Hisky Medical Secures Over RMB 100 Million in Series B+ Financing to Advance Non-Invasive Liver Disease Diagnostics

Wuxi Hisky MEDICAL TECHNOLOGIES Co., Ltd. (hereinafter referred to as “Hisky Medical”) has recently completed a Series B+ financing round exceeding RMB 100 million. As an industry leader, Hisky Medical currently holds the leading market share in China and ranks among the top globally in the niche segment of non-invasive devices for liver fibrosis detection. This round of investment was jointly participated by Kunpeng Yichuang, Beizeng Capital, Wuxi High-Tech Venture Capital, and Zhonghui Investment. The newly raised funds will be used for market expansion and research and development of new products.

Chronic liver disease is one of the leading causes of the global disease burden and represents a significant public health challenge in China, threatening the health of hundreds of millions of Chinese citizens. According to the WHO 2015 Global Burden of Disease Report, 62.5% of global liver disease deaths attributable to viral hepatitis, alcoholic liver disease, and fatty liver disease occur in the Asia-Pacific region (1,312,480 out of 2,095,207).

Typically, the progression of chronic liver disease follows a triad of “liver fibrosis–cirrhosis–hepatocellular carcinoma.” Due to the absence of nociceptive nerves in the liver and the limitations of conventional clinical diagnostic techniques—such as liver biopsy, serum liver function tests, and imaging modalities—a significant proportion of patients with liver disease fail to detect early-to-mid stage fibrosis during routine screening. Consequently, they miss critical windows for intervention and treatment, ultimately progressing to cirrhosis and hepatocellular carcinoma.

Hisky is dedicated to transforming the current landscape in which early and convenient detection of liver fibrosis remains unattainable. In collaboration with Tsinghua University, the company has engaged in over a decade of continuous research and development in the field of transient elastography for liver assessment. Its core brands, iLivTouch and FibroTouch, have become globally mainstream solutions for non-invasive liver testing, widely used for early screening, diagnosis, and treatment evaluation of liver diseases. By simply placing the probe on the skin, clinicians can obtain the Liver Stiffness Measurement (LSM) and Ultrasound Attenuation Parameter (UAP) within just two minutes, offering the advantages of being non-invasive, accurate, quantitative, and convenient.

Currently, this technology has been recommended as a Class A1 indicator for the diagnosis of liver fibrosis by authoritative medical organizations, including the World Health Organization (WHO), the American Association for the Study of Liver Diseases (AASLD), the European Association for the Study of the Liver (EASL), the Asian Pacific Association for the Study of the Liver (APASL), and the Chinese Society of Hepatology (CSH) of the Chinese Medical Association. The related products can be widely applied in various departments of healthcare institutions with needs for liver testing, such as hepatology, infectious diseases, endocrinology, hepatobiliary surgery, gastroenterology, ultrasonography, health examination centers, and community outpatient clinics, thereby enabling comprehensive, full-cycle assessment of liver health status.

As an industry-leading enterprise with independent proprietary technologies, Hisky has continuously received support from key national science and technology initiatives, including the National 12th Five-Year Plan for Science and Technology Support and the National 13th Five-Year Plan Major Science and Technology Projects. To date, the company has filed more than 400 patent applications, with over 200 patents granted, and published more than 200 related research papers. It has been honored with numerous awards, such as the Excellence Award in Chinese Patents at the 20th and 21st editions, the Beijing Municipal Science and Technology Award, the Hebei Provincial Science and Technology Award, and the Jiangsu Provincial Science and Technology Award. Its products have obtained certifications from authoritative domestic and international bodies, including China’s NMPA, the U.S. FDA, the EU CE mark, South Korea’s KFDA, and Russia’s GOST-R.

Hisky’s products are currently used in thousands of medical institutions across China, including top-tier hospitals such as Peking Union Medical College Hospital, Chinese PLA General Hospital, Beijing Friendship Hospital, Beijing Ditan Hospital, Beijing Tiantan Hospital, Tsinghua University Changgung Hospital, Huashan Hospital (Shanghai), Zhongshan Hospital (Shanghai), Ruijin Hospital (Shanghai), Xinhua Hospital (Shanghai), Shanghai General Hospital, Changhai Hospital, The First Hospital of Jilin University, The First Hospital of China Medical University, Shengjing Hospital, The Third Hospital of Hebei Medical University, Qilu Hospital of Shandong University, The First Affiliated Hospital of USTC, Jiangsu Province People’s Hospital, Nanjing Drum Tower Hospital, The First Affiliated Hospital of Zhejiang University, The First Affiliated Hospital of Zhengzhou University, Xiangya Hospital of Central South University, Wuhan Union Hospital, Wuhan Tongji Hospital, Sichuan Provincial People’s Hospital, West China Hospital of Sichuan University, Nanfang Hospital, The Third Affiliated Hospital of Sun Yat-sen University, Southwest Hospital, and Xijing Hospital. These products are also rapidly expanding into primary healthcare institutions. Meanwhile, Hisky’s related products have gone global; as a representative of China’s high-end medical equipment technology, they have been exported to more than 30 countries, serving hundreds of overseas medical institutions.

At the 69th World Health Assembly in 2016, countries adopted the Global Health Sector Strategy on Viral Hepatitis, setting a goal to eliminate the public health threat of viral hepatitis by 2030 and increase the treatment rate for infectious liver diseases to over 80%. In 2020, an international expert panel renamed non-alcoholic fatty liver disease (NAFLD) to metabolic dysfunction-associated fatty liver disease (MAFLD), recognizing fatty liver as the hepatic manifestation of metabolic disorders such as obesity, type 2 diabetes mellitus (T2DM), and metabolic syndrome. The experts also recommended using the degree of liver fibrosis as an indicator for assessing the severity of fatty liver disease and for risk stratification management. In the foreseeable future, with growing clinical and public health attention to liver diseases, both infectious and non-infectious, there will be a substantial demand for early screening and diagnosis.

