Healthcare Industry Weekly Report: 18 Financing Deals in China Highlight Innovation in Brain-Computer Interfaces and Artificial Hearts

【Targeted RNA Small Molecule Drugs】Ribopeutic was founded in September 2022, with its headquarters located in Qiantang District, Hangzhou. It is a biotechnology company focused on the research and development of innovative small-molecule drugs targeting RNA. The company’s core direction is "discovering small-molecule targetable sites within the stable tertiary structures of RNA." Relying on three major technological features — an AI-powered dry-wet closed-loop target discovery platform, an end-to-end drug discovery technology platform, and a world-class R&D team — Ribopeutic has established a robust R&D pipeline covering central nervous system diseases, cancer and immune disorders, and infectious disease prevention and treatment. Professor Yaoqi Zhou, the scientific founder, is an international leader in the field of RNA structure prediction and has led the development of groundbreaking technologies such as the MARS database and the Spot-RNA secondary structure prediction method. Co-founder Dr. Jian Zhan is the core inventor of methods for discovering stable RNA tertiary structures, while co-founder Dr. Chao Fang has over eight years of experience in the industrial development of small molecules targeting RNA.

【Investor】Panlin Capital, Shenzhen Tasly Angel Pharmaceutical Private Venture Capital Fund, Chengxin Venture Capital, Zhejiang Province "4+1" Biopharmaceuticals and High-End Medical Devices Industry Fund, YuanSheng Venture Capital

【Botulinum Toxin Drugs】Shanghai Ruoyi Biotechnology Co., Ltd., a biotech startup incubated by ShanghaiTech University, focuses on the innovation and development of botulinum toxin and botulinum-like toxin protein drugs. The company is committed to the research and application of "0 to 1" original biotechnology and specializes in the development of pharmaceuticals with consumer attributes. After an in-depth study of the molecular mechanisms of botulinum toxin protein drugs, the company has completed a leapfrog pipeline layout, entering the 3.0 and 4.0 eras of botulinum toxin drugs. The third-generation botulinum toxin product maintains 100% of the natural amino acid sequence of botulinum toxin, maximizing clinical certainty comparable to marketed products, while improving drug attributes such as duration, safety window, and distal diffusion through optimizations in formulation. Currently, one product has been approved for IND, and another has begun collecting IND-enabling data. The company has completed the reserve of multiple engineered botulinum toxin pipelines (fourth-generation products), such as engineered botulinum toxin proteins based on zinc finger protein delivery technology, AI-driven botulinum toxin modifications, and novel serotype botulinum toxins. Some products have completed proof-of-concept and passed internal corporate project approval, entering the CMC stage.

【Investor】Shanghai Gaoqi Industrial Co., Ltd.

【Small Nucleic Acid Drugs】Haichang Biotech, located in the China Medical Valley in Hangzhou, is a company driven by biopharmaceutical technology innovation and integrates R&D, production, and sales. It focuses on the technical development and industrial application of drug delivery systems, with a product pipeline covering multiple fields such as anti-cancer, cancer immunotherapy, pain relief, and infectious disease prevention. Its independently developed QTsome® technology platform has successfully broken through international patent barriers for nucleic acid delivery systems, overcoming key "bottleneck" technologies. HC0301, an innovative small nucleic acid drug for primary liver cancer developed based on this platform, has entered Phase II of international multicenter clinical trials in China and the United States, becoming one of the fastest progressing pipelines in the global field of precise small nucleic acid cancer treatment. In the complex injectables sector, its core product, albumin-bound paclitaxel for injection, has been approved for marketing in nearly 40 countries including China, the EU, and the UK. Haichang Biotech is the first Chinese company to obtain EU marketing authorization through centralized review, with two production sites simultaneously passing EU GMP inspections. The world’s first TLR9 agonist lipid complex injection, HC016, based on lipid nanoparticle (LNP) delivery technology, has received IND approval in both China and the United States. The mRNA COVID-19 vaccine booster HC009 obtained clinical approval from the U.S. FDA, becoming the first Chinese-produced mRNA vaccine product to receive U.S. clinical approval.

【Investor】SDIC Technology, Zhejiang Province "4+1" Biopharmaceuticals and High-end Medical Devices Industry Fund, Kexing Biotech

【Antibody-Drug Conjugates】Minghui Pharma is a clinical-stage innovative biopharmaceutical company focused on the fields of oncology and immune-related diseases. Leveraging its strong R&D capabilities and proprietary technology platforms, the company has built a diversified, differentiated, and globally competitive product pipeline. Core products include: an innovative topical JAK inhibitor for which an application has been submitted in China; a subcutaneous IGF-1R antibody injection for thyroid eye disease currently in Phase III clinical trials; a PD-1/VEGF bispecific antibody in Phase II clinical stage being evaluated in combination with TROP2 ADC; and a B7-H3 ADC for second-line small cell lung cancer treatment in Phase III clinical stage. Both ADC products have demonstrated robust best-in-class potential.

