Nuwa Life Submits IPO Prospectus Following Successful Angel and Angel-Plus Funding Rounds for Its Breakthrough PIMS Embryo Screening Technology

On October 15, 2021, Guangzhou Nuwa Life Technology Co., Ltd. (“Nuwa Life”), an innovator in next-generation assisted reproductive technologies, successfully closed its angel-plus round of financing, following the completion of its angel round in August. Both rounds were jointly led by Juezi Investment and Jinsheng Capital, among others.

Nuwa Life is an independently controlled IVF technology service provider with full patent authorization, specializing in the research and application of assisted reproductive medicine. Currently, the company has established a professional team with expertise in product development, production, quality control, and clinical research.

Nuwa Life’s DNA Methylation Embryo Screening Technology (pre-implantation methylation screening, PIMS) is a next-generation embryo screening technology. Compared with PGS technology, which can only detect embryonic chromosomal ploidy, PIMS technology can simultaneously detect embryonic chromosomal ploidy and whole-genome DNA methylation status. After clinical screening using PIMS, PGS screening is no longer required. This financing will further promote the industrial implementation of PIMS.

The PIMS technology, developed by the founding R&D team of Nuwa Life, is the world’s first next-generation pre-implantation screening technique for IVF embryos. The live birth rate for IVF pregnancies using high-quality embryos selected via PIMS is approximately 70%–80%, and the technology can reduce birth defects in newborns, holding promise to become the new gold standard in the field of assisted reproduction.

Professor Liu Jiang, the founder, introducedFor seven years, the Nuwa Life team has been conducting research and continuous optimization of PIMS technology within the Chinese Academy of Sciences (CAS) research system, earning an excellent rating in the CAS “Thirteenth Five-Year Plan Pioneer Action” evaluation. Nuwa Life has collaborated with leading domestic reproductive centers to complete preclinical studies involving embryo testing for 182 families, encompassing nearly 1,000 cases. PIMS technology has undergone preliminary clinical validation, and the standardization of testing reagents and procedures has been initially completed. Furthermore, PIMS products and technology hold broader application prospects in the future. Methylation detection products targeting men with fertility intentions and specific populations are currently under development and will be available for direct-to-consumer (To C) sales.

Juezi Investment: The assisted reproductive technology market offers vast potential, with a focus on technological innovation and exceptional founding teams

Juezi stated that scale and technology are the two core principles of investment, while the chosen sector determines the prospects for scale, and the founding team determines whether core technological advantages can be sustained.

In 2020, there were approximately 1 million IVF cycles in China, with a penetration rate of only 3.1% for preimplantation genetic screening (PGS), resulting in a screening market size of RMB 2.5 billion. Although the current ready market in China is not large, the potential market is enormous. There are currently 50 million couples suffering from infertility in China, among whom 16% require assisted reproductive services. Based on the current U.S. penetration rates for assisted reproduction (30%) and PGS (35%), the annual market capacity for preimplantation genetic screening in China is estimated to be around RMB 24 billion.

Professor Liu Jiang, the founder, is a leading scientist within the Chinese Academy of Sciences system specializing in human genetic information research. As a Changjiang Scholar, he oversees the continuous optimization of embryo methylation detection technology and the ongoing exploration of fundamental research in the field of reproduction. The co-founder brings nearly two decades of experience in capital operations and corporate management. This combination of “distinguished scientists + professional management talent” helps R&D-focused startups maintain innovation capabilities, establish scientific operational systems, and secure sustainable financing.

Jinsheng Capital: Nuwa Life’s PIMS Technology Holds Extremely High Clinical Application Value

Yang Wulin, Chairman of Jinsheng Capital, stated that Jinsheng Capital has long focused on and actively invested in the life and health sector, having already invested in several outstanding medical device companies. He emphasized that high clinical application value is the decisive factor in determining the excellence of a new technology.

Nuwa Life’s Preimplantation Methylation Screening (PIMS), an embryo selection technology centered on whole-genome methylation profiling of embryos, represents a globally pioneering technological breakthrough. Clinical trials have demonstrated that the DNA methylation status assessed by PIMS directly determines embryo implantation success rates and infant health outcomes. Nuwa Life has established a new technical standard for screening embryos with healthy developmental potential based on methylation levels. Currently, preimplantation genetic screening (PGS) used in clinical practice is primarily suitable for IVF patients aged 35 and older or those with recurrent miscarriages, offering no significant benefit to younger patients. In contrast, PIMS is applicable not only to patients aged 35 and above but to all individuals undergoing IVF, thereby improving IVF efficiency across the entire patient population. By integrating both chromosomal ploidy indicators and DNA methylation markers, PIMS increases the single-embryo transfer success rate from the current 30–40% to 70%, effectively addressing the critical challenges of low overall efficiency in assisted reproductive technology and the high incidence of birth defects, thus delivering substantial clinical value.

Meanwhile, Nuwa Life’s PIMS technology platform holds broader technical prospects; for instance, the conduct of subsequent clinical trials and the continuous accumulation of data will enable the gradual establishment and refinement of artificial intelligence analytical models to facilitate more in-depth detection of epigenetic diseases in embryos.

Juezhi Investment is a family office fund founded by Mr. Wang Gang, the angel investor behind Didi and Full Truck Alliance Group. With assets under management totaling several billion U.S. dollars, the firm primarily invests in China’s internet and healthcare sectors.

Jinsheng Youkang Fund is a specialized venture capital fund under Shenzhen Jinsheng Investment, focusing on early-stage equity investments in life and health sectors such as IVD, genetic engineering, and biopharmaceuticals, with particular emphasis on innovative technology companies capable of reshaping the healthcare industry landscape.