Pulimeng Secures Nearly RMB 100 Million in New Financing, Leading China's Market in Knotless Barbed Suture Segment

VCBeat has learned that Nanjing Polymer Medical Technology Co., Ltd. (hereinafter referred to as “Polymer”) recently completed a new round of financing nearing RMB 100 million. This round was led by Alwin Investment, with participation from Rongzhen Investment, and Qushi Capital served as the exclusive financial advisor.

Building on its R&D capabilities in biodegradable materials, Nanjing Polymer Medical Technology Co., Ltd. has continuously expanded its product pipeline in the areas of medical consumables and consumer aesthetic medicine. The company has obtained two Class III medical device registration certificates, eleven Class II registration certificates, and five Class I filing certificates, with its core products addressing clear demand and opportunities in their respective niche markets.

In the field of medical consumables, in line with the development trend of sutures for minimally invasive surgery, we have developed and launched absorbable barbed sutures that do not require knot tying. Focusing on related clinical scenarios, we have introduced a series of minimally invasive surgical instruments, including absorbable hemostatic clips and absorbable cranial locks. The disposable electric stapler has obtained regulatory approval and been launched on the market, while a series of specialized sutures are being sequentially developed and commercialized.

In the consumer medical aesthetics sector, recombinant collagen dressings have obtained Class II medical device certification, and the poly-L-lactic acid (PLLA) filler project entered clinical trials in 2021.

PolymerCEODr. Liu PingIt was stated that this round of financing will be primarily used for market promotion and channel development, as well as investment in the R&D pipeline for multiple Class III implantable medical devices, including poly-L-lactic acid facial fillers (“Tongyan Zhen”), absorbable cranial fixation systems, absorbable hemostatic clips, and a series of specialized sutures. Meanwhile, Nanjing Polymer Medical Technology Co., Ltd. will continue to deepen its collaboration with top-tier national research institutions such as the Polymer Materials Research Center of Sichuan University, further strengthen its technological capabilities, and expand its presence in more benchmark hospitals.

Lin Sibo, Executive Director of Alwin InvestmentStatement: Nanjing Polymer Medical Technology Co., Ltd. is a product R&D company specializing in medical-grade absorbable materials, serving as a platform enterprise at the intersection of materials science and clinical medicine. We are optimistic about the company’s ability to leverage its outstanding and robust product development capabilities to continuously create high-quality clinical products that rival or even surpass imported alternatives. Furthermore, with its steady and pragmatic commercialization capabilities, the company is well-positioned to secure a significant foothold in the fields of surgery and medical aesthetics.

Zhang Junqi, Partner and Head of Healthcare at Qushi CapitalNanjing Polymer Medical Technology Co., Ltd. has established a leading R&D platform in China for biodegradable polymer medical devices, mastering core production processes and possessing capabilities in the engineered preparation of polymer raw materials and personalized design. Meanwhile, its founding team, with clinical backgrounds and profound clinical insights, continuously launches high-quality product pipelines in the sectors of medical consumables and consumer aesthetic medicine. These products match the performance of imported counterparts and undergo continuous iteration, thereby sustaining the company’s competitive edge.

Leveraging its inherent strengths and gaining deep insights into clinical and market demands, Nanjing Polymer Medical Technology Co., Ltd. has established an R&D platform for biodegradable polymer medical devices, launched medical consumables such as barbed sutures, and strategically positioned itself in the consumer aesthetic medicine sector with products like poly-L-lactic acid (PLLA) fillers ("baby face injections").

Barbed sutures, also known as knotless barbed sutures, eliminate the need for knot tying throughout the entire suturing process, thereby enabling safer and more rapid wound closure. They are particularly well-suited for laparoscopic suturing, as they reduce the number and frequency of instrument exchanges. In laparoscopic surgery, hemostasis is more challenging to control compared with open surgery; therefore, there is an urgent need for faster and safer suture materials. The introduction of barbed sutures has effectively addressed this challenge.

Pulimon’s barbed suture products are manufactured using the latest generation of international suture material, Poly(p-dioxanone) (PPDO). Through specialized processing and spinning techniques, these monofilament, absorbable, barbed sutures offer significant clinical value. In collaboration with the Polymer Materials Laboratory of Sichuan University, Pulimon has investigated the mechanical model between barbs and tissue, continuously optimizing the design and manufacturing process of the barbs. With global Freedom-to-Operate (FTO) patents, the company is well-positioned to compete in the global market.

