This week, the medical market completed several representative financing events. Hanhe Biotech received tens of millions of yuan in strategic investment from Guoke Venture Capital and Xingxiang Capital, advancing a 50,000-ton non-grain biomass new materials project; Guochong Blood Technology completed three rounds of financing totaling tens of millions of yuan, and Helkang released China’s first diabetes disease large model based on clinical data from 3,000 hospitals; Drug Ranch completed the first round of $55 million Series D settlement; Ant Group has strategically invested in Mint Health, holding over 28%, accelerating the industry’s innovation and commercialization process across the board.

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1. Hanhe Biotech secures investment from Guoke Venture Capital and Xingxiang Capital, breaking through as “Made in China”

Recently, Shanghai Hanhe Biotech, a leading domestic enterprise in high-value utilization of non-grain biomass, officially disclosed the completion of strategic financing worth tens of millions of yuan. This round was led by the national-level hard-core technology investment platform Guoke Venture Capital, with participation from a special new materials fund under Xingxiang Capital, a leading state-owned capital operation company in Hunan Province. The funds raised will be fully used for the construction of the 50,000-ton annual non-grain biomass new materials industrialization project in Anxiang, Hunan. This is also the first time since its establishment that Hanhe Bio has received joint support from national industrial capital and core local state-owned assets. It is understood that Hanhe Bio was founded by the biotransformation technology team led by Dr. Sang Tao. It is one of the few domestic companies that has fully integrated the entire technical path from non-grain biomass pretreatment, targeted catalytic conversion, to end-product implementation, overcoming long-standing bottlenecks in the industry such as low enzymatic hydrolysis efficiency and high conversion costs. The newly launched Anxiang project relies on the abundant reed resources of the Dongting Lake area as its core raw materials. The two core products—bioresin and graded porous carbon—have outstanding performance advantages over traditional petroleum-based counterparts, covering high-value scenarios such as biopharmaceutical separation and purification, energy storage electrodes, industrial water treatment, and environmentally friendly home decoration, completely avoiding the industry’s pain points of “competing for land with grain.”

Currently, the national “15th Five-Year” bioeconomy development plan has listed non-grain bio-based materials as a core focus for key efforts. Guoke Venture Capital and Xingxiang Capital will leverage their own industrial resources to empower the project, promote Hanhe Bio’s accelerated mass production of tens of thousands of tons, and establish a benchmark for “Made in China” green biomanufacturing.

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2. The second and third rounds of cumulative financing totaled tens of millions of yuan, and the pet blood transfusion medical system began construction of a regional center

Guochong Blood Technology, a leading company in the Qiu Quanmao blood transfusion medical sector, officially disclosed that it has completed two rounds of angel+ and Pre-A rounds of financing, plus the first angel round, bringing the total financing amount to tens of millions of yuan, with all funds now fully received. According to disclosures, this Angel+ round was directly invested by a vertical industry fund under a leading domestic medical device group, while the Pre-A round was exclusively invested by Shandong Qizhou Ronghui Asset Operation Co., Ltd. All funds raised will be used to establish a 30-mu regional companion animal blood center: the production base is located in Qihe, Dezhou, Shandong. Once completed, it will achieve an annual capacity of 600,000 units of whole blood and standardized component blood preparations, covering the clinical blood needs of over 2,000 compliant pet medical institutions in North China. Completely resolve the industry’s previous pain points of non-standardized mutual aid supply in clinical pet blood dependence within the region.

As an innovative animal health biopharmaceutical company registered in February 2025, the core team of Guochong Blood spans two major areas: human medical blood products and clinical diagnosis and treatment for pets. Its world-first VTMS full-chain transfusion management system fills the domestic standardized process of clinical pet blood from traceability, collection, separation, quality control to clinical transfusion. The related technology has won a national biopharmaceutical innovation competition award. On July 9, 2026, four core group standards for dog and cat blood transfusion, led by enterprises, and two supporting industry standards co-drafted by the company will all pass industry review and be officially approved, addressing compliance shortcomings in the domestic sector from a top-level regulatory level. The investors stated that this arrangement will promote the completion of the core blood supply links in the regional pet healthcare industry chain, accelerating the alignment of domestic companion animal diagnosis and treatment levels with the international first-tier tier.

