Healthcare Weekly Report: YiMiao Biologics Files for STAR Market IPO at RMB 4 Billion Valuation; Gushengtang Subsidiary to Acquire Controlling Stakes in Shahe Hospital and Beijing Hongyang Hospital

Valuation Targeting RMB 4 Billion! Imunopharm Races for STAR Market Listing

Recently, the initial public offering (IPO) application of Beijing Imunopharm Technology Co., Ltd. (“Imunopharm”) for listing on the STAR Market was officially accepted. Established in 2015, this cell therapy company has a product pipeline spanning multiple technological platforms, including autologous CAR-T, in vivo CAR-T, and allogeneic CAR-T therapies, covering hematologic malignancies, solid tumors, and autoimmune diseases. For this STAR Market IPO, Imunopharm has selected the fifth set of listing standards, with an estimated market capitalization of no less than RMB 4 billion. The company plans to issue no more than 10 million shares, accounting for no less than 25% of the total share capital after issuance, with an over-allotment option available. The proposed fundraising amount is RMB 2.5 billion, of which RMB 1.647 billion will be allocated to R&D projects for cell therapy drugs, RMB 228 million to the Phase I production project for cell therapy drugs by Shandong Jinsei Biotechnology Co., Ltd., and RMB 625 million to supplement working capital. (Source: Sina Finance)

GUSHENGTANG HOLDINGS LIMITED's Subsidiary Plans to Acquire Controlling Stakes in Shahe Hospital and Beijing Hongyang Hospital

Gushengtang (02273): Subsidiary to Acquire Controlling Stakes in Shahe Hospital and Beijing Hongyang HospitalBeijing Gushengtang Health Management Co., Ltd., a subsidiary of Gushengtang Holdings Limited (02273), has recently entered into equity transfer agreements with Seller A, the ultimate beneficial owner of Shahe Hospital; Seller B, a shareholder of Beijing Hongyang Hospital; and Seller A, the ultimate beneficial owner of Beijing Hongyang Hospital, respectively. The transactions aim to acquire controlling interests in both Shahe Hospital and Beijing Hongyang Hospital. Shahe Hospital primarily provides integrated traditional Chinese and Western medical services, while Beijing Hongyang Hospital specializes in traditional Chinese medicine (TCM) services. Both hospitals are located in Changping District, Beijing. Upon completion of the acquisitions, the two hospitals will become subsidiaries of Gushengtang, with their financial results consolidated into the Group’s comprehensive financial statements. This acquisition aligns with Gushengtang’s strategy to expand its offline medical institution network through mergers and acquisitions, helping to increase its market share in Beijing and generate synergistic effects. (Source: Sina Finance)

RMB 1.34 Billion! A Near-Market Autoimmune Monoclonal Antibody Sold

On the evening of July 1, Junshi Biosciences (688180.SH) announced that it had signed a License Agreement with Fosun Wanbang Pharma Group, a wholly-owned subsidiary of Fosun Pharma, on June 30. Under the agreement, Junshi Biosciences has divested the exclusive rights for the development, registration, manufacturing, and commercialization of its self-developed anti-IL-17A monoclonal antibody, ruokocibart (JS005), in the Greater China region. The transaction consideration consists of a rigid upfront payment of RMB 215 million, tiered milestone payments of up to RMB 1.125 billion, and graded sales royalties, bringing the total potential value to a maximum of RMB 1.34 billion. (Source: Arterial Network)

Over $600 Million! Insilico Medicine Secures Another Major AI Drug Discovery Deal

On July 2, Insilico Medicine (HKEX: 3696), a clinical-stage drug discovery technology company powered by generative artificial intelligence (AI), announced that it had entered into a global strategic collaboration with Takeda Pharmaceutical Company Limited. The two parties will leverage Insilico Medicine’s proprietary end-to-end Pharma.AI platform to jointly advance the development of candidate drugs in multiple therapeutic areas selected by Takeda. (Source: Arterial Network)

Yiru Technology Completes Over RMB 100 Million in Series A Financing

Yiru Technology (Hangzhou) Co., Ltd. (hereinafter referred to as “Yiru”) announced the completion of its Series A financing round, exceeding RMB 100 million. This round was co-led by Erdos Group and Heda Jinfu, with Nest Capital participating as a follow-on investor. China Renaissance served as the exclusive financial advisor for this financing round. (Source: VentureBeat)

Leo Summit Completes Fourth Round of Financing, with Total Funding Reaching Hundreds of Millions of Yuan

Lei’ao Dingfeng Biotechnology Co., Ltd. recently announced the completion of its fourth round of financing, bringing its cumulative fundraising total to the hundred-million-yuan level (RMB). This round was led by Qingyuan Capital. The funds will be primarily used for core technology research and development, the construction of a smart laboratory product system, global market expansion, and the recruitment of high-end talent, further advancing the development of automation and intelligent technologies in life science laboratories. (Source: Arterial Network)

Ruixin Medical Completes Financing Round Worth Hundreds of Millions

Recently, Shenzhen Ruixin Intelligent Medical Technology Co., Ltd. (hereinafter referred to as “Ruixin Medical”) officially announced the completion of a new strategic financing round amounting to nearly RMB 100 million. This round of financing was jointly invested by Haihe Industrial Fund and Zhongli Fund, representing state-owned industrial capital at both municipal and district levels in Tianjin. The project has been officially established in Tianjin, which will comprehensively accelerate the industrial expansion of Ruixin Medical’s full product line and the large-scale promotion in the northern market. (Source: Arterial Network)

Ruijie Rongchuang Completes Tens of Millions in Pre-A Financing

Shanghai Ruijie Rongchuang Medical Technology Co., Ltd. (hereinafter referred to as “Ruijie Rongchuang”) completed its Pre-A financing round in March this year, led by Furong Investment and followed by Sanxin Medical. The funds from this round will be fully invested in three core areas: the research and development of innovative silk fibroin medical devices, the iteration of core material processes, and the registration and declaration of products across the entire pipeline. (Source: VentureBeat)

The General Office of the National Medical Products Administration Released the “Announcement on Optimizing Matters Related to the Review and Approval of Cell and Gene Therapy Drugs (Draft for Comment)”

On July 3, 2026, the General Office of the National Medical Products Administration (NMPA) released the “Announcement on Optimizing Review and Approval Procedures for Cell and Gene Therapy Drugs (Draft for Comment),” which specifically proposed including eligible cell and gene therapy (CGT) drugs in the 30-day review and approval channel for innovative drug clinical trials, thereby enhancing the quality of clinical development. Previously, the standard timeframe for reviewing and approving clinical trial applications for innovative drugs was 60 working days. Notably, in August 2024, the NMPA had issued the “Pilot Work Plan for Optimizing the Review and Approval of Clinical Trials for Innovative Drugs,” which explicitly stated that “cell and gene therapy products are excluded.” This time, however, CGT products are not only no longer excluded but have been specifically included in the accelerated review channel. This shift—from exclusion to inclusion—reflects the regulatory authorities’ assessment of the maturity of the CGT industry, signaling that the sector has fully entered a new stage emphasizing compliance, scalability, and commercialization. (Source: VBD Medical)