Polymer’s absorbable surgical sutures received approval from the National Medical Products Administration (NMPA) in July 2020. Leveraging its proprietary cutting technology, the company offers products with significant quality advantages, which have rapidly gained recognition among clinicians and distributors within a short period. Polymer is poised to quickly emerge as the domestic leader in the field of absorbable surgical sutures, while continuing to expand its minimally invasive device product line to optimize its portfolio. Currently, its products have been adopted by renowned hospitals such as Wuhan Union Hospital, Shanghai Sixth People’s Hospital, Shanghai Chest Hospital, the Affiliated Hospital of Southeast University, and the First Hospital of Jilin University, earning endorsement from industry experts.

In addition, Nanjing Polymer Medical Technology Co., Ltd.’s recombinant collagen dressing obtained Class II medical device registration certification in July 2021. Its “Tongyan Zhen” (youth-restoring injection) product entered clinical trials in October 2021 and is expected to obtain Class III medical device registration certification in 2023.

China’s medical aesthetics market is large, fast-growing, and highly promising. Having largely completed its introductory phase, the market has experienced rapid expansion over the past five years, driven by rising per capita disposable income and evolving consumer preferences. The size of China’s medical aesthetics market reached RMB 245 billion in 2018 and is projected to reach RMB 721.3 billion by 2022, representing a compound annual growth rate (CAGR) of nearly 40%. Among the diverse array of facial filler products, poly-L-lactic acid (PLLA)-based formulations have emerged as new favorites for facial rejuvenation due to their clear advantages, including safety, long-lasting effects, and absence of side effects. Leveraging its recombinant collagen dressings and PLLA-based biostimulatory injectables (“youth-restoring injections”), Nanjing Polymer Medical Technology Co., Ltd. will continue to expand its footprint in the medical aesthetics sector.

Alwin Investment is a venture capital fund focused on the frontier 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 combining it with mature portfolio management, Alwin Investment has established a highly forward-looking and systematic investment layout in China’s life sciences field in recent years, cultivating significant industry-leading companies across multiple innovation-driven subsectors. Meanwhile, Alwin Investment has built a robust corporate ecosystem in the frontier areas of life sciences. From vertical integration along the upstream and downstream value chains to the cross-disciplinary extension of multi-platform technologies, Alwin Investment has developed comprehensive and profound competitive advantages in deal sourcing, portfolio construction, and post-investment value creation.

Shanghai Rongzhen Investment Group Co., Ltd. is a diversified, modern comprehensive enterprise primarily engaged in three core business sectors: financial investment, real estate investment, and cultural investment. The company holds the dual titles of “Brand Enterprise” and “Brand Service” in Shanghai, has been recognized as a “Shanghai Youth Civilization Unit,” and designated as a Civilized Unit in Hongkou District. For ten consecutive years, it has received the “Shanghai Contract-Abiding and Credit-Worthy Enterprise” award and the title of “AAA-Rated Enterprise for Contract Credit in Shanghai.” It has also 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, standing out as an advanced unit in the regional non-public economy. The Rongzhen Investment team has long been dedicated to cross-industry portfolio investment, leveraging its unique insights into real estate, finance, and other fields to identify and cultivate high-quality projects.

Qushi Capital, a subsidiary of Qushi Holding Group, serves as the group’s boutique investment banking arm. It has provided services to dozens of top-tier enterprises, including Haijieya, New羿 Bio (Xinyi Biotechnology), Suosi Medical, Gewu Zhihe, Jinshi Technology, Polymer Medical (Pulimeng), Delaisen, Qichen Medical, Zhongbo Ruikang, Yunyi Medical, Ruijing Biology, Huxiu Technology, Leyan Technology, Hema Coding, and 36Kr Jingzhun. These companies have secured billions in financing from renowned domestic and international funds, with investors including China Reform Holdings, Hillhouse Capital, Sequoia China, Yunfeng Capital, Huachuang Capital, Lanxiang Asia, CMB International, Sinopharm Capital, Boyuan Capital, Lilly Asia Ventures, and Yuanhe Holdings.

Qushi Holdings Group is committed to becoming a premier research-driven holding group. The company’s businesses include boutique investment banking services (Qushi Capital), primary equity investments (Qushi Growth Fund), secondary equity investments (Hongzhou Capital), research services (Qushi Research Institute), and physical industries and incubation (Qushi Industries). The company positions itself as a comprehensive service platform behind China’s top entrepreneurs.