Weimu Medical Completes Over RMB 100 Million Series A Financing to Accelerate Commercialization

VCBeat has learned that recently, a leading domestic biomedical materials companyShanghai Weimu Medical Technology Co., Ltd. (hereinafter referred to as “Weimu Medical”)Completed an A-round financing of over RMB 100 million. This round of financing was led byBotanee, Huajin AvenueCo-led investment,Sharewin InvestmentandChengshu InvestmentCapitalFollow-on investment, existing shareholdersVoyong FundandIDG CapitalContinued Investment,DotStone CapitalContinue to serve as the exclusive financial advisor. The proceeds from this financing round will be primarily used for clinical trials of existing core products, building a commercialization team, and research and development of subsequent innovative products.

Dr. Dang Xie, Founder of Weimu MedicalAfter completing his Ph.D. in polymer materials at Fudan University, Dr. Jie Dang joined the multinational corporation 3M, where he engaged in long-term material research and development and was deeply influenced by 3M’s product development philosophy. Diverging from the traditional logic of medical device startups that focus on a specific niche, Dr. Jie Dang established a development path for Shanghai Weimu Medical Technology Co., Ltd. centered on “technology-driven innovation without being confined to any single sector.” Since its inception, Weimu Medical has consistently conducted innovative R&D, academic promotion, and therapeutic dissemination around the core theme of “polymer materials,” striving toward the goal of becoming a “miniature 3M.”

Weimu Medical’s First Product—Closure Adhesive Products for the Treatment of Severe Varicose Veins in Vascular SurgeryRegistration was submitted in the first half of 2023. The product is expected to become the first approved innovation of its kind in China, with clinical efficacy comparable to Medtronic’s VenaSeal. In practical application, the Weimu team creatively proposed a design concept centered on “reducing consumable adhesive gun waste and adding volume specifications and viscosity options,” based on clinical needs and domestic market conditions. This approach not only eliminates the need for disposable adhesive guns and introduces diverse product specifications to minimize unnecessary waste—making this innovative therapy more affordable for patients—but also enhances product viscosity through structural design, providing clinicians with a smoother and more comfortable user experience. As a benchmark product, VenaSeal has been used in over 150,000 procedures worldwide since its launch. With more than 100 million patients suffering from lower extremity varicose veins in China, the market potential is vast. The launch of Weimu’s venous adhesive will serve as a significant boost to varicose vein treatment, leading the industry into a new stage of development.

Beyond Weimu Medical’s “Glue” platform, two other “Balloon” platform products—Drug-Eluting Embolic Microspheres for Transarterial Chemoembolization (TACE) in the Treatment of Liver CancerandMedical Aesthetic Microspheres Containing Poly-L-lactic Acid (PLLA) for the Correction of Nasolabial Folds (Sculptra)Clinical trials have also been completed, and the product is currently in the registration application stage.The development process of these two products serves as the best testament to Weimu’s dedication to material and technological innovation.

According to Dr. Xie Dang, his earliestZengHaving developed a biodegradable drug-eluting embolic microsphere with hyaluronic acid as its primary component, he found it to be of limited clinical significance in actual practice. Through prolonged reflection and exploration, he recognized the substantial value of biodegradable materials in the field of medical aesthetics and anti-aging. The “baby face” injection product developed based on this principle has garnered high recognition from clinical experts and downstream industry stakeholders, enabling the company to enter the vast blue-ocean market of medical aesthetics.

For this round of financing,Dr. Xie Dang, Founder of Weimu MedicalHe stated, “As we complete this round of financing on the eve of the commercialization of our first product, I would like to express my sincere gratitude to all new and existing shareholders for their recognition and support of the company. Since its inception, the company has advanced steadily and pragmatically; even the previous pandemic did not hinder our progress in developing products as scheduled. We look forward to enabling a growing number of patients with varicose veins to benefit from innovative therapies independently developed by Chinese researchers. We will continue to deepen our expertise in polymer material technology, delivering safer and more effective solutions to patients across a broader range of therapeutic areas.”

