EPIN (Guiyang) Quality Technology Secures Tens of Millions in Series C Funding to Accelerate Full-Process Medical Device CRO Expansion

VCBeat (WeChat ID: vcbeat) learned at the earliest opportunity that,Recently, Yipin (Guiyang) Quality Technology Co., Ltd. (hereinafter referred to as “Yipin”) announced the official completion of its Series C financing, amounting to tens of millions of yuan.

This round of financing was led by Mefang Capital, with additional investments from existing shareholders Oriental Fortune Capital and Guiyang Venture Capital. The funds will continue to be used for the expansion of Yipin’s preclinical research laboratory for medical devices and the enlargement of its CRO team.

Following this round of financing and construction, Yipin will have essentially established a full-spectrum preclinical research laboratory portfolio covering electronic medical devices, orthopedics, implants and interventional products, biomedical materials, sterile consumables, in vitro diagnostics (IVD), and software.

The laboratories are distributed across four core regions: Suzhou, Guiyang, Hefei, and Shanghai, with a total area of approximately 30,000 square meters and cumulative investments exceeding RMB 200 million. They feature comprehensive technical capabilities and laboratory infrastructure, including optoelectromechanics, wireless and communications, materials and mechanics, biology and chemistry, laboratory animal science, clinical inspection and pathology, operating rooms, and scanning electron microscopy.

The laboratory operates in strict compliance with accreditation standards recognized in China, the United States, and Europe, steadily advancing scope expansions and accreditations for CMA, CNAS, FDA, and OECD GLP. It is capable of providing clients with rigorous, scientific solutions, methodologies, data, and research reports.

Meanwhile, Yipin has largely established comprehensive CRO service capabilities spanning the entire process from preclinical research to testing and inspection, large animal studies, clinical trials, and regulatory registration. Its Market and Technical Service Centers are located in major core cities across China, including Tianjin, Suzhou, Shanghai, Nanjing, Changzhou, Hefei, Wuhan, Guiyang, Chengdu, Guangzhou, and Shenzhen, effectively supporting innovation and entrepreneurship in medical device enterprises, reducing R&D risks and costs, improving R&D efficiency, and shortening time-to-market.

Zhou Yujian, Managing Partner of Mifang Capital, stated: The newly revised Regulations on the Supervision and Administration of Medical Devices came into effect on June 1 this year, ushering in significant development opportunities for the third-party testing market for medical devices.

As one of the few third-party medical device testing laboratories in China with significant heavy-asset investment, Yipin Medical boasts comprehensive capabilities across a wide range of product categories and the entire testing lifecycle, including CRO services. It is authorized to issue test reports recognized by the NMPA, FDA, and CE. Its professional expertise and service quality have been acknowledged by over 1,000 domestic medical device enterprises, making it a worthy candidate for investment and positioning, with expectations for further rapid expansion of its business scale.

The Oriental Fortune Capital Healthcare Team stated:Yipin is a preclinical testing CRO for medical devices with an excellent industry reputation. It has helped over 1,000 clients accelerate their product development and registration processes, covering nearly the entire spectrum of medical device categories. In recent years, building on its preclinical services, Yipin has made significant breakthroughs in clinical trial services for implantable and interventional devices, positioning itself to grow into a full-process CRO enterprise for the medical device industry.

Many of Oriental Fortune Capital’s portfolio companies are market-driven clients that engage through free choice and positive interaction. We also hope that these portfolio companies can jointly build an open, inclusive, free, and orderly industry collaboration system, leveraging capital with maximum efficiency to create the greatest social wealth.

EPIN is a medical device technology service platform with government investment backing. Its state-owned shareholders include Guiyang Venture Capital, the Baiyun District Government of Guiyang City, the National SME Development Fund (managed by Oriental Fortune Capital), and the Anhui Provincial Health Industry Guidance Fund. Adhering to steady development and market-oriented operations, EPIN is one of the earliest CRO platforms in China to introduce mixed-ownership reform involving state-owned capital.

