products, such as absorbable hemostatic clips and absorbable cranial locks, are poised for regulatory approval, facilitating broader deployment in benchmark hospitals and departments.

Polymon’s barbed suture products are manufactured from poly-p-dioxanone (PPDO) polymer materials using specialized processing techniques. Featuring 360-degree spiral barbed cutting, these sutures have a degradation cycle of approximately 180 days and eliminate the need for knot tying during suturing, thereby simplifying minimally invasive surgical procedures and significantly reducing suturing time. In collaboration with the Polymer Materials Laboratory at Sichuan University, Polymon continuously optimizes barbed design, cutting, and spinning processes, while achieving breakthroughs in the synthesis and preparation of base raw materials. Currently, this product line stands as the flagship offering among Polymon’s commercialized products.

Meanwhile, Nanjing Polymer Medical Technology Co., Ltd. has developed a series of specialized sutures tailored to the needs of various clinical surgical scenarios. Among these, its fast-absorbing specialized sutures (PGA-PCL) and non-absorbable surgical sutures (PP vascular sutures) have already received regulatory approval, while its barbed sutures, which present higher technical barriers, have been submitted for type testing. Nanjing Polymer is expected to become the second company globally, after Johnson & Johnson, to master the technology and manufacturing processes for barbed sutures.

Key Commercialized Products of Polymer Medical

In the consumer medical aesthetics sector, Polymer’s PLLA “Baby Face” injection product has completed clinical trials. Partial experimental data indicate that Polymer’s PLLA microspheres feature smooth surfaces, intact structures, and high intrinsic viscosity, thereby delivering superior regenerative effects. Furthermore, the company’s recombinant collagen dressing products have achieved commercialization, while its PPDO facial thread lift products have initiated clinical trials. Leveraging its extensive technological expertise in biodegradable materials, Polymer will continue to expand its footprint in the medical aesthetics market.

Dr. Liu Ping, General Manager of Nanjing Polymer Medical Technology Co., Ltd.stated: “This round of financing will be primarily used for R&D investment, marketing, channel development, and capacity expansion across multiple products in the segments of general surgery, neurosurgery, and medical aesthetics. Meanwhile, Polymer Medical will continue to deepen its collaboration with top-tier national research institutions such as the Polymer Materials Center of Sichuan University, focusing on technological advancement and continuous innovation and iteration on its biodegradable polymer platform. By forging in-depth partnerships with industry resources, completing deployments in more benchmark hospitals, and further building product portfolios around clinical departments, the company is committed to becoming a leader in this field.””

SDIC Chuanghe Biopharmaceutical Teamstated: “We are optimistic about the innovative applications and market prospects of materials science in the medical device sector. The Polymer Medical team possesses extensive clinical experience and strong execution capabilities. Building on absorbable materials, the company has developed a diverse product portfolio spanning surgery, neurosurgery, and medical aesthetics. SDIC Chuanghe will fully leverage its industrial ecosystem resources to support Polymer Medical’s continuous independent innovation, establishing a leading and comprehensive product lineup of absorbable surgical devices and upstream materials, thereby becoming a leading Chinese brand in this field.””

Dr. Chen Miao, Partner at Huatai Zijin Healthcare FundNanjing Polymer Medical Technology Co., Ltd. stated: “Leveraging its integrated platform for the synthesis, R&D, and production of biodegradable polymer materials, the company has developed a series of absorbable medical devices and related products. Its robust product pipeline spans multiple fields, including general surgery, neurosurgery, and medical aesthetics. Notably, it was among the first in China to lay out a portfolio of innovative absorbable products, such as absorbable sutures, absorbable hemostatic clips, absorbable cranial fixation systems, and poly-L-lactic acid (PLLA) dermal fillers (commonly known as ‘Youth Restoration Injections’). The performance of these products benchmarks against comparable foreign counterparts, demonstrating a clear first-mover advantage. The company has achieved significant progress in biodegradable medical-grade polymers, showcasing substantial growth potential and positioning itself to become a leading domestic enterprise in innovative biodegradable medical devices.””

Zuo Xiangyuan, Investment Director of New Industry Industrial Investmentstated: “Leveraging its foundation in materials science, Nanjing Polymer Medical Technology Co., Ltd. entered the market through surgical sutures and medical aesthetic products. Drawing on the team’s profound understanding of clinical practice and market dynamics, the company has expanded its product portfolio to cover multiple departments, including general surgery, neurosurgery, and thoracic surgery, with performance benchmarks comparable to those of international medical giants. We are pleased to invest in and support the development of Nanjing Polymer Medical Technology Co., Ltd., and will further promote deeper industrial synergy to facilitate the company’s growth.””

Lin Sibo, Executive Director of Alwin Investmentstated: “Alwin has continuously invested in Polymer Medical since its Series A round. We are optimistic about the company’s ability to leverage its foundation in materials science, extensive surgical experience, and deep understanding of clinical needs to consistently develop high-quality, robust products. By becoming a platform enterprise in the field of medical-engineering integration, it aims to transition from domestic substitution to indigenous innovation in both key raw materials and end products.””

