BiTech Medical Completes Tens of Millions RMB Angel Funding to Advance Multi-Scenario Clinical Applications of Biomaterials

Hangzhou BitaiBiomedical Technology Co., Ltd.(hereinafter referred to as“Bitai Medical”) recently announced the completion of a RMB 10 million financing roundAngelround of financing. This roundThe financing was led by Zhejiang University Innovation Technology Research Institute Co., Ltd. (hereinafter referred to as "ZJU Innovation Institute"), through a market-oriented investment fund established by it.-- Hangzhou Youchuang Yuruilin Zhuo Angel Equity Investment, Hangzhou New Vision Yuxiu Jiuzhi Equity InvestmentIn collaboration with Hangzhou Taiwanjing Enterprise Management Partnership（Limited Partnership）(hereinafter referred to as “Taiwanjing”) jointly invested and completed.This round of financing will be used to accelerate the clinical trials and industrialization of the company’s existing products related to tumor spacing protection materials, while also driving the company’sBiomedicine in Tumor Radiotherapy and Other Clinical ScenariosMaterialsofComprehensive Layout.

Against the dual backdrop of China ranking first globally in both new cancer cases and cancer-related deaths, and the goals outlined in the “Healthy China 2030” Planning Outline, “precision medicine”—which leverages technological advancements to enable personalized, precise treatment and significantly enhance the efficacy of disease diagnosis, treatment, and prevention—has garnered unprecedented attention. Among common cancer treatments, radiotherapy has seen rapid growth due to its proven efficacy, reliability, and broad applicability. However, radiation-induced damage to normal tissues surrounding the tumor site limits further escalation of radiation doses, substantially compromising therapeutic outcomes. In response, the concept of “radiotherapy protection spacers” has emerged.

Hydrogel materials are considered the most ideal spacer materials at present due to their customizable structural design, excellent biocompatibility, injectability, and degradability. However, there is a market gap for domestically produced hydrogel spacer materials in China that urgently needs to be filled, and domestic products currently in clinical trials lag behind their foreign counterparts in performance.

Biotai Medical, established in 2022, leverages a joint medical-engineering translation platform affiliated with renowned universities and multiple Grade-A tertiary hospitals in Zhejiang Province. Working closely with clinical experts to address significant unmet clinical needs, and capitalizing on the team’s technical expertise in materials science, the company focuses on the research, development, and production of medical hydrogels and biomaterials. It has pioneered globally a biomaterial R&D platform based on “multimodal imaging” and a combined technology suite of “spacing protection–controlled drug release–monitorability.” Independently designed and developed, its next-generation radiotherapy spacing materials feature injectability, rapid in situ formation, precise positioning, long-term imaging visibility, and personalized controllable degradation, thereby serving the global market and filling a domestic gap. The core team comprises senior academic experts, leading clinicians, and seasoned professionals from the medical device manufacturing industry.

Bitai Medical’s independently developed first tumor radiotherapy protection product featuring “spacer protection–multimodal imaging–precise degradation”—the Prostate Cancer Radiotherapy Protection Gel (Hydrogel Rectal Spacer)—leverages core technologies such as double interpenetrating network formulation design and contrast agent molecular structure design, thoroughly surpassing the first FDA-approved hydrogel rectal spacer, the U.S.-made Space OAR.^TMThe radiotherapy spacer gel product has overcome technical bottlenecks such as the lack of personalized customization capabilities, the prominent contradiction between “spacing protection and controlled degradation,” and the absence of long-term imaging visibility throughout its full lifecycle, thereby thoroughly achieving domestic substitution and upgrading of imported medical devices. Currently, the product has completed laboratory development, finishing the first half of the “medical-engineering collaboration,” and will subsequently initiate work such as clinical registration applications.

Biotai Medical has developed a new generation of injectable radiotherapy protection spacer material that features rapid in situ formation, precise positioning/monitoring, and precisely controllable degradation. This innovation breaks through the technical bottleneck limiting radiation dose escalation, enabling the precise customization of spacer materials for radiotherapy protection. The team’s mastered technological capabilities have endowed its core product with unique originality on a global scale. The company’s flagship tumor radiotherapy protection product is expected to complete radiotherapy courses in a shorter timeframe and with fewer sessions, thereby enhancing the biological effectiveness of tumor radiotherapy for superior therapeutic outcomes while reducing toxic side effects. It even holds the potential to drive breakthrough advancements across the entire field of oncological radiotherapy.