Yipin’s headquarters is located in the Innovation Industrial Park, Baiyun District, Guiyang City, with its business center situated in the Hongqiao Business District of Shanghai. The company operates four preclinical research laboratory bases in Suzhou, Guiyang, Hefei, and Shanghai. Its marketing, regulatory registration, and clinical research teams are distributed across Tianjin, Shanghai, Suzhou, Changzhou, Nanjing, Hefei, Wuhan, Guiyang, Shenzhen, and Guangzhou. Additionally, Yipin maintains overseas liaison offices in the United States and Italy.

Yipin specializes in CRO services and testing/inspection within the medical device sector. Having served approximately 3,000 medical device companies, it has established a unique big data and solutions repository, earning an outstanding brand reputation.

Leveraging its extensive client base and comprehensive technical research system, Yipin is steadily advancing the development of various innovation platforms and business models, including the Yipin Medical Device Research Institute, the Guizhou Provincial Medical Device Innovation Center, incubators, Innovation Works, CMO, and CVC. With strong support from the Guiyang Municipal and Baiyun District governments, and in alignment with medical device industry development policies, Yipin is accelerating industrial agglomeration and the process of innovation and entrepreneurship.

Med-Fine Capital focuses on investments in the pharmaceutical, healthcare, and life sciences sectors. The fund’s management team possesses deep industry expertise in pharmaceuticals and healthcare, along with extensive venture capital experience. Headquartered in Shanghai with operations spanning across China, the firm adheres to the philosophy of “focusing on pharmaceuticals, healthcare, and life sciences, leveraging capital value, and rewarding trust.” It is committed to becoming the most competitive specialized pharmaceutical investment fund on a global scale.

Since 2016, we have completed investments in more than forty emerging pharmaceutical companies, including Mabwell, Hanyu Medical, LinkMed, ImmunoMik, Zenith Pharma, GeneCast, Truthdiag, Jingzhun Medical, SinoMicro, Micron Bio, CytoNest, PhenoGen Biopharma, and Yehui Pharma.

Shenzhen Oriental Fortune Capital Investment Management Co., Ltd. (hereinafter referred to as “OFC” or “Oriental Fortune Capital”) is a professional venture capital management firm founded by several industry professionals with extensive experience in China’s venture capital sector, rich practical expertise, outstanding investment performance, and significant influence within the industry.

Since its establishment, the firm has managed a cumulative fund size of nearly RMB 25 billion, with 52 funds under management. The healthcare sector of Orient Fortune focuses on investing in companies engaged in innovative medical products, advanced processes, forward-looking technologies, and distinctive business models. It has established a professional post-investment service system catering to projects at the early incubation, accelerated growth, and standardized maturity stages. To date, it has invested in over 520 projects, with 130 projects exited through IPOs, mergers and acquisitions, and other means.

SME Development Fund (Shenzhen Nanshan Limited Partnership) was established in 2016. It is a national-level fund directly funded by China National SME Development Fund Co., Ltd., with a fund 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-level services.

Guiyang Venture Capital Co., Ltd. was established in 2010 as a financial enterprise approved by the Guiyang Municipal People's Government to fully leverage the guiding role of state-owned capital and improve a local financial service system adapted to the market economy, with a registered capital of RMB 350 million. Guiyang Venture Capital is committed to promoting the aggregation and development of emerging industries in Guiyang through equity investments.

Guiyang Venture Capital currently manages 12 investment funds, with total assets under management nearing RMB 8 billion. Focusing on big health and big data as key investment directions, it has invested in over 80 projects across sectors such as biopharmaceuticals, big data, new energy, and civil-military integration. Among these portfolio companies, Xintian Pharmaceutical and Guizhou Sanli Pharmaceutical are listed on the Main Board, Yidu Technology is listed in Hong Kong, Hangyu Technology has passed the review of the STAR Market, and Full Truck Alliance successfully went public on the New York Stock Exchange.