Hannuo Medical Secures Over RMB 100 Million in Series E Funding to Accelerate Multi-Product Development in Critical Care Extracorporeal Life Support and Fill Domestic Gaps

VCBeat has learned that Shenzhen Hanno Medical Technology Co., Ltd. (“Hanno Medical”) recently secured over RMB 100 million in its Series E financing round. The round was led by China Development Bank Capital and the Guangdong Traditional Chinese Medicine Health Equity Investment Fund Partnership Enterprise (Limited), managed by Guangdong Hengjian Holdings, with follow-on investments from Assets Management Co., Ltd., Zhejiang Province Development, Huashi Capital, and other institutions. This marks Hanno Medical’s latest funding round since it closed a tens-of-millions-yuan Series D financing in early 2023.

Hanno Medical, established in 2018, is a high-tech enterprise dedicated to the research and development of high-end medical devices for extracorporeal life support in critical and emergency care. On January 4, 2023, the company’s independently developed domestic ECMO (Extracorporeal Membrane Oxygenation) system, the first of its kind in China, received approval for market launch, making China the fourth country—after the United States, Germany, and Italy—to possess industrialized ECMO technology capabilities. In July 2023, Hanno Medical’s two additional self-developed products, an extracorporeal artificial heart and an extracorporeal artificial lung, successively obtained regulatory approval, further overcoming critical technological bottlenecks and filling gaps in domestic production. By 2023, Hanno Medical had secured four Class III medical device registration certificates, three of which were for high-value consumables. According to the “Report on the Current Status and Development Trends of the ECMO Industry” published by Frost & Sullivan, Hanno Medical is the only enterprise in China that masters the research, development, and manufacturing technologies for all four core ECMO systems: the monitoring system, blood pump system, membrane oxygenator system, and circuit consumables.

Hannuo Medical is comprehensively advancing the development of a full industrial and service chain for extracorporeal life support (ELS) in emergency and critical care. Starting with cardiopulmonary support for acute and critical conditions, the company collaborates with leading global enterprises and high-caliber hospitals to expand its market presence and application scenarios. It is building a comprehensive, multi-organ ELS product portfolio, with the ambition to become a dominant, carrier-grade enterprise in the global extracorporeal life support sector.

China has long faced an import monopoly in the field of medical devices for extracorporeal life support (ECLS) in critical care. Extracorporeal Membrane Oxygenation (ECMO) represents the most advanced life support technology in this domain. Due to its extremely high technical barriers, lengthy R&D cycles, broad involvement across multiple disciplines and processes, and substantial resource requirements, no domestic company had previously been able to fully master all key technologies. Leveraging a comprehensive suite of foundational technologies in hemodynamics and integrated active/passive high-end medical devices, Hannuo Medical has overcome critical challenges in extracorporeal blood pumping, extracorporeal oxygenation, processing techniques and formulations for long-acting anticoagulant coatings, as well as complex precision manufacturing of extracorporeal artificial hearts and lungs. The company has successfully developed the first domestically produced ECMO system with independent intellectual property rights, achieving a significant breakthrough from “nothing to something.”

Hannuo Medical Lifemotion^®The approval of the ECMO system has validated Hannuo Medical’s capability to build extracorporeal life support devices and consumables with exceptionally high technical barriers. Moving forward, Hannuo Medical will leverage its expertise in extracorporeal circulation platform technologies, using extracorporeal cardiopulmonary support as a starting point. The company will continue to develop products horizontally, focusing on more effective ECMO devices and consumables, as well as comprehensive organ failure support solutions. Vertically, it will deepen its industrial chain integration by expanding into upstream core technologies, midstream products, and downstream medical services. Remaining committed to its original aspiration of independent development, Hannuo aims to carve out a distinctive presence in the field of extracorporeal circulation and life support.

