Borayer Completes Nearly RMB 100 Million Series B+ Financing Led by Matrix Partners China

VCBeat has learned that BORAYER (Jiangxi Borayer Biotechnology Co., Ltd.), a leader in the biomaterials sector, has announced the completion of its Series B+ financing round, raising nearly RMB 100 million. The round was led by Matrix Partners China, with participation from Detong Capital and additional investment from YuanBio Venture Capital. Kaicheng Capital served as the exclusive financial advisor for this round.

BORAYER, founded in 2017 by a team from Tsinghua University, is a platform-based innovative enterprise with integrated capabilities in product R&D, manufacturing, registration, and sales. Focusing on the research, development, and production of biomaterials, BORAYER is committed to becoming a leader in the biomaterials field. Currently, it has established multiple biomaterial technology platforms and built academic collaborations with numerous renowned Grade IIIA clinical institutions, creating a comprehensive R&D ecosystem. In terms of products, BORAYER provides high-end medical consumables for clinical medicine, including series for rapid hemostasis, wound repair, and tissue regeneration.

Data released by the China Industry Information Network shows that China’s biomedical materials industry has entered a period of rapid development. In 2016, the market size of biomedical materials in China was RMB 173.9 billion. Driven by factors such as national policy support, population aging, rising per capita disposable income, and technological innovation in the industry, the domestic market size for biomedical materials is estimated to have reached RMB 400 billion in 2020.

Globally, the biomedical materials industry in developed countries and regions such as Europe and the United States has a longer development history. Driven primarily by demand for product upgrades and replacements, these markets impose relatively higher requirements on technological sophistication and product quality, featuring a large market scale with stable growth. In emerging markets represented by China, demand for both product adoption and upgrades coexists, resulting in a faster overall market growth rate.

Gan Shaolei, Founder and CEO of BORAYER, stated, “With the rapid development of China’s medical device industry, the biomedical materials sector will also face significant opportunities for growth. Conservatively estimated, China is poised to become the world’s second-largest biomedical materials market within the next decade.”

In the blue-ocean market of biomedical materials, BORAYER has developed a range of products, including medical adhesives, fluid hemostatic agents, and biodegradable nasal hemostatic sponges, backed by its core team with strong R&D capabilities and a leading biomaterials technology platform. The company also maintains dozens of projects in its pipeline.

In terms of the team, BORAYER’s founding team is primarily composed of graduates from Tsinghua University and Peking Union Medical College. It is a strong R&D, interdisciplinary team covering multiple disciplines such as biomaterials, organic chemistry, and clinical medicine.

In terms of technical platforms, BORAYER has established multiple leading biomaterial technology platforms, including those for biological polysaccharides, protein-based extracts, acrylic compounds, biodegradable polyurethanes, and polyethylene glycol derivatives. Leveraging this platform-based system, the company continues to develop a robust product pipeline targeting various tissue sites throughout the human body.

Leveraging its R&D team, technology platform, and collaborations with universities and hospitals, BORAYER has secured over 20 patents. With its high-quality products and strong commercialization capabilities, the company has established sales channels in more than 20 provinces and municipalities, achieving a closed-loop system spanning product development, clinical registration, production, and sales.

As of now, the medical adhesives developed by BORAYER have been approved by the National Medical Products Administration (NMPA), while its fluid hemostatic agents and biodegradable nasal hemostatic sponges are in the clinical registration phase.

Medical AdhesivesIt is a revolutionary product that serves as an alternative to traditional surgical sutures, primarily used for the adhesion of non-chronic wounds such as minor incisions, abrasions, and lacerations. Gan Shaolei introduced, “To use this product, simply crush the internal ampoule to begin application; it is safe, hygienic, and easy to operate. Thanks to its excellent clinical performance and user-friendly design, the product has gained widespread recognition in clinical practice.”

Fluid Hemostatic AgentIt overcomes the application limitations of currently common solid hemostatic materials, such as gauze, sponges, and powders, and is particularly suitable for irregular bleeding wounds, deep or narrow bleeding sites, and minimally invasive laparoscopic surgeries with small incisions, offering excellent clinical operability.

Biodegradable Nasal Hemostatic SpongeAddresses the clinical challenge of new wound formation and secondary bleeding associated with the removal of non-degradable nasal packing materials. The product fully degrades within approximately one week, eliminating the need for removal and alleviating patient discomfort.

In addition, BORAYER’s cutting-edge products, including in vivo absorbable adhesives and subcutaneous tissue fillers, are advancing rapidly and are poised to enter clinical trials. Meanwhile, several of its products are undergoing CE and FDA registration, as the company actively expands into overseas markets.

Gan Shaolei, Founder and CEO of BORAYER, stated: “Next-generation biomaterials should not be merely a simple combination of superficial technologies; rather, they require the support of multiple platform-level technologies. From biological tissue extraction, decellularization, and chemical synthesis to material modification, 3D material shaping, and drug/growth factor loading, these foundational technologies demand long-term accumulation and refinement. Diverse products with varying performance characteristics are derived from different technology platforms, precisely addressing clinical pain points and promptly meeting the needs of continuously evolving scenarios, thereby achieving exponential innovation and upgrades. In the future, BORAYER will continue to root itself in the field of biomaterials, advancing steadily with technological innovation as its means and making tissue regeneration a reality as its mission, striving to become a global leader in the biomaterials industry.”

Sun Linghao, Investment Director at Matrix Partners China, the lead investor in this round, stated, “The medical biomaterials industry has reached an inflection point for industrialization after years of accumulation, with broad prospects in fields such as trauma repair, sports medicine, and medical aesthetics. We have consistently focused on foundational technological innovations in the biomaterials sector. Over the past decade, the BORAYER team has built a multi-product R&D platform based on its proprietary patented technologies, with product quality clearly validated through multiple clinical trials. We look forward to seeing the company become a leading enterprise in this field.”

As an existing shareholder, YuanBio Venture Capital continued to increase its investment in this financing round. Partner Yin Jie stated, “With the maturation of China’s medical device industry as a whole, future industrial opportunities will no longer be confined to import substitution at the level of end-user device products, but will instead continuously extend upstream along the value chain. Only by mastering core materials and foundational technologies can companies secure an invincible position in future competition. By leveraging its expertise in core biomaterial development, manufacturing processes, and its robust biomaterial technology platform, BORAYER is empowered to fulfill its mission of enabling organ regeneration for various human tissues. It has strong potential to become an internationally competitive enterprise in biomaterial technology and tissue regeneration products. We look forward to seeing BORAYER’s innovative products enter clinical trials soon and serve a broad patient population.”