SafeCare Medical Secures Tens of Millions in Pre-A Funding to Advance Tumor Treating Fields Innovation with 'Made in China' Vision

“We are optimistic about the tumor treating fields sector, as well as Safkar’s technology platform and team. Therefore, we made a swift decision to exclusively invest in Safkar at its Pre-A round, with funding amounting to tens of millions of yuan,” said Zhou Mi, Managing Partner at Puhua Capital.

Tumor Treating Fields (TTF) is a novel, portable, and non-invasive therapeutic approach for malignant tumors. Its mechanism of action involves the application of low-intensity, intermediate-frequency alternating electric fields to tubulin in proliferating cancer cells, thereby interfering with mitosis, inhibiting tumor growth, and inducing death in affected cancer cells.

Clinically, the indications for Tumor Treating Fields (TTF) continue to expand, demonstrating remarkable efficacy in the treatment of various malignant tumors. Compared with standard therapy, the combination of TTF and temozolomide for newly diagnosed glioblastoma increased the five-year overall survival (OS) rate from 5% to 13%, representing a more than two-fold improvement, and extended the median OS from 16 months to 20.9 months. Furthermore, the combination of TTF with gemcitabine and paclitaxel for pancreatic cancer extended the median OS from 6.7 months to 14.9 months.

In terms of commercial performance, Optune® (Chinese name: Aipudun), the flagship product of Novocure, the global leader in Tumor Treating Fields (TTF) therapy, has received FDA approval for three indications: newly diagnosed glioblastoma (GBM), recurrent GBM, and unresectable malignant pleural mesothelioma. The company’s market capitalization surged to $12.4 billion, making it the largest publicly listed company in Israel. In July 2020, Optune® officially entered the commercialization phase in China through a license-in agreement with Zai Lab. That year, Zai Lab’s market capitalization doubled, Optune® became the group’s second-largest pipeline asset, and net revenue increased by 300%. Since then, Optune® has maintained steady growth at an annual rate of approximately 10%.

“As more indications for Optune® gain approval, expert consensus on Tumor Treating Fields (TTFields) therapy is established and incorporated into treatment guidelines, and the synergistic ‘1+1>2’ efficacy of combining TTFields technology with other therapeutic modalities is validated, the clinical potential of electric field therapy will continue to unfold. ‘The technology has been clinically validated, and its market performance has been remarkable. However, no domestically manufactured products have yet received marketing approval in China, although several candidates are currently in clinical trials. It is anticipated that Chinese-made products will enter the market in the coming years, establishing domestic advantages in both technology and pricing, thereby benefiting the Chinese population and delivering significant social value. The research, development, and innovation of high-end domestic medical devices constitute a key area of focus for our government,’ stated a representative from the Shaoxing Binhai New Area.”

TTF is still in the introduction phase in the Chinese market. Unlike other domestic tumor treating fields (TTF) R&D companies that primarily focus on expanding their pipelines and accelerating development timelines, the Safkar team has taken a different approach,While advancing a multi-pipeline layout, we also place significant emphasis on technological accumulation and product innovation.。

Innovative Electrode MaterialsExisting electrode patches are all made of ceramic materials, which are rigid and exhibit poor conformability. Their large contact area leads to inadequate heat dissipation during prolonged wear, potentially causing varying degrees of thermal injury to the skin. The Safkar team has optimized the electrode patches in terms of materials, manufacturing processes, and electrode array configuration, resulting in enhanced softness, superior conformability, reduced contact area, and improved heat dissipation. These improvements increase patient comfort during wear and enhance therapeutic efficacy.

Exclusive Collaborative Development of Implantable TTF. For brain tumors, which are significantly attenuated by the skull, and pancreatic cancers, characterized by small lesions located deep within the body, Safkar has collaborated with top-tier professorial teams in China to develop implantable Tumor Treating Fields (TTF) technology. This approach involves directly implanting the therapeutic device into or around the lesion site during surgery or via minimally invasive procedures. By transitioning from external to internal application, this method ensures more direct therapeutic action with reduced external interference, thereby enabling a more precise treatment regimen and improving clinical efficacy.

Establishing an Application Platform for Tumor Treating Fields (TTFields) Therapy“TTF technology not only affects tumor cells but also exerts positive effects on normal cells at certain specific frequencies, such as immune activation and increased cell membrane permeability. Therefore, TTF technology is not merely a product technology limited to oncology treatment; there are many more ‘TTF+’ combination applications awaiting exploration,” said Jin Xing, Head of Clinical Medicine at Safkar, with great confidence. “We are implementing TTF technology as a modality that can be combined with various therapeutic approaches to maximize its clinical value and enhance treatment efficiency.”