Liu Yang, Chairman of Hainuo MedicalIt is indicated that the field of innovative Class III high-end medical devices for extracorporeal life support is a key area strongly supported by national development initiatives, and it represents a gap in the industrial chain that we have been striving to fill. Although the R&D cycle is long, the technical challenges are immense, and the success rate is low—making it a sustained and arduous battle for enterprises—we have remained committed to undertaking difficult yet correct endeavors. Leveraging our core technologies in multi-organ extracorporeal circulation support, including cardiopulmonary systems, we are actively developing multiple high-value Class III medical devices, with progress proceeding smoothly. We will continue to strengthen and supplement the industrial chain, build a robust industrial ecosystem, and dedicate ourselves to facilitating comprehensive domestic innovation and localization in China’s “high-precision, advanced, and sophisticated” Class III high-risk extracorporeal life support technology sector.

VCBeat has learned that since the launch of Hannuo Medical’s first complete ECMO system and its dedicated single-use disposable kits this year, clinical adoption has exceeded expectations, with hundreds of critically ill patients successfully treated. The company has now initiated its global commercialization strategy to promote Chinese-made ECMO systems in overseas markets.

On September 28, 2023, Hanuo Medical, as the sole representative from China and a provider addressing global ECMO supply chain issues, was invited to participate in the discussion session “Addressing ECLS Equipment and Consumable Supply Chain Challenges,” organized by ELCS Virtual Advisor (Extracorporeal Life Support Professional Advisor Association) and Comprehensive Care Service. Together with top academic experts worldwide, they discussed the current shortages and solutions for the global supply chain of ECMO equipment and consumables.

Frequent quality-related recalls and corrective actions by overseas ECMO manufacturers have disrupted the global ECMO supply chain, widening the supply gap and prolonging lead times. The global shortage of ECMO supplies urgently needs to be addressed.

Hannuo Medical has fully launched its “Going Global” development strategy, accelerating international regulatory certifications and the overseas deployment of its products. While helping to address current ECMO supply chain challenges, the company is continuously expanding its global market presence and refining its worldwide marketing and service ecosystem, aiming to become a key player in promoting technological advancements in the field of extracorporeal life support.

Mr. Gao Ertan, Head of the Guangdong Traditional Chinese Medicine Health Equity Investment FundIt is stated that in recent years, national policy documents such as the “14th Five-Year Plan for the Development of the Medical Equipment Industry,” the “Implementation Plan for the Construction of a High-Quality and Efficient Medical and Health Service System during the 14th Five-Year Plan Period,” and the “Outline of the 14th Five-Year Plan for National Economic and Social Development of the People’s Republic of China and Long-Range Objectives Through the Year 2035” have explicitly called for comprehensive breakthroughs in key technologies for monitoring and life support equipment, including Extracorporeal Membrane Oxygenation (ECMO), to promote innovative development in the medical device industry. Aligning with national strategies, the Guangdong Traditional Chinese Medicine Health Equity Investment Fund has strengthened its layout in the field of monitoring and life support equipment, facilitating the coordinated industrial development of Class III innovative medical devices. Adhering to independent research and development, Hanuo Medical has mastered multiple core technologies, including extracorporeal life support, and achieved the registration and market launch of the first domestically produced ECMO system in China. Upholding the development philosophy of “doing difficult but right things,” the company embodies the essential spirit of innovation-driven enterprises and has established a positive momentum characterized by “steady progress and continuous breakthroughs.”

As the first traditional Chinese medicine (TCM) fund in China initiated by state-owned capital, the Guangdong TCM and Big Health Fund was established in 2021 under the guidance of the National Administration of Traditional Chinese Medicine. It was jointly initiated by CDB Capital, a wholly-owned subsidiary of China Development Bank; Guangdong Hengjian Holdings, the state-owned capital operation platform of Guangdong Province; and the Guangzhou Development District. The fund has a total size of RMB 30 billion, with an initial closing of RMB 5 billion. Leveraging the developmental finance advantages of China Development Bank and the systemic resource strengths of Guangdong Province, the fund supports the research and development, transformation, and industrial commercialization of technologies related to the TCM industry. Meanwhile, it appropriately expands the connotation and extension of the TCM industry, delivering high-quality products and services to China’s big health sector centered around the TCM industry.

For more information, please visit the Hanuo Medical official WeChat account; for cooperation inquiries,PleaseFor inquiries: ying.ye@cbmsz.com；zebin.xiao@cbmsz.com