CD Capital Portfolio Highlights: October 2025 Update

Recently, three products independently developed by Genlight Neurotech have passed the approval of the National Medical Products Administration (NMPA) and obtained the Class III National Innovative Medical Device Registration Certificate: Magnetic Resonance-guided Semiconductor Laser Therapy Device [NMPA Approval No. 20253012081], Single-use Laser Fiber Kit [NMPA Approval No. 20253012082], and Stereotactic Surgical Planning Software [NMPA Approval No. 20253212083].

GenLight has three core products, respectively: LaserRO^TMMagnetic Resonance-guided Laser Ablation Minimally Invasive Surgical System, S-Deep^TMDeep Brain Electrodes and Implantable Closed-Loop Self-Responsive Neurostimulation System.

Among them, the intracranial deep electrode obtained certification in September. The recently certified magnetic resonance-guided laser ablation (MRgLITT) is an advanced minimally invasive surgical technique. Under real-time monitoring by magnetic resonance imaging (MRI), it precisely delivers thermal energy to the lesion area through laser fibers, achieving ablation treatment of intracranial tissue. LaserRo^TMThe system offers patients a new treatment option with its superior precision, minimally invasive nature, and flexible ablation solutions.

Recently, LuX-Valve Plus, the transjugular tricuspid valve replacement system developed by Jenscare Scientific(Netherlands)B.V., a subsidiary of Jenscare (9877.HK), has been officially approved for inclusion in the Greater Bay Area Medical Device Directory. It can now be commercially used in designated medical institutions within mainland China's Greater Bay Area.

"Cross-boundary Use of Hong Kong-Macau Drugs and Medical Devices" is a medical innovation policy implemented in the Guangdong-Hong Kong-Macao Greater Bay Area of China. It allows drugs or medical devices that have been procured and used in public hospitals in Hong Kong and Macao, and are urgently needed clinically in mainland China, to be used in designated medical institutions in the mainland part of the Greater Bay Area after approval. This aims to meet patients' urgent needs for advanced medical technology, provide patients with more diversified treatment options, and offer an efficient access pathway for innovative medical devices.

LuX-Valve Plus, with its extensive successful clinical application experience in major countries and regions worldwide, including the Asia-Pacific, North America, Europe, South America, and the Middle East, excellent clinical performance, and unique advanced product design, has successfully received approval through the "Hong Kong-Macao Drug and Medical Device Approval System" for commercial clinical application in the Guangdong-Hong Kong-Macao Greater Bay Area. It is expected to meet the urgent treatment needs of a large number of tricuspid regurgitation patients within the region.

LuX-Valve Plus is a self-developed transcatheter tricuspid valve replacement system specifically designed for patients with severe tricuspid regurgitation who are at high surgical risk. There is a significant unmet clinical need for tricuspid regurgitation, especially for patients with severe tricuspid annulus dilation and complex anatomical structures, who have long lacked safe and effective treatment options. LuX-Valve Plus features globally innovative ventricular septal anchoring and a self-adaptive anti-leakage ring in its valve design, delivered via a transjugular approach. It offers seven size models ranging from 40mm to 70mm, suitable for various anatomical challenges in tricuspid regurgitation patients with almost no other treatment options, demonstrating excellent clinical performance.

The product has successfully completed a large number of implants worldwide, and the follow-up results have demonstrated LuX-Valve Plus's excellent safety and outstanding efficacy. Its technological advancement and clinical value have gained widespread recognition in the international market.

Recently, the Iberis RDN System successfully completed local registration in Switzerland and was clinically applied for the first time in the country at the University Hospital Basel. This procedure, performed on a patient with hypertension using a minimally invasive radial approach, marks the official entry of this innovative Chinese medical device into a core clinical institution in Europe, opening a new phase of local application.

As the world's only Renal Denervation (RDN) product supporting both transradial and femoral artery access, the Ploumis Iberis system has obtained EU CE certification and completed the first commercial applications in Europe, including in Germany, Spain, Italy, and other countries.