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3. Ebot completed tens of millions in Series A financing, accelerating the globalization of pioneering devices

Recently, the core innovation entity of domestic high-end life science instruments, Ebbot Life Science (Shanghai) Co., Ltd., officially announced the completion of tens of millions of yuan in Series A financing. This round was exclusively invested by Ruili Synthetic Biology Industry Fund, and all funds raised will be used for iterative upgrades of core technology platforms, compliant overseas market layout and commercial expansion, as well as systematic development of full-chain R&D, mass production, and after-sales service capabilities. As a global leader in the protein immunoblotting (WB) sector, since its establishment in 2017, Ebot has focused on technological innovation throughout the WB process. Its pioneering contact imaging technology and integrated high-efficiency wet transfer system have addressed long-standing industry pain points in traditional WB processes, such as uneven transfer efficiency, low imaging signal-to-noise ratio, and poor strip quantification repeatability. Its core technical parameters comprehensively surpass similar imported products. Currently, the company’s two core complementary product lines have achieved coverage in major global research markets, entering core R&D scenarios supporting research outputs including top global universities, domestic core research institutes, and many leading multinational pharmaceutical companies. Related application achievements have been published in over 700 international core academic journals, winning more than ten domestic and international life sciences innovation product awards, and gaining widespread recognition from leading global research users. A partner at Ruili Synthetic Bio Fund, the investor in this round, stated that protein analysis equipment is the core “bottleneck” track upstream in life sciences. Ebot is one of the few native domestic companies to achieve reverse technological leadership. Going forward, it will help accelerate new product iteration and globalization, promoting domestic high-end scientific research instruments to the top tier in the global protein analysis equipment field.

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4. Data from 3,000 hospitals has been “fed” into AI large models for diabetes-specific diseases, focusing on integrated integration inside and outside hospitals

Recently, Helkang, a domestic technology medical company deeply engaged in full-cycle diabetes management, officially released the country’s first vertical large model for diabetes-specific diseases, HesiMed AI, trained on native, real-world hospital data. This marks the completion of the core closed loop of its full-stack system of “chronic disease software platform + hardware reagent pipeline + AI algorithm engine,” and its related implementation has attracted significant attention from investors in the primary market medical sector. Unlike most general large models on the market that rely on public literature and scattered online consultation data, HesiMed AI’s training dataset is entirely derived from desensitized clinical data accumulated from over 3,000 hospital diabetes management systems integrated with Herkang, covering the entire process from initial outpatient visits, inpatient intensive glucose adjustment, and long-term outpatient follow-up, with clinical conformity exceeding 94% for hypoglycemic protocol adaptation and early screening of complications such as glucose restriction and glucose footing. This model adopts an embedded implementation logic, allowing institutions to connect with existing HIS and chronic disease management systems, assisting medical staff in automatically generating personalized follow-up plans and stratifying high-risk groups, helping hospitals improve chronic disease management efficiency by more than 35%; On the patient side, traditional blood glucose meters and dynamic blood glucose monitoring devices have evolved from “passive data recording” to proactively pushing refined intervention guidance. Currently, Helkang has successfully implemented the forward flywheel of “AI empowerment scenarios – scenario return compliance data – iterative optimization AI.” Based on this, the proposed AGS adaptive blood glucose management architecture has entered the pre-research stage, with the core goal aimed at the implementation of civil-grade artificial pancreas. The company has previously completed three rounds of financing led by leading medical funds. Its hospitals now cover 27 provinces nationwide. With unique data barriers and engineering capabilities, it is one of the few domestic tech innovation players to achieve full integration of in-hospital and out-of-hospital diabetes management, with clear potential for future commercial growth.

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5. Pharmaceutical Ranch completed the first round of $55 million Series D financing, advancing its R&D pipeline

