April 2026 Biopharmaceutical Industry Investment & Financing Analysis and Top 30 Projects

Enterprise List: 92Project Investment Obtained

Top 30 Biomedical Industry Financing Events in April

Source: Huoshi Creation Industry Data Center, Industrial Data Search on Huoshi Creation Industry Data Express

According to the #Huo Shi Creation Industry Data Center, this month there were 92 financing events in China's biopharmaceuticals field (excluding proposed acquisitions, acquisitions, private placements, and public listings), with a total amount exceeding 2.526 billion yuan (excluding undisclosed amounts). Compared with last month’s financing situation, the number of funded projects decreased by 8%, and the financing amount dropped by 39.91%.

Figure: Financing Situation in the Past 4 Months

Source: Huoshi Creation Industry Data Center, Industry Data Search on Huoshi Creation Industry Data Access

Among the 92 funded projects, there were 8 cases with single-round financing exceeding 100 million yuan, totaling 2.11 billion yuan in financing, accounting for 83.53% of the total financing scale this month.

Figure: Distribution of Financing Amount in April

Source: Huoshi Creation Industry Data Center, Industrial Data Search on Huoshi Creation Industry Data Express

In terms of financing rounds, most of the financing events this month were concentrated in the angel round, with a total of 17 projects receiving investment. In terms of the amount of financing, strategic financing received the highest amount of 875 million yuan, accounting for 34.66% of the total financing amount; followed by the D round, which also received a relatively high amount of 719 million yuan, accounting for 28.46% of the total financing amount.

Figure: Number and Amount of Financing Rounds in April

Source: Huoshi Creation Industry Data Center, Check industry data on Huoshi Creation Industry Data Access

Institutional Ranking: Leading Venture CapitalMost Active

Active Investment Institutions This Month

Source: Huoshi Creation Industry Data Center, Industry Data Search on Huoshi Creation Industry Data Express

Regional Rankings: Guangdong Tops in Revenue

This month's financing projects are mainly distributed in Jiangsu Province (29 projects) and Shanghai (19 projects). In terms of the amount of financing, Guangdong Province stands out the most, with a total financing amount as high as 1.016 billion yuan, accounting for 40.24% of the total financing; followed by Shanghai, which is also quite prominent, with a financing amount reaching 615 million yuan, accounting for 24.34% of the total financing.

Figure: Financing volume and amount by region in April Source: Huoshi Creation Industry Data Center, Industrial Data Search on Huoshi Creation Industry Data Express

The Most Noteworthy Financing Project

CoreMedicalCompleted Over $100 Million in Series D Financing

Artificial Heart Company "Core Medical" Completes Over $100 Million in Series D Financing. This round of financing was jointly led by Loyal Valley Capital, the Social Security Fund Zhongguancun Independent Innovation Special Fund (managed by Legend Capital), Aramco Ventures' Prosperity7 Ventures (P7), Cornerstone Capital, and a well-known industrial investor. Delian Capital and New Alliance Capital participated as follow-on investors. The funds raised will be used for innovative product development and to promote the company’s international strategic layout. This Series D financing round completed by the company also marks the largest single financing deal in China's innovative medical device sector since 2025. Core Medical, established in 2016, focuses on the research and development of high-end innovative medical devices such as artificial hearts and mechanical circulatory support devices. Its product pipeline covers two major areas: implantable (LVAD, implantable left ventricular assist device; BiVAD, implantable biventricular assist device) and interventional (pVAD, percutaneous ventricular assist device).

Core Medical Receives 300 Million Yuan in Capital Increase

Songhe Fund, Dawning Fund, Chuangjing Kangrun, Chuangjing Shunze, Lishui Qiaoda, and other institutions jointly invested in Shunjing Pharma, a subsidiary of Hotgen Biotech, via cash. The investment price was 25 yuan per registered capital, with a total investment amount of 300 million yuan. After the completion of this investment, the registered capital of Shunjing Pharma will increase from the original 60 million yuan to 72 million yuan, and Hotgen Biotech's equity share in Shunjing Pharma will decrease from 45.8333% to 45.5833%. Shunjing Pharma is an innovation-driven biopharmaceutical technology company incubated by Hotgen Biotech, dedicated to the discovery, development, and commercialization of original (First in class, FIC) antibody drugs. With excellent scientific research and innovative drug development capabilities empowered by AI technology, it has built an internationally leading portfolio of innovative antibody drugs for chronic diseases, covering treatments for cardiovascular, oncology, neurodegenerative, and other diseases.