Renal Denervation (RDN) Achieves Stable Blood Pressure Control Without Long-term Medication by Minimally Invasive Intervention to Block Overactive Renal Sympathetic Nerve Signals. Data from the Iberis-HTN Study Shows a Reduction of 13.0±12.1mmHg in 24-hour Average Systolic Blood Pressure at 6 Months Post-operation, with Significant Hypotensive Effects Maintained at 12 Months, Particularly Meaningful for Patients Intolerant to Medication. The Success of the First Case in Switzerland Will Accelerate the Popularization of This Technology in Europe, Bringing New Hope to Hypertensive Patients Worldwide.

Shanghai Smartee Denti-Technology Co., Ltd. and Straumann Group Announce Strategic Partnership

As an innovative leader in China's invisible orthodontics field, Smartee has developed a series of self-researched original invisible orthodontic technologies after more than 20 years of development and has accumulated mature experience in the field of smart manufacturing. As a leading enterprise in the global dental industry, Straumann Group, with its strong international brand influence and worldwide marketing network, will provide powerful support for the promotion of Smartee’s technology in the international market.

This collaboration will integrate the core strengths of the two groups to drive the growth of the global oral health market with higher efficiency and speed, meeting the increasing demand for high-quality orthodontic treatments.

Recently, the Ministry of Industry and Information Technology announced the seventh batch of specialized, refined, distinctive, and innovative "little giant" enterprises and the list of enterprises that passed the 2025 re-examination. MicroTech Medical, with its outstanding technological innovation capabilities, market competitiveness, and future development potential in niche fields, successfully entered the national specialized, refined, distinctive, and innovative "little giant" enterprise.

National Specialized, Precise, Unique, and Innovative "Little Giant" Enterprises refer to leading enterprises that are located in the core areas of industrial foundations and key links of the industrial chain. These enterprises stand out for their innovation capabilities, mastery of core technologies, high market share in niche markets, and excellent quality and benefits. This is the highest level and most authoritative honorary title in the evaluation of small and medium-sized enterprises in China, representing outstanding strength and future potential in niche fields, with extremely strong authority and industry recognition.

Yuguo Bio's outstanding performance fully demonstrates its excellent capabilities in these fields. As a national high-tech enterprise, Yuguo Bio is committed to digitizing microorganisms and developing better microbial detection technologies and products at lower costs and faster speeds by mining data. These innovations aim to meet the diverse needs of different application scenarios such as medical diagnostics, public health, food safety, and biological product safety. Yuguo Bio has successively participated in China’s "13th Five-Year Plan" and "14th Five-Year Plan" national key research and development projects, as well as multiple provincial and ministerial-level key special projects.

As a leading company in the industry, MicroTech Biological will take winning the national-level specialized, refined, distinctive, and innovative "Little Giant" award as a new starting point. It will continue to leverage its professional, meticulous, distinctive, and innovative corporate strengths, adhere to innovation-driven development, earnestly fulfill its corporate mission of "making microbial testing simpler," and lead the high-quality development of the industry.

Recently, Youthink Biotech officially signed a Memorandum of Understanding (MoU) with three public health institutions in Pakistan and exclusively signed an OEM cooperation agreement with Pakistan's leading medical enterprise to promote the localized production of molecular POCT diagnostic products in Pakistan.

This partner is a leading enterprise in Pakistan's medical and health industry, with businesses covering in vitro diagnostics, pharmaceuticals, vaccines, and other fields. It has business operations in Iran, Afghanistan, and other regions, possessing an extensive customer network and market resources.

This collaboration brings together the technical advantages of Youthink in the field of molecular POCT diagnostics and local partners to jointly build an innovative platform integrating R&D, production, and talent cultivation, promoting the enhancement and comprehensive coverage of diagnostic capabilities across Pakistan.

Recently, Frost & Sullivan, a globally renowned growth consulting firm, released the "White Paper on the Current Status and Future Trends of the Gut Microbiota Industry." With its long-term dedication and technological innovation in gut microbiome research and industrial application, Hefei Hanmicroorganism Technology Co., Ltd. has become one of the representative companies in China's gut microbiota innovative drug sector, earning authoritative recognition from Frost & Sullivan.

