Nuanyang Medical Completes Tens of Millions RMB Financing to Accelerate Clinical Registrations and Commercialization

VCBeat has learned that Nuanyang Medical recently announced the completion of a financing round worth tens of millions of yuan. The round was led by Junsheng Capital, with participation from Jiangsu High-Tech Investment Group Co., Ltd., Nantong Xinyuan Investment, existing shareholder Yijing Capital, and Dalton Venture. The funds will primarily be used to advance the clinical registration of multiple core neurointerventional products and to commercialize those that have already received regulatory approval.

Jiangsu Nuanyang Medical Instrument Co., Ltd.Jiangsu Nuanyang Medical Instrument Co., Ltd., established in 2019, is a high-tech enterprise specializing in the research and development, manufacturing, and sales of minimally invasive vascular implantable and interventional medical devices. The company has established office locations as well as production and R&D centers in both Jiangsu and Shanghai. Its core team boasts successful project experience with multiple cardiac stents and over a decade of expertise in the R&D and management of interventional products. The team is proficient in the design and development, quality management, clinical trials, registration processes, and domestic and international regulatory requirements for Class III high-risk interventional devices.

Nuanyang Medical prioritizes technological innovation and product quality, adopting a clinical needs-oriented approach to comprehensively deploy its portfolio across three major categories of neurointerventional products: hemorrhagic, ischemic, and access devices, thereby establishing its own proprietary patent barrier. The company has also built a translation platform based on shared technical pathways across multiple products and maintains close collaborations with renowned domestic hospitals, universities, and key laboratories. Since its establishment, the company has been selected for the 2020 Nantong Jianghai Talent Program and the 2021 Jiangsu Province Mass Entrepreneurship and Innovation Program, earning honors such as “2021 Jiangsu Province Potential Unicorn Enterprise” and “2022 High-Tech Enterprise.”

In 2022, the company achieved significant progress across multiple products: its flagship product, the YonFlow® Flow Diverter Stent System, is undergoing clinical trials at numerous centers across China and is expected to be completed in 2023. It is poised to become the world’s first fully recapturable and redeployable flow diverter stent system independently developed in China. The company’s self-developed YonLegend® Intracranial Balloon Dilatation Catheter, YonTrack® Distal Access Catheter, and YonLeading® Microcatheter have obtained registration certificates from the National Medical Products Administration (NMPA) and are scheduled for commercial launch in 2023. Moving forward, the company will remain committed to being guided by clinical needs, leveraging its strengths to develop domestically produced innovative medical devices with international competitiveness, thereby providing optimal products and services to physicians and patients.

Jia Jing, Founder of Nuanyang MedicalStatement: We extend our sincere gratitude to Junsheng Capital, Jiangsu High-Tech Investment Group Co., Ltd., Nantong Xinyuan Investment, and our existing shareholders, Yijing Capital and Dalton Venture, for their recognition and investment. This support is particularly appreciated given that the overall investment climate in 2022 was impacted by the pandemic and various other factors. 2022 was a year of profound significance for Jiangsu Nuanyang Medical Instrument Co., Ltd. We achieved multiple breakthroughs from scratch to one: conducting our first multi-center, large-sample controlled clinical trial; obtaining our first product registration certificate; receiving our first certification as a High-Tech Enterprise; and experiencing our first encounter with a "capital winter." All these experiences will enable the company to accumulate valuable insights during its development journey and strengthen our confidence to forge ahead and navigate through challenging times. We firmly believe that minimally invasive implantable intervention represents a major sector with substantial market potential, high demands for innovation, and significant technical barriers. Innovation and regulatory compliance are the core values and competitive advantages of our company. Looking ahead, we will deepen our presence and strategic layout in the fields of neurointervention, peripheral intervention, and auxiliary medical care. We also welcome more investment institutions and industry peers to collaborate with us.

Junsheng Capital statedChina is a region with a high incidence of cerebrovascular diseases. In recent years, as the aging trend has become increasingly pronounced, market demand for highly efficient, low-risk neurointerventional devices has grown more urgent. Although competition in the neurointerventional market is intensifying, we hold great expectations and confidence in Nuanyang Medical. The core team at Nuanyang Medical possesses extensive R&D and operational experience in the field of neurointervention. Its flagship products are highly innovative, leading the iteration of neurointerventional device offerings. These innovations significantly enhance product efficacy, reduce surgical risks and procedural complexity, and shorten the learning curve for physicians. We look forward to Nuanyang Medical continuously driving the development of China’s neurointerventional device industry through independent innovation, thereby benefiting more patients.

Jiangsu High-Tech Investment Group Co.,Ltd. stated: The neurointerventional market in which Nuanyang Medical operates offers substantial growth potential, with urgent clinical needs and a clear trend toward domestic substitution. Since its establishment in 2019, the company, under the leadership of Mr. Jia, has rapidly completed the layout of its core product pipeline, achieving differentiated advantages in both structural design and development speed. This investment represents another significant strategic move by Jiangsu High-Tech Investment Group Co., Ltd. in the healthcare sector. We are confident that Nuanyang Medical’s founding team will continue to advance product development to meet the extensive needs of patients.

