Triastek Secures Hundreds of Millions in Series B+ Funding to Accelerate Commercialization of Emerging 3D-Printed Drug Technologies

On November 23, Nanjing Triastek Medical Technology Co., Ltd. (“Triastek”) announced the completion of its Series B+ financing round, amounting to hundreds of millions of yuan. The round was led by Triwise Capital, with follow-on investments from existing shareholders Matrix Partners China and Yun Qi Partners. China Renaissance served as the exclusive financial advisor for this financing round.

In June this year, TRIASTEK just completed a RMB 330 million Series B financing round, and within a few months, it again secured a several-hundred-million-yuan Series B+ round, earning strong recognition from both new and existing shareholders. The proceeds from this round will be primarily used for talent recruitment and business collaborations.

Founded in 2015, TRIASTEK is a global leader in the field of 3D-printed pharmaceuticals and a pioneer of next-generation digital pharmaceutical manufacturing processes.The company is dedicated to building a cutting-edge 3D-printed drug technology platform, encompassing the entire value chain from dosage form design and digital development to intelligent manufacturing.Currently, as the first Chinese pharmaceutical company selected for the U.S. FDA’s Emerging Technology Program, TRIASTEK is participating in the development of industry standards for 3D-printed drugs under the United States Pharmacopeia (USP).

After six years of development, TRIASTEK has emerged at the forefront of the global 3D-printed pharmaceuticals sector, accounting for more than one-fifth of all patent applications in this field worldwide. The company is on the verge of completing a continuous, intelligent 3D-printed drug production line with an annual capacity of 50 million tablets. On October 27, 2021, TRIASTEK unveiled its Open Strategy for the 2.0 Era, marking the company’s formal entry into the commercialization phase of emerging technologies.

TRIASTEK MED 3D-Printed Drug Production Line V2.5 (Prototype Production Line)

Dr. Senping Cheng, Founder and CEO of TRIASTEK, stated, “We extend our gratitude to Triwise Capital and the company’s existing shareholders for their support of TRIASTEK, and we thank China Renaissance for its assistance.”In the rapidly evolving Era 2.0 of TRIASTEK, we will leverage the power of our platform technologies to provide solutions for global pharmaceutical companies, driving the digitalization and intelligent transformation of the formulation industry.”

Mr. Zheng Zhenhua, Managing Partner of Triwise Capital, stated, “We at Triwise Capital are deeply honored to serve as the lead investor in this round of financing for TRIASTEK. Guided by our core values of ‘redirecting investment back to the real economy and leveraging capital to serve industrial development,’ Triwise Capital places strong emphasis on original and value-driven investment. TRIASTEK possesses the world’s first MED 3D printing technology, which enables precise control over drug release, thereby enhancing the efficacy of pharmaceutical products, reducing side effects, and delivering drug products with greater clinical value to patients. Furthermore,”TRIASTEK will implement an open strategy by sharing its technological resources and establishing extensive collaborations with global pharmaceutical companies to rapidly commercialize emerging technologies.“Triastek’s dedication and professionalism align perfectly with Triwise Capital’s investment philosophy. We at Triwise Capital will join hands with Triastek to jointly advance the development of the global life and health industry!”

Dr. Yu Zhiyun, Partner at Matrix Partners China, stated, “Triastek’s groundbreaking 3D-printed drug technology platform can cover nearly all types of target drug release profiles. As the first Chinese company selected for the FDA’s Emerging Technology Program,”TRIASTEK’s technological platform features high barriers to entry, with extensive expertise accumulated across all stages of pharmaceutical formulation. It has achieved a closed-loop process encompassing target drug profile design, formulation structure and component design, establishment of formulation models, prototype printing for validation, and large-scale manufacturing, representing a breakthrough significance for new drug development.“Since the investment by Triwise Capital, TRIASTEK has accelerated its development. Currently, three of the four 3D-printed drugs worldwide that have entered the registration and filing stage are from TRIASTEK. In the future, as the TRIASTEK ecosystem continues to iterate and open up, more innovative drugs will surprise us through 3D printing. We are very optimistic about TRIASTEK’s ability to continuously bring innovative drugs addressing unmet clinical needs to patients through its technology platform and global partners.”

