PinPeak Medical Secures RMB 300 Million Series A Funding to Advance Smart Diagnostics

VCBeat has learned that Shanghai Pinnacles Medical recently announced the completion of its RMB 300 million Series A financing round. The round was led by Lilly Asia Ventures (LAV), with key new investors including China Tsing Song Investment Ltd and Vertex Venture Management Co., Ltd. Existing shareholders Shenzhen Oriental Fortune Capital Co., Ltd. and ZhenFund continued to increase their stakes, while Wisdomont Asset Management and Suzhou Chenzhide Investment Partnership(L.P.) also participated in the investment. Life Capital served as the exclusive financial advisor.

As an innovative enterprise in smart laboratory medicine and precision diagnostics in China, Pinnacles has garnered favor and recognition from renowned domestic and international investment institutions due to its forward-looking strategic layout, multi-center open R&D model, and efficient operational capabilities.The proceeds from this round of financing will be used to support the research and development of new products and advance the national commercialization strategy, among other initiatives.

Pinnacles, established in 2020, is committed to becoming a leading enterprise in the next generation of smart in vitro diagnostics. Positioned to address clinical needs, it integrates traditional diagnostics with cross-disciplinary technologies to provide comprehensive solutions for future diagnostics.

Pinnacles Innovation is an open R&D model. Independent research and development are the source of Pinnacles’ vitality, while external collaborations drive the upgrading of products and capabilities. By adopting a Build-Buy-Collaborate strategy, the company aims to rapidly establish itself as a platform-based enterprise in the in vitro diagnostics (IVD) sector. Pinnacles has stated that it will continue to focus on building efficient smart laboratories and providing core products for a broader smart laboratory ecosystem.

Mr. Ding Wei, the company's founder, stated: We are deeply honored to have secured investments from renowned domestic and international investment institutions, including Lilly Asia Ventures (LAV), China Tsing Song Investment Ltd, Vertex Venture Management Co., Ltd, Wisdomont Asset Management, and Suzhou Chenzhide Investment Partnership (L.P.). We also extend our sincere gratitude to our existing investors, Shenzhen Oriental Fortune Capital Co., Ltd. and ZhenFund, for their continued increased holdings. This represents a high level of recognition by the investors of Pinnacles’ management team, execution capabilities, and innovation strategy.

China’s in vitro diagnostics (IVD) industry is evolving at a rapid pace, ushering local innovative platform companies into a golden age of development. Pinnacles was established to capitalize on this momentum and align with industry trends. With this round of financing, the company will accelerate new product development and expand its market channels. Our goal is to translate future advanced technologies into today’s diagnostic solutions, with precision diagnostics as the cornerstone, smart healthcare as the objective, and future technologies as the enabling tools.

Gao Yun, Vice President of Lilly Asia Ventures, stated: The diagnostics industry is undergoing an upgrade from traditional models toward integrated, high-throughput, intelligent, and automated solutions. This structural transformation will create significant market opportunities and is expected to give rise to new platform-based industry leaders.

Over the past year, under the leadership of its founder, Mr. Ding Wei, Pinnacles has achieved multiple milestones since its inception, establishing a core competitive advantage that combines independent R&D with resource integration. The team’s efficient execution and extensive resource network are impressive. We are delighted to partner with the company to jointly promote and advance the development of smart laboratory diagnostics in China.

Dr. Zhang Song, Founder of China Tsing Song Investment Ltd, stated: We are delighted to participate in Pinnacles’ Series A financing round. China’s in vitro diagnostics (IVD) industry is a sector with immense potential. Grounded in clinical needs and backed by a professional technical team and exceptional execution capabilities, Pinnacles is making significant strides toward becoming an industry leader.

We look forward to leveraging the support from this round of financing to further strengthen the Company’s forward-looking industrial layout, rapidly bring its intelligent integrated solutions to market, and establish itself as a leading platform enterprise in smart laboratory testing and precision diagnostics, both in China and globally.

Shenzhen Oriental Fortune Capital stated: In vitro diagnostics (IVD) is the largest subsector within the medical device industry, yet it continues to maintain robust growth. Emerging therapeutic approaches—such as disease prevention, tumor subtyping, personalized therapy, precision medicine, and dynamic monitoring—are in urgent need of novel diagnostic technologies, creating a substantial incremental market for IVD.

Furthermore, China’s IVD market will witness new development trends, including the emergence of micro fully automated laboratories and AI-based interpretation applications designed to address the shortage of highly skilled laboratory and pathology personnel in primary healthcare settings, as well as novel high-sensitivity molecular diagnostics.

Pinnacles, co-founded by Mr. Ding and several senior executives from multinational IVD companies, boasts a global perspective, keeps abreast of domestic and international IVD development trends, brings together outstanding R&D talent from both China and abroad, and delivers system solutions with robust clinical applicability. We look forward to Pinnacles making its own contribution to the development of China’s IVD industry and to improving the accessibility of high-quality medical diagnostics in China.

Liu Tianran, Partner at Vertex Ventures, stated: In the diagnostics sector, China is confronting global competition head-on. Vertex Ventures has always adhered to the investment philosophy of “global vision, Chinese perspective,” striving to identify technologies and teams in China that possess genuine international competitiveness. We are highly optimistic about Pinnacles’ innovative spirit and forward-looking strategic layout. It is an honor to partner with Pinnacles, and we look forward to the company driving the robust and orderly development of China’s diagnostics industry, accelerating progress toward the vision of a Healthy China.

