3D Printing Pharmaceutical Leader Sanchi Medical Completes Nearly RMB 100 Million Series A+ Financing Led by Daotong Investment

VCBeat (WeChat ID: vcbeat) has learned that Nanjing 3D Matrix Pharmaceutical Technology Co., Ltd. (“3D Matrix”) recently completed an A+ financing round of nearly RMB 100 million. The round was led by Dalton Venture, with participation from Mr. Zheng Xiaodong, Chairman of Shanghai Tofflon Science and Technology Co., Ltd., and Yun Qi Partners. The proceeds will be primarily used for the development and regulatory filings in China and the United States of 3D Matrix’s 3D-printed drug products, as well as for the construction of large-scale production lines.

Triastek was founded in July 2015 by Dr. Senping Cheng, an entrepreneur with startup experience in both China and the United States, and Dr. Xiaoling Li, an expert and educator in the U.S. pharmaceutical formulation industry. Triastek is an international pharmaceutical company driven by the dual cores of 3D-printed drug R&D and equipment development. It is committed to building a novel 3D-printed drug technology platform, establishing proprietary technologies that cover the entire chain from drug dosage form design and development methods to intelligent manufacturing. Triastek’s vision is to become a global leader in the field of 3D-printed pharmaceuticals and pioneer a new era of smart pharmaceutical manufacturing.

Triastek’s globally pioneering Melt Extrusion Deposition (MED™) 3D printing technology is a novel approach broadly applicable to solid dosage forms. By leveraging unique internal three-dimensional structures of pharmaceutical formulations, this technology enables precise control over the timing, location, and rate of drug release. It allows for flexible combination of drug release profiles, thereby enhancing therapeutic efficacy, reducing side effects, and improving patient friendliness. Triastek has pioneered the Formulation by Design (3DFbD™) approach to formulation development, which significantly improves the efficiency and success rate of drug product development while reducing development time and costs. The MED™ 3D printing technology is scalable for industrialization; its continuous manufacturing process, integrated with Process Analytical Technology (PAT), substantially enhances product quality, lowers production costs, and facilitates regulatory oversight. This emerging technology disrupts traditional methods of formulation development and manufacturing, aligning with the U.S. FDA’s recent advocacy for promoting pharmaceutical innovation and modernization through the research and application of emerging technologies.

Note: Leveraging MED 3D printing technology and integrating the innovative pharmaceutical concept of “Quality by Design,” Triastek has successfully achieved precise control over drug release (“Release by Structural Design”), efficient development of formulation products (“Formulation by Dosage Form Design”), and high-quality intelligent manufacturing of pharmaceutical products (“Quality by Process Design”). This has established a comprehensive end-to-end technological platform that addresses technical challenges in solid dosage forms.

This YearIn April, Triastek's MED 3D printing technology was selected by the U.S. FDA Emerging Technology Program (ETP). Triad becomes the first company in China to be selectedFDAPharmaceutical companies with emerging technology projects.In July, Triastek was invited by the United States Pharmacopeia (USP) to participate in the development of futureIndustry Standards for 3D-Printed Pharmaceuticals。

Note: MED™ 3D Drug Printing System (Prototype Production Line)

Intellectual property-driven development is a key strategic priority for Triastek. In the global field of 3D-printed pharmaceuticals, Triastek has established the most comprehensive patent portfolio and filed the highest number of applications, with 18 patent families comprising 108 patent applications. These patents comprehensively cover the design of three-dimensional structural dosage forms for 3D-printed drugs, 3D printing pharmaceutical equipment, and drug product development methodologies. Its core patents are strategically deployed in major global pharmaceutical markets, including China, the United States, Europe, and Japan.

Triastek has more than ten 505(b)(2) product pipelines in the global market, encompassing three categories: blockbuster drugs, orphan drugs, and complex drug delivery technologies. By modifying the pharmacokinetics of drugs, Triastek develops products with greater clinical value, utilizing drug delivery technologies that are unachievable or difficult to achieve with existing controlled-release methods. These products are resistant to imitation and iteration, ensuring a prolonged period of market exclusivity. The first product, indicated for the treatment of rheumatoid arthritis, is poised to submit an Investigational New Drug (IND) application to the U.S. FDA, with plans to file a clinical trial application with China’s National Medical Products Administration (NMPA) next year. Recently, Triastek also plans to submit Pre-IND (PIND) applications to the U.S. FDA for its second and third products.

Triastek positions itself as a 3D-printed pharmaceutical technology platform company, with two primary business models. The first involves the independent development of 505(b)(2) products, pursuing international regulatory approvals in the United States, Europe, Japan, and China, and licensing global commercial rights to pharmaceutical or commercial companies. The second entails collaborating with pharmaceutical or biotechnology companies to develop new compounds or 505(b)(2) products, with Triastek responsible for formulation development and drug manufacturing.

