Chao Ying Pharma Secures Tens of Millions in Angel Funding to Advance Ultrasound Contrast Agent Development

Recently, Sichuan Chaoying Pharmaceutical Co., Ltd. (hereinafter referred to as “Chaoying Pharmaceutical”) announced that it had secured tens of millions of yuan in angel-round financing. The investors in this round were Northern Light Venture Capital and Haining Hanchi Venture Capital Partnership (Limited Partnership). Zhou Ang, Chairman of Chaoying Pharmaceutical, stated that the proceeds from this financing round would be primarily allocated to the research and development of manufacturing processes for ultrasound contrast agents and the construction of a sterile production line.

Chaoying Pharmaceutical (formerly Sichuan Yuanquan Biotechnology Co., Ltd.) was established in 2014 and is located in the Meishan Western Medicine Valley Industrial Park. It is a startup with extensive experience in the research and development, production, and sales of ultrasound contrast agents.

Actual Photos of Chaoying Pharmaceutical’s Environment

Contrast-Enhanced Ultrasound (CEUS) is a technique that utilizes contrast agents to enhance the backscattering of ultrasound waves, thereby improving the resolution, sensitivity, and specificity of ultrasonic diagnosis.

With improvements in instrument performance and the emergence of novel ultrasound contrast agents, contrast-enhanced ultrasound can effectively enhance two-dimensional ultrasound images and Doppler signals of parenchymal organs such as the myocardium, liver, kidneys, and brain. It enables effective visualization and assessment of blood perfusion in both normal and pathological tissues, and has become a highly significant and promising direction in ultrasonic diagnosis. Consequently, it is regarded by some as the third revolution in the field of ultrasound medicine, following B-mode ultrasound and color Doppler imaging.

Currently, the global market for ultrasound contrast agents is entirely dominated by three major European and American pharmaceutical companies: Bracco Imaging from Italy, GE Healthcare from the United States, and Lantheus Medical Imaging. China conducts approximately 2 billion ultrasound examinations annually, possessing the largest number of ultrasound devices and technicians worldwide, which represents a vast market potential.

Zhou Ang, Founder and Chairman of Chaoying Pharmaceutical, brings over 20 years of experience in pharmaceutical enterprise management and previously served as General Manager of the Sichuan Branch of Otsuka, a renowned international pharmaceutical company. The Chaoying Pharmaceutical team also boasts decades of accumulated expertise in contrast-enhanced ultrasound agent manufacturing processes, pharmaceutical production management, quality control, project application, drug marketing, and academic promotion.

It is precisely based on the aforementioned advantages that Chaoying Pharmaceutical is committed to breaking the monopoly held by foreign enterprises, striving to alleviate the medical burden on the Chinese public, and establishing itself as a global leader in the multi-billion-dollar contrast-enhanced ultrasound market both domestically and internationally.

Currently, Chaoying Pharmaceutical has established a research and development, production, and quality management team comprising over ten professionals. Focusing on high-end generic drugs and innovative medicines as its core business, the company provides solutions for unmet clinical needs in disease diagnosis and treatment. It has already built production and warehousing facilities spanning more than 4,000 square meters, along with an R&D center and quality analysis laboratory building covering approximately 20,000 square meters, as well as supporting administrative and lifestyle service centers.

In terms of R&D, in addition to applying ultrasound contrast agents for diagnostic imaging, “Chaoying Pharmaceutical” is also committed to research on precision ultrasound-guided interventional therapy. Given the advantages of contrast-enhanced ultrasound (CEUS)—including safety, portability, and real-time dynamic visualization of parenchymal lesions and blood perfusion—it can be used for real-time monitoring and assessment during various procedures (such as biopsy, tumor ablation, organ transplantation, local lesion resection, and vascular anastomosis). One of Chaoying Pharmaceutical’s key strategic initiatives to capture a future market worth tens of billions of yuan is to expand the application of CEUS technology from radiology departments to a broader range of clinical specialties.

Furthermore, ultrasound microbubble contrast agents can carry various small-molecule drugs and biomolecules, generating cavitation effects under ultrasound exposure. “Chaoying Pharmaceutical” has also made strategic investments in the precise therapeutic applications of ultrasound contrast agents (such as targeted drug delivery for tumors and ultrasound-assisted thrombolysis), achieving preliminary results.

Deng Feng, Founding Managing Partner of Northern Light Venture Capital“It is believed that liposomal microspheres have a broad market potential as ultrasound contrast agents, particularly in diagnosis and therapy, aligning with China’s medical needs. The Chaoying team brings extensive experience, and it is expected that the team will fill the domestic gap for this product.”

Haining Hanchi TeamIt stated that, after years of development, contrast-enhanced ultrasound (CEUS) has gained clinical recognition in echocardiography and the diagnosis and treatment of abdominal tumors. Meanwhile, the advantages of CEUS in terms of safety and real-time imaging endow it with the potential for expanded applications across multiple clinical departments. Therefore, we earnestly hope that Chaoying’s independently developed, domestically produced ultrasound contrast agent will be launched onto the market at an early date, thereby effectively enhancing the efficacy of ultrasound diagnosis and treatment for the broad population of Chinese patients and alleviating the national healthcare burden.