Rongsheng Medical Secures Tens of Millions of Yuan in Series A Funding to Advance Its Platform for Intratumoral Brachytherapy Intervention

VCBeat has learned that Suzhou Rongsheng Medical Technology Co., Ltd. (hereinafter referred to as “Rongsheng Medical”) recently announced the completion of its tens-of-millions-yuan Series A financing round. The round was led by LYZZ Capital, with existing shareholder Qiao Jing Capital participating as a follow-on investor. Dianshi Capital served as the exclusive financial advisor.

Rongsheng Medical, established in 2019, is a platform company dedicated to the field of precision interventional brachytherapy for tumors. Leveraging its radioactive seed-loaded stent technology for internal irradiation, the company has developed a series of stent products tailored to various indications. Currently, its flagship product, the biliary radioactive seed stent, has received certification as an Innovative Medical Device from the National Medical Products Administration (NMPA) and is undergoing the NMPA registration application process.

(Rongsheng Medical's First Product: Biliary Particle Stent）

Multiple studies have demonstrated that tumors can cause stenosis of luminal structures such as the biliary tract, airways, esophagus, and portal vein. Patients who develop luminal stenosis have significantly lower survival rates than those who do not. Therefore, for malignant luminal obstructive tumors, it is essential to alleviate stenosis while treating the tumor itself, thereby extending survival and improving patients’ quality of life. Taking malignant biliary obstruction as an example, the current primary treatment modality is the implantation of biliary stents; however, these stents generally have a limited duration of patency, and the continued growth of the tumor results in an extremely high rate of biliary restenosis.

The biliary stent with radioactive seeds, independently developed by Rongsheng Medical, is an innovative technology for treating malignant biliary obstruction. By combining a self-expanding stent with the implantation of radioactive seeds, it relieves obstruction while inhibiting tumor growth around the stent, thereby reducing the rate of restenosis. A multicenter randomized controlled trial (RCT) involving 328 cases with a one-year follow-up period, along with several other clinical trials, has demonstrated that compared to traditional biliary stents, the biliary stent with radioactive seeds significantly prolongs overall survival and improves the quality of life in patients.

(Biliary particle stents relieve obstruction while inhibiting tumor growth around the stent, thereby reducing the rate of restenosis)

Currently, the company has established in-depth collaborations with domestic and international industry partners, universities, and research institutions, including Micro-Tech Endoscopy, Southeast University, and the Zhishan Ablation Research Institute. The company has built a high-caliber team of dozens of professionals, all of whom possess R&D and management experience from renowned medical device companies both in China and abroad.

The proceeds from this round of financing will be used for product registration and filing, market expansion, and the research and development of pipeline products.

Dr. Yin Huaqing, CEO of Rongsheng Medical, stated, “We are delighted to have gained the recognition of Lize Capital, a renowned professional investment institution, and we extend our gratitude to our existing shareholder, Qiao Jing Capital, for its continued support. The backing from both new and existing shareholders will facilitate the registration and commercialization of Rongsheng’s first product, while the company is also actively expanding its portfolio to include other luminal products.”

Cheng Xiakai, Managing Director of LYZZ Capital, stated: “As a leader in the field of brachytherapy, Rongsheng Medical has achieved leading progress in product development. The company has maintained close collaboration for many years with Zhongda Hospital Southeast University and its Department of Interventional Radiology leadership team. The radioactive seed stent product integrates cutting-edge research and clinical achievements in the interventional field. We look forward to the early market launch of the radioactive seed stent to benefit patients.”

Yu Zhe, Managing Director of Medical Investment at Qiao Jing Capital, stated: “The clinical advantages of the company’s intracavitary brachytherapy approach using particle-loaded stents in the treatment of luminal tumors have been validated. As an angel investor in the company, we remain optimistic about the application of its platform-based intracavitary brachytherapy technology across a broad spectrum of cancers. We look forward to long-term collaboration with the company’s team to deliver more high-quality products to patients.”

LYZZ Capital is a globally leading venture capital and private equity firm dedicated to the healthcare industry. Its currently active funds, comprising both USD and RMB investment vehicles, have an aggregate size exceeding RMB 3 billion equivalent. The founding team of LYZZ has worked together for over a decade, bringing complementary expertise and a strong emphasis on teamwork, with extensive pharmaceutical investment experience both domestically and internationally—including a professional investment track record of more than 15 years in China alone. We invest globally in ventures founded by outstanding entrepreneurs, as well as in high-quality assets and technologies, with a particular focus on addressing unmet medical needs and tapping into the significant market potential in China.

Qiao Jing Capital focuses on early-stage investments in the healthcare and medical industry, with a particular emphasis on medical devices, biopharmaceuticals, and innovative biotechnology. In the field of medical devices, it has strategically invested in high-value consumables companies such as Allgens Medical (688613), Tianzhu Ruichang (aortic stent grafts), Kangfeng Biotech (cryoablation for atrial fibrillation), and Tianhong Shengjie (peripheral vascular intervention). In the biopharmaceutical sector, it has targeted dynamic innovative drug enterprises, including Zhidao Biologics (a protein-based innovative drug R&D platform) and Genfleet Therapeutics (a technology platform for large- and small-molecule drugs). Adhering to value investment driven by clinical needs, Qiao Jing Capital is committed to nurturing new medical technologies, providing superior solutions for clinical practice in China, and advancing the global cause of human healthcare.