CD Capital Portfolio Highlights: September 2025 – Multiple Companies Achieve Regulatory Approvals, Funding Rounds, and Global Expansions

Recently, the intracranial deep electrode developed by Genlight Neurotech has officially passed the approval of the National Medical Products Administration (NMPA) and obtained the Class III medical device registration certificate!

Recently, Fluence Therapeutics announced the completion of a $77 million financing round, which includes approximately $50 million in Series C equity financing and $27 million in debt financing. The proceeds from this round will be used to advance the company's global radiopharmaceutical pipeline and the construction of its production facility in Belgium.

With the completion of this round of financing, Fulllink Technology has cumulatively raised nearly 200 million US dollars since its establishment in 2021, including equity financing, debt financing, and BD transaction payments.

This round of equity financing was led by JiaChen Capital, with co-investors including LongPan Investment, Plaisance, ZhenMai Investment, and other high-quality institutions. Existing shareholders such as Chengwei Capital, GeDing Venture Capital, Sequoia China, Prosperity7, XiaYan Capital, and several other institutions continued their investment. In addition to the Series C equity financing, the company also successfully secured approximately 27 million US dollars in debt financing as flexible funding support. This will provide additional financial solutions for the development of the company's clinical pipeline and early preclinical project exploration, while ensuring the smooth completion of its production base in Belgium.

This CT machine features a super-large 1-meter aperture and a 62-centimeter ultra-slim gantry. With a height of 2.65 meters, it requires no modifications to the shielded room and can perform high-definition, low-dose full-body scans.

RecentlySinovision Technology Receives More Good NewsThe Beijing Municipal Science and Technology Commission and the Zhongguancun Science Park Management Committee jointly released the 20th batch of the "Beijing New Technologies, New Products, and New Services" list. The AlphaCT 968 high-end CT, independently developed by Sinovision Technology (Beijing) Co., Ltd., has been successfully selected for its outstanding innovation and technical strength.

AlphaCT 968, developed and produced by a Beijing-based company, is the first domestically-produced ultra-high-end CT scanner in China and represents the highest level of domestically-made 512-slice CT equipment. It boasts the fastest scanning speed in China and the second-fastest globally. The product integrates a 16cm wide-body detector independently developed and manufactured by Sinovision Technology (Beijing) Co., Ltd., achieving a scanning speed of 0.235 seconds per rotation. While enhancing image quality, it also reduces the radiation dose received by patients.

The intelligent target heart scanning technology equipped on this device breaks through the limitations of human physiological structure, placing the scanned organs at the center of optimal image quality. It performs excellently in clinical scenarios such as cardiovascular and lung nodule screening, providing critical imaging evidence for the early identification of lesions.

Currently, AlphaCT 968 has been successfully installed in several top-tier hospitals across China. Its stable and efficient performance, along with high-quality imaging, has gained widespread clinical recognition, assisting partner institutions in upgrading their diagnostic and treatment capabilities.

This selection not only represents the government's high recognition of Sinovision Technology's innovation and product strength but also once again highlights the company's continuous efforts in promoting the independent control of domestically produced high-end medical equipment. Sinovision Technology will continue to adhere to innovation as the driving force, supporting the high-quality development of China's high-end medical equipment industry.

Recently, Zhejiang SprintRay Co. (SprintRay China) made a stunning appearance at the Global Digital Trade Expo (hereinafter referred to as the "Digital Trade Fair") with its revolutionary product—the Midas Digital Chairside Immediate Restoration System—and won the fair's "DT Award - Gold Prize"! This is not only high recognition of SprintRay’s technological innovation capabilities but also a resounding step for SprintRay onto the world stage.

As the only national and international exhibition in China with digital trade as its theme, the Digital Trade Fair gathers cutting-edge technologies and application scenarios of global digital trade, serving as an important window to observe the dynamics of digital economy development. This year's exhibition, themed "Digital Trade, Connecting the World," focuses on frontier areas such as digital logistics, digital healthcare, and digital content. The award received by SprintRay Co. is a concentrated representation of innovative achievements in the digital healthcare sector.

Traditional dental restoration often involves multiple steps such as taking impressions, sending them to a dental lab, and waiting for several days, requiring patients to make multiple visits. The birth of the Midas digital chairside immediate restoration system is precisely aimed at solving this pain point:

One-stop Solution:Integrated intraoral scanning, AI design, 3D printing, and post-processing into one system, completing the restoration process for crowns, inlays, etc., within 1 hour, achieving true "chairside immediate restoration."

