Bai'ao Regenerative Medicine Secures Hundreds of Millions in Series C Funding to Advance China's Regenerative Medicine Innovation and Industrial Development

VCBeat has learned that Bio Regenerative Medicine recently completed a C-round financing of hundreds of millions of yuan, led by Chang'an Huitong Co., Ltd., with participation from Shaanxi Growth Enterprise Leading Fund Co., Ltd., Xi'an Finance Investment Management Co., Ltd., and YuHuaShangHe Investment Management(DaLian) Co., Ltd. The funds raised in this round will be primarily used to accelerate the improvement of its regenerative medicine technology platform and the development of regenerative medicine products, while also making in-depth strategic layouts across the regenerative medicine industry chain.

As a key technology at the forefront of biotechnology, the development of regenerative medicine has become the most significant breakthrough in modern medicine. In recent years, China’s regenerative medicine industry has received high attention from governments at all levels and strong support from national industrial policies. Relevant authorities have successively introduced multiple policies to encourage the development and innovation of the regenerative medicine sector.

Regenerative medicine, a discipline that leverages the principles of cellular, tissue, and organ regeneration to repair and replace damaged tissues, has ushered the healthcare industry into a new era characterized by the reconstruction, regeneration, manufacturing, and replacement of tissues and organs. The industrialization of regenerative medicine will not only drive development and innovation in the medical field but also provide more effective and safer approaches for human health and disease treatment, while attracting greater investment and talent to spur economic growth and social progress.

As a representative innovative enterprise in the field of regenerative medicine, Bio Regenerative aligns with the national government’s high regard for and policy support of the regenerative medicine industry. Actively responding to governmental calls, the company has strategically positioned itself across the regenerative medicine industrial chain, leading and facilitating the entry of China’s regenerative medicine sector into a new stage of development.

Meanwhile, scientific research achievements should not remain confined to the academic realm but must be effectively commercialized to realize the integration of industry, academia, and research. Leveraging its core R&D strengths in regenerative medicine, Bio Regenerative has completed a comprehensive layout for the industrialization of regenerative medicine, transitioning from laboratory research to large-scale application. The company has achieved full-industry-chain development characterized by strategic positioning across the regenerative medicine supply chain, breakthroughs in scientific and technological innovation, international leadership, and a comprehensive brand matrix covering the entire value chain.

In this regard,Professor Jin Yan, Chief Strategic Advisor of Bio Regenerativestated, “Regenerative medicine will bring about tremendous changes to human society. Since its establishment, Bio Regenerative has remained steadfastly committed to the field of regenerative medicine, upholding the firm belief of ‘Advancing Regenerative Medicine through Rigorous Research, Reshaping Public Health.’ The company has been diligently exploring and advancing in areas such as regenerative medical treatments, organoid skin applications, and regenerative technology-based skincare. Following the completion of this round of financing, Bio Regenerative will continue to accelerate the translation and application of scientific research outcomes. By leveraging self-developed core technologies and innovative raw materials, the company will promote the technological transformation of regenerative medicine in fields such as Class III medical devices and precision skincare, thereby driving China’s regenerative medicine industry to new heights.”

Regarding this round of financing,Zhao Han, Head of the Investment Department at Chang'an Huitong FundHe stated, “Bio Regenerative is a team with world-class vision and clinical capabilities in regenerative medicine, and it is also an outstanding high-growth enterprise that Chang’an Huitong Co., Ltd. has been closely tracking and monitoring for a long time. Regenerative medicine represents a pinnacle of future medical development. Through years of dedication and effort, Professor Jin has led his team to overcome a series of clinical challenges, including artificial corneas, skin, and cartilage, establishing a dual-engine product system encompassing both regenerative medical devices and medical aesthetics. Furthermore, by leveraging platform technologies such as DTSS (Dermatological Targeted Supramolecular System), the company empowers traditional medical aesthetics and cosmetics enterprises. This investment serves as another testament to Chang’an Huitong’s commitment to supporting the development of healthcare enterprises in Shaanxi Province. In the future, we will work together with the Bio Regenerative team to uphold the development philosophy of ‘Health and Beauty.’”