SDIC Chuanghe is a professional fund-of-funds and industrial fund management institution under the State Development & Investment Corp. (SDIC) Group. It currently manages multiple national-level funds, regional industrial funds, and market-oriented funds, with directly managed assets exceeding RMB 40 billion. Focusing on equity investment, venture capital, and fund investments in strategic emerging industries, SDIC Chuanghe has over 150 direct investment projects under management and holds stakes in approximately 200 funds. It has cumulatively supported more than 3,000 innovative technology enterprises, over 200 of which have gone public, making it the leading fund-of-funds management institution in China in terms of the number of venture capital teams supported and the breadth of industry coverage. Under the advocacy of the National Development and Reform Commission (NDRC), SDIC Chuanghe took the lead in establishing the China Venture Capital Service Alliance for Artificial Intelligence, Innovative Biopharmaceuticals, New Materials, and Cybersecurity. As a council member, vice-presidential unit, and co-chairman unit of the Fund of Funds Committee of the Asset Management Association of China (AMAC), SDIC Chuanghe contributes to improving the investment ecosystem, promoting the deep integration of innovation chains, industrial chains, capital chains, and talent chains, and accelerating the high-quality development of emerging industries.

Alwin Investment is a venture capital fund focused on the frontiers of China’s life sciences sector. Driven by professional research and anchored in clinical needs, Alwin Investment concentrates on cutting-edge innovative technologies within life sciences, investing in genuine medical translation opportunities. By adhering to a systematic mapping of scientific trajectories and integrating mature portfolio management practices, Alwin Investment has established a highly forward-looking and systematic investment footprint in China’s life sciences industry in recent years, nurturing key leading companies across multiple innovation-driven subsectors. Furthermore, Alwin Investment has built a significant corporate ecosystem at the forefront of life sciences. From vertical integration along the upstream and downstream value chains to the cross-disciplinary expansion of multi-platform technologies, Alwin Investment has developed comprehensive and profound competitive advantages in deal sourcing, portfolio construction, and post-investment value creation.

Huatai Zijin is a wholly-owned subsidiary of Huatai Securities (601688.SH) engaged in private equity investment. Leveraging the full business chain advantages of Huatai Securities and adhering to the investment philosophy of “growing together with entrepreneurs,” it provides comprehensive capital services to partners by virtue of its abundant financial and industrial resources. The company has a registered capital of RMB 6 billion and assets under management nearing RMB 60 billion, with a portfolio comprising PE, M&A, FOF, and industry-specific funds. Huatai Zijin maintains a clear industry focus, basing its operations on robust industry research and cultivating deep expertise and resources in strategic emerging sectors such as healthcare and TMT.

As the market-oriented fund investment platform of Nanjing New Industry Group, a municipal state-owned enterprise, Xin Gong Chan Tou focuses its investment layout on national strategic emerging industries and the group’s three core industrial sectors: “medical health, high-end equipment manufacturing, and new materials.” With nearly RMB 5 billion in assets under management, the company leverages the group’s industrial resources and its team’s extensive investment management experience to provide portfolio companies with comprehensive, diversified value-added services, empowering their growth.

Nanjing Innovation Investment Group, with a registered capital of RMB 5 billion, was jointly established in May 2018 by Nanjing Zijin Investment Group, XinGong Group, Urban Construction Group, and Southeast Group. It serves as a key investment platform for Nanjing’s initiative to build itself into an innovative city. The Group integrates and aggregates various municipal-level resources, funds, and platforms focused on technological innovation and industrial development. Currently, it manages government-guided funds totaling nearly RMB 20 billion, including the Nanjing Emerging Industry Development Fund, the Nanjing Municipal Technological Innovation Fund, and the Nanjing Municipal Talent Innovation and Entrepreneurship Fund.

Shanghai Rongzhen Investment Group Co., Ltd. specializes in three core business sectors: financial investment, real estate investment, and cultural investment. The company has been recognized as a “Shanghai Youth Civilized Unit” and a “Civilized Unit of Hongkou District.” For ten consecutive years, it has received the “Shanghai Contract-Abiding and Creditworthy Enterprise” award and the title of “AAA-Rated Enterprise for Contract Creditworthiness in Shanghai.” Additionally, it has repeatedly won the “Outstanding Contribution Award for Key Enterprises of the Year” and the “Most Socially Responsible Enterprise Award” presented by the National Council of Zhejiang Entrepreneurs.

Nanjing Southeast Meida Emerging Industry Venture Capital Fund was primarily established with capital contributions from state-owned entities, including Sumec Capital, Nanjing Southeast Group, and Nanjing Jiangbei Industrial Investment. The fund mainly invests in growth-stage and mature-stage projects in strategic emerging industries such as next-generation information technology, biopharmaceuticals, intelligent manufacturing, energy conservation and environmental protection, new energy, and new materials.

Jiangsu Shuangchuang Talent United Co., Ltd. was jointly established in 2017 by Bank of Jiangsu, Jiangsu Industrial Technology Research Institute, and more than twenty national- and provincial-level high-caliber talents. The company focuses on serving China’s two major strategies of “Urban Innovation” and “Rural Revitalization,” with core businesses in technical services, asset operation, and investment incubation. It serves and empowers technology-driven talent enterprises, facilitating regional industry cultivation and high-quality local economic development.

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