The investor responsible for the project at Zhejiang University Innovation InstituteStatement: As the primary platform for investment and commercialization of scientific and technological achievements in healthcare under Zhejiang University Holdings, the Zhejiang University Innovation Institute is committed to supporting the translation and commercial development of research outcomes from professors across the Zhejiang University network, ZJU alumni, and clinicians. In the field of high-end medical devices, we prioritize high-value consumable projects driven by clinical-medical engineering translation, with biomedical materials remaining a key area of focus. Bitai Medical has collaborated with clinical experts for many years, targeting the market gap for domestically produced hydrogel spacer materials—a significant opportunity ripe for development. The company has continuously developed multiple globally leading, independently owned platform technologies and related products, with product performance thoroughly validated. The project team comprises materials scientists, clinicians, and commercialization specialists, fostering collaborative innovation from laboratory R&D through preclinical application to enterprise-level technology translation. This effort holds substantial significance for China in breaking foreign technological blockades and overcoming bottlenecks in high-precision, advanced technologies within this field. The Innovation Institute is pleased to serve as the lead investor in Bitai Medical’s angel financing round. Moving forward, the Zhejiang University Innovation Institute will integrate additional relevant resources and leverage Bitai Medical’s technological advantages to expand application scenarios and support the company’s continued growth.

Managing Partner of TaiwanjingStatement: Bitai Medical possesses a leading, domestically developed R&D platform for biomaterials and has assembled a research team with over a decade of experience in developing biomedical materials. By vigorously advancing high-performance, high-value medical materials such as personalized therapeutic agents, the company benefits from strong clinical recognition, a robust R&D pipeline, and significant technical barriers. In this equity partnership, Taiwanjing is honored to participate in Bitai Medical’s endeavors. This collaboration stems from the complete trust placed by Taiwanjing Fund’s founding team—as existing shareholders making follow-on investments—in Bitai’s projects and products. Leveraging the “Wenyuan Biology” industrial incubation platform established by the founding team in Hangzhou, Taiwanjing will actively provide support for both domestic and overseas clinical studies. We are confident that Bitai Medical will develop more innovative medical devices in the near future.

As the medical and health sci-tech innovation platform under Zhejiang University Holdings, we remain steadfast in our mission to “gather high-end resources, build a sci-tech innovation platform, and cultivate high-growth technology enterprises.” Internally, we collaborate with outstanding research teams and scientific achievements from the broader Zhejiang University network. Externally, we align with the trends of technological innovation, respond to market demands, and strengthen collaborative partnerships with relevant entities within the sci-tech industrial sector of Zhejiang University Holdings Group. We have incubated and invested in a portfolio of high-potential technology enterprises, leveraging technological innovation to serve society and benefit the public.Hangzhou Youchuang Yurui Linzhuo Angel Equity Investment Fund is an angel investment fund established jointly by the Zhejiang University Innovation Institute and the Linping District Government, focusing on early-stage angel investments in fields related to biomedicine.Hangzhou New Vision Yuxiu Jiuzhi Equity Investment Fund is an investment platform dedicated to early-stage projects of Zhejiang University, jointly established by the Zhejiang University Innovation Institute, Zijin Gang Capital, Zhejiang University Jiuzhi, and Hangzhou Cultural Investment Group.

Zijin Gang Capital was established in 2014. Its main sponsors each have an average of around 20 years of experience in investment and corporate management, along with strong engineering and technical backgrounds, forming a team of value-added investment managers. The Zijin Gang team advocates for an international perspective and currently focuses on global hard-tech investments through Hong Kong-based funds. The company manages funds totaling RMB 5 billion, with investment areas covering integrated circuits, intelligent manufacturing, healthcare, new materials, TMT, artificial intelligence, and more.

Taiwanjing is a private equity firm rooted in the Yangtze River Delta, focusing on pharmaceuticals and biotechnology, innovative medical devices, digital health, and digital therapeutics. Its investment scope covers all stages of corporate development, guided by the philosophy of “investing early and investing in innovation.”