Precision and Efficiency:Using Digital Projection Stereolithography (DPS) technology, combined with self-developed light-curing crown and bridge resin for additive manufacturing, the restoration achieves excellent marginal fit, good wear resistance, and outstanding aesthetic results.

Digital Empowerment:Seamlessly integrate clinical data, significantly reduce human error, and empower clinics to achieve digital upgrades in diagnostic and treatment processes. The Midas system not only addresses the pain points of dental restoration but also reshapes the doctor-patient interaction model. It allows doctors to control the entire process within the consultation room, enabling patients to receive services 'while-you-wait,' serving as an exemplary model of the deep integration of digital technology and dental treatment scenarios.

Behind the Gold Award of the Digital Trade Fair lies SprintRay Co.'s long-term commitment to technological innovation, as well as a microcosm of the vigorous development of China's digital trade. With the popularization of cutting-edge technologies like Midas, "immediate restoration and same-day wear" in dental treatment will become the new norm. In the future, SprintRay Co. will continue to focus on clinical needs, using 3D printing to change the world and create higher-quality health services for humanity.

Recently, the snake-like arm single-port surgical robot independently developed by Beijing Surgerii Technology Co., Ltd. has obtained the EU CE certification (MDR EU 2017/745). It is approved for use in urology, gynecology, general surgery, and thoracic surgery endoscopic procedures, and can be used to treat benign or malignant diseases within the thoracic or abdominal cavities. It is suitable for adult and pediatric patients who meet the conditions for minimally invasive surgery.

This marks Shurui^@After achieving a breakthrough in the Chinese market, the robot has also successfully passed the rigorous review of international authoritative institutions and officially set sail on the global stage. Not only has it become the world's first single-port surgical robot to obtain CE certification following the Da Vinci Single-Port Robot, but it has also broken through the technical ceiling of the Da Vinci Single-Port Robot, becoming the only single-port pediatric surgical robot to receive CE certification. Moreover, it has become the first Chinese surgical robot approved for use across the entire European Union population!

SurgeTech^®Since its establishment, the robot company has always adhered to independent innovation, overcoming several "chokepoint" core bottlenecks. It has successfully implemented world-first technology after a decade of research and development accumulation and technical refinement, achieving an original breakthrough from zero to one. The company has pioneered snake-arm single-port surgical robot technology, where the highly flexible snake-like arm can reach complex areas of the human body through a single small incision for precise operation, completely颠覆ing the traditional mode of operation with rigid straight-bar instruments.

Surge Robotics' Single-Port Robot Becomes the First Chinese Surgical Robot Approved for Full Population in the EU, Not Only Filling the Gap in China’s Global Surgical Robotics Field, Providing a Chinese Solution for the Development of Global Minimally Invasive Surgery; But Also, by Being the First to Obtain Approval in Europe for Pediatric Use, Fully Demonstrating the New Strength of China's Independent Innovation in High-End Medical Equipment.

As of now, Shurui^@The robot has established clinical collaborations with more than 70 hospitals in China, nearly 10 hospitals in Europe, completed over 2,000 surgeries covering all surgical fields, and carried out clinical practices on more than 50 innovative surgical procedures. These efforts fully demonstrate the excellent performance of the Sureport Single-Port Robot in terms of surgical safety, clinical adaptability, operational flexibility, and surgical precision, providing solid clinical data support for its subsequent global promotion.

Recently, Rayleigh Medical's 10 mass spectrometers successfully won the bid! All are well-known tertiary hospitals in China, covering top medical institutions in Shanghai, Chongqing, Shandong, Shaanxi, and Henan.

At the same time, the company has recently completed its Series B+ financing round. This round was exclusively invested by Hangzhou Gongshu Industrial Investment Fund Co., Ltd. ("Gongshu Industry Investment" for short). This financing round not only represents a high level of recognition for the company's technical strength and development prospects, but will also inject crucial momentum into the research and development of core technologies, the expansion of the product portfolio, and the strategic layout of the global market.

