– Introduction –

This issue compiles five cutting-edge innovative projects in the medical and health field, covering ophthalmic nanoemulsion delivery platforms, visual lung isolation dual-branch systems, heart failure AAV gene therapy, AI ophthalmic and optical screening integrated diagnostic and treatment platforms, and intelligent airway management consumables. Each project has established clear technical barriers and industrialization achievements, and is open to industrial cooperation, investment, and BD matchmaking. Below are the details of this issue’s high-quality medical innovation assets:

1. Ophthalmic Innovative Drug: Nano Emulsion Delivery and Formulation Development

Platform Project focuses on issues such as low bioavailability of traditional ophthalmic preparations, short ocular surface residence time, insufficient stability of poorly soluble or easily hydrolyzable drugs, and poor adherence to frequent dosing administrationEstablish a platform for ophthalmic nano emulsion delivery and complex formulation development.
Nano emulsions can increase the diffusion rate and coverage area of drugs on the ocular surface, extend residence and sustained-release times, increase the solubility of poorly soluble drugs and improve the stability of easily hydrolyzed components, while also offering potential to enhance ocular absorption, reduce administration frequency, and repair the tear film lipid layer. The platform has established standardized and personalized processes for various nano emulsion systems, solving supply issues for various new excipients, and possesses complete capabilities from prescription screening, pilot testing, pilot testing to production transformation. Currently, the 600-square-meter laboratory is equipped with more than 50 devices including ICP-MS, HPLC, particle size analyzers, and high-pressure microjets, and has jointly established single-dose ophthalmic emulsion production lines with listed companies.
The pipeline covers dry eye, juvenile myopia, spring keratoconjunctivitis, severe adult keratitis, and preoperative ophthalmic disinfection. The artificial tears of the nano emulsion have completed reference reverse analysis, pilot trials, and preliminary druggability studies. The emulsions are uniform and unstratified, with stability data up to 36 months and an effective duration exceeding 8 hours. They are planned to advance along the pathways of Class 2.2 improved new drugs, in-hospital preparations, or medical devices; Low-concentration atropine sulfate emulsion has completed pilot trials and preliminary stability studies, balancing stability and comfort under near-tear pH conditions, and is intended for myopia prevention and control in adolescents; The two pipelines of cyclosporine eye drops have completed pilot trials and are preparing for pilot testing, targeting severe spring keratoconjunctivitis and severe keratoconjunctivitis in adults aged 4-18, respectively; Povidone-iodine eye drops have completed comparative analysis and pilot processes, focusing on ophthalmic preoperative preparation and irrigation.
The platform has applied for 9 technology patents, 4 of which have been granted, covering key areas such as cationic emulsions, artificial tears, atropine sulfate, stabilization of hydrolyzable drugs, and enhancement of ocular absorption. There are about 220 million dry eye patients and about 100 million myopic adolescents in China; the market value of artificial tear pipelines is expected to exceed 500 million yuan after approval, with low-concentration atropine corresponding to a market size of about 9 billion yuan. Cyclosporine and preoperative disinfectant products feature fewer competitive varieties and longer patient medication cycles. Commercialization targets ophthalmic pharmaceutical companies, MAH holders, ophthalmology hospitals, and optometry channels, forming phased cash flow through project licensing, joint development, commissioned R&D, in-hospital formulation transformation, and production technology services.
The team has over 30 years of experience in drug R&D management and complex formulation transformation, with current focus on introducing industry or capital partners to accelerate pilot testing, clinical trials, registration, and channel introduction. The core team currently consists of 15 members, including 3 PhDs and 6 master’s degree holders. Key members are familiar with ophthalmic drug R&D, complex formulation processes, registration applications, and industrial scale-up. The platform can incubate proprietary varieties and provide pharmaceutical companies with customized prescriptions, reference formulation analysis, process scale-up, and MAH collaboration, shortening the conversion cycle for external projects.

