Regenerative Medicine Leader Sibiono Completes Hundreds of Millions RMB Series B Financing to Expand Global Aesthetic Market Presence

VCBeat (WeChat ID: vcbeat) has learned that Changchun Shengboma Biological Materials Co., Ltd. (hereinafter referred to as “Shengboma”) has just completed a new round of financing amounting to hundreds of millions of RMB, led bySino-Ocean Capital, as the strategic investor, led the round; existing shareholders continued to increase their investments; Gelu Capital served as the exclusive financial advisor.. The new funding will be used for the research and development of new technologies and products, as well as for global market expansion.

On May 27, 2021, the polylactic acid (PLA) facial filler produced by Nordberg Medical AB, a wholly-owned subsidiary of Shengboma in Karolinska, Sweden (home to the Nobel Assembly that awards the Nobel Prize in Physiology or Medicine), successfully obtained the EU CE certification. This marks another milestone breakthrough following the approval of China’s first Class III medical device certificate for a PLA facial filler by the National Medical Products Administration (NMPA) at Shengboma’s Changchun factory on April 19, 2021. It realizes the goal of becoming China’s first regenerative medicine enterprise in the medical aesthetics industry to “expand westward,” contributing Chinese strength to the advent of the global era of regenerative medical aesthetics.

Obtaining CE certification signifies that Shengboma’s “Aiweilan-Löviselle” has successfully implemented and localized its craftsmanship and technology in Europe, established a production quality management system compliant with EU regulatory requirements, and completed the construction of a full supply chain meeting EU standards. While this product, originally from Sweden, has gained access to the European Union market, it also means that Aiweilan has secured market access in 65 countries and regions worldwide. The company has simultaneously initiated its FDA application in the United States. “Aiweilan” will help Changchun Shengboma Biological Materials Co., Ltd., which possesses substantial scientific research strength, expand onto a broader international stage.

Changchun Shengboma utilizes internationally leading CAS® polylactic acid raw materials and, through its ultra-controllable degradable polylactic acid microsphere technology, has created China’s first Class III medical device-grade “youth restoration injection.” Compared with similar international products, its three specifications offer significant advantages of “instant reconstitution and nodule-free performance,” disrupting the perceptions of both aesthetic seekers and physicians regarding traditional “youth restoration injections” and delivering greater benefits to them. On July 8, the highly anticipated Shengboma “Aivilan Youth Restoration Injection” was unveiled at Jianye Li in Shanghai. The launch and debut of the Aivilan brand signify that China’s medical aesthetics industry has officially entered the era of regenerative medicine.

Shengboma, led by the team of Academician Chen Xuesi from the Chinese Academy of Sciences, is one of the few high-tech enterprises worldwide with full-chain R&D and manufacturing capabilities spanning from “medical-grade polylactic acid-based polymer materials” to finished absorbable medical devices.

Academician Chen Xuesi has over 30 years of experience in the research and development of biodegradable polymer materials, ranking among the world’s foremost experts in the fields of polymer chemistry and polymer physics.Backed by technical support from the Changchun Institute of Applied Chemistry, Chinese Academy of Sciences, Shengboma is one of the world’s largest manufacturers of medical-grade polylactic acid (PLA) raw materials, offering more than 30 grades of medical PLA products. The founding team of Shengboma pioneered the theory of intramolecular multi-nuclear stereosynergistic catalysis and established an industrialized system for the controlled preparation of medical-grade PLA. They have published over 900 papers in the field of medical polymers and hold more than 300 authorized patents. Their research output in biodegradable synthetic polymer materials ranks first globally in terms of number of publications, citations, and H-index.

Shengboma has built China’s first production line for the large-scale, multi-model manufacturing of medical-grade polylactic acid-based polymer materials in compliance with GMP standards, achieving an annual capacity of 10 tons and receiving high recognition from the expert acceptance group of the Ministry of Science and Technology’s “863” Program.Changchun Shengboma Biological Materials Co., Ltd. has achieved breakthroughs in multiple key technologies for the large-scale production of medical-grade polylactic acid-based polymer materials, establishing scalable manufacturing processes for over 30 raw material varieties, including PLLA, PDLLA, PGA, PLGA, and mPEG-PLGA, and has obtained ISO 13485 certification. Leveraging advanced automated production processes and stringent quality control standards, Shengboma’s raw materials ensure the safety and efficacy of medical device products.

Shengboma’s Proprietary Raw Material – Kays® Polylactic Acid Material Is a Leader in the Biomaterials IndustryShengboma’s proprietary raw material, Kays® polylactic acid (PLA) material, stands at the forefront of the biomedical materials industry. Its production scale, product portfolio, and quality are all internationally leading within the sector. The material boasts numerous competitive advantages, including a wide range of grades, high optical purity, precise control over molecular weight, and minimal monomer and moisture residues at parts-per-billion (PPB) levels.