The white paper shows that, as of April 2025, nearly 400 intestinal flora drug pipelines are under research and development worldwide. The study of intestinal flora is moving comprehensively from basic microbiology to clinical and industrial applications, with its clinical value being accelerated. Since 2011, the global intestinal flora industry financing has continued to heat up, with annual financing exceeding $500-600 million. The high recognition by the capital market is accelerating the influx of funds, driving the vigorous development of the industry. The white paper predicts that by 2027, the global probiotics market size will exceed $120 billion, with China's market share surpassing 25%. Policies, capital, and scientific research will continue to drive the rapid growth of the industry.

As the first biopharmaceutical company in China to focus on the "gut-brain axis" mechanism and specialize in live biotherapeutic products and metabolite-based drugs, Hefei Hanmicroorganism Technology Co., Ltd. pioneered a "mechanism-driven" approach to live biotherapeutic development. Breaking away from traditional empirical research pathways, the company has established a comprehensive technology platform covering the entire process, including target design, strain screening, process development, and efficacy evaluation.

The company focuses on two major fields: autoimmune diseases and neurological disorders, and has developed multiple candidate drugs with clear mechanisms and remarkable efficacy. Currently, several pipelines have entered the IIT clinical and IND application stages, among which the antidepressant live bacteria drug is the world's first product based on the gut-brain axis mechanism to receive FDA IND approval.

With continuous breakthroughs in the research and industrial application of microbial functions, Hefei Hanmicroorganism Technology Co., Ltd. will further increase its innovative investment in the technology and application of the intestinal microbiome field, actively expand international cooperation and industrial transformation, and help China's intestinal flora industry move towards a high-quality development stage.

Recently, the 11th China Medical Industry Innovation Competition concluded in Shenzhen. MicroTech Medical stood out with its "metaFlow^®"High-energy Water Jet Autonomous Surgical Robot" Wins "Most Investment Value Award" and Ranks among the Top Three in China. This product is China's first and one of the world’s first batch to complete registered clinical trials as an integrated "water jet + robot" system, marking a key leap for domestically produced surgical robots in the "non-thermal, precise, automatic" field.

This competition was hosted by the "China Medical Device" magazine, with a jury composed of experts from four fields: associations, clinical, medical engineering, and investment. The entries were blindly evaluated based on four dimensions: engineering technology, clinical benefits, market potential, and intellectual property rights to ensure the authority and fairness of the awards. The final was held during the World Medical Engineering Conference. Zhiyu Healthcare stood out from more than a hundred innovative projects and showcased cutting-edge innovative technologies from China to global medical engineering experts during the conference.

metaFlow^®High-energy water jet autonomous surgical robot integrates four major innovations:

Multi-dimensional Imaging Real-time Planning——Real-time three-dimensional preoperative planning of the surgical area to generate the optimal resection path;

Multi-axis联动 Automatic Vortex Cutting——Four-axis coordination of the robot, high-precision resection, zero manual adjustment during surgery;

High-Energy Non-Thermal Water Jet Precision Control——Nearly a hundred MPa water jet induces mechanical separation of the target tissue, without thermal damage, precisely protecting the surrounding tissue and reducing the complication rate;

Global Monitoring of Multimodal Data——Ultrasound + Flow + Motion Position Multi-Modal Closed-Loop, Real-Time Monitoring of Resection Depth, Ensuring Surgical Safety.

The entire system shortens the traditional TURP surgery from 1 hour to ≤10 minutes, significantly reduces the incidence of postoperative complications such as urinary incontinence and sexual dysfunction, involves minimal trauma due to non-thermal resection, and has the potential to achieve a "day surgery" pathway.

China's surgical robot industry has moved from "following imports" to "defining standards". metaFlow^®High-energy water jet autonomous surgical robot once again proves with its extraordinary strength: adhering to original technology will surely carve China's name on the world stage.