Recently, Safkar’s clinical program for newly diagnosed glioma has been launched at Beijing Tiantan Hospital, Capital Medical University. Meanwhile, the Safkar team has conducted robust foundational research around its electric field technology, actively exploring “TTF+” applications such as combined drug-device therapies, immunotherapy, and rehabilitation. The company has accumulated substantial clinical data and secured a first-mover advantage, with an electric field therapy application platform taking shape. Furthermore, Safkar has implemented unique product designs and filed comprehensive intellectual property protections, establishing a competitive “moat” for its products.

From “Follower” to “Leader,” the Safkar team is committed to integrating TTF non-invasive physical therapy with various treatment modalities to maximize its unique clinical application value.

It is reported that Safkar (Shaoxing) Medical Technology Co., Ltd. will launch a new round of financing in December 2023. In addition to sustaining product and technology R&D, the funds will be used to conduct clinical trials on human subjects for its multiple “TTF+” pipelines developed from earlier accumulations. The team is also actively engaging with domestic industrialization partners to continuously explore applications of electric field technology and advance commercial implementation.

“Medicine is a rigorous discipline. Medical products must be safe and reliable, while healthcare professionals must act with benevolence and compassion for patients. This is why we chose the name ‘Safkar,’ which conveys the meaning of ‘safe and care,’” said Chen Xiao, Head of Public Affairs at Safkar. “We engage in comprehensive collaborative exploration across technological advancements, product forms, and treatment modalities to ensure that patients achieve optimal therapeutic efficacy and comfort when using our products, allowing them to maintain their normal lives—including work and travel—without disruption.”

“Not content with mere imitation, they have the courage to forge ahead and create ‘Made by China’ innovations. This is the quality and spirit we see in the young partners of the Safkar team. We need to support such teams in achieving their dreams and helping them ignite the spark of innovation in China’s medical device industry,” praised Zhou Mi.

Safkar, established in January 2022, is an innovative R&D company focused on Tumor Treating Fields (TTFields) therapy. It concentrates on the technical implementation, product development, and clinical application of new TTFields indications. The company’s clinical trial for newly diagnosed glioblastoma multiforme (GBM) is currently underway at Beijing Tiantan Hospital, Capital Medical University, with clinical deployments for other indications proceeding simultaneously. Furthermore, Safkar is pursuing comprehensive, differentiated innovations in key areas such as electric field technology, flexible electrodes, combination drug-device therapies, and immune activation, striving to become a leader in TTFields therapy both in China and globally. Safkar is currently headquartered in the Binhai New Area of Shaoxing, and its pre-A funding round was led by Puhua Capital.

Shaoxing Binhai New Area, located on the south bank of Hangzhou Bay and in the northern part of Shaoxing City, was approved by the Zhejiang Provincial People's Government on November 25, 2019, and officially inaugurated on November 29, 2019. As one of the first batch of new areas in Zhejiang Province, it serves as a bridgehead for Shaoxing’s full integration into the Yangtze River Delta integrated development and the construction of the Hangzhou-Shaoxing-Ningbo Integration Demonstration Zone. The new area focuses on developing two leading industries: integrated circuits (IC) and biopharmaceuticals. The IC industry is oriented towards the regional Integrated Device Manufacturer (IDM) model, having initially established a full industrial chain encompassing design, manufacturing, packaging and testing, materials, equipment, and applications, with specialized processes and advanced packaging as its core strengths. The biopharmaceutical industry centers on an industrial chain covering biological agents, innovative drugs, medical devices, and health and elderly care services.

Puhua Capital, founded in 2004 and headquartered in Hangzhou, maintains offices in Beijing, Shanghai, Shenzhen, and London, UK. The firm focuses on investments in four key sectors: frontier technology, new energy/new materials, healthcare, and consumer culture. Leveraging its profound industry insights and extensive capital market experience, Puhua Capital has established a dual-drive strategy of “capital + industry,” committing to early-stage, innovative, specialized, and growth-oriented investments, thereby serving as an incubator and accelerator for entrepreneurship and innovation. Puhua Capital has consistently demonstrated outstanding performance in annual Chinese venture capital rankings, such as ranking “TOP 14” on the Zero2IPO List, “TOP 16” on the Financing China List, and “TOP 18” on the Qingke List in 2022, and being recognized as a Leading Investment Institution in Zhejiang Province.