This year, Triastek has established technical collaborations with multinational pharmaceutical companies as well as domestic pharmaceutical enterprises, leveraging 3D printing technology to address formulation challenges in the development of new chemical entities and to facilitate the development of modified-release drugs that pose difficulties for conventional controlled-release technologies.

Dr. Cheng Senping, Founder and CEO of Triastek, stated: Over the past five years, Triastek has successfully established an industrialized technology platform for MED 3D-printed pharmaceuticals, explored and clarified the regulatory submission pathway, and garnered attention and recognition from investors. At present, Triastek has entered a period of rapid growth in product development and business expansion. The capital injection from new shareholders will accelerate the development of multiple drug product pipelines, expand production capacity, and support Triastek in realizing its vision of pioneering a new era of intelligent pharmaceutical manufacturing.

Mr. Sun Qi, Founding Managing Partner of Dalton Venture, stated: We are honored to serve as the lead investor in this round, participating in the investment in Triastek. Triastek’s MED 3D-printed drug technology has the potential to revolutionize global production technologies for controlled-release formulations, further enhancing the precision of drug release in vivo. This not only reduces dosing frequency and facilitates medication administration, thereby improving patient adherence and compliance, but also minimizes fluctuations in plasma drug concentration, ensures complete absorption, and reduces adverse effects and gastrointestinal irritation. We are delighted to partner with Dr. Cheng Senping’s team and support Triastek’s growth. We believe that, leveraging its strong innovation capabilities and broad international vision, the company will develop more products with international competitiveness in the future, addressing the needs of a vast patient population.

Mr. Zheng Xiaodong stated: Triastek has introduced entirely new concepts and methodologies to pharmaceutical formulation development. Triastek will provide modernized equipment and technologies for intelligent global pharmaceutical manufacturing. I look forward to jointly witnessing the future of Triastek!

Mr. Mao Chengyu, Founding Partner of Yun Qi Partners, stated:Yun Qi Partners focuses on investing in the empowerment of traditional industries through new technologies. As an emerging pharmaceutical technology of the future, 3D printing holds broad development prospects in the pharmaceutical field. The team comprises top-tier talent in both advanced manufacturing and drug R&D, with years of profound accumulation in the industrialization of MED 3D-printed drugs. We look forward to the company’s further development in technology innovation and business expansion, growing into a world-class, platform-based pharmaceutical enterprise specializing in 3D printing.

Dalton Venture focuses on early-stage investments and industry M&A in the healthcare sector, with investment areas covering medical devices, healthcare services, biopharmaceuticals, and healthcare informatics. The core team members all come from the healthcare industry, possessing extensive experience in corporate operations management, investment, and mergers and acquisitions. They have both entrepreneurial experience in incubating early-stage companies and experience managing listed companies with a market value of tens of billions. In the field of medical innovation technology, Dalton Venture has made in-depth strategic layouts. The investment team at Dalton Venture is highly stable and has built a robust investment ecosystem. Leveraging deep industry expertise and broad, high-quality industry resources, they provide strong post-investment support to create high-value returns for their partners.

Mr. Zheng Xiaodong is the Chairman of Shanghai Tofflon Science and Technology Co., Ltd. (SZ: 300171). Established in 1993, Tofflon is a comprehensive pharmaceutical equipment supplier that provides integrated solutions encompassing pharmaceutical processes, core equipment, and systematic engineering for pharmaceutical enterprises worldwide. Its products are applied in areas such as injectables, solid dosage forms, chemical active pharmaceutical ingredients (APIs), bioengineering, traditional Chinese medicine (TCM), healthcare, and food. Looking ahead, Tofflon aims to evolve from a “system solution provider” into a “deliverer of smart pharmaceutical factories,” serving the global pharmaceutical industry.

Yun Qi Partners, established in 2014, specializes in early-to-growth stage investments focused on “technology-enabled industrial upgrading,” covering sectors such as artificial intelligence and big data, intelligent connected devices, advanced manufacturing, enterprise SaaS and services, and B2B supply chain platforms. The investment team boasts diverse backgrounds from various industries and fields, with extensive experience in investment, industry operations, and the internet sector. Team members hail from leading organizations including IDG Capital, GGV Capital, Google, Foxconn Group, Schneider Electric, and PwC. The firm has invested in nearly 100 outstanding startups. Yun Qi Partners has received numerous accolades, including “Zero2IPO 2018 Top 50 Venture Capital Firms,” “CVCRI 2019 China’s Top 20 Growth-Oriented VC Firms,” and “36Kr 2019 China’s Top 20 Dark Horse Funds.”

Life Capital served as the financial advisor for this round of financing.