Mr. Mao Chengyu, Founding Partner of Yun Qi Partners, stated: “The digitalization and intelligentization of drug development and manufacturing are important components of digital intelligent manufacturing and a key pathway to the modernization of the pharmaceutical industry."As China's first developer of 3D-printed pharmaceuticals, TRIASTEK’s foundational manufacturing technology is driving a digital transformation in the development and production processes of the pharmaceutical industry. We believe that the team led by Dr. Cheng Senping, together with its robust engineering and manufacturing ecosystem, will leverage China’s speed and innovation advantages to emerge as a world-leading technology-driven pharmaceutical company."

Mr. Xie Yijing, Managing Director and Head of the Healthcare and Life Sciences Group at China Renaissance, stated, “We extend our heartfelt congratulations to TRIASTEK on the successful completion of this round of financing. During our involvement in the company’s two rounds of funding, we have had the privilege of witnessing the continuous growth of an industry leader.”Intelligent pharmaceutical manufacturing is sparking a new wave of transformation in the pharmaceutical industry. Let us jointly anticipate the birth of the world’s first intelligent pharmaceutical manufacturing center, and leverage 3D printing technology to propel the pharmaceutical industry to new heights.”

Triwise Capital was established in 2015, bringing together financial executives from Shenzhen Capital Group and Guosen Securities, senior industry professionals from Roche, MD Anderson Cancer Center, Wantai BioPharm, and China Medical System Holdings, as well as scientific experts from renowned academic institutions both in China and abroad. Guided by the value proposition of “returning investment to the real economy and leveraging capital to serve industry,” Triwise Capital strategically lays out its industrial ecosystem, emphasizing original and value-driven investments. By connecting industrial and technological platforms and engaging in “joint entrepreneurship” with industry teams, Triwise Capital leverages its financial strength to facilitate the commercialization of scientific and technological achievements. Currently, Triwise Capital maintains offices in Shenzhen, Shanghai, and Changzhou, and has initiated and established more than twenty RMB and USD-denominated funds. Notable portfolio companies include Innovent Microbiology, Akeso, Intabio, Quanxin Biotech, Fapon Biotech, Xingkang Medical, Berger Biology, Yuhong Therapeutics, HEC Pharm, PharmaBlock, Immune-Onco, Crown Bioscience, InventisBio, TRIASTEK, Jianxin Yuanli, and TransThera Sciences.

Matrix Partners China was founded in 2008 and is a leading venture capital firm in the industry with a long-term focus on early-stage and early-growth investments. It specializes in investing in intelligent manufacturing, hard technology, aerospace, consumer sectors, enterprise services, B2B and transaction platforms, healthcare, and other fields. To date, it has invested in more than 700 companies, including XPeng Motors, Li Auto, Guazi Used Cars, Ele.me, Youzan, Ronbay Technology, XGIMI Technology, Momo, Didi Chuxing, Zi Hai Guo, Genor Biopharma, Simple Love, SemiDrive Technology, and iSpace.

Yun Qi Partners is China’s earliest research-driven venture capital firm dedicated to the “Technology + Industry” model. Since its inception in 2014, it has systematically deepened its focus on two core directions: “technology industrialization” and “industry digitalization.” Its investment portfolio spans sectors including frontier technologies, advanced manufacturing, intelligent connected devices, SaaS and enterprise services, and B2B supply chains.

As an early lead investor, Yun Qi Partners has led investments in nearly 130 outstanding startups over the past seven years, with more than 20 of them becoming industry leaders (valued at >US$1B). Investment portfolio companies include: 360 DigiTech (NASDAQ: QFIN), Intco Medical (SZ: 300677), Intco Recycling (SH: 688087), Kujiale, Baibu, PingCAP, DeepRoute.ai, Keenon Robotics, XTransfer, WorldShips Logistics, Defeng Technology, Sobot Technology, XiaoPangXiong, IceKredit, Zilliz, Dongjing Yiwang, Plus Intelligence, TRIASTEK, Zhuishi Technology, and Coolrender Technology.