RuDi Bio Announces Completion of Hundreds of Millions RMB Series B Financing to Advance Clinical Trials, Expand Product Pipeline and Market Presence

VCBeat has learned that Hangzhou Ruidi Biotechnology Co., Ltd. (“Ruidi Biotech”) has announced the completion of its Series B financing, amounting to hundreds of millions of yuan. This round was jointly led by Taikun Fund and JF Capital, with participation from Anjie Investment, New Zhaoyuan Capital, and Xiaochi Capital. The proceeds will be used to conduct clinical trials, expand new product lines, and develop markets.

Hangzhou Ruidi Biotechnology Co., Ltd., established in 2014, is a platform technology company specializing in novel energy-based high-power pulsed electric fields. The company has built a globally leading pulsed field ablation technology platform. Leveraging this platform, it has developed a portfolio of innovative medical devices with global leadership in areas such as oncology and cardiovascular care, achieving significant milestone accomplishments.

Leveraging its globally leading next-generation pulsed field ablation technology platform and its capability for coordinated hardware and software development, Hangzhou Ruidi Biotechnology Co., Ltd. has consecutively secured funding from more than ten National Natural Science Foundation projects and National Major Science and Technology Special Projects. The company has been successfully recognized as a National High-Tech Enterprise and has established a provincial-level key laboratory for medical applications of pulsed fields, led by the enterprise. The nanosecond pulsed tumor ablation system developed and delivered by the company was approved in 2020 to enter the National Medical Products Administration’s Green Channel for Innovative Medical Devices. To date, Hangzhou Ruidi Biotechnology has filed nearly 100 patent applications, with PCT patents targeting European and American international markets, and has initiated CE certification for its products.

The nanosecond pulsed tumor ablation system developed by Hangzhou Ruidi Biotechnology Co., Ltd. is currently undergoing multi-center prospective clinical trials across China. It has safely completed over one hundred tumor ablation procedures in high-risk anatomical locations adjacent to major blood vessels, demonstrating that nanosecond pulsed ablation can overcome the limitations of thermal ablation. The company’s pulsed field ablation system for cardiac atrial fibrillation has achieved breakthrough progress; it has established a collaboration with Academician Ge Junbo’s team at Zhongshan Hospital Fudan University and is poised to enter registration-based clinical trials. Recently, the Ministry of Science and Technology conducted a comprehensive performance evaluation of the national major science and technology special project undertaken by Ruidi Biotechnology—titled “Domestic Original Innovation Nanoknife”—which passed with high scores. The system was recommended as an outstanding representative of domestic high-end medical devices and selected for inclusion in the National “13th Five-Year Plan” Scientific and Technological Achievements Exhibition, receiving consecutive coverage from Science and Technology Daily.

Compared with traditional thermal ablation and cryoablation therapies, the nanosecond pulsed tumor ablation system developed by Ruidi Biotechnology offers unique advantages: based on the principle of next-generation nanosecond pulsed electric field ablation, it selectively ablates tumor tissue and can treat tumors that are untreatable with other devices, such as those closely adjacent to major blood vessels, nerves, and other vital organs. Pulsed electric field therapy features minimal toxic side effects, strong controllability, and real-time monitoring capabilities, without causing thermal damage to surrounding tissues.

Compared with irreversible electroporation tumor ablation devices using microsecond pulsed electric fields abroad, Hangzhou Ruidi Biotechnology Co., Ltd. has pioneered original innovation in high-voltage, steep nanosecond pulsed devices operating at the tens of kilovolts level. Its independently developed nanosecond pulsed tumor ablation system achieves supraporation and transmembrane nuclear entry, offering greater precision, higher energy, and sharper pulse characteristics. This breakthrough overcomes the parameter limitations of existing pulsed electric field technologies, representing a next-generation, domestically developed, and independently innovative approach to electric field ablation therapy.

With over a decade of experience in overseas R&D translation and a solid clinical background, Ruidi has gained a deeper understanding of the research and development of pulsed electric field medical devices. The company’s ability to rapidly advance its product pipeline and establish close collaborations with numerous renowned hospitals and expert teams across China is underpinned by the team’s robust technical capabilities and extensive clinical expertise. Comprising entirely of returnees from abroad, the Ruidi team consists of pioneers who were among the first globally to lead the introduction of high-voltage pulsed electric field technology into clinical medicine. With years of technological accumulation and theoretical research in this cutting-edge interdisciplinary field, Ruidi currently holds a leading global position in this niche sector.