On July 13, Drug Farm, a biotech company developing first-in-class original drugs based on its proprietary AI-driven phenotyping screening platform, officially announced the completion of its first Series D financing round totaling $55 million. This round was jointly led by Shanghai Pudong Leading District Investment Center and Shanghai Puxing Collaborative Private Equity Partnership, with multiple leading medical investment institutions and biopharmaceutical industry players participating. Haoyue Capital served as the exclusive financial advisor for this transaction. All funds raised this time will be directed toward clinical development and implementation of core pipelines: focusing on supporting the core candidate drug DF-003 in completing key registration clinical trials and subsequent clinical proof-of-concept for NASH combined with liver fibrosis indications, advancing the ramp-up of global multi-center Phase I clinical trials for next-generation autoimmune targeting small molecule DF-006, simultaneously expanding the capacity of its own screening platform, strengthening the registration regulatory team for both Chinese and US submissions, and accelerating the subsequent two oncology products, IND submission progress for preclinical candidate drugs in the rare disease field. Dr. Xu Tian, founder of Drug Ranch, stated that this round of financing marks a core milestone for the company’s original innovation capabilities gaining industry recognition. Currently, the company has multiple candidate drugs entering clinical stages, making it one of the few innovative Biotech companies in China to achieve full independent control from target discovery to clinical translation. Wu Xiaokun, partner at Haoyue Capital, pointed out that this round of transactions also reflects the primary market’s long-term preference for innovative drug assets with differentiated global new attributes, and will continue to empower project implementation to provide more locally sourced innovative therapies for unmet clinical needs.

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6. Tridies completes a new round of strategic financing, fully launching its new oral peptide strategy

On July 13, Sandieji, a leading domestic 3D printing pharmaceutical company, officially announced the completion of a new round of strategic financing. This round of investors includes Minjin Investment and Lingang Digital Technology, two major Shanghai state-owned asset management platforms. Hangzhou Industrial Investment Group also participated in this round and signed a long-term synergy agreement. Subsequently, it will leverage clinical resources and medical insurance implementation channels in the Yangtze River Delta region to empower the company’s entire chain.

The funds raised this time will be directed to three core sectors:

First, it has established the Shanghai International Oral Peptide R&D and Production Center, building a large-scale 3D-printed intelligent drug manufacturing production line that complies with both Chinese and US GMP standards;

Second, accelerate the global clinical advancement of the core oral peptide pipeline, speeding up enrollment and key data readout for clinical trials in China and the US;

Third, expand multinational industrial cooperation, promote overseas rights licensing and commercialization of independent technologies.

Previously, Sandieji registered a wholly-owned subsidiary in Shanghai, serving as the exclusive operator of its new strategic segment, focusing 100% on pipeline incubation and implementation in the oral peptide sector. Relying on its independently developed 3DΜS-OM core delivery platform, the company has overcome two major industry bottlenecks: peptide molecule gastrointestinal degradation and low epithelial membrane transmembrane efficiency. Its core candidate product T25 has simultaneously received IND approval from China’s NMPA and the US FDA, placing it among the world’s top tier. Industry insiders point out that the completion of this round of financing marks Tridie’s official transformation from a technology-platform company to a full-chain innovative pharmaceutical company. Once its Shanghai industrialization base is completed, it will fill the domestic gap in mass production capacity for high-end oral peptides, providing a brand-new non-injectable treatment option for chronic disease patients.

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7. Bayao Technology secures tens of millions in strategic investment, accelerating the implementation of the AI virtual cell industry

Beiyao Technology, the country’s first native AI virtual cell (AIVC) platform company, recently officially disclosed the completion of a strategic financing of tens of millions of yuan. This round took only 7 working days from reaching the investment framework to full funding, setting the fastest record for strategic financing in the domestic AI drug R&D sector, demonstrating the industry’s high recognition of this cutting-edge foundational technology track for AI virtual cells. Currently, traditional drug R&D generally faces pain points such as high wet experimental costs, long cycles, and insufficient prediction accuracy. AI virtual cells are recognized by the industry as the next-generation core technology path to break through the bottlenecks of “poor generalization and strong black-box nature” in AI drug development. According to disclosures, the funds raised in this round will mainly be used in three core areas: first, building an autonomous native multi-group student pathology dataset system, covering the three core tracks of tumors, autoimmune, and metabolic diseases, collecting dynamic sequencing representation data of primary cells; Second, the iterative development of the next-generation multimodal AIVC core model further improves the simulation accuracy of the entire molecular interaction and signal transduction process; Third, a pre-commercial technology validation platform for innovative pharmaceutical companies and CRO partners is being launched, accelerating pilot projects in core scenarios. As one of the few domestic AI drug customization service providers mastering the closed-loop technology of “high-throughput cell characterization in wet experiments—dynamic deduction of dry models,” Bayao Technology’s core technology can reduce the discovery cycle for preclinical candidate compounds by more than 60%. This round of industry investors will then open up the entire biopharmaceutical ecosystem resource chain, jointly promote the large-scale implementation of AIVC technology, and accelerate the localization and substitution of underlying AI drug R&D technologies in China.