Dr. Guo Jia, Managing Director of Shaanxi Growth FundIt stated: “Bio Regenerative boasts the strongest R&D team in the industry, has achieved three globally influential scientific breakthroughs, and is a pioneer in innovative research and development within regenerative medicine. Leveraging its robust technology platform, the company has established a strategic layout across three core business segments: regenerative healthcare, tech-driven skincare, and skin organoids. Spanning both serious medical care and consumer healthcare sectors, Bio Regenerative maintains a rich product pipeline and has experienced rapid performance growth. With the launch of its one-stop beauty CDMO platform, Bio Regenerative is poised to reach new heights and become the leading benchmark in China’s regenerative medicine industry.”

In the field of regenerative medicine, Bio Regenerative is dedicated to achieving the regeneration and repair of human tissues and organs. The company has successively developed proprietary technologies with full independent intellectual property rights, including animal-derived tissue decellularization technology, biomaterial modification technology, and tissue and organ construction technology. Targeting the treatment of tissue and organ defects in areas such as bones and joints, ophthalmology, and oral and maxillofacial surgery, Bio Regenerative continues to launch innovative products, gradually establishing an industrial scale for clinical products across departments including orthopedics, ophthalmology, stomatology and otolaryngology, general surgery, and plastic dermatology.

In the field of dentistry, the company has developed and produced a landmark product that is the first of its kind in China: a moldable bone graft material containing hyaluronic acid combined with a bio-membrane.

In the field of orthopedics, we have developed China's first product for guiding cartilage regeneration and China's first absorbable bone hemostatic product;

In the field of ophthalmology, the second-generation bioengineered artificial cornea under development has received support from the National Key R&D Program (as the lead institution).

In the field of organoid skin applications, the core team at Bio Regenerative developed the first tissue-engineered product (tissue-engineered skin product) to obtain a registration certificate, officially marking China’s entry into the stage of industrialized artificial skin production and positioning it among the few countries worldwide capable of producing functional products containing live cell seeds. Building on this foundation, Bio Regenerative successfully developed a series of 3D in vitro skin alternative testing models, Epikutis®, and achieved their industrialization. This model also holds milestone historical significance. On this basis, a series of testing and organoid industry platforms were established, providing scientific core testing tools and novel solutions for the safety and efficacy evaluation of cosmetics.

The company has established stable strategic partnerships with over 600 renowned international and domestic cosmetics enterprises, including L'Oréal, Estée Lauder, and Bloomage Biotech. It empowers its partners through comprehensive scientific and technological support in basic research, product development, and efficacy evaluation, having evolved into an internationally recognized and industry-leading integrated technology service provider for the cosmetics sector.

In the field of regenerative technology-based skincare, starting with the successful development of the first 3D skin model, Bio Regenerative has continuously explored the patterns and mechanistic changes underlying cellular aging, development, and immunity. The company has achieved a series of major breakthroughs in regenerative medicine-based skincare, successfully translating exosome technology into aesthetic applications, pioneering the development of Nacitox, a topical botulinum toxin-like peptide, and globally launching intelligent targeted supramolecular technology. By continually advancing the technological translation and application of regenerative medicine in skincare, Bio Regenerative has successfully incubated brands and products that have gained widespread popularity among Chinese consumers.

Recently, Bio Regenerative has also leveraged its scientific research advantages in the field of regenerative technology-based skincare to establish China’s first highly competitive and highly differentiated one-stop beauty CDMO service platform. The platform provides the skincare industry with full-chain differentiated services, including customized raw materials, product development, product evaluation, manufacturing, and intellectual property layout.

Shaanxi Bio Regenerative Medicine Co., Ltd. is a technology-driven innovative biomaterials company powered by regenerative medicine technologies. The company and its subsidiaries are primarily engaged in the business of Class III implantable medical devices for regenerative medicine, organoid-based skin applications, and functional skincare products leveraging regenerative technologies. Its core team was among the earliest in China to conduct research in regenerative medicine, achieving three world-class scientific breakthroughs. The team received the First Prize of the National Science and Technology Progress Award, the first of its kind in the field of regenerative medicine, and its achievements were twice recognized as one of the Top Ten Advances in Chinese Pharmaceutical Biotechnology. As a pioneer in innovative R&D in regenerative medicine in China, the company continues to lead advancements in this field.