In June 2021, at the inaugural National Hard Tech Enterprise Summit, Hisky was selected as one of the “Top 100 Stars of China’s Hard Tech Enterprises.” Dr. Shao Jinhua, CEO of Hisky, stated that the successful completion of this new round of financing would accelerate the market launch of Hisky’s innovative products in the fields of liver diseases, gastrointestinal tumors, and breast diseases.

Over the past five years, Hisky has continuously invested in research and development and strategically positioned itself across multiple innovative fields. Its related products are being progressively launched into the market, including: a new generation of liver screening and diagnostic solutions based on the globally pioneering MigTE technology, which provides multi-dimensional information such as elasticity, viscosity, and radiofrequency data for liver assessment; non-invasive diagnostic equipment that offers more multimodal information than existing technologies for the screening and diagnosis of lesions in superficial organs such as the thyroid and breast; and optical biopsy products that serve as powerful tools for the non-invasive diagnosis and targeted biopsy of gastrointestinal tumors.

Luo Zaihong, General Manager of Kunpeng Yichuang, stated: Hisky is a rare enterprise in China’s high-end medical equipment sector that has successfully filled technological gaps and achieved market leadership. Both Hisky’s existing products and its newly planned offerings are high-end medical devices with hard-tech attributes that hold significant importance for public health in China. The Hisky team’s continuous innovation capability is truly impressive. The company’s strategic direction aligns closely with the investment focus of Kunpeng Yichuang Strategic Emerging Industry Fund, and we are honored to participate in and support Hisky’s future development.

Cheng Siyi, Partner at Qianhaibei Zeng, statedChronic liver disease affects the health of hundreds of millions of people worldwide. Early screening and diagnosis of liver fibrosis represent a critical yet long-standing challenge in addressing liver disease that has not been adequately resolved for many years. Hisky’s innovative technologies and products have been adopted and recognized by thousands of medical institutions, demonstrating significant potential for grassroots application and international expansion. The Hisky team has successfully navigated the complete pathway from innovation to commercialization. We eagerly anticipate that the company’s innovative products in fields such as gastrointestinal tumors and breast diseases will soon benefit public health. VCBeat Capital will continue to support Hisky’s development.

Dai Xin, Partner at Wuxi High-Tech Venture Capital, stated: Hisky is a high-end medical equipment enterprise cultivated locally in Wuxi and a key startup supported by Wuxi City for top-tier talent entrepreneurship. As a high-tech investment institution primarily composed of state-owned capital from Wuxi High-Tech Industrial Development Zone, Wuxi City, and Jiangsu Province, we have witnessed Hisky’s growth trajectory, steadily expanding from Wuxi High-Tech Industrial Development Zone to the global market. We highly recognize the achievements the company has made and are honored to accompany Hisky in its future development. We look forward to working closely with the Hisky team to achieve even greater success.

Li Yong, Fund Manager at Zhonghui Fund, stated: Hisky is a typical example of the development of high-end medical equipment in China and a successful case of industrial transformation of medical engineering at Tsinghua University, which is very much in line with the layout of technology + industry of Zhonghui Fund. Zhonghui Investment is very honored to participate in this financing of Hisky. Zhonghui will link resources to provide continuous support for the subsequent development of Hisky.

The Kunpeng Yichuang Strategic Emerging Industries Fund is an industrial fund established by Shenzhen Kunpeng Equity Investment Co., Ltd., First Capital Investment Management Co., Ltd., and the Shenzhen Futian Guidance Fund, among others. The fund focuses on strategic emerging industries and future industries, with particular emphasis on high-end equipment manufacturing, biopharmaceuticals, and other policy-supported sectors. Its investment portfolio includes dozens of industry-leading companies such as Chang Guang Satellite, Wuxi Hisky Medical Technologies Co., Ltd., and Yingsite Rare Magnetic New Materials.

Shenzhen Qianhai Beizeng Asset Management Co., Ltd. is a professional investment management firm dedicated to the broader healthcare sector. Its investment management team comprises professionals from publicly listed pharmaceutical companies, large enterprise groups, and specialized investment institutions, bringing extensive expertise in equity investment, mergers and acquisitions, corporate venturing, and operational management. Adhering to the philosophy of “Focusing on Innovation, Discovering Value, and Empowering Portfolio Companies Post-Investment,” the company grows alongside China’s leading innovative enterprises and has invested in dozens of outstanding companies, including Wuxi Hisky MEDICAL TECHNOLOGIES Co., Ltd., Sorrento Therapeutics, and Zhongyi Anke.

Wuxi High-Tech Venture Capital Co., Ltd. is the third specialized venture capital firm in Jiangsu Province and the first in Wuxi. The company focuses on investing in local high-tech enterprises in Wuxi with high-growth potential, prioritizing sectors such as electronic information, new energy, new materials, mechatronics, biopharmaceuticals, and environmental protection and energy conservation. It has provided long-term support to numerous companies, helping them achieve initial public offerings (IPOs).

Zhonghui Equity Investment Fund Partnership is an industrial fund that aligns with national and governmental industrial policies, focusing on supporting technology-driven innovative enterprises and strategic emerging industries. Its investment portfolio spans areas such as technology industrial parks, new materials, medical equipment, and artificial intelligence.