Lead Investors in This RoundHuajin Avenue Investment Team“It is a great honor to participate in the future development of Weimu. The application of biomedical materials has brought about a transformation in traditional surgical treatment methods, holding significant industry importance and delivering benefits to both society and patients. Meanwhile, the use of biomedical materials in medical aesthetics helps people pursue beauty and confidence. During this round of financing, we were deeply impressed by the Weimu team’s courage to innovate and their craftsman-like spirit of striving for excellence. We firmly believe that creating ‘Me-Better’ medical device products requires collaborative innovation across multiple disciplines at the source, including materials science. Whether it is their venous glue or their poly-L-lactic acid (PLLA) filler for facial rejuvenation, Weimu’s products reflect the team’s profound understanding of market demands, leveraging their technical expertise to address these needs and directly tackle industry pain points. We believe that through our collaborative efforts, Weimu will achieve more robust growth and lead the development of the domestic biomedical materials sector.”

Yang Wenlei, Vice President of Dianshi Capitalstated, “This marks the third collaboration between Dianshi and Weimu. It is our honor to have witnessed the company’s rapid growth together. Leveraging its polymer materials platform, Weimu has strategically arranged its product portfolio and commercialization layout across both serious medical care and consumer healthcare sectors, backed by solid technological accumulation and an exceptionally strong execution capability of its team. We extend our congratulations once again to Weimu on the completion of this round of financing. We are delighted to continue our partnership with Weimu and believe that this high-potential team will achieve remarkable accomplishments in the near future. Dianshi will maintain its long-term focus on the materials sector, contributing to the development of China’s new materials industry.”

Huajin Avenue Investment Co., Ltd. is a wholly-owned subsidiary of Huajin Securities, with its headquarters located in Shanghai. As a core member of the financial industry cluster under Zhuhai Huafa Group, Huajin Securities is a fully licensed securities firm. Leveraging the strategic location of Hengqin, Zhuhai, it has established a development orientation characterized by “regional focus, industrial focus, distinct specialties, and high-quality assets.” In recent years, Huajin Securities has received numerous industry accolades, including being named “Most Growth-Oriented Securities Company of the Year” and “Outstanding Securities Firm of the Year,” steadily enhancing its market position. The company currently operates nearly 20 branch offices and more than 30 brokerage business outlets across China. Huajin Securities is committed to providing high-quality, comprehensive services in alignment with national strategic priorities and actively supports the development of the real economy.

Since 2011, the healthcare investment team of Sharewin Investment has focused its investment layout on two niche sectors—"Innovative Drugs and Biotechnology" and "Innovative Medical Devices and Smart Healthcare"—under the strategies of "Specialization" and "Industrial Partnership." Its portfolio companies include Aipeng Medical (300753), Snibe Co., Ltd. (300832), Contec Medical Systems (300869), NeuroQure Medical (6609.HK), Haisco Pharmaceutical Group (688302), QinHao Pharma, Huaxin Medical, Tsingke Biological Technology, Kanghua Biological, ZhiShan Biotech, Zhizhen Biologics, ClearMed Biotech, Genetron Health, Senyi Intelligence, Yizhun Medical, and OncoInfo.

Chengshu Investment, established in 2010, is committed to becoming a catalyst for the development of the consumer healthcare and life sciences industries, as well as a trusted professional investor. The Chengshu management team possesses deep insights into the patterns of corporate growth, along with extensive industry resources and capital market experience. It is dedicated to continuously empowering the growth of its portfolio companies and creating long-term, sustainable value for its investors.

IDG Capital pioneered venture capital operations in China in 1993, making it the country’s longest-established private equity investment firm and one of the largest private equity fund managers by assets under management. Over the years, IDG Capital has maintained a strong focus on the development of the healthcare sector. In the past five years alone, it has invested in approximately 70 healthcare projects, strategically targeting sub-sectors such as biopharmaceuticals, medical devices and diagnostics, and artificial intelligence, while also capitalizing on opportunities arising from policy-driven innovative healthcare models.