Haihe Biopharma Secures Over RMB 100 Million in Series B Financing to Advance Its Full Lifecycle Service Platform for Medical Devices and Pharmaceuticals

VCBeat (WeChat: vcbeat) has learned that Haihe Biopharmaceutical Technology Group Co., Ltd. recently completed a Series B financing round exceeding RMB 100 million. This round was exclusively invested by Legend Capital. The funds raised will be used to further expand testing facilities, develop the contract development and manufacturing organization (CDMO) business for medical devices, and expand the talent team.

Haihe Biologics is a platform-based company specializing in providing full lifecycle product services to research institutions, R&D and manufacturing enterprises, and regulatory authorities in the medical device and pharmaceutical sectors. It holds a prominent industry position in the biopharmaceutical CRO field. Its business portfolio encompasses full lifecycle product services, service-oriented manufacturing, intelligent creation, and third-party testing and certification.

Ms. Hong Xiaoming, founder of Haihe Biology, has dedicated nearly two decades to the industry. She is one of the pioneers in the field of quality system and registration regulatory consulting for medical devices in China, as well as among the earliest entrepreneurs in the private sector providing preclinical testing services for medical devices. Ms. Hong currently serves as a Visiting Professor at the National Medical Products Administration’s Senior Executive Training Institute, Secretary-General of the Third-Party Testing Branch of the China Association for Medical Devices Industry, and Visiting Professor at Shanghai University. She has also been selected as a Tianjin Municipal Scientific and Technical Consulting Expert.

Regarding this round of financing,Ms. Hong Xiaoming, Founder of Haihe Biostated: “Driven by multiple favorable factors, including the post-pandemic economic recovery, the implementation of China’s new Regulations on the Supervision and Administration of Medical Devices, the enforcement of the European Union’s new Medical Device Regulation (MDR), and the impending implementation of the In Vitro Diagnostic Medical Devices Regulation (IVDR), the importance of full-lifecycle services provided by medical device CROs has become increasingly prominent. The entire medical device CRO sector is poised for explosive growth. This round of financing will strengthen Haihe Biology’s cash reserves and positively impact key initiatives such as accelerating technology development, expanding production capacity, and attracting top-tier talent, thereby laying a solid foundation for Haihe Biology’s rapid growth. With over fifteen years of investment experience and strategic positioning in the healthcare sector, Legend Capital possesses deep industrial ecosystem resources and extensive expertise in corporate empowerment. We look forward to collaborating with leading investors in the industry to continue building Haihe Biology into a globally leading full-lifecycle service platform for medical devices.”

Zhou Quan, Managing Director at Legend Capital“It is stated that China’s total output value of medical devices has surpassed RMB 1 trillion, with both the number of newly registered products and their risk classifications rising annually, driving growing market demand for type testing and preclinical animal studies. Meanwhile, global medical device regulatory frameworks are continuously improving and becoming more stringent, imposing higher requirements on device manufacturers’ registration efforts. Against this backdrop, the medical device outsourcing services industry is poised to unlock greater commercial opportunities than ever before. As a full-lifecycle outsourcing service provider for medical devices, Haihe Biology has been deeply engaged in the industry for nearly two decades. Its client base spans numerous multinational corporations, domestically listed companies, and innovative medical device enterprises, establishing it as a leading private institution in China’s medical device testing, inspection, and regulatory consulting sector. Coupled with favorable factors such as the further opening of domestic type testing to private third-party agencies over the past two years and the accelerated global expansion of Chinese enterprises, Haihe Biology is well-positioned to create greater value for its downstream clients, fostering mutual success.”

Legend Capital, established in April 2001, is a fund management firm specializing in early-stage venture capital and growth-stage private equity investments. Over the past two decades, Legend Capital has adhered to international standards, creating best practices in fund operations and management.

Legend Capital drives innovative corporate growth through its proactive value-added service system, consistently delivering strong investment returns across multiple sectors while advancing China’s industrial progress and social development.

Legend Capital, with the vision of “becoming an investment firm with international influence,” upholds the core value of “Prosperity with Integrity” and actively fulfills its social responsibilities.