Nantong Xinyuan Investment statedNuanyang Medical is a premier talent entrepreneurship project in Nantong City, having secured funding from provincial, municipal, and district-level talent programs. The company’s core products boast industry-leading performance, offering broad prospects for import substitution. As biopharmaceuticals constitute one of Nantong’s six strategic emerging industries, we are honored to support Nuanyang’s rapid development in Nantong through the Nantong Jianghai Talents Fund under our management. We look forward to seeing Nuanyang grow into a global leader in the field of neurointerventional medical devices.

Yijing Capital stated: The neurointerventional device market is entering a period of rapid growth, yet the utilization rate of domestically produced devices remains below 10%. As a leading next-generation Chinese neurointerventional device company, Nuanyang Medical boasts a core team that combines R&D expertise in cardiovascular and cerebrovascular medical devices with extensive management and sales experience. The company has established a broad product portfolio, focusing on independent domestic innovation to address clinical pain points, which has earned high recognition from clinical experts. We are delighted to continue supporting the company’s growth. With additional resources, we hope Nuanyang Medical will leverage its robust multi-pipeline R&D and innovation capabilities to accelerate the development and market launch of its products. In doing so, it aims to become a leader in the neurointerventional sector while contributing to the treatment of stroke in China.

Dalton Venture statedDalton Venture has consistently increased its investment in Nuanyang through multiple consecutive funding rounds, and we are delighted to have accompanied the company throughout its growth journey. We are optimistic about Nuanyang’s R&D innovation capabilities and strong execution ability, which enable the team to address real-world clinical pain points and develop forward-looking, innovative products from a clinical perspective. We believe that the next decade will be the “golden decade” for neurointervention, and we look forward to Nuanyang delivering more breakthroughs in the near future, helping to usher the neurointervention industry into a new chapter.

Junsheng Capital is a professional equity investment management firm, with a strategic focus on healthcare, new materials, and pet consumer sectors. In the healthcare domain, Junsheng has invested in high-quality enterprises such as Bairuiji Biotech, Yafei Biotech, Norman Biotech, Ankang Medical, Guizhou Sanli (603439), and Yishi Biotech. By targeting market pain points and prioritizing the needs of patients and physicians, Junsheng aims to drive the development of China’s healthcare industry.

Jiangsu High-Tech Investment Group Co., Ltd. is one of the earliest provincial-level equity and venture capital institutions established in China. For many years, it has adhered to its positioning as “a specialized instrument for the government to implement industrial transformation and upgrading and for state-owned enterprises to execute strategic development layouts, as well as a competitive market-oriented brand investment institution.” The Group focuses on three major business segments: equity investment, asset management, and services supporting policy objectives, continuously optimizing its business layout and enhancing quality and efficiency. As of the end of July 2021, the Group’s cumulative assets under management exceeded RMB 110 billion. It has established more than 100 equity investment funds with diverse strategic focus areas, invested in and supported over 1,000 startups, and facilitated the successful listing of more than 210 portfolio companies on domestic and international capital markets.

Nantong Xinyuan Investment Development Co., Ltd., a subsidiary of Nantong Sci-Tech Innovation Investment Group, primarily invests in emerging industries such as electric power, energy, environmental protection, next-generation information technology, and biopharmaceuticals. The company currently manages multiple funds, including the Nantong Angel Investment Guidance Fund, the Nantong Jianghai Talents Angel Investment Fund, and the Nantong Tongnong Industrial Investment Fund.

Nantong Jianghai Talent Angel Investment Fund is a policy-oriented sub-fund wholly funded by the Nantong Innovation Fund of Funds, with a total scale of RMB 500 million, and is operated and managed by Nantong Xinyuan Company. Adhering to the principles of “government guidance, professional management, and innovation support,” the Jianghai Talent Fund invests in enterprises across the city that have received funding from the Jiangsu Province Mass Entrepreneurship and Innovation Program and the Nantong City Jianghai Talent Entrepreneurship Project through equity investments.

Yijing Capital was established in 2015 and is headquartered in Shanghai. It is a professional investment institution focused on global healthcare, frontier technologies, and new consumption sectors, while also managing funds of funds in these areas. Adhering to the philosophy of “helping enterprises innovate and grow, promoting industrial optimization and upgrading, and driving social progress,” the firm has grown to manage assets totaling RMB 8 billion. To date, six of its portfolio companies have successfully gone public, and another six are recognized as industry unicorns. Many of Yijing Capital’s investments have evolved into influential leaders in their respective niches. In the healthcare sector, these include OpMab, Hanyu Medical, Dayi Group, MedSci, and Weier Nuo Pediatrics; in frontier technologies, Biren Technology, Leapmotor, Lightelligence, Qianxun SI, Silan Microelectronics, and Xin Yuan Semiconductor; and in new consumption, Tasogare Coffee and Zhi Ke Tong.

Dalton Venture focuses on forward-looking medical innovation technologies and serves as the early-stage exclusive investor for multiple pioneering technology projects in China. The core team members all come from the healthcare industry, bringing extensive experience in corporate operations management, investment, and mergers and acquisitions. The Dalton Venture team is highly stable and has built a robust investment ecosystem. Leveraging deep industry expertise and broad, high-quality sector resources, the firm provides strong post-investment support to create high-value returns for its partners. Adhering to the principle of being not only a value discoverer but also a value creator, Dalton Venture has been honored with numerous awards, including VCBeat’s VC TOP 100 and Top 20 in Medical Devices.