【Investor】Qiming Venture Partners, OrbiMed, TF Capital, Boyuan Capital, 5Y Capital, Junyi Investment, Shizhen Capital

【AMI Antibody Drug】Since its establishment in 2018, Shunjing Pharmaceuticals has consistently focused on the development of original antibody drugs, concentrating on addressing unmet clinical needs. It has built a high-quality, world-class R&D system, including innovative mono/bispecific antibody drug development, antibody-drug conjugates (ADC/AOC) development, original immunomodulatory ADC/AOC drug development, and AI-based drug discovery platforms, as well as an evaluation system for the drugability of therapeutic antibodies. The company's innovative drug, SGC001 Injection, has successively received approval for clinical trial applications (IND) from the U.S. FDA and China's CDE. In March 2025, it obtained Fast Track designation from the U.S. FDA and is currently undergoing Phase Ib clinical trials across multiple centers in China, with the Phase Ib patient enrollment completed, indicating a potentially vast market space.

【Investor】Shan Zheng Innovation, Hainan Shuze, Daxing District Talent Science and Innovation Fund

【Imaging Flow Cytometer】Elfin Life: Mission to "Popularize Spectral Imaging Flow Cytometry Globally"

【Investor】Legend Capital, Mingxi Capital, Hubei Science and Technology Investment Co., Ltd.

【Disposable Endoscope】Hankmei Medical was founded in 2016 and is dedicated to the research and development of innovative medical imaging products and solutions. The company has gathered industry experts specializing in signal analysis, image processing, material science, precision manufacturing, as well as technical research, product development, and industrialization. Hankmei Medical provides patients with cleaner, safer, and affordable professional endoscopic diagnostic and therapeutic innovations. The company’s self-developed endoscopic system platform, based on CMOS image sensors, serves as the core driving force for a new generation of reusable and single-use endoscopes. Its core product series, including single-use endoscopes for urology, respiratory, and digestive applications, offers sterile professional endoscopic diagnosis and treatment experiences for patients and medical institutions.

【Investor】Zhanjiang Fund

【Microcatheter】HUANXIN Medical, established in September 2020 by core engineers of medical devices, clinical experts, and capital parties, is an innovative high-end medical device enterprise focusing on the research and development, manufacturing, and technological innovation of interventional medical devices. The company focuses on sub-sectors such as cardiac intervention and pan-vascular intervention, providing one-stop solutions for precise interventional treatment. Headquartered in Suzhou Biomedical Industrial Park, the company has set up a research and development center in Galway, Ireland, integrating global high-value consumables R&D and production technology to accelerate technology transformation and product overseas layout. In July 2023, the company's OccluFar® Balloon Occlusion Microcatheter received the Class III medical device registration certificate from the National Medical Products Administration (NMPA). This product not only fills a domestic gap in China but also ranks among the top three global technology echelons. The company has obtained approval for seven products (including Class III devices) and plans to obtain approval for 9-10 more products in 2024-2025. The short-term goal is to achieve self-sufficiency, while the long-term focus is on advancing CE/FDA certification.

【Investor】Daoyuan Capital, Ruihua Holdings, TF Capital

【Artificial Heart】Aerospace Taixin Technology Co., Ltd. was established in 2016, jointly funded by the China Academy of Launch Vehicle Technology, Beijing Research Institute of Precision Machinery and Control Devices, and the State-owned Assets Operation Company of Tianjin Economic-Technological Development Area. As the first high-end medical device enterprise in China to transform aerospace technology into medical equipment, the company focuses on "medical-engineering integration" and "civil-military integration," specializing in the research, development, and industrialization of full-cycle management solutions for heart failure treatment. Its core product, the "Rocket Heart" (HeartCon implantable left ventricular assist system), has broken the monopoly of foreign implantable artificial hearts, becoming the first domestically produced product of its kind with fully independent intellectual property rights, filling the gap in China’s high-end medical equipment sector. The company's core advantage lies in the deep integration of aerospace and medical technologies: relying on the aerospace servo technology, fluid design, and numerical simulation expertise of the China Academy of Launch Vehicle Technology, it transforms precision aerospace manufacturing technology into a core barrier for medical device R&D. At the same time, it has built an entire industry chain ecosystem for "interventional artificial auxiliary hearts," covering fundamental research, technological development, product manufacturing, clinical applications, and training for heart failure treatment, forming a one-stop service capability from R&D to clinical application.