Since its establishment, the company completed the registration of China's first fully independent intellectual property trace element analyzer based on Inductively Coupled Plasma Mass Spectrometry (ICP-MS) —— Inspector SQ60 in 2021, which has been widely recognized by medical institutions in China; In 2024, it completed the registration of INSPEC 9000, a liquid chromatography-tandem mass spectrometry detection system with full independent intellectual property rights and original research and development in China. With multiple small-molecule precision detection kits covering mainstream clinical mass spectrometry testing projects entering the market, it provides more precise foundational detection tools for clinical medicine.

Recently, Bioheart's Iberis Renal Denervation System (RDN) has successfully passed the review of Singapore’s Health Sciences Authority (HSA) through the "Special Approval Channel for Innovative Medical Devices (GN-27)" and has been approved for clinical treatment in Singapore. As an important milestone in the development of this system, this approval not only advances its compliance process in the Asia-Pacific market to a new stage but also provides local hypertension patients with a new interventional treatment option that combines effectiveness and safety, further enriching clinical treatment methods.

As an innovative technology in the field of global hypertension interventional treatment, RDN (Renal Denervation) uses radiofrequency energy to block the renal artery's sympathetic nerves, providing a non-pharmacological treatment option for patients with poorly controlled hypertension. The recent approval of the Pulnovo Iberis RDN System by Singapore’s GN-27 special review process not only represents authoritative recognition of its safety and efficacy but also highlights the supportive stance of Singapore's medical regulatory authorities toward innovative medical devices.

From the perspective of market layout, Singapore, as the hub of medical technology innovation in the Asia-Pacific region, has paved the way for the subsequent entry of the Pulnovo Iberis RDN System into Southeast Asia and other Asia-Pacific markets with this approval. In terms of clinical value, the system will help improve the interventional treatment system for hypertension in Singaporean hospitals, offering a new therapeutic option to over 1.3 million local hypertensive patients (estimated based on WHO 2023 data), especially those who cannot tolerate multiple antihypertensive drugs or have suboptimal drug control outcomes.

Recently, the first overseas fully automatic hematology analysis assembly line DH-8000 by Dima was officially put into operation at Gaziantep Hospital in Turkey, injecting Chinese momentum into local medical testing services with its strong capabilities.

As one of the major comprehensive hospitals in Turkey, Gaziantep Hospital currently handles a daily sample volume of 2,500 to 5,000. With further demand expected to be released, the daily sample volume is projected to exceed 8,000 to 10,000 in the coming months. In response to the growing testing needs, Gaziantep Hospital has extremely stringent requirements for the accuracy and stability of its testing equipment.

The laboratory quality manager clearly stated, "The Dima DH-8000 fully complies with our hospital's quality testing standards, and its automated processes significantly improve testing efficiency and consistency." The DH-8000 integrates intelligent sorting, precise analysis, and digital management functions, reducing manual operation errors while providing clinical support with faster and more accurate diagnostics.

Dr. Yunus Goren, an expert in clinical biochemistry and department administrator, further pointed out that artificial intelligence, big data, and intelligent systems have become the core of laboratories. Nowadays, the laboratory department not only focuses on testing but also analyzes massive amounts of data with precision, providing data support for clinical decision support systems and assisting doctors in their diagnostic processes.

In the future, Di Mai will continue to deeply cultivate the global market, providing products and solutions that better meet the medical needs of different regions, breaking down geographical and technical barriers, so that high-quality medical testing services can benefit more countries and people, making diagnosis and treatment simpler.

Recently, Xinyi Medical and KANEKA Group, a Japanese listed company, have reached a distribution cooperation agreement regarding Xinyi Medical’s neurovascular microguidewires through its U.S. subsidiary. The company will serve as Xinyi Medical's exclusive strategic partner in the U.S. market, facilitating the official entry of Xinyi-manufactured neuro microguidewires into North America's high-end medical market.

KANEKA Group has深耕多年 in the field of blood purification equipment in the North American market, establishing a solid performance foundation. Since entering the field of cerebrovascular interventional treatment in 2020, it has continuously provided direct supply services to some of the world's leading neurology centers. This collaboration marks the deep integration of "Made in China" and KANEKA's international medical field experience, taking a strategic step towards the most challenging high ground of global medical devices.

This means that Xinyi Medical, rooted in independent research and development and integrating advanced overseas technologies, has created high-quality neurovascular micro-guidewires through technological innovation. With the distinct identity of "Made in China," these products will meet the most demanding clinical needs globally in North American operating rooms, competing head-to-head and showcasing their capabilities.

