VitaVitro Biotech Secures CNY 100 Million Series C Financing Led by CICC Qichen Fund to Advance Global ART Solutions

VCBeat (WeChat: vcbeat) has learned that Shenzhen Weituo Biotechnology Co., Ltd. (hereinafter referred to as “Weituo Bio”) recently announced the completion of its C-round financing, amounting to hundreds of millions of yuan. The round was led by CICC Qichen Fund, under CICC Capital, with participation from Zhangke Herun and Xiangrong Capital. The strong interest from numerous professional investors reflects a high level of trust in Weituo Bio’s team expertise and strategic layout. The proceeds will be primarily used to strengthen product R&D, expand the product pipeline, grow the professional team, and accelerate commercialization, thereby further solidifying Weituo Bio’s leading advantages in core technologies and market presence.

VitaBio is committed to providing cutting-edge technologies in the field of assisted reproduction and delivering integrated solutions for assisted reproduction laboratories worldwide. Since its establishment in 2015, the company has focused on products and technologies related to assisted reproduction laboratories, maintaining rapid growth driven by research and development. Its business scope encompasses the R&D, manufacturing, sales, and technical support of products related to oocyte retrieval, cryopreservation, culture, and embryo transfer. VitaBio has established sales networks in Europe, the United States, and the Asia-Pacific region, initially achieving a global layout and forming the framework of a one-stop service platform for product manufacturing and technical support. In 2021, three of VitaBio’s products—vitrification solution, vitrification thawing solution, and gamete buffer solution—obtained Class III registration certificates from China’s National Medical Products Administration (NMPA). As the first domestically produced reagents of their kind to receive approval, they broke the long-term monopoly held by foreign brands over key technologies in assisted reproduction laboratories.

Weituo Biotech has consistently upheld its core values of “quality first, regulatory compliance, technological innovation, and customer-centricity.” Grounded in a high-standard medical device quality management system and supported by an international R&D team, the company utilizes high-quality raw materials and advanced manufacturing processes. Through professional, customized logistics services, Weituo Biotech provides assisted reproduction laboratories with one-stop solutions ranging from product supply to technical support. Currently, the company’s entire product portfolio has obtained U.S. FDA 510(k) premarket clearance, while select products have secured EU CE certification and China NMPA registration certificates. The company also holds multiple intellectual property rights and invention patents. Weituo Biotech is currently engaged in clinical investigations and scientific research collaborations with several leading reproductive centers in China. It is expected that multiple products will receive China NMPA registration approval over the next two years, thereby accelerating the domestic substitution of products used in assisted reproduction.

Ms. Lin Xiaozhen, General Manager of Weituo Bio, stated, “In 2021, China fully implemented the three-child policy. For the first time, the ‘Decision of the Central Committee of the Communist Party of China and the State Council on Optimizing Fertility Policies to Promote Long-term Balanced Population Development’ explicitly called for regulating the application of human assisted reproductive technologies (ART) and establishing a rationally structured ART service system. This has greatly bolstered our confidence in the assisted reproduction industry. We are also fortunate to work alongside a group of young professionals driven by idealism, who translate their commitment into action to uphold the responsibilities and aspirations of domestic brands as we jointly face various pressures and challenges. Through our dedicated efforts, we aim not only to demonstrate the strength of Chinese innovation in the international market but also to become an industry benchmark both domestically and globally, earning recognition and respect from peers worldwide.”

Ms. Xu Yi, head of the CICC Qichen Fund under CICC Capital, stated, “The relaxation of fertility policies, rising infertility rates, and increased penetration of assisted reproductive technology (ART) are driving the rapid expansion of China’s ART industry. The domestic market for ART reagents and consumables is currently monopolized by imported brands, creating strong demand for localization with significant growth potential. As a leading enterprise in this field, Weituo Bio has developed vitrification freezing/thawing solutions and gamete buffer solutions, which are the first domestically produced ART reagent products to receive regulatory approval in China. Since obtaining approval, the company has rapidly advanced hospital listings, demonstrating its team’s high entrepreneurial enthusiasm and efficient execution capabilities, as well as its strong momentum in product R&D, registration, and sales. We believe that with capital support, Weituo Bio will accelerate the localization of the upstream ART supply chain, expand its business scope, and establish itself as a global provider of comprehensive laboratory solutions for assisted reproduction.”