【Investor】Beijing Yunji

【AI + Protein New Drug Development】As an AI pharmaceutical company founded by researchers from Shanghai Jiao Tong University, Zhiyao Yuanchuang is a "leader" in protein drug design technology. Since its establishment in November 2023, the company has quickly risen to prominence by collaborating with members of the Nobel Prize-winning chemistry team in protein design, the inventor of the RFDiffusion method for protein backbone design, and the co-founder of the internationally renowned protein design company Xaria to launch MotifBench, a protein design algorithm evaluation platform. It has developed an end-to-end, graphical, one-click generative platform with independent intellectual property rights for AI-driven protein drug design. The company has also established project collaborations with multiple publicly listed pharmaceutical companies in and outside China to accelerate protein drug development services and advanced seven proprietary protein drug pipelines. The company's mission is to leverage generative artificial intelligence technology to develop innovative drug screening algorithms, aiming to address the challenges of long screening times and low accuracy in protein drug discovery. Its goal is to create efficient and precise protein drug screening software, focusing on peptide drug screening and conducting laboratory validation of protein activity, affinity, and solubility to tackle major diseases such as endocrine disorders, gastrointestinal conditions, and bone-related ailments.

【Investor】Huafu Growth Investment

【Brain-Computer Interface】Beijing Zhiran Medical Technology Co., Ltd., established in 2022, is an innovative company founded by a team of world-class scientists specializing in advanced materials, micro-nano manufacturing, artificial intelligence, and neuroscience, along with an experienced corporate management team. Rooted in China's invasive brain-computer interface field, the company is committed to developing a new generation of high-throughput flexible brain-computer interface platforms based on invasive flexible electrodes. To date, it has been granted more than 30 patents both in China and internationally. With decades of research in flexible electrode materials, the R&D team independently developed an invasive high-throughput flexible electrode that has obtained patent authorization in both China and the United States, setting a precedent in the industry. The electrode, made from ultra-thin flexible material with micron-level thickness, significantly reduces brain occupancy and implantation damage. It has passed biocompatibility testing, and its excellent mechanical compatibility with brain tissue ensures safe implantation. The company has also developed a deep neural network algorithm and built a high-precision EEG data platform, pre-training neuron EEG models to achieve high-precision, real-time, and highly versatile online decoding. To promote large-scale clinical applications in the future, an automated implantation robot has been developed for precise and efficient automatic electrode placement.

【Investor】Legend Capital, IDG Capital, Beijing Medical and Health Fund, Vivo Capital, Lenovo Ventures, BV Baidu Ventures, China Life Capital

【AI + Chronic Disease Management】Chengdu HealCare Medical Technology Co., Ltd. was established in August 2024, focusing on "chronic disease management" as its core direction and innovating in the broader health sector. It is committed to providing intelligent and scenario-based solutions for the medical industry. Its self-developed Diabetes Management System (DMS) supports full-cycle management for diabetic patients (data monitoring, medication guidance, health interventions, etc.) and has covered 31 provinces in China, serving nearly 2,000 hospitals. The company possesses extensive market coverage and mature application validation. By integrating AI technology, the company deeply embeds artificial intelligence into high-end diagnostic and treatment scenarios, forming a closed-loop model of "technology + scenario + commercialization," aligning with capital's focus on projects with "clear profit models."

【Investor】Chengdu Tianfu International Bio City Investment, Chengdu High-Tech Venture Capital

【Neurosurgery Course Management】Nanjing Zhuwei Medical Technology Co., Ltd. focuses on the integrated digital intelligence platform development for neurosurgery. By leveraging artificial intelligence and big data connectivity, the company provides patients with comprehensive digital intelligent services for full-course disease management. The company’s "integrated digital intelligence platform for neurosurgery" aligns with three major technological trends: surgical navigation, intelligent quantification, and remote collaboration.

【Investor】Fortune Venture Capital, Huaxing Kangping

【Automated Traditional Chinese Medicine Pharmacy】Xin Heng Technology, established in 2012, is headquartered in Suzhou Industrial Park. It is a company that develops and manufactures a full range of fully automated traditional Chinese medicine (TCM) dispensing, compounding, and decoction equipment for the entire process. One of the company's core products is the fully automatic TCM pharmacy, which targets small-package TCM slices and formula granules, achieving a dispensing speed of 3 seconds per dose with an accuracy rate exceeding 99%, saving 90% of labor costs, allowing patients to receive their medication immediately. Additionally, the unmanned intelligent decoction room achieves full automation of the decoction process through IoT technology, supporting remote monitoring and data traceability to ensure the stability of medicinal efficacy. The company’s automatic dispensing and automatic decoction systems utilize AI technology, mechanical structure design, and algorithms to address the challenges of accurately retrieving, correctly measuring, and precisely dispensing TCM herbs. Moreover, they maintain the traditional decoction process without change, ensuring thorough soaking and concentrated decoction without waste, consistent dosage in every bag, error-free operations throughout the process, and reliable, visible, and traceable results. The company has applied for 202 patents, including 25 invention patents, filling technical gaps both domestically and internationally.