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8. Ziwu Laser secures tens of millions in angel round financing, promoting domestic substitution of high-end medical erbium laser equipment

In 2026, Shenzhen Ziwu Laser Technology Co., Ltd., a core player in the domestic high-end medical optoelectronic equipment sector, will officially complete a ten-million-yuan angel round financing. This round was jointly invested by Nanshan District Strategic Emerging Industry Investment Fund (Nanshan Zhan New Investment) and Qianhai Great Wall Fund, with MicroNano Capital serving as exclusive financial advisor. The funds raised will be specifically used for the registration application of the core product Class III medical device, the construction of a Class 10,000 cleanroom production workshop, and downstream clinical scenario validation investments. Currently, the domestic 2940nm medical erbium laser core equipment market has long been monopolized by leading overseas brands. According to medical device industry research, imported products account for over 92% of the market share, with the single terminal purchase price consistently between 800,000 and 1.2 million yuan. Core resonators and dynamic energy control modules rely entirely on overseas supply chains, making them a bottleneck track in high-end medical aesthetics and dermatology treatment equipment fields that have yet to be fully overcome. Meridian Laser anchors its differentiated approach of “performance benchmarking imports and significantly lowering costs.” It has now achieved full-stack independent intellectual property rights for core technologies, 100% localization of the entire supply chain, and its flagship product matches top international brands in core clinical parameters such as spot uniformity and energy output stability, with terminal pricing 45% lower than imported models. The company simultaneously operates a dual business model of direct sales under its own brand and ODM of core modules, covering two types of clients: public medical institutions, compliant medical aesthetics institutions, and downstream equipment manufacturers. Investors estimate that the current annual domestic substitution space in the erbium laser sector exceeds 3 billion yuan, and the efficiency of meridian laser technology implementation far exceeds the industry average. It is expected to be the first to obtain certification to fill the market gap and grow into a representative enterprise in the domestic high-end optoelectronic medical aesthetics field.

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9. Chaoqun Testing D+ round equity changes finalized, accelerating the localization process of CT tubes

Recently, Shanghai Chaoqun Testing Technology Co., Ltd., a leading domestic company in self-developed core medical imaging components, officially completed its D+ round equity adjustment and delivery, marking a landmark event in the high-end medical equipment sector’s equity diversified governance upgrade. This round of transactions centers on the transfer of existing shares. Leading institutions deeply involved in hard technology, such as original shareholders Shenzhen Capital and Junling Investment, have chosen to increase their investments, fully demonstrating the existing investors’ long-term confidence in the company’s core technology implementation capabilities; The new investor lineup forms differentiated complementarity: it introduces industrial strategic shareholders qualified for mass production of large imaging equipment units, connecting scenario validation and mass production collaboration chains from core components to terminal devices, and also absorbs national-level long-term guidance funds such as the National Social Security Fund and market-oriented long-term capital focused on medical hard technology such as Zhongqi Capital. The company has officially established a diversified shareholder structure covering industrial resources, national-level strategic capital, and market-oriented financial investments. As a core bottleneck component accounting for over 40% of the CT equipment value, CT tubes have long been monopolized by overseas manufacturers, with import dependence once exceeding 90%. Chaoqun Testing has previously completed four rounds of financing, focusing on core pipelines for high-end diagnostic equipment. Core competitors in the same sector include Titanium Technology and other hard technology companies specializing in self-developed CT tubes. This equity upgrade also marks the official departure of short-term profit-driven capital supply in the domestic high-end manufacturing sector, fully entering the “era of deep industry cultivation” characterized by industry binding and long-term accompaniment, serving as an important demonstration for accelerating domestic substitution of core medical components.

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10. Ant Group Strategic Investment in Mint Health, Joining Hands to Deepen AI Health Services

