InnoMed Completes Hundreds of Millions RMB Series B+ Financing Led by Lilly Asia Ventures

On October 7, Yingzi Medical announced that it had recently completed a Series B+ financing round amounting to hundreds of millions of yuan.This round of financing was led by Lilly Asia Ventures (LAV), with participation from existing investors Steadview Capital and Sequoia China, as well as new investor Paradise Silicon Valley.As an innovative platform-based enterprise in the field of women's health in China, Yingzi Medical has garnered the favor and recognition of internationally renowned investment institutions due to its forward-looking strategic layout, innovative product development capabilities, and outstanding commercial operations.

Yingzi Medical was founded in Hangzhou at the end of 2015. It currently has R&D and production bases in Hangzhou, Suzhou, and Xiangtan, and has newly established an innovation center in Shanghai.The core founding team members of the company possess not only extensive industry experience but also a proven track record of successful entrepreneurship. Currently, the company has launched its first series of minimally invasive intrauterine gynecological products, including a high-efficiency cold knife hysteroscopic morcellator and multifunctional hysteroscopes. This product portfolio demonstrates significant technical advantages, with innovation levels reaching international leadership, and has received widespread acclaim from gynecological experts both domestically and internationally. Furthermore, the company has initiated scientific research collaborations with renowned academic institutions in China, which will facilitate the rapid development and broad adoption of new patient-centered technologies for the diagnosis and treatment of intrauterine gynecological diseases.

Mr. Lou Ting, Chairman and CEO of the Company, stated, “We are deeply honored that Lilly Asia Ventures (LAV), a renowned international investment institution, has led this round of financing. We also extend our sincere gratitude to our existing investors, F-Prime Capital and Sequoia China, for their continued increased investment, as well as to new investor Paradise Silicon Valley for joining us. This reflects the investors’ high recognition of Yingzi’s management team, innovation strategy, and execution capabilities. Through this round of financing, the Company will accelerate the development of new products, commercial deployment both domestically and internationally, and strategic business expansion.”

Xia Chen, Executive Director and General Manager of the Company, stated, “We sincerely appreciate the international investment community’s recognition of our management team. Over the past two decades, we have driven and witnessed the vigorous development of cervical cancer prevention and control in China. Looking ahead, we will remain committed to our innovation philosophy for products and services—centered on serving physicians and benefiting patients. Guided by clinical practices of international standards, we will strive relentlessly to ensure that women in China can conveniently and equitably benefit from innovations and advances in medical technology.”

Gao Yun, Vice President of Lilly Asia Ventures (LAV), stated, “Currently, there is a significant unmet need in the field of women’s health in China, with a considerable gap remaining between the advancement of therapies and product technologies here and those in developed countries. As a pioneer in innovative medical devices for women’s health in China, Yingzi Medical is dedicated to enhancing treatment modalities in this field through comprehensive and efficient clinical solutions. The company has obtained registration certificates for several minimally invasive intrauterine products within the year and will subsequently launch a full portfolio of products in areas such as cervical health, pelvic floor rehabilitation, and gynecological infections, thereby leading technological advancements in the field of gynecological devices. We are honored to partner with Yingzi Medical and support its rapid development under the leadership of its outstanding founding team, ultimately benefiting patients in China.”

Lin Rui, Senior Partner at Fidelity Growth Partners (China), stated, “Women’s health has always been one of Fidelity Growth Partners’ key focus areas. We began deeply cultivating the Chinese women’s health sector as early as 2008 and subsequently co-founded Yingzi Medical. Committed to becoming a leading medical device platform enterprise in the field of women’s health, Yingzi Medical has achieved rapid growth by deploying multiple product lines through a dual-drive strategy of independent innovation and the introduction of advanced technologies. We are honored to have grown alongside the company and will continue to firmly support Yingzi Medical, contributing to the advancement of women’s health in China.”

Xu Bin, a partner at Paradise Silicon Valley (TTGG), stated: “The founding team of Yingzi Medical has been deeply engaged in the field of women’s health for many years and is one of the teams in China with the most sustained, in-depth understanding and service experience regarding the needs of clinicians and patients. As international and domestic levels of medical testing and diagnosis, clinical treatment technologies, and surgical procedures continue to be optimized and improved, there is a growing need for integrated clinical solutions that cover examination, diagnosis, and treatment for specific departments—offering greater therapeutic efficacy, convenience, and cost-effectiveness for both clinicians and patients compared to single devices or pharmaceuticals. With its flagship series of multiple hysteroscopic minimally invasive products, the company aims to rapidly build an internationally leading portfolio covering all gynecological specialties, striving to become a leader in innovative devices and professional clinical solutions in the field of women’s health. We are honored to participate in Yingzi Medical’s mission and vision, accompanying the company as it grows into a great enterprise that creates substantial value for both the healthcare industry and patient well-being.”

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; Hong Kong, 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.

Fidelity Growth Partners is a global proprietary investment firm backed by Fidelity Investments. Leveraging its unique capital structure, Fidelity Growth Partners deploys capital with flexibility to support innovative companies in disrupting or leading their markets, helping entrepreneurs realize their ambitious visions. With investment teams across China, Japan, India, Europe, and the United States, Fidelity Growth Partners manages over $8 billion in assets. The firm focuses on early- and growth-stage investments in the healthcare and technology innovation sectors, having invested in more than 300 high-growth companies. With over 25 years of venture capital experience in China, Fidelity Growth Partners has invested in more than 110 companies in the healthcare and technology innovation fields.

Sequoia China has always been committed to helping entrepreneurs build enduring, great companies by providing portfolio firms with abundant global resources and valuable historical expertise. Over the past 48 years, Sequoia Capital has invested in numerous innovative enterprises and leaders shaping industry trends. As “entrepreneurs behind entrepreneurs,” Sequoia Capital China focuses on investment opportunities in four key sectors: Technology/Media, Healthcare, Consumer Goods/Services, and Industrial Technology. Over the past 15 years, Sequoia Capital China has invested in nearly 600 companies distinguished by their technological strengths, innovative business models, and high growth potential.

Tiantang Silicon Valley (TTGG), established in 2000, is one of the first fund managers in China with a 21-year track record. Adhering to the philosophy of “investors first, value investing, and industry focus,” TTGG specializes in equity investments in information technology, healthcare, intelligent manufacturing, and major consumer sectors. To date, 43 of its portfolio companies have been listed on the A-share or Hong Kong stock exchanges. Committed to leveraging its professional expertise, Tiantang Silicon Valley empowers the growth of entrepreneurial enterprises and delivers value-driven returns to investors based on such growth.