【Investor】China Radio Investment, Weixi Capital

【AI+Cardiac Ultrasound Imaging】Kunlong Kangxin Medical is a company focused on the research, development, and industrialization of AI + ultrasound intelligent imaging diagnostic equipment, AI + cardiac intelligent high-end testing equipment, and advanced intelligent medical devices. It is a global technological leader in digital analysis for cardiac ultrasound, integrating device manufacturing, software development, and algorithm research. The company possesses full core proprietary intellectual property rights and a complete set of analytical tools. Kunlong Kangxin owns all core codes, patents, software copyrights, and hardware design and development kits for its R&D products. Leveraging artificial intelligence technology, it achieves automated quantitative measurement of four-chamber cardiac function indicators with precision equivalent to cardiac MRI. The company is committed to breaking through key international technological barriers using innovative artificial intelligence "deep learning" technologies, independently developing core algorithms and producing intelligent equipment. It provides a one-stop cardiac medical digital analysis system and intelligent equipment solutions for early screening, disease diagnosis, and postoperative prognosis across different populations.

【Investor】Guoyao Capital

【Absorbable Biomedical Materials】Yizheng Biotech was established in September 2021, with its headquarters located in Suzhou Industrial Park. It is a technology-based medical enterprise specializing in the research, production, and sales of bio-medical absorbable materials, primarily serving the medical aesthetics industry. Relying on the core advantages of an "independently controlled technology system + dual-base layout + experienced medical aesthetics team," the company has formed a complete industrial chain of "R&D (Suzhou) + Production (Chengdu) + Sales (China)." Its product portfolio covers three main segments: regenerative medicine aesthetic products, medical devices, and technical services. The regenerative medicine aesthetic products, based on absorbable material technology, provide safe and natural minimally invasive cosmetic solutions (e.g., facial fillers, soft tissue repair materials).

【Investor】CDH Investments, Chengdu Jingcheng Yanbei Technology

【Children's Intelligent Eye Protector】Ruisi Technology, relying on globally leading AI optical neural modulation technology and solid clinical evidence-based medical proof, focuses on addressing the core pain points of myopia prevention and control among adolescents. Starting with myopia intervention, the company gradually builds an intelligent "light-eye-brain" treatment closed-loop system that integrates optical stimulation, neural regulation, and AI feedback. Centered around the technical pathway of visual neural regulation, the company develops a "strong technology + soft standard" product system to achieve "multi-point efforts." At the hardware level, it innovatively introduces bionic optical modules; at the algorithm level, it constructs an intelligent regulation mechanism based on AI recognition and personalized output. Relevant products show high consistency and statistical significance in controlling axial growth and slowing refractive development. In application scenarios, the company is committed to seamlessly integrating treatment into daily life scenarios, achieving "learning while treating, playing while regulating," creating a new paradigm of behavior-neural integrated non-invasive treatment. With a network covering hundreds of professional institutions and over 1000 stores, the company has initially built a "product-data-service" integrated closed-loop system, providing a solid verification foundation for the future implementation of long-term prescription-based treatment models.

【Investor】Chengdu Huaxi Specialized and Innovative Fund, Innovation Works

【Medical Beauty Materials】Shanghai Moyang Biotech, established in 2018, is a company dedicated to the research, production, sales, and consulting services of nano-medical biomaterials and absorbable Class III implant products, holding fully independent patents. Its product, aphranel Youfalane™, is a high-end injectable hydroxyapatite microsphere facial filler independently developed in China. It is the first product to receive Class III medical device registration certification for medical aesthetic indications approved by the NMPA. Not only has it simultaneously obtained international authoritative certifications such as the EU MD, MDSAP certificates from five countries, and product registration certificates following Mexico's COFEPRIS review, but it is also one of the leading medical aesthetics brands globally to achieve precise control over CaHA microsphere particle size, pore size, and degradation rate, realizing independent research, production, and sales. The company's patented CaHA material is trusted and loved by experts and beauty seekers worldwide for its safety, complete degradability, and natural results.

【Investor】Huagai Capital, BlueRun Ventures