2. Medical Device_Visual Lung Isolation Combined Dual-Branch

System Project Focusing on single-lung ventilation and pulmonary isolation surgery in thoracic surgery, developing a visual lung isolation combined dual-branch system that combines the advantages of dual-lumen bronchial catheters and bronchokers. The product adopts a split structure for inner and outer tubes, allowing step-by-step or combined insertion. The inner tube depth is adjustable and supports flexible switching between left and right bronchi; The system integrates full-process visualization, dual-channel ventilation and suction, and real-time airbag pressure monitoring, solving problems such as difficulties in traditional dual-lumen tube selection, low right-side positioning success rate, significant airway injury, as well as easy displacement of occluders, slow lung collapse, and inconvenient suction. Both forward and reverse insertion do not affect surgical operation, and the carinae and both sides can be observed simultaneously, making it suitable for routine thoracic surgery, patients with difficult airways, and pulmonary isolation scenarios in primary hospitals.
Multicenter clinical data have verified the product’s operational and safety advantages: the direct blind insertion success rate reached 86.6%, higher than the 63.3% of traditional dual-lumen catheters; The incidence of airway-related adverse events dropped from 26.7% to 6.7%, a decrease of about 74.9%; The average intubation time was reduced from 117.7 seconds to 82.5 seconds, with about a 50% reduction in operational difficulty. The project has developed both wired and wireless routes. The current product integrates cameras at the front end of the intubation and covers 28-41Fr specifications. The wireless version under development plans to add WiFi connectivity, carbon dioxide monitoring, and microbiome sampling functions, as well as upgrade TPU and medical silicone materials. The company holds 27 proprietary patents, 3 cooperative patents, 6 pending applications, has obtained 18 Class II medical device registration certificates, with 5 more pending, quality system certified by ISO13485, and is advancing the EU MDR.

Domestically, there are about 1.05 million lung surgeries performed annually, of which approximately 95% require single-lung ventilation. The bronchial catheter market size is approximately 3 to 3.3 billion yuan, with a visible product penetration rate of less than 10%, and growth exceeding 50% in the past two years. The product has entered 6 top-tier hospitals, 67 hospitals have completed trial use, and are now listed in the medical insurance network in more than 30 provinces; By the end of 2025, 6,779 units had been sold, with payments totaling 2.25 million yuan. By May 2026, 10,000 units had been delivered, and multiple overseas market cooperation intentions and $17,000 sample order payments were received. The existing production base has a daily capacity of 5,000 units and is promoted through the Sinopharm Device platform and professional agency channels. The company plans to raise 20 million yuan to cover R&D patents, market channels, and clinical compliance, aiming to cover 200 core hospitals by 2028, achieve cumulative revenue exceeding 80 million yuan, and achieve an expected gross margin of 60%-65%. The project team consists of anesthesia experts from leading thoracic hospitals, production management personnel from international device companies, and professional operations teams, forming a collaborative structure of patent ownership, clinical education, production compliance, and market promotion. Subsequently, it will rapidly scale up with wired products, enhance product prices and international competitiveness with wireless monitoring and AI positioning versions, and expand overseas revenue through export registration.

3. The Medical AI_ Prostate Cancer Screening, Diagnosis, Treatment and Rehabilitation Integrated Platform

Project Taking prostate cancer as an entry point, it addresses issues such as insufficient screening coverage, high false positives for PSA single-indicators, weak primary puncture capacity, and postoperative follow-up faults, building a “regional screening + risk stratification + precision puncture + treatment referral +.” A specialized disease full-process management platform for rehabilitation follow-up. The system already features screening and archiving, intelligent consultation, risk prediction, two-way referral, follow-up management, data aggregation, and quality control reporting functions; The core product under development is a prostate precision puncture image processing system that does not rely on MRI. It uses ultrasound, shear wave/elastography, PSAD, and clinical indicators for 3D reconstruction, lesion identification, and virtual targeted pathway planning. It is planned to be registered as a Class II medical device, making it more suitable for county hospitals and primary care scenarios with limited MRI resources.