ZhenFund stated: We highly recognize Mr. Ding Wei and his team’s experience, vision, and execution capabilities. ZhenFund is honored to have led Pinnacles’ angel round, witnessing the company’s rapid development and remarkable achievements within just a few months. We also appreciate the recognition from investors in this round. We wish Pinnacles every success in delivering top-tier diagnostic solutions to patients and healthcare institutions at the earliest opportunity.

Lilly Asia Ventures (LAV), established in 2008, is a leading venture capital fund focused on investments in the life sciences and healthcare sectors, with offices in Shanghai, China, and Silicon Valley, USA. LAV is committed to being a trusted partner for outstanding entrepreneurs seeking smart capital, aiming to collaborate with top-tier founders to build great companies that overcome diseases and improve human health through breakthrough products.

Qingsong Capital is a venture private equity investment firm focused on the biotechnology and healthcare sectors, with a management team possessing deep expertise in the medical industry and extensive experience in private equity investment.

China Tsing Song Investment Ltd is committed to growing alongside the most outstanding innovative biopharmaceutical companies, driving technological and commercial innovation in China’s life sciences and healthcare industries. Adhering to a research-driven investment approach, the firm deeply engages in the development of its portfolio companies, with a focus on biotechnology, pharmaceuticals, medical devices, innovative healthcare services, and the cross-disciplinary fields between the broader health industry and frontier technologies. Since its inception, the fund has completed investments in multiple star projects across various niche sectors.

Shenzhen Oriental Fortune Capital Co., Ltd. (hereinafter referred to as “OFC” or “Oriental Fortune Capital”) is a professional venture capital management firm founded by several industry experts with extensive experience, rich practical expertise, outstanding investment performance, and significant influence in China’s venture capital sector. Since its establishment, the company has managed a cumulative fund size of nearly RMB 25 billion, with 52 funds currently under management. The healthcare division of Oriental Fortune Capital focuses on investing in companies within the medical field that feature innovative products, advanced processes, forward-looking technologies, and distinctive business models.

SME Development Fund (Shenzhen Nanshan Limited Partnership) was established in 2016. It is a national-level fund directly capitalized by China SME Development Fund Co., Ltd., with a total size of RMB 4.5 billion. The fund manager is Shenzhen Fuhai SME Development Fund Equity Investment Management Co., Ltd., which is controlled and managed by Oriental Fortune Capital. The fund primarily invests in high-growth strategic emerging industries encouraged by the state, including semiconductors, artificial intelligence, biopharmaceuticals, information security, and enterprise services.

Vertex Ventures, established in 1988, is one of Asia’s earliest venture capital firms and a member firm of Temasek Holdings.

Vertex Ventures, headquartered in Singapore, maintains branch offices in entrepreneurial hubs such as China, the United States, Israel, and India. Vertex Ventures China commenced its early-stage venture capital operations in China in 2008 and currently operates offices in Beijing, Shanghai, and Shenzhen. It manages multiple USD and RMB funds, with assets under management exceeding RMB 10 billion.

ZhenFund is an early-stage investment firm co-founded by Mr. Xu Xiaoping and Mr. Wang Qiang in partnership with Sequoia Capital China in 2011, with total assets under management exceeding $1 billion. Since its inception, ZhenFund has been actively seeking out the most exceptional entrepreneurial teams and epoch-defining investment opportunities across sectors such as the internet, mobile internet, future technologies, artificial intelligence, enterprise services, healthcare, mass consumer goods, and education.

ZhenFund is headquartered in Beijing, with subsequent expansions into Shanghai and Shenzhen. The original intention behind Mr. Xu Xiaoping and Mr. Wang Qiang’s establishment of ZhenFund was to “identify truly outstanding entrepreneurs and build great companies that lead technological innovation and change the world.” ZhenFund’s cultural values—emphasizing integrity, friendliness and humility, approachability and warmth, professional efficiency, and idealism—have earned recognition and appreciation from entrepreneurs both domestically and internationally.

Shengshan Capital, established in 2014, specializes in equity investments in the life sciences and healthcare sectors. The company’s founder and investment research team possess extensive professional expertise in medicine, deep industry backgrounds, and substantial experience in capital operations. Guided by the principles of “technology-driven innovation, clinical orientation, industrial integration, and value investing,” Shengshan Capital focuses intensively on leading enterprises in the biotechnology, innovative drugs, and digital health segments, serving as a long-term enabler for its portfolio companies.

Chende Capital is an investment firm focused on innovative medical technologies and cutting-edge biotechnology sectors, managed and operated by a professional team with extensive experience in the healthcare industry. The firm manages multiple RMB and USD funds.

Chende Capital adheres to the investment philosophy of “focus, excellence, and reputation.” Leveraging its deep industrial resources in the healthcare sector and years of in-depth research and cultivation, it gains immediate insights into the latest international technological trends and seizes investment opportunities driven by technological innovation.

Chende Capital is dedicated to identifying top-tier companies with the potential for industry leadership. By leveraging an interconnected, win-win investment methodology and a precise, pragmatic post-investment value-creation system, we collaborate with entrepreneurs to build industrial ecosystems and achieve mutual growth, thereby delivering optimal returns to our investors.