Based on the principles and advantages of nanosecond pulsed ablation, Hangzhou Ruidi Biotechnology Co., Ltd. is currently focusing its strategic layout on the oncology and cardiovascular fields, with multiple pipelines of minimally invasive interventional medical devices utilizing novel non-thermal energy ablation under registration. The oncology and cardiovascular sectors represent two major disease areas in China with a substantial patient population and urgent clinical needs.

According to data released by the World Health Organization, China recorded 4.57 million new cancer cases and 3 million cancer-related deaths in 2020, meaning that one out of every four newly diagnosed cancer patients worldwide was in China. In the cardiovascular field, the aging trend is concerning. According to statistics from the Report on Cardiovascular Health and Diseases in China 2020, there are currently 330 million people in China suffering from cardiovascular diseases. Curbing the spread of tumors and cardiovascular diseases has become an important component of the Healthy China Initiative and the national strategy for addressing population aging.

Ruidi’s product development adheres to the core principles of “First-in-Class” and “Best-in-Class,” ensuring technological foresight while mitigating potential patent disputes. Targeting the global market, Ruidi is building a closed-loop service model for minimally invasive, precision interventional diagnosis and treatment, integrating novel energy platforms, consumables, post-operative tracking, and rehabilitation assessment. By leveraging AI-enabled pulsed field digital therapeutics, the company aims to simultaneously improve patients’ survival time and quality of life.

Regarding the successful completion of this funding round, Hangzhou Ruidi Biotechnology Co., Ltd. stated: “We extend our gratitude to the investors in this round for their recognition and support of our team. We also deeply appreciate the unwavering support and assistance provided by our existing institutional shareholders throughout the company’s development. Mindful of the responsibilities and pressures we face, we are committed to redoubling our efforts to continuously enhance product quality, with the aim of enabling our Pulsed Field Energy Platform to bring hope for a cure to an increasing number of patients afflicted by disease.”

Xu Yu Hu, Partner at Jifeng Capital, stated, “We have long been bullish on innovation in China’s medical device sector. Pulsed field ablation (PFA) has gained widespread recognition in European and American markets, demonstrating significant advantages over traditional ablation therapies for both tumor ablation and atrial fibrillation ablation. Hangzhou Ruidi Biotechnology Co., Ltd. has established a globally leading next-generation pulsed field platform, backed by robust foundational innovative technologies, a rich product pipeline, and excellent clinical data. The company’s team, comprising top-tier scientists and seasoned industry experts, is exceptionally rare. Jifeng Capital is pleased to be a shareholder of Ruidi Biotechnology. We will firmly support the company’s continued innovation efforts to address unmet clinical needs and provide patients with more high-quality products.”

“The project lead at Tai Kun Fund stated, ‘Ruidi Biotechnology has established a globally leading electroporation technology platform. Compared with traditional tumor ablation techniques, irreversible electropulation (IRE) can reduce damage to critical structures surrounding tumors and lower associated complications. Electroporation technology holds significant market potential in oncology, cardiovascular disease treatment, and other fields. The company’s team comprises interdisciplinary talent with expertise in both medicine and engineering, demonstrating strong execution capabilities over the past year. As an investor in this round, we will provide robust support for the clinical advancement of the company’s projects and the development of new products.’”

Zhou Tianyu, Investment Director at Anjie Capital, stated, “We have long focused on investing in innovative medical device companies both domestically and internationally. The application of pulsed field ablation (PFA) in the medical field has gained recognition in recent years. Its unique tissue specificity offers significant advantages in terms of procedural safety. Hangzhou Ruidi Biotechnology Co., Ltd. has been deeply engaged in the field of electromagnetic pulses for many years, possessing foundational R&D and innovation capabilities that are not available to other domestic or international companies. The clinical trials for PFA in the treatment of hepatocellular carcinoma are more than halfway complete, and the safety and efficacy data demonstrated thus far have given us great confidence in the company’s products. We are delighted to partner with Ruidi Biotechnology and look forward to helping the company address more clinical pain points in the future, thereby benefiting more patients.”

Wen Yaxin, Managing Partner at New Zhaoyuan Capital, stated, “New Zhaoyuan Capital focuses on innovative investments in medical devices. Hangzhou Ruidi Biotechnology Co., Ltd. has established a platform-based product development pipeline in the field of pulsed electric fields, demonstrating sustained innovation capabilities and an international perspective. Compared with traditional ablation methods, Ruidi Biotechnology offers significant improvements in both safety and efficacy. We are delighted to participate in this round of financing for Ruidi Biotechnology. Moving forward, we will continue to support the company’s rapid growth, bringing better precise treatment options to patients.”

