Beijing Shanghuihao Medical Secures $10M Series A to Pioneer PRP Market with Innovative Autologous Platelet-Rich Plasma Solutions

With the maturation of extraction technologies for commercial platelet-rich plasma (PRP) products and platelet activation techniques, new hope has emerged for the early- to mid-stage treatment of bone, joint, tendon disorders, and sports injuries, while also providing hospital rehabilitation departments with novel therapeutic options. As an emerging therapeutic modality, PRP technology has been applied in Europe and the United States for a decade. Leveraging its innate tissue repair capabilities, this technology has gradually been adopted across various medical specialties, including orthopedics, plastic surgery, neurology, and cardiac surgery.

Although diseases of the bones, joints, and tendons, as well as sports injuries, are not life-threatening and can be treated through surgical interventions, postoperative care often requires family members to provide bedside assistance and manage toileting needs for several months. Under the current societal pressure of demanding and stressful work environments, this imposes a significant psychological burden on some families.

With the emergence of PRP technology—a new minimally invasive treatment involving a single injection of autologous platelet-rich plasma—patients can be discharged from the hospital within 24 hours and resume ambulation the following day, representing a significant relief for patients.

Such an excellent product is sold by only one company in Shandong Province within China, and the approved scope of application for the product is limited.

According to a conservative estimate from TMR's research report in the United States:In 2017, the global market value of platelet-rich plasma (PRP) therapy was $195.2 million. With a compound annual growth rate (CAGR) of 12% in 2018, the global market value is projected to reach $543.5 million by 2026.。

As the application of platelet-rich plasma (PRP) expands, its market size is inevitably growing. Previously, there was only one domestic player in this market. Gu Jiangning, founder of Beijing Shanghuihao Medical Devices Co., Ltd., identified this market opportunity and entered the field. The company’s product has completed clinical trials and is poised for regulatory approval and market launch. In light of this development, VCBeat has published an in-depth report on the company.

Platelet-rich plasma (PRP) is a human-derived, platelet-concentrated plasma product. It offers advantages such as no risk of disease transmission or immune rejection, along with convenient sourcing, simple preparation, and reasonable cost. The entire PRP injection procedure takes only 10 minutes. Its platelet concentration is more than 3 to 8 times that of venous blood.

Since scientists discovered in 1984 that it contains various growth factors capable of accelerating cell differentiation, development, and maturation, platelet-rich plasma (PRP) has been investigated and developed as a novel therapeutic modality for clinical application.

In clinical practice, platelet-rich plasma (PRP) is primarily applied in orthopedic repair, sports medicine injuries, plastic surgery, burn care, and cardiac surgery. Notably, in the field of plastic surgery, PRP has been incorporated into clinical practice guidelines. As awareness and understanding of PRP deepen, an increasing number of medical specialties are adopting PRP products for tissue repair applications.Its efficacy in the repair of bone, cartilage, and skin mucosa has been validated by tens of thousands of experimental studies.。

Initially, PRP was applied in oral surgical procedures within the field of plastic and reconstructive surgery. Physicians utilized it for the repair of maxillary defects. Prior to this, previous surgical approaches involved placing artificial bone and allogeneic bone at the defect sites, yielding unsatisfactory outcomes. With the addition of PRP, both the rate of healing and the overall repair efficacy improved significantly.

Growth factors released by PRP significantly promote tissue healing. Studies have shown that PRP contains concentrated leukocytes, which possess bacteriophagic activity. As body cavities are contiguous with the external environment and harbor abundant bacteria, wound infection can impair healing; the presence of leukocytes helps prevent such infections.

Currently, PRP is the only FDA-approved preparation for dental applications that derives its growth factors from endogenous sources; recombinant growth factor products produced via in vitro culture have not been approved for market release.。

Building on this technology, plastic and reconstructive surgeons have developed a minimally invasive technique for facial regenerative repair: ACR. This approach leverages the synergistic action of multiple growth factors to jointly repair damaged skin texture, restoring skin elasticity and youthful vitality.

PRP Injection for Wrinkle Reduction, Beauty Enhancement, and Anti-Aging involves injecting platelet-rich plasma (PRP) into the superficial dermal layer. Upon activation, PRP releases a substantial amount of growth factors that promote the proliferation and differentiation of fibroblasts, stimulate collagen secretion and elastin fiber production, and facilitate fiber rearrangement. This process restores skin resilience and elasticity, thereby more effectively achieving facial skin lifting and muscle tightening.

The product not only reduces wrinkles, eliminates eye bags, and delays aging, but also demonstrates significant efficacy in treating dark circles, enlarged pores, rough skin, skin laxity, dull and sallow complexion, and hair loss.

The efficacy of PRP injections in wrinkle reduction, anti-aging, and wrinkle removal has been widely recognized in Europe, the United States, Japan, and other countries, while its application in China’s aesthetic medicine sector is still in its early stages.