On July 8, the domestic digital proactive health management sector saw a landmark strategic handover: Ant Group officially completed its strategic investment in leading vertical health service provider Mint Health. After the transaction, Ant Group became the largest external institutional shareholder of Mint Health, with a shareholding exceeding 28%. The founding team and founder Ma Haihua remained the largest shareholder, retaining absolute control over daily operations. This transaction marks the core move of a leading internet platform targeting the inclusive health sector: Previously, Ant Group’s health business had long focused on rigid medical scenarios such as online diagnosis and medical insurance services. Its core C-end entry product, “Ant Afu,” is currently the largest national-level AI health application in China by user base, with cumulative registered users exceeding 100 million. It possesses mature multimodal large model computing support, full-domain traffic reach, and payment ecosystem infrastructure. Mint Health, on the other hand, has been deeply involved in weight management and dietary nutrition intervention for over a decade, accumulating a nutrition database covering tens of millions of ingredients and a long-validated user behavior intervention model. The resources of both parties are highly complementary, and it took less than six months to reach an investment consensus from initial matchmaking. Currently, the first AI weight management feature jointly developed by both parties has officially launched on the Ant Afu App. Going forward, it will gradually integrate a full-chain service system including dietary records, dynamic interventions, and chronic disease nutrition adaptation, marking a new stage of deep collaboration between platforms and vertical service providers in the domestic “AI + inclusive health management” track, providing low-threshold, customized health guidance to tens of millions of ordinary users.

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11. Saihe Medical completed financing of several hundred million yuan, accelerating the global layout of pan-vascular intelligent diagnosis and treatment

Recently, Saihe Medical, a leading innovative company in the domestic pan-vascular active intervention sector, officially announced the completion of a B+ round financing worth several hundred million yuan. This round was jointly led by Yahui Investment and Sidao Capital, with continued participation from industry institutions such as Furong Investment. The funds raised in this financing will focus on three core areas: advancing clinical registration for frontier pipelines, building local production capacity and supply chains for high-end active interventional devices, and expanding domestic and overseas commercialization channels. Against the backdrop of accelerating import substitution in domestic pan-vascular interventions, active diagnostic and therapeutic devices targeting clinical pain points such as severe coronary artery calcification and complex peripheral vascular lesions have long been monopolized by overseas manufacturers, with terminal prices remaining high and severely insufficient accessibility to primary clinical care. Founded in 2020, Saihe Medical leveraged its original shockwave and ultrasound foundational technologies as its anchor to build an industry-unique dual technology platform of “treatment + imaging,” establishing a full-chain integrated diagnostic and treatment product system. After completing its previous round of financing in 2023, it has successfully achieved a key leap from technology validation to commercial scaling, with multiple core products successively receiving NMPA Class III certification, directly breaking the overseas technology monopoly. Currently, its core products have entered hundreds of tertiary hospitals across China, covering multiple indications such as coronary, peripheral, and rehabilitation, with overseas channels covering more than 25 countries and regions. The founder of Saihe Medical stated that this round of financing is an important milestone in the company’s development, supporting its rapid global scale implementation and growth into a global player in the field of pan-vascular intelligent diagnosis and treatment.

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12. Derui Zhiyi Pharma completed a $52 million Series B financing round to build an AI drug R&D engine

AI-driven clinical-stage innovative drug company MindRank recently officially announced the completion of a phased Series B closing totaling $52 million. This round includes leading sovereign funds, national-level pharmaceutical industry funds, and strategic industrial capital from multiple multinational pharmaceutical companies, with Kaicheng Capital continuing to serve as exclusive financial advisor. This round of financing was completed during the valuation correction cycle of the global AI pharmaceutical sector, fully demonstrating the certainty of professional industry capital’s recognition of its technology implementation capability and clinical pipeline value. According to disclosures, the funds raised in this round will focus on three core directions:

First, the technological iteration of the self-developed full-process AI pharmaceutical engine MAP (Molecular AI Pharmaceutical), tackling core modules for precise molecular dynamics prediction and multi-omics virtual target validation, supporting the strategic goal of implementing a multi-agent-driven AI R&D platform covering all key stages from drug discovery to clinical design by 2026;

Second, enrollment, NDA submission, and commercialization system setup for the core first-in-pipeline oral GLP-1RA small molecule MDR-001;

Third, expand the innovative FIC/BIC pipeline layout in oncology and autoimmune fields, and broaden the global patent asset pool.

As China’s first AI-powered Class I innovative drug to advance to Phase III clinical trials, MDR-001 has demonstrated through front-sequence clinical data that the MAP engine achieves a threefold increase in R&D efficiency and a 60% cost reduction compared to traditional approaches. Company founder Niu Zhangming revealed that more than 10 pipelines are currently being developed in parallel. Going forward, they will build an AI Native Pharma full-chain system, leveraging technological compounding to break the traditional industry bottleneck of high investment and long cycles in new drug R&D.

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