Li Zhe, Partner at Proxima Ventures, stated that Proxima Ventures continues to closely monitor the clinical application of innovative technologies worldwide. Since 2017, we have recognized the unique advantages of pulsed field ablation (PFA) in treating conditions affecting the heart, liver, pancreas, brain, and other organs, and have been seeking outstanding entrepreneurial teams globally to collaborate on advancing this technology in clinical practice. We were fortunate to identify Hangzhou Ruidi Biotechnology Co., Ltd.’s team in 2018 as they were developing the world’s most advanced nanosecond pulsed ablation technology, and we provided investment support at the earliest opportunity. Proxima Ventures remains firmly confident in Ruidi Biotechnology’s leading global positioning in the field of nanosecond pulsed ablation. We look forward to seeing the team, with the support of both existing and new shareholders, expand the application of this next-generation electroporation ablation technology to a broader range of diseases, thereby benefiting more patients.

Dr. Ji Tianrong, Founder of Taiyu Investment, stated: “Taiyu Investment has long been committed to the medical device sector, with a particular focus on the close integration of innovative products and clinical needs. Ruidi Biotechnology applies its globally leading nanosecond pulsed ablation technology to the fields of oncology and cardiovascular care, addressing unmet clinical needs such as the safety of ablating tumors adjacent to critical organs and tissues. This aligns closely with our investment philosophy. As the lead investor in the previous round, we are delighted to see Ruidi Biotechnology successfully complete this round of financing and continue to make progress in clinical trials, product line expansion, and other areas.”

Taikun Fund is a biomedical industry fund jointly initiated by Tigermed, Hangzhou Capital, and Hangzhou High-Tech Innovation. Leveraging Tigermed’s industrial layout in clinical CRO services and aligning with the strategic development of Hangzhou’s pharmaceutical industry, Taikun Fund operates on market-oriented principles. Focusing on the life and health industry, it prioritizes investments in innovative medical devices, biopharmaceuticals, healthcare services, healthcare informatics, digital therapeutics, intelligent manufacturing, and nutritional health enterprises.

Jifeng Capital, founded in 2015, is a premier venture capital firm dedicated to the healthcare and medical sectors. By empowering enterprises with comprehensive value-added services and a global perspective, we drive innovation and aim to deliver long-term value to the development of the medical industry and human health. Staying true to our entrepreneurial roots, we consistently uphold the principles of “professionalism, humility, and diligence.” We are committed to serving entrepreneurs as strategic partners over the long term, helping them establish a strong foothold in China while embracing a global vision to build great enterprises.

Anjie Investment is a large-scale venture capital firm specializing in venture capital and equity investment. Headquartered in Shanghai, China, the firm has been deeply engaged in the investment sector for over two decades, with offices in Shanghai, Hong Kong, and other locations. Its investment portfolio spans life sciences, semiconductor chips, internet technology, and other sectors. The companies and R&D centers it has invested in are distributed across China, as well as in Hong Kong, North America, Europe, and other regions worldwide. Its affiliated investment entities serve as long-term strategic investors and core shareholders of numerous publicly listed companies, and have also invested in many innovative unicorn companies and industry leaders.

Xin Zhaoyuan Capital, established in 2018 with offices in Beijing and Shanghai, specializes in investing in and incubating early-stage innovative medical device projects. The firm focuses on key sectors including cardiovascular care, orthopedics, neurology, in vitro diagnostics (IVD), and medical robotics. It provides full-lifecycle support to its portfolio companies across various stages, such as product development, testing, clinical trials, and medical device registration, thereby offering clear pathways for productization and commercialization. Additionally, it delivers robust support in later stages by leveraging industrial resources from listed companies and facilitating product market promotion. Working alongside entrepreneurs, the firm aims to drive rapid corporate growth and strive to build leading enterprises or platform-based value companies within niche segments of the medical device industry.

Proxima Ventures is a specialized investment firm focused on innovative medical technologies and disruptive biotechnologies, dedicated to serving exceptional innovative healthcare technology companies with significant growth potential. Managed and operated by a professional team with extensive experience in the medical industry, Proxima Ventures boasts diverse and international expertise, professional backgrounds, and industry networks, and currently manages multiple RMB and USD funds. The firm has established a leading healthcare entrepreneurship ecosystem, facilitating connections between its portfolio companies and high-quality clinical and industrial resources, achieving remarkable experience and results.

Taiyu Investment, established in 2014, is an independent venture capital firm under Tigermed. Focusing on equity investments in early-stage and growth-stage healthcare companies, its management team boasts extensive industry expertise, broad sector resources, and rich investment experience. To date, Taiyu Investment has completed over RMB 1 billion in investments across more than 70 projects, with a portfolio spanning medical devices, biopharmaceuticals, 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.