The platform has established a foundation for real-world verification, with over 45,000 screenings conducted in total. Among the 30,000 screening sessions completed with top top-tier hospitals and community systems, the PSA anomaly rate was about 12%, the puncture-positive rate after risk model screening was about 62%, and the surgery rate for confirmed patients was about 70%. The project has upgraded from single-session screening services to the construction of district-level standardized puncture centers, providing specialized disease databases, scientific research data management, and MDT collaboration to tertiary hospitals; equipment configuration, collection standards, puncture assistance, remote review, and training quality control to district and county hospitals; and providing screening mobilization, risk stratification, referral follow-up, and operational cockpits for community and government projects. The existing product matrix also includes hematologic analysis software for Class II syndromes, as well as TCM food homology products and VR sports rehabilitation systems for post-diagnosis management.

The business model consists of regional project cash flow, high gross margin of registered software, and collaborative income from the industry chain. Revenue sources include government and hospital technical services, platform deployment, equipment and consumables, case-based diagnosis and treatment planning, scientific research data services, and patient rehabilitation management. Despite an initial R&D investment of less than 1 million yuan, the company has achieved approximately 5.32 million yuan in revenue through 8 contracts, holds 8 invention patents, and multiple software achievements. Estimated revenues for 2026-2029 are 6 million to 8 million yuan, 12 million to 18 million yuan, 30 million to 40 million yuan, and above 50 million yuan respectively. Our clients include the National Health Commission, top-tier and district/county hospitals, community health centers, physical examination institutions, pharmaceutical and medical device companies, and research institutions.
This round plans to raise 10 million yuan for regional replication, vertical large model and multimodal algorithm R&D, Class II medical device registration, clinical data governance, and operations team building. The team is composed of commercial operations, medical imaging AI, urology clinical resources, and integrated Chinese and Western medicine, and has established capabilities in hospital delivery, algorithm development, registration and transformation, and government project operations. It is expected that key district-level benchmark projects will be completed by 2026, replicated in more districts and counties in 2027, and certified for precision puncture software and launched large-scale in-hospital procurement in 2028.

4. Ophthalmic Equipment _AI Ophthalmic Screen, Integrated

Diagnosis and Treatment
Platform Project focuses on myopia prevention and control, strabismus and amblyopia, visual dysfunction, and corneal contouring management, building “hardware equipment + AI software + clinical data + continuous services” A digital ophthalmology platform forms an integrated closed loop for screening, diagnosis, treatment, training, monitoring, and follow-up. Its current products cover areas such as visual function testing, comprehensive refraction, comprehensive treatment of amblyopia and myopia, vision enhancement, corneal topography, AI corneal reshaping and fitting, ophthalmic large models, and V-test software, forming four major series: strabismus and amblyopia diagnosis and treatment, myopia prevention and control, visual function diagnosis and treatment, and corneal management. The platform has obtained five Class II medical device registration certificates, holds more than 30 core invention patents and more than 20 software copyrights, and has collaborated with leading domestic ophthalmology hospitals on personalized vision training, amblyopia treatment, and intermittent exotropia clinical cooperation.

On the technology side, multimodal eye data modeling and AI prediction are at the core. The corneal management system integrates parameters such as Sag, K value, and HVID to predict fitting difficulty, shaping trends, wearing parameters, and outcomes, continuously transmitting examination data back to doctors and home users; Visual functional products improve the standardization of traditional training and patient compliance through quantitative examinations, personalized training, and follow-up assessments. The platform does not simply sell equipment; it connects B2B and C-end through hospital professional versions, institutional training versions, and home consumption versions, forming compound revenue from diagnostic device traffic, AI diagnostic and training service fees, data platform management, and home value-added services. This model reduces dependence on revenue from homogeneous consumables and also lessens the direct impact of centralized procurement on the business pricing system.

The project has completed product market validation: in the first year, it obtained four Class II registration certificates and achieved revenue exceeding 10 million yuan, with cumulative installations exceeding 120 units; As of June 2026, it has served approximately 279,000 users, connected 5,370 certified optometrists, cooperated with 111 channels, and covered 1,881 stores. Its customer base includes top-tier and private ophthalmology hospitals, primary medical institutions, optometry centers, eyewear retail stores, campus screening programs, and home users. By 2026, China’s optometry industry is expected to exceed 200 billion yuan, with medical devices and related services accounting for over 40%, and the industry’s compound annual growth rate of about 16%-20%; China’s myopia population exceeds 700 million, providing a stable demand for ongoing screening, training, and corneal management.

