Healthcare Weekly Report: BrainCo Files for STAR Market IPO; Shandong Tianyi Hongda Secures Strategic Investment from Provincial State-Owned Capital

Neuracle Submits Prospectus

On June 11, Neuracle’s IPO application for the STAR Market was officially accepted by the Shanghai Stock Exchange. This Tsinghua-affiliated company, which has been deeply engaged in brain-computer interface (BCI) technology for over a decade, is poised to become the “first A-share BCI stock.” According to Neuracle’s prospectus, the company, founded in 2011 at the Tsinghua University Neural Engineering Laboratory, made a distinctive choice from the outset: it avoided the consumer-grade sector, which features low entry barriers and rapid monetization, and instead firmly committed to the medical invasive BCI field, which presents the highest technical challenges and the strictest regulatory oversight. (Source: Sina Finance)

Shandong Tianyi Hongda Secures Strategic Investment from Provincial State-Owned Assets

Shandong Tianyi Hongda Biotechnology Co., Ltd. Completes First Round of Strategic FinancingShandong Tianyi Hongda Biotechnology Co., Ltd. has completed its first round of strategic financing, securing investment from Changjiang Gengzhi Innovation Development Entrepreneurship Investment Fund (Hubei) Limited Partnership at a pre-money valuation of RMB 400 million. The fund has become the company’s second-largest shareholder. No financial advisor was disclosed. Established in 2024, Tianyi Hongda focuses on bioengineering and high-end bio-based chemicals. The total investment for the company’s Phase I project amounts to RMB 700 million. Its 35,000-ton/year bio-based succinic acid project is expected to commence production in December 2026, while the 10,000-ton/year bio-based BDO project is slated to start production in the first quarter of 2027. (Source: Sina Finance)

Bayer and Peking University Continue to Deepen Cooperation

Bayer and Peking University Sign Phase V Strategic Cooperation Agreement on June 11On June 11, Bayer and Peking University signed their fifth-phase strategic cooperation agreement. The two parties will explore new targets and disease pathogenesis in key therapeutic areas including oncology, cardiovascular and renal diseases, neurology, and immunology; enhance AI-enabled drug discovery capabilities; and fully leverage target identification platforms and insights into drug molecular formats to further facilitate the translation of research findings into drug discovery and innovation, thereby accelerating the application of cutting-edge technologies across the pharmaceutical R&D value chain. (Source: Arterial Network)

Consun to Acquire 30% Equity Stake in Shanghai Huamao Pharmaceutical Co., Ltd.

Recently, Consun Pharmaceutical Group, a wholly-owned subsidiary of Consun, will acquire a 30% equity stake in Shanghai Huamao Pharmaceutical for RMB 191.4022 million. The acquisition will be conducted through equity purchase and cash capital injection. As a supplier to Consun, Shanghai Huamao Pharmaceutical will enable both parties to achieve strategic premium and deep synergy in core pipelines post-acquisition, realizing vertical integration to improve quality and reduce costs; extending and breaking through in the nephrology field to perfect full-process solutions; strengthening supply assurance for women's and children's health businesses to expand market reach; sharing R&D and production capacity resources to enhance operational efficiency; and laying out high-value-added tracks in synthetic biology to cultivate new performance growth points. (Source: Sina Finance)

Hyus Meditec Completes Tens of Millions in Financing

Recently, Hyus Meditec (Shenzhen) Co., Ltd. (“Hyus Meditec”), a leading ultrasound platform enterprise in China, announced the completion of a new round of financing amounting to tens of millions of yuan, led by Hetang Investment. The completion of this financing marks a critical step for Hyus Meditec in the industrialization of its full-chain core ultrasound technologies and underscores the capital market’s strong recognition of innovative forces in China’s high-end domestic ultrasound sector. (Source: Arterial Network)

DPBIO Completes Over RMB 120 Million in Series B+ Financing

DPBIO Completes Over RMB 120 Million in Series B+ FinancingRecently, Dropx Biotech Limited (“DPBIO”) has completed its Series B+ financing round, raising over RMB 120 million. This round involved three consecutive closings within six months and received support from several leading investment institutions, including the Intellectual Property Fund of Shanghai Science and Technology Innovation Group, Shenzhen Nanshan Strategic Emerging Industry Investment, Shanghai Pudong Venture Capital, and Guangzhou Haihui Investment. To date, DPBIO’s cumulative financing exceeds RMB 300 million, fully demonstrating the capital market’s high recognition of the company’s technological barriers, commercialization capabilities, international layout, and long-term growth potential. (Source: Arterial Network)

Kongshan Ci Completes Series A Financing

Shanghai Kongshan Ci Technology Co., Ltd. (“Kongshan Ci”), a company focused on next-generation brain-computer interface (BCI) neuromodulation technology, recently announced the completion of its Series A financing round. The round was led by Oriental Fortune Capital, with Yaotu Capital participating as a co-investor. Existing shareholders DaoTong Investment and Yunqi Capital continued to increase their stakes, while Qifeng Capital served as the financial advisor. The funds raised will be primarily used for product research and development iterations, medical device registration filings, and global expansion. (Source: Arterial Network)

Kaisikadi Completes RMB 318 Million Series D Financing

On June 10, KSKD (Shanghai) Pharmaceutical Technology Co., Ltd. officially announced the completion of its RMB 318 million Series D financing round. The round was co-led by Taiping Medical Health Fund and Shanghai Science and Technology Innovation Group, with participation from multiple professional investment institutions including Yuekai Capital, Zhaode Investment, and Lianbang Fund. The funding will support the clinical advancement of the company’s core pipeline and the continuous upgrading of its R&D system. (Source: VCBeat)

National Healthcare Security Administration: Declaration for the 2026 Adjustment of the Drug Catalogs for Basic Medical Insurance and Commercial Health Insurance Has Been Completed

On June 11, the National Healthcare Security Administration (NHSA) announced that, in accordance with the “Work Plan for Adjusting the 2026 National Basic Medical Insurance, Maternity Insurance, and Work-Related Injury Insurance Drug Catalogue and the Commercial Health Insurance Innovative Drug Catalogue,” the application period for adjustments to the 2026 basic medical insurance catalogue and the commercial insurance innovative drug catalogue ended at 20:00 on June 10. During the application period, a total of 818 drug application submissions were received, including 570 for drugs outside the current catalogues (509 submitted exclusively for the basic catalogue, 17 exclusively for the commercial insurance innovative drug catalogue, and 44 for both the basic and commercial insurance catalogues), and 248 for drugs already within the catalogues. The overall number of submissions further increased compared to 2025. Next, the NHSA will conduct formal reviews of all received applications one by one and publicly disclose the preliminary review results. (Source: National Healthcare Security Administration)