CytoChip Blood Monitoring and HepAssis2® Bioartificial Liver Projects Win Top Awards at Fosun's 'InnoStar' Competition, File IPO Prospectuses

On June 18, the “Star Future InnoStar” Innovation and Entrepreneurship Competition was successfully held in Shanghai. Thirteen domestic and international companies advanced to the finals, with the first prize jointly awarded to the “CytoChip Blood Monitoring” project from the United States and the “Bioartificial Liver” project from Wuhan. It is reported that the first-prize winners will have the opportunity to secure multi-million-yuan investments from Fosun Group.

Wang Qunbin, President of Fosun Group, stated that Fosun will continue to support young people in their innovation and entrepreneurship endeavors, particularly those based on the internet. Young people around the world represent the future of innovation and entrepreneurship. In recent years, Fosun has increased its investment and commitment to this sector. To achieve further sustainable development, Fosun plans to deepen and expand its strategic layout in this area. Currently, the group’s primary focus remains on the big health sector.

Wang Huainan, CEO of Babytree, shared his experiences and lessons with the entrepreneurs present: “The relationship between venture capital and startups is not merely a collaboration between companies, but more importantly, a partnership between individuals. As an investee, one should maintain a learning mindset, clearly articulate their needs to investors, and seek genuine support. Building a strong interactive relationship with investors is key; there are no permanently good or bad relationships, only varying degrees of assistance.”

The “InnoStar” Competition, hosted by Fosun Group, is a global innovation and entrepreneurship contest. Since its launch in May 2016, it has attracted nearly 1,000 project registrations from fields including medical services, digital health, medical devices, pharmaceuticals, internet healthcare, precision medicine, and public fitness. All participating projects are focused on the broader health and wellness sector, ranging from AI systems specialized in medical pathology testing, to mobile internet-based health management platforms and communities, as well as startups dedicated to promoting healthy lifestyles.

Fosun Angel is an early-stage venture capital fund under Fosun Group. Leveraging Fosun Group’s industrial resources in the sectors of health, happiness, and prosperity, it is committed to achieving robust growth alongside innovative enterprises. The fund primarily focuses on investment opportunities in mobile internet and broader healthcare, with investment stages ranging from angel and Pre-A to Series A.

Brief Introduction of Award-Winning Projects

First Prize:

CytoChip

Making blood testing as simple as taking a temperature, this device delivers on-site results in just two minutes using only a single drop of capillary blood. It brings accurate blood diagnostic capabilities to clinics, communities, and homes, enabling more people to access more convenient medical services.

Bioartificial Liver

A physician-led startup from Wuhan has developed the HepAssis2® bioartificial liver system, which integrates human fetal hepatocytes, a bioreactor, and an artificial liver machine. The project provides comprehensive protection for both the system and its therapeutic methods, supported by 13 related patents.

Second Prize:

VibroniX

Vibronix offers a hybrid imaging system based on photoacoustic and high-frequency ultrasound, enabling rapid intraoperative differentiation between tumor and normal tissues. This technology can replace existing frozen section techniques, thereby helping surgeons perform tumor resections with greater precision and efficiency.

Third Prize:

The Great Sand World

Max&Salad: A Chain Brand of Main-Course Salads. The first store opened in March 2015 at Shanghai’s Knowledge and Innovation Community (KIC). It is not merely a salad shop, but a consumer destination for young people pursuing holistic experiences and healthy lifestyles.

Also advancing to the finals of this Innovation and Entrepreneurship Competition were LifeSymb from Portugal and the ECTOSENSE project, both of which received the Excellence Award.