In the next phase, it will continue to expand registered products and AI models, increase coverage of medical institutions nationwide, and drive large-scale growth through platform services, algorithm licensing, and ongoing consumer-end payments. The six existing application modules can be deployed separately in hospital examination and diagnosis, in-hospital treatment training, and continuous home intervention scenarios, and data interconnection is achieved through doctor-end, institutional-side, and patient-side accounts. The platform plans to further expand into dry eye, presbyopia, and neurovisual directions, integrating external registered products and AI teams, continuously optimizing algorithms through clinical data accumulation, and generating new software licensing and service revenue.

5. Anesthesia Devices_Intelligent Artificial Airway and Respiratory Management Platform

Project Targeting the needs of artificial airway management during perioperative anesthesia, intensive care, and emergency resuscitation, a first- to third-generation product matrix covering laryngeal masks, tracheal catheters, and intelligent monitoring has been established. Traditional laryngeal masks commonly face issues such as dead cavity in 80-100ml devices, delayed end-tidal carbon dioxide sampling, risks of secretion accumulation and aspiration, and difficulty balancing comfort and structural stability. The platform’s first-generation product significantly reduces ineffective dead cavities by reconstructing ventilation and sampling channels, moving monitoring points forward to the pharynx and setting up independent active suction channels, improving gas monitoring timeliness and ventilation efficiency while reducing the risk of reflux aspiration; The product combines the stable ventilation of classic laryngeal masks with the flexible insertion experience of a laryngeal mask, covering pediatrics, endoscopic surgery, neurosurgery, and long-duration complex surgeries. This generation product has obtained one Class II medical device registration certificate and holds six utility model patents, and has now entered the clinical promotion stage.

The second-generation product further extends precise sampling and suction capabilities into the trachea, integrating AI and detection modules to develop active intelligent airway management solutions for scenarios such as side-lying, tummy sleeping, and complex thoracic and cardiac surgery; The third-generation product addresses the long-standing contradictions in catheter specifications in the industry, using small-diameter catheters to maintain ventilation performance while reducing the risks of glottic compression, mucosal injury, and postoperative sore throat, aiming to form a standardized product portfolio for general anesthesia and emergency resuscitation. Intellectual property covers China, Japan, South Korea, the United States, and Europe: second-generation core invention patents have been granted in China, Japan, and South Korea, and the US and Europe have entered substantive examination; The third-generation core patents have passed the PCT international preliminary review, laying the foundation for subsequent CE, FDA, and domestic innovative medical device registrations.

The global artificial airway management market is expected to reach approximately $3.5 billion by 2025 and is expected to exceed $4.5 billion by 2034; The Chinese market is expected to reach 5.46 billion yuan by 2026, a year-on-year increase of 12.3%. Direct customers include anesthesiology departments, operating rooms, ICUs, emergency and specialty surgical centers in top-tier and primary hospitals. The revenue structure consists of single-use consumables procurement, supporting active equipment, and ongoing clinical use. Commercialization adopts a layered path of “domestic volume expansion for first-generation products, international registration for second- and third-generation products, and overseas sales,” using certified products to generate near-term cash flow, and using high-barrier smart products to increase average order value and international licensing space.

This round plans to raise 20 million yuan and propose to transfer 15% equity, including 10 million yuan for R&D, clinical trials, and domestic and international registration; 5 million yuan for academic and international market promotion; and 5 million yuan for sales team, channel distribution, and after-sales system development. The core team covers clinical medicine, biomedical engineering, polymer materials, quality systems, and channel operations, possessing comprehensive capabilities from clinical needs identification, structural design, prototype validation, registration submission to large-scale promotion. Subsequently, it will use anesthesia and respiratory consumables as an entry point, gradually expanding to perioperative monitoring and intelligent airway management devices, forming a long-term revenue structure that synergizes equipment and consumables.

All projects in this phase have entered clinical or IND stages. Investors and industry partners are welcome to discuss cooperation.

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