JuYi Technology Secures Over RMB 100 Million in Series B+ Financing to Advance Medical Device CDMO Business

VCBeat learned at the earliest opportunity that,Juyi Science and Technology (Shanghai) Co., Ltd.(hereinafter referred to as“joymed”) announced the completionOver 100 Million YuanRMBB+WheelFinancing, this round of financing was led byFunds Under CICC CapitalLead Investor, Existing ShareholdersLegend Capital, Yuansheng Venture CapitalJoint Co-investment. This round of financing will help joymed further improve its medical devicesCDMO’s capabilities across a broader range of product areas, its service footprint in China and abroad, and the further growth of related businesses.

joymed is a leading domestic CDMO technical services and productization solutions platform for medical devices, dedicated to providing global medical device and biopharmaceutical companies, as well as clinical institutions, with a comprehensive suite of contracted R&D, regulatory registration, clinical trial, and contract manufacturing services. Its service scope covers the entire lifecycle, from innovative concept generation and technological research, product development, and supply chain management to contract manufacturing, clinical trials, regulatory registration, and post-market services.

Joymed has established state-of-the-art R&D service centers, testing laboratories, and production service bases for Class I/II/III active medical devices and sterile consumables in Shanghai, Suzhou, Changsha, and other regions. The company boasts a dedicated multidisciplinary R&D team and has jointly established a technology R&D laboratory with the Hangzhou Graduate School of Xidian University. Recently, Joymed fully acquired Jiangsu Airuis Medical, further enhancing its CDMO technical service capabilities in the areas of interventional and basic sterile consumable products, while also making in-depth strategic investments and practical advancements in the emerging field of digital therapeutics CDMO services.

The company’s R&D and engineering technical service teams currently comprise over 250 professionals. It is providing in-depth CDMO services and productization solutions to more than 50 leading domestic and international enterprises, including key players in niche markets, across areas such as drug delivery, cardiovascular and oncology therapeutic devices, interventional consumables, diagnostics and life sciences, respiratory care, rehabilitation, medical aesthetics, and other emerging product sectors.

In recent years, the domestic medical device CDMO industry has developed rapidly. A number of CDMO enterprises in various niche sectors are continuously growing, emerging, and empowering the development of the medical device industry, demonstrating significant potential for industrial growth. Joymed is one of the few technical platforms in China capable of providing systematic and integrated professional CDMO services and product solutions across multiple niche segments. It has accumulated extensive common technology platforms, standards, R&D experience, and commercialization systems in diverse technological directions, supporting the R&D and industrialization of multiple innovative medical devices that are leading both internationally and domestically.

Regarding securing this round of financing,joymedjoymed stated that its goal is to grow into an international technical platform for the productization of medical devices, empowering medical device and biopharmaceutical companies, as well as clinical and research institutions. By continuously developing innovative and reliable medical device technologies and products, joymed aims to grow alongside its customers and promote the development of China’s medical device CDMO industry. Amid the ongoing pandemic, the company expresses its sincere gratitude to its customer partners, CICC Capital, Legend Capital, Yuansheng Venture Capital, all existing shareholders, employees, and upstream and downstream partners for their support, which has provided greater momentum for the development of the joymed CDMO platform. Following the completion of this round of financing, joymed will further strengthen the expansion of its multi-product technology platforms and enhance its service and productization systems. The company will gradually expand into overseas markets, remain customer-centric, work more closely with its clients, and bring more innovative medical device products to global clinical applications, thereby benefiting patients.

Mr. Zhong Xian, Managing Director of CICC Capitalstated: “The medical device CDMO industry has flourished following the liberalization of the ‘Medical Device Registrant System,’ providing support for the R&D and commercialization of medical devices for global medical device companies, biopharmaceutical enterprises, and research institutions. This industry is still in its early stages of development in China, with substantial overall market potential. Joymed is a leading domestic platform for technical services and commercialization solutions in the medical device CDMO sector. It boasts strong capabilities in product R&D, regulatory registration, and manufacturing, while placing significant emphasis on intellectual property protection, with its comprehensive service system well-aligned with customer needs. The Joymed team has deep expertise in the medical device CDMO field, demonstrating strong execution and cohesion. It has initially established technical service and commercialization capabilities across multiple niche segments of medical devices, emerging as a benchmark enterprise in this sector. Shanghai CCI Investment Co., Ltd. remains optimistic about the medical device CDMO sector and believes that, with capital support, Joymed will accelerate its development, empower more innovative medical device products to reach the market faster, and drive the growth of China’s medical device and CDMO industries.”