The Company has pioneered the industrialization of regenerative medicine in China. It owns four national-level high-tech enterprises and four enterprises above designated size. Its subsidiary, Shaanxi Bio Regenerative Medicine Co., Ltd. (Bio Regenerative), is recognized as a National Specialized, Refined, Differential, and Innovative “Little Giant” Enterprise, a National Intellectual Property Advantage Enterprise, the President Unit of the Shaanxi Medical Device Association, a Shaanxi Provincial Reserve Enterprise for IPO, a Shaanxi Intelligent Manufacturing Demonstration Enterprise, and the Xi’an Engineering Technology Center for Regenerative Medicine. With nearly 100,000 square meters of industrial facilities and hundreds of millions of yuan invested in R&D and industrialization equipment, the Company has become a leader in the industrialization of regenerative medicine in China.

Chang’an Huitong Private Equity Fund Management Co., Ltd. (hereinafter referred to as “Chang’an Huitong Fund”) is a wholly-owned subsidiary of Chang’an Huitong Group, the sole state-owned capital operating company in Shaanxi Province, and serves as its professional investment platform for conducting equity investment business and supporting local economic development. Established in August 2020, Chang’an Huitong Fund had assets under management exceeding RMB 18 billion by the end of 2023, forming a multi-tiered fund matrix that covers state-owned enterprise reform, cultivation of listed companies, regional economic development, and diversified industrial layout. Focusing on strategic emerging industries and hard technology investments such as healthcare, semiconductors, new energy and new materials, and high-end equipment, Chang’an Huitong Fund has been honored with awards including the “Top 10 Emerging Private Equity Investment Institutions in China for 2022” by Zero2IPO Research.

Shaanxi Growth Enterprise Leading Fund Co., Ltd is a professional fund management institution officially approved and established by the People's Government of Shaanxi Province, qualified for equity investment, investment management, and consulting services. Adhering to the operational philosophy of “government guidance + group support,” the company establishes a fund-of-funds (FoF) structure and sets up specialized sub-funds focused on advantageous industrial sectors. It adopts a two-tier architecture and investment operation model of “FoF + sub-fund cluster,” comprising the Guiding FoF, Junyuan Huike FoF, specialized industry sub-fund clusters, and market-oriented professional sub-fund clusters. Over the past eight years, it has initially formed a business pattern characterized by the coordinated development of FoFs and sub-funds, the sequential development of early-stage, growth-stage, and mature-stage funds, and the synergistic development of government-guided funds and sub-funds. Currently, it manages 16 entrusted funds with a total scale of RMB 8 billion.

Xi’an Caijin is a large-scale state-owned enterprise for the comprehensive operation and management of financial capital, established with full funding from the Xi’an Municipal Finance Bureau and approved by the Xi’an Municipal Committee of the Communist Party of China and the Xi’an Municipal People’s Government. Authorized by the Municipal Finance Bureau, Xi’an Caijin focuses on three major tasks: serving the real economy, preventing and controlling financial risks, and deepening financial reform. By promoting the in-depth integration of fiscal policies and financial capital, the company actively participates in optimizing the layout of state-owned financial capital across the city, continuously promotes the sound operation of state-owned financial institutions, and constantly improves the quality of state-owned financial capital operations. It aims to strengthen, enhance, and expand state-owned financial capital, thereby ensuring its preservation and appreciation.

YuHua Capital is a professional equity investment firm dedicated to investing in and introducing cutting-edge international technology projects for localization in China, while nurturing the growth and public listing of high-tech innovation ventures. YuHua Capital primarily invests in sectors such as healthcare, artificial intelligence, new energy, and advanced materials. The firm has managed over ten fund products, including the China-Israel Fund and the YuHua Artificial Intelligence Fund, with assets under management totaling nearly RMB 2 billion. It has achieved significant returns through successful exits from investments in companies such as Jinchen Shares (603396), Zhuhai CosMX (688772), and Huilong Piston (833455).