According to reports, the market size of China’s medical aesthetics industry was approximately RMB 197.5 billion in 2020 and is projected to reach RMB 311.5 billion by 2023, representing a compound annual growth rate (CAGR) of 15.2%. With the rise in national disposable income and the continuous increase in the penetration rate of medical aesthetics consumption, the sector holds substantial growth potential and significant industry dividends.

Among these, injectable medical aesthetic procedures boast higher market acceptance and repurchase rates, with a faster-growing market size. In 2020, the market size of injectable non-surgical medical aesthetics in China exceeded RMB 30 billion, with a CAGR of over 24%. Internationally, Sculptra also uses poly-L-lactic acid as its main ingredient and has nearly 20 years of clinical application history in dozens of countries and regions.

The registration and market launch of “Aivilan” Sculptra fills the gap in China’s regenerative aesthetics market for Sculptra products, meeting the widespread demand among beauty seekers for an enhanced injection experience.

It is reported that this product uses naturally derived poly-L-lactic acid (PLLA) as its primary raw material. After injection, it degrades into L-lactic acid in the body, which is identical to the natural lactic acid found in humans. It effectively stimulates the activity of dermal fibroblasts, promotes endogenous collagen regeneration to fill depressed areas, and improves facial wrinkles and skin texture. By achieving comprehensive facial rejuvenation through volumetric contouring and anti-aging effects, it is known as the “Youth Rejuvenation Injection.”

“Aiweilan” collagen-stimulating injection employs the internationally advanced MEC-SPACE series of patented technologies, enabling rapid dissolution within 20 seconds and excellent dispersion. It demonstrates favorable biocompatibility and clinical safety, with no nodules, redness, swelling, or allergic reactions. The TRI-H controlled degradation series of patented technologies provides a faster onset of action and longer duration of effect compared to similar products.

Driven by its core technological strengths and capital resources, Shengboma, leveraging Caesse® raw materials and centered on the concept of regenerative medicine, will continue to deliver more high-quality products with unique advantages to the global medical and aesthetic medicine industries. It is reported that the product will be officially launched in August this year, providing beauty-conscious consumers with safer, more effective, and more natural product solutions.

In addition to its “Baby Face” injection, Changchun Shengboma Biological Materials Co., Ltd. leverages its proprietary capabilities in fundamental research and industrialization of polymer biomaterials to provide a comprehensive portfolio of medical aesthetic products, continuously launching innovative product solutions driven by clinical needs.

Mr. Wang Jinyue, Chairman of Shengboma, has been deeply engaged in the medical industry for over 20 years and possesses profound insights into the healthcare sector.Regarding the continuous regulatory approvals for Shengboma’s Sculptra-like injection and this round of financing, Mr. Wang Jinyue stated“From project initiation to regulatory approval, Shengboma’s facial rejuvenation injection took over six years of dedicated effort by our entire team. To ensure product quality reaches international leading standards, Shengboma conducted countless exploratory trials in raw material design and large-scale production, ultimately achieving success. Clinical outcomes have garnered high recognition from numerous medical aesthetics experts, demonstrating that our efforts have lived up to the expectations of beauty enthusiasts. We are optimistic about the growth potential of the medical aesthetics industry and are committed to providing more safe and effective medical aesthetic products to consumers.”

Wei Shihan, Managing Director of Sino-Ocean Capital, the strategic investor in this round, stated“We are honored to lead this round of financing. Shengboma and its team of academicians represent the highest global standard in biodegradable technology, with five Class III medical devices already approved and a robust pipeline of product candidates in reserve. In the field of medical aesthetics, Shengboma’s domestically pioneered ‘baby face injection’ will propel the industry from the ‘filler era’ into the ‘regenerative era,’ achieving more natural facial rejuvenation. The company’s globally leading material advantages endow its products with exceptional safety, eliminating risks of embolism and nodule formation. These material advantages will be widely applied across numerous fields, including medical aesthetics, sports medicine, trauma repair, and neurosurgery, driving a revolutionary shift toward ‘absorbability and metal-free solutions.’ YuanYang Capital has made extensive investments in the healthcare sector, cultivating a strong corporate ecosystem in areas such as medical aesthetics and oncology.”

Sino-Ocean Capital was established in February 2013 as a professional institution specializing in alternative asset management. Its business scope includes real estate investment, private equity investment, structured investment, and strategic and innovative investment.

Sino-Ocean Capital has always adhered to the alternative asset management philosophy of prudence, responsibility, synergy, and empowerment. Leveraging its professional and distinctive investment acumen and value discovery capabilities, and through a full-cycle asset management business model encompassing “fundraising, investment, management, and exit” as well as industrial synergy, it helps partners achieve value enhancement, ensures effective management of entrusted funds, and fosters co-creation and shared value. Ultimately, it delivers returns to shareholders and contributes value to society.