Mr. Wang Jianfei, Partner at Legend Capitalstated: “Competition in the medical device industry is intensifying. Under pressure from cost constraints and time-to-market demands, specialized division of labor has become a clear trend. The CDMO model features both high R&D barriers and the characteristic of sustained orders during the production phase, while domestic supply remains relatively scarce. Joymed boasts a comprehensive technical system, standardized operational management, and compliance with international standards, having gained recognition from numerous domestic and overseas clients. As many clients’ products entrusted for R&D reach the market and enter continuous mass production, the company’s orders and revenue have entered a period of rapid growth. The core team members all possess over 10 years of extensive industry experience at medical device manufacturers and international CDMO enterprises, demonstrating strong execution capabilities. Legend Capital will continue to support Joymed’s rapid development by optimizing its corporate development strategy, providing management and operational support, and facilitating industrial cooperation and linkages.”

Mr. Gu Leimin, Partner at Yuansheng CapitalIt stated: “With the gradual implementation of the Marketing Authorization Holder (MAH) system since 2017, the development potential for innovative medical devices in China has been further unlocked, creating an urgent market demand for professional CDMO enterprises with R&D and manufacturing capabilities. Meanwhile, we observe the localization needs of multinational medical device companies in China and the trend of pharmaceutical companies expanding into the medical device sector, indicating huge future market space for China’s medical device CDMO industry. As a leading domestic CDMO enterprise specializing in medical device R&D and manufacturing, Joymed boasts a team with years of experience in multinational medical device and CDMO companies, demonstrating significant advantages in industry resource integration and technology. Its professional services have been highly recognized by renowned multinational corporations and domestic listed companies. ‘The giant dragon ventures across the nine provinces, admiring pure virtue and diligent dedication.’ We believe that through continuous effort and improvement, Joymed will inevitably empower more innovative medical device enterprises both domestically and internationally, facilitating the transformation and upgrading of China’s medical device industry.”

CICC Capital Management Co., Ltd. (“CICC Capital”) is a wholly-owned private investment management subsidiary of China International Capital Corporation Limited (“CICC”). As CICC’s operational platform for private fund business, it centrally manages CICC’s onshore and offshore private investment fund operations and has grown into one of China’s leading private investment management institutions. Currently, the funds managed by CICC Capital cover RMB corporate equity investment funds, funds of funds (FOFs), real estate funds, infrastructure funds, and USD corporate equity investment funds.

Legend Capital, established in April 2001, is a fund management company under Legend Holdings Corporation, specializing in early-stage venture capital and growth-stage private equity investments. Over the past two decades, Legend Capital has adhered to international standards, created best practices in fund operations and management, accumulated comprehensive experience in these areas, and built an ecosystem-based collaborative network across the entire investment value chain. Through its proactive value-added service system, Legend Capital drives innovative corporate growth, consistently delivering strong investment returns across multiple sectors while promoting industrial advancement and social development in China.

Legend Capital envisions becoming an investment firm with international influence, upholds the core value of “Wealth with Integrity,” and actively fulfills its social responsibilities. Since 2007, Legend Capital has been strategically investing in the healthcare sector, establishing a systematic presence in the CRO/CDMO space. In this field, it has invested in numerous CRO/CDMO companies specializing in the research and development of new drugs and medical devices.

Yuansheng Venture Capital is an investment firm focused on the early and growth stages of the healthcare sector, headquartered in Suzhou BioBAY with a global reach. To date, it has invested in over 140 outstanding companies in the life and health sectors, covering four key areas: novel drug development, medical devices, in vitro diagnostics and precision medicine, as well as healthcare services. The firm has achieved substantial investment returns, with 14 of its portfolio companies having listed on capital markets such as the Hong Kong Stock Exchange and the STAR Market. Yuansheng Venture Capital has been repeatedly ranked among the Top 10 venture capital funds in China’s healthcare sector and recognized as one of the most active healthcare investment institutions in China. By bringing together seasoned professional investors and a team of world-class scientific advisors, Yuansheng Venture Capital possesses extensive experience in entrepreneurship, venture capital, and corporate operations within the biopharmaceutical industry and beyond. Leveraging its professionalism, focus, and abundant industry resources, the firm is committed to becoming one of the most successful healthcare and pharmaceutical venture capital funds in China.