Zean Biopharmaceutical Completes $40 Million Series A+ Financing

Zeanon Biopharma Announces Oversubscribed Series A+ Financing, Successfully Raising $40 Million. This round of financing was led by New investor Wanshi Capital. Other participants included 5Y Capital, BlueRun Ventures, Unicorn Capital, and the Follicular Lymphoma Innovation Research Institute. Existing shareholders Longpan Investment and Hillhouse Ventures continued to increase their investment. Chenglin Capital served as the exclusive financial advisor for this financing. The newly raised funds will primarily be used to support Zeanon Biopharma's first candidate drug LTZ-301 in Phase 1 clinical trials, advance the IND application preparation for the second candidate drug LTZ-232 targeting pan-solid tumor indications, and facilitate the research and development of other early-stage projects and the expansion of the global team. Zeanon Biopharma is a globally integrated biotechnology company focusing on novel immunotherapies. To address significant unmet clinical needs in the fields of cancer and autoimmune diseases, the company has independently developed the "Myeloid Engager Platform" technology and related original new drugs, aiming to enhance comprehensive clinical benefits for a broad patient population. The company’s international team is distributed across Shenzhen, China; Redwood City, California, USA; and Heidelberg, Germany. Based on reverse translational science and emerging tumor microenvironment biology, LTZ is committed to developing next-generation immunotherapies that can both overcome drug resistance and enhance anti-tumor immunity.

Yunshida Completes $35 Million Strategic Financing

Recently, Incinta Medical Group (hereinafter referred to as "Incinta") announced the completion of a US$35 million strategic financing round. This significant milestone not only injects strong momentum into the group’s future development but also marks a new phase in Incinta's strategic layout in the global assisted reproductive healthcare sector. The proceeds from this financing will primarily be used for new technology research and development, intelligent upgrades, further refinement of service systems, and the expansion of a global assisted reproductive service network. Established in 2012, Incinta Medical Group is a healthcare industry group specializing in genetics and assisted reproduction. Adhering to the core concept of "customer-centricity," the group follows three key strategies: academic leadership, global presence, and specialized focus. It actively integrates high-quality medical resources both domestically and internationally, aiming to build a multi-layered specialized medical service system. After more than a decade of self-development, acquisitions, and meticulous group operations, Incinta has established a robust assisted reproductive network across multiple key cities in China and international metropolises. The group operates several expert studios, reproductive clinics, and licensed tertiary hospitals, providing patients with comprehensive medical services. Its service scope covers various fields including genetic testing, assisted reproduction, and genetic counseling.

Core Medical Completes Over 100 Million Yuan in Series A Financing

Shanghai Core Medical Completes Over 100 Million Yuan in New Round of Financing. This round of financing was jointly led by Longpan Investment and Daotong Investment, with participation from YL Health Fund and Tianrui Fengnian, while existing shareholder Lilly Asia Ventures continued its support. Dingshi Capital served as the exclusive financial advisor. The funds will primarily be used for the research and development and registration clinical trials of multiple core products under development by the company. Established in 2020, Core Medical focuses on the development of innovative Class III active implantable products, committed to providing cost-effective "closed-loop" heart failure management solutions for heart failure patients worldwide. It aims to create a true acute and chronic heart failure closed-loop management ecosystem that integrates "treatment + assessment + chronic disease management," while building multiple globally leading and highly synergistic technology platforms. Through thorough research and validation, the company strives to deliver its products and services to heart failure patients in China and around the world.

       Title: April Biomedical Industry Investment and Financing Analysis and Top 30 Projects