Recently, the EasyNAT Herpes Simplex Virus (HSV) 1+2 Typing Nucleic Acid Detection Kit from YouSiDa Biotech officially obtained the NMPA Class III Medical Device Registration Certificate. This is the first molecular POCT detection system in China that can be used for precise typing of HSV-1 and HSV-2 in whole-body herpes fluid samples, breaking through existing testing limitations and providing clinical settings with a more comprehensive and convenient diagnostic solution for herpes viruses.

Herpes Simplex Virus is one of the most common viral infections globally. HSV-1 primarily causes facial and mucocutaneous lesions above the waist, such as oral herpes, keratitis, or encephalitis. HSV-2 mainly leads to genital and mucocutaneous lesions below the waist, associated with genital ulcers, neonatal herpes, and an increased risk of cervical cancer. There is no absolute boundary between diseases caused by the two subtypes; for instance, HSV-1 can cause genital herpes, while HSV-2 may lead to oral and perioral infections. Traditional detection methods have significant limitations. YouThink Biotech's first POCT typing reagent achieves precise HSV-1/2 subtyping within 49 minutes for the first time, supporting whole-body vesicular fluid samples.

Recently, Surio Therapeutics Co., LTD. announced that the IND application for its globally first-in-class anti-tumor drug SURIO-001, independently developed by the company, has received tacit approval for clinical trials from the Center for Drug Evaluation (CDE) of China. Surio Therapeutics is about to initiate Phase I clinical research.

SURIO-001 is the first anti-tumor targeted drug developed on Surio Therapeutics' globally pioneering ATTACK technology (Active Tissue Targeting via Anchored ClicK Chemistry) platform. It is a combination therapy that utilizes the tumor-specific labeling drug ST114 in conjunction with the cytotoxin conjugate ST205.

ST114 is a non-natural sugar derivative developed based on ATTACK technology, which can specifically recognize and label tumor cells with artificial receptors capable of undergoing click chemistry. The tumor-specific target it addresses shows a positive expression rate of over 20% across a range of solid tumors. ST205 is a small-molecule toxin conjugate developed using ATTACK technology, with the toxin payload being a tubulin inhibitor. It can specifically recognize artificial receptors inserted into the tumor cell surface by ST114 through click chemistry, thereby enabling targeted toxin delivery and targeted therapy for tumors.

SURIO-001 has broad potential applications in the treatment of gastric cancer, biliary tract cancer, bladder cancer, kidney cancer, head and neck cancer, cervical cancer, ovarian cancer, breast cancer, prostate cancer, pancreatic cancer, liver cancer, and colorectal cancer.

Recently, a site inspection team jointly formed by the China Institute of Veterinary Drug Control, Hubei Provincial Department of Agriculture and Rural Affairs, Hubei Provincial Veterinary Drug Control Institute, and Wuhan Municipal Bureau of Agriculture and Rural Affairs arrived at Wuhan Grin Biotechnology Co., Ltd. (hereinafter referred to as "Grin") to carry out the GMP on-site inspection and acceptance for veterinary biological products phage preparations.

The review process strictly followed the standard specifications, conducting a comprehensive inspection from multiple dimensions, including production facilities and equipment, quality control systems, personnel operation processes, and document management systems, to ensure that every indicator met the GMP certification requirements. After a comprehensive evaluation by the review team, the bacteriophage preparation (static) production line of Wuhan Grinong Biotechnology Co., Ltd. successfully passed the acceptance and was recommended as a GMP-qualified production line due to its complete quality assurance system, advanced production process layout, and standardized on-site management.

The result was publicly announced from August 11 to August 19, 2025, and on September 4, 2025, the bacteriophage preparation received the "GMP On-site Inspection and Acceptance Notice for Veterinary Drugs," successfully passing the GMP inspection. This marks the birth of the world's first GMP factory for bacteriophage preparations.

The passing of this inspection signifies that Greennov has achieved a key transition from technological research and development to standardized production in the field of veterinary bacteriophage preparations. This milestone is emblematic in the industrial development of bacteriophages in China, filling the gap for GMP-standardized factories producing veterinary bacteriophage preparations domestically. It sets a new benchmark for the bacteriophage industry in terms of "production quality standard planning" and will further promote the high-quality development of China's veterinary bacteriophage industry.