A representative of the Zhangke Herun Fund stated“Assisted reproductive technology (ART) is a rapidly growing market in China. Coupled with the trend of domestic substitution, we remain firmly optimistic about the industry’s future prospects. Weito Bio possesses unique proprietary technologies, and its product development and regulatory approval progress are at the forefront in China. In particular, the management team demonstrates strong execution capabilities and a global vision, committed to expanding into international markets. We believe that as the company steadily advances its commercialization efforts, it will bring happiness to an increasing number of families.”

Mr. Zeng Yu, Executive Director and General Manager of Xiangrong Capital, stated“China’s assisted reproductive technology (ART) market holds immense potential, driven by urgent clinical needs and favorable policies, making it a prime golden track. Encouraging childbirth and promoting eugenics are vital to the future of our nation and people. By leveraging innovative technologies to address critical clinical demands, Veto helps more couples fulfill their dreams of parenthood. Its products have already achieved multiple ‘firsts’ in the domestic market. We remain firmly confident in the Veto team as they forge ahead to become an industry leader in the field of assisted reproduction.”

CICC Qichen Emerging Industries Equity Investment Fund (the “CICC Qichen Fund”) is a professional direct investment fund managed by CICC Capital Management Co., Ltd. (“CICC Capital”), which also serves as its general partner. CICC Capital is a wholly-owned subsidiary of China International Capital Corporation Limited (“CICC”) and acts as CICC’s private equity investment platform, overseeing its domestic and offshore private fund businesses. To date, CICC Capital manages assets exceeding RMB 350 billion. Leveraging the ecosystem resources of both CICC Capital and CICC, the CICC Qichen Fund consistently seeks relatively certain investment opportunities in high-growth industries, adheres strictly to the principles of value investing amidst market fluctuations, and focuses on investments in technological intelligent manufacturing and healthcare. The fund’s management team comprises professionals with extensive experience in direct investments. Since its inception, the CICC Qichen Fund has made strategic investments in leading enterprises across various niche segments within the technology and healthcare sectors.

The Zhangke Herun Fund is managed by Zhangjiang Sci-Tech Investment, a wholly-owned subsidiary of Zhangjiang Group. The fund focuses on high-quality enterprises with growth potential in life and health-related industries, including innovative drugs, medical devices, and healthcare services. With the Pudong Science and Technology Innovation Fund of Funds serving as the cornerstone investor, the Zhangke Herun Fund operates as a sub-fund that leverages social capital and professional expertise through market-oriented investment and management practices. By adopting mechanisms more closely aligned with the market and optimizing investment processes, the fund aims to meet the growing financing needs of small and medium-sized sci-tech enterprises, thereby driving leapfrog development in technological innovation.

Xiangrong Capital was established in 2018. Its core team possesses extensive experience in managing government-guided funds, having managed the Guangzhou Rural Revitalization Industry Fund and the Guangzhou Municipal Industry and Information Technology Sub-fund, adopting a “fund of funds + direct investment” model. Since its inception, Xiangrong Capital has received numerous accolades, including “Top 50 Best Government-Guided Funds in China,” “Top 10 Best Services for Government-Guided Funds,” and “Top 20 Emerging Investment Institutions in China.” Furthermore, Xiangrong Capital serves as a limited partner (LP) for renowned funds such as Meituan DragonBall Capital, Xinli Capital, Danlu Capital, and Emerging Fund. With distinctive investment capabilities in the life sciences sector, Xiangrong Capital focuses on clinically urgent needs and cutting-edge life science technologies. It has invested in multiple industry-leading companies across key sectors, including cell therapy, bispecific antibodies for oncology, and regenerative aesthetic medicine, striving to become a respected professional investment institution.