Revelyx Bio Secures Nearly RMB 100 Million in Series A Financing to Accelerate Development of Global-Leading Hydrogel Technology Platform

VCBeat learned exclusively that in December 2021, Shanghai Ruining Biotechnology Co., Ltd. (hereinafter referred to as “REUNION”), a platform enterprise dedicated to the R&D of innovative medical devices related to medical hydrogels, announced the completion of its Series A financing round, raising nearly RMB 100 million. This round was jointly invested by Qiming Venture Partners, Taiyu Investment, and Deshi Capital. X Partners served as the financial advisor for this financing round.

As an innovative enterprise in the field of medical hydrogels, REUNION is committed to providing systematic clinical solutions for radiation protection during tumor radiotherapy, tumor embolization, wound repair, and anti-tumor drug delivery. Its forward-looking strategic layout, robust R&D capabilities, and efficient operational excellence have garnered favor and recognition from renowned domestic and international investment institutions. The funds from this round of financing will be used to support new product development and advance the clinical trial process of its products.

Dr. Pan Zhen, Founder of REUNION, stated, “We are deeply grateful for the recognition and support from leading professional investment institutions. Adhering to our commitment of being rooted in China while embracing a global perspective, we focus on frontier fields and strive to overcome challenges in advancing the development of innovative medical devices. Over the years, we have dedicated ourselves to the R&D and industrial translation of medical hydrogels, continuously increasing R&D investment and developing innovative device products targeting refractory cancers in China and worldwide. Our aim is to benefit patients by addressing current unmet clinical needs. The company’s growth is inseparable from the concerted efforts of our team and the full support of our investors and shareholders. We are confident in maintaining a strong momentum of rapid development in this field, accelerating the layout of innovative device R&D and the progress of clinical registration for our products, thereby living up to everyone’s expectations.”

Mr. Zhang Ao, Executive Director of Qiming Venture Partners, stated, “First and foremost, congratulations to the company on completing its latest round of financing. We have always supported our portfolio companies in pursuing major innovations and addressing critical medical challenges. Under the leadership of its founder, Dr. Pan Zhen, REUNION has distinguished itself in a highly competitive industry by leveraging globally leading, independently developed technologies to continuously tackle significant clinical challenges. We believe that REUNION will emerge as a pioneer in China’s medical hydrogel and biomaterials sector. Its world-first hydrogel for radiation protection and isolation in cervical cancer radiotherapy has officially initiated registrational clinical trials, and we eagerly anticipate the success of these studies. We hope this round of financing will empower the company to accelerate its growth, bringing more valuable products to benefit a broad patient population as soon as possible.”

Dr. Ji Tianrong, Founder of Taiyu Investment, stated, “The team’s efficient execution is impressive. As an existing shareholder of REUNION, Taiyu Investment was honored to participate in REUNION’s Pre-A financing round and witness the company’s rapid development and remarkable achievements within just a few months. We have increased our investment in REUNION’s Series A financing round and believe that, with new capital support, REUNION will continue to achieve significant breakthroughs in core technologies and product performance, making substantial strides toward becoming an industry leader.”

Mr. Guo Jia, Partner at Deshi Capital, stated, “We are delighted to participate in this round of financing for REUNION. The Chinese biomaterials industry is a field with immense potential. By focusing on clinical needs and leveraging its professional technical team and exceptional execution capabilities, REUNION has continued to achieve significant progress. We look forward to REUNION making its own contributions to the development of biomaterials in China.”

Qiming Venture Partners was established in 2006 and has successively set up offices in Shanghai, Beijing, Suzhou, Hong Kong, Seattle, Boston, and the San Francisco Bay Area. Currently, Qiming Venture Partners manages ten U.S. dollar funds and six RMB funds, with total assets under management reaching US$6.2 billion. Since its inception, the firm has focused on investing in outstanding early-stage and growth-stage companies in industries such as TMT and Healthcare.

To date, Qiming Venture Partners has invested in more than 430 high-growth innovative companies. Among them, over 170 have achieved exits through listings on exchanges such as the New York Stock Exchange (NYSE), NASDAQ, the Hong Kong Stock Exchange (HKEX), the Taipei Exchange (TPEx), the Shanghai Stock Exchange (SSE), and the Shenzhen Stock Exchange (SZSE), as well as through mergers and acquisitions. More than 40 of these portfolio companies have become industry-recognized unicorns and super unicorns.

Among Qiming Venture Partners’ portfolio companies, many have grown into the most influential players in their respective fields, including Xiaomi Corporation (01810.HK), Meituan (03690.HK), Bilibili Inc. (NASDAQ: BILI; 09626.HK), Roborock Technology Co., Ltd. (688169.SH), Gan & Lee Pharmaceuticals (603087.SH), Tigermed (300347.SZ; 03347.HK), Zai Lab Limited (NASDAQ: ZLAB; 09688.HK), Venus Medtech (Hangzhou) Inc. (02500.HK), CanSino Biologics Inc. (688185.SH; 06185.HK), Schrödinger, Inc. (NASDAQ: SDGR), Huitai Medical System Corp. (688617.SH), New Horizon Health Limited (06606.HK), Sanyou Medical Co., Ltd. (688085.SH), Amoy Diagnostics Co., Ltd. (300685.SZ), Berry Genomics Co., Ltd. (000710.SZ), Sinocelltech Group Limited (688520.SH), WeDoctor Group, and UBTECH Robotics.

Taiyu Investment, established in 2014, is an independent venture capital firm under Tigermed. Focusing on equity investments in early-stage and growth-stage companies within the healthcare sector, its management team boasts profound industry expertise, extensive network resources, and rich investment experience. To date, Taiyu Investment has deployed RMB 1.5 billion across nearly 100 projects, with a portfolio spanning medical devices, biopharmaceuticals, contract research organizations (CROs), and health supplements. By empowering its portfolio companies, Taiyu Investment creates value for the development of the healthcare industry in China and globally, contributing to public health.

Des Capital is a specialized private equity investment management firm focused on investments in the pharmaceutical and healthcare sectors. Des Capital is committed to identifying investment opportunities in niche markets, collaborating with entrepreneurs and founders, and driving transformation in the pharmaceutical and healthcare industries.

X Partners is a boutique investment bank centered on research-driven insights and end-to-end transaction services, with a focus on early- to mid-stage startups in the healthcare and enterprise services sectors. Its partners hail from top-tier domestic dual-currency investment firms and investment banks. The firm primarily collaborates with leading and mainstream dual-currency funds, having facilitated cumulative transaction volumes amounting to hundreds of millions of U.S. dollars.