In terms of tendon injury, PRP, as a novel non-surgical treatment modality, has begun to be widely applied and is expected to become the most effective minimally invasive therapeutic approach. Tendon disorders are relatively common among athletes and individuals with high levels of physical activity. Compared with traditional “corticosteroid injection therapy,” PRP demonstrates significant advantages in functional recovery, pain relief, and patient satisfaction with treatment outcomes. PRP can accelerate the repair and reconstruction of ligaments or tendons and provide sustained improvement in patients’ symptoms.

In the repair of bone defects, the therapeutic efficacy of PRP is also significant, as it not only accelerates new bone formation but also improves the quality of newly formed bone. Intra-articular application of PRP not only ameliorates synovial inflammation and inhibits the progression of joint inflammation, but also enhances the capacity for cartilage regeneration and repair as well as meniscal injury repair.

Research on PRP began in Europe and the United States more than 30 years ago, with commercialization having been achieved for approximately 20 years. To date, the U.S. FDA and the EU CE have collectively approved more than 10 different models of PRP products.

Representative products include the US-based Sun Hat and GSP. Additionally, corresponding products from Germany and South Korea have also received approval for market entry. Currently, in China, only one PRP product from Shandong Weigao has obtained CFDA approval, with its sales exceeding RMB 100 million in 2018.

Shandong Weigao’s approved product carries specific indications and is indicated for closed fracture injuries. Although its application scope is limited, its sales exceeded RMB 100 million in 2018.

U.S. TMR (Transparency Market Research) Research Report: The global platelet-rich plasma therapy market was valued at USD 195.2 million in 2017, grew at a compound annual growth rate (CAGR) of 12% in 2018, and is projected to reach USD 543.5 million by 2026.

Gu Jiangning stated that, in addition to Shandong Weigao, products from two companies based in Switzerland and South Korea are currently being launched and sold in the domestic market. The market size estimated by U.S.-based TMR is relatively conservative.

Both the orthopedics and medical aesthetics markets in China are booming. In particular, according to data from the 2016 Gengmei Medical Aesthetics White Paper, the scale of China’s medical aesthetics market was projected to reach RMB 796.3 billion in 2016, with an annual growth rate nearing 20%, and was expected to surpass RMB 1 trillion by 2019.

The number of people receiving medical aesthetic treatments is increasing, and the market size is far greater than this figure.

Gu Jiangning stated that the R&D threshold for PRP products is not particularly high; a medical device company can develop them by investing substantial human and material resources. However, there are only a limited number of structural configurations eligible for PRP registration. The advantage of Beijing Shanghuihao Medical Devices Co., Ltd. lies in its early market entry, which allowed it to seize the first-mover advantage.

Currently, the company has secured a patent for one structural design, and the research and development of subsequent product series are progressing steadily. Even if other companies attempt to enter this market, Beijing Shanghuihao Medical Devices Co., Ltd. is confident in its ability to secure additional patents and certifications first.。

In terms of product R&D, Shanghuihao Medical’s products have completed clinical trials. Regarding the acquisition of Class III medical device registration certificates, the products are expected to receive certification between May and June next year, at the latest by October.

To enable the product’s use across more departments and in a wider range of disease scenarios, the company has developed more than 10 product specifications and models during its R&D process, whereas most competitors on the market offer only one or two models. Different models are suited to different clinical scenarios; for example, the smallest 5 mL specification can be used for oral restoration, while the 120 mL package is suitable for spinal repair.

Furthermore, Beijing Shanghuihao Medical Devices Co., Ltd. is at the international forefront of platelet activation and release technology. Research and development of bone marrow stem cells and second-generation PRP/PRF are also underway.

Preparations for this project began in 2012. Prior to this, Gu Jiangning spent four years in clinical practice at a hospital, followed by five years as a lecturer in microbiology and immunology at a medical university, building a strong foundation in scientific research and theory. He subsequently transitioned to the commercial sector, accumulating six years of experience in medical device sales and marketing, along with extensive expertise in the design and implementation of medical research projects. The quality control and production departments are also overseen by personnel with many years of industry experience.

In 2012, Gu Jiangning co-founded Beijing Shanghuihao Medical Devices Co., Ltd. with partners, embarking on a commercialization path. The company’s R&D team is guided by Ph.D. holders from Yale University and experienced clinical experts.

In the early stages of its founding, Gu Jiangning and Jishui Tianyou jointly invested RMB 10 million to establish the company. In 2016, the company completed a Series A financing round of RMB 10 million, with investors including Shanghai Shijian Yeyi, Qiaojing Capital, and Jishui Tianyou.

While conducting product research and development, Beijing Shanghuihao Medical Devices Co., Ltd. is also preparing its market and channel strategies. Strategic partnersIt specializes in the sales of medical devices, with over 20 branch offices across China and cooperative relationships with more than 3,000 hospitals.. Thanks to the strong support from shareholders and extensive collaborative projects, we will gain a competitive advantage in future market expansion.

Following the completion of clinical trials, Beijing Shanghuihao Medical Devices Co., Ltd. has strengthened its research collaborations with hospitals, laying the groundwork for future initiatives. These collaborative projects span multiple specialties, including orthopedics, neurology, plastic surgery, and endocrinology.