On August 15, 2022, Jiangsu Baisaifei Biotechnology Co., Ltd. (hereinafter referred to as 'Baisaifei') officially announced the completion of tens of millions of Series B+ financing. This round of financing was led by strategic investor Yuansheng Venture Capital, with additional investment from Leading New Territories .
This round of financing will further promote Bysaifei to build a biomaterial surface modification technology platform that serves healthy life, increase efforts to attract and cultivate high-level R&D talents, and continue to invest in expanding R&D sites, replenishing R&D equipment, creating a high-level product customized R&D platform, inspection and testing center and regulatory science base, and promoting the upstream key of medical devices. The construction of raw material industry clusters will fully empower the localization process of high-end medical devices and fill the gaps in related domestic independent research and development product fields; continue to develop surface modification technology development and product transformation in the field of high-value life science consumables to solve industry pain points; strengthen the company's comprehensive digital system construction, and continuously improve management efficiency and level.
'We are very grateful to Yuansheng Venture Capital and Leading New Territories for their recognition and support of Besaifei,' Professor Chen Hong, founder of Besaifei, said, 'Our team has long-term research accumulation in the field of biomaterial surface modification, and is currently facing the opportunity of explosive demand in this market. Besaifei will use products and services of international standards to help domestic plant media with lubrication, anticoagulation and antibacterial coatings equipment will be launched in batches. I have always believed that solving the problem of industrial bottlenecks must rely on the continuous research and development of leading companies in subdivided fields. Therefore, with this financing, we will increase investment in the R&D facilities of the technology R&D center and the introduction of high-level R&D personnel, with the goal of building an international surface modification technology and R&D platform, promoting the construction of upstream key raw material clusters, and empowering Suzhou's No. 1 industry.'
Gu Leimin, partner of Yuansheng Venture Capital, said: 'Professor Chen Hong and his team have rich exploration and solid accumulation in the field of biomaterial surfaces and interfaces, and enjoy an international reputation. From functional coating molecular design to precise formulas for different material systems, from laboratory equipment to large-scale mass production equipment, from inspection and detection methods to product quality standards, Besaifei's layout is broad and deep. With the continuous upgrading and iteration of medical devices, the demand for medical coatings will become increasingly strong. We believe that Besaifei will grow into a leading enterprise in China in this emerging market.'
Dr. Xie Xin, partner of Leading New Territories , said: 'High-quality functional surface coatings are crucial for implantable interventional medical devices. Bysaifei has been deeply involved in the field of biomaterial surface interfaces for many years, and has established a full-industry technology service platform in hydrophilic lubrication, antibacterial and anticoagulant coatings to break foreign technology monopoly and achieve import substitution. We look forward to Besaifei helping the take-off of China's medical device field in a wider range of fields.'
Innovatively research and develop biomaterial surface modification technology, and develop high-end functional coatings and related products with independent intellectual property rights and international competitiveness. Since its establishment in 2017, the company has created a professional technical service platform for the entire industry chain of medical functional coatings with a complete set of surface coating technology solutions for implantable medical devices with high technical thresholds. It has broken the monopoly of foreign technologies, filled many domestic gaps, and successfully achieved import substitution. According to public figures from the State Intellectual Property Office, Baisaifei has become the company with the most applications and authorized patents in China in the global medical coating industry, and has participated in a number of coated medical device projects. The relevant regulatory research and the establishment of inspection and testing standards have formed a comprehensive technical service and innovative product platform with biomaterial surface modification technology as the core, integrating the research and development and production of coating materials, advanced manufacturing of coating equipment, coating process development and foundry, coating quality analysis instrument development and inspection and testing services, and the development of new coated products. It will create an internationally leading brand of independent and controllable biofunctional coatings and related products, and promote the high-quality development of the health industry. Yingsheng Jiangsu Baisaifei Biotechnology Co., Ltd. is based on the founder's more than 20 years of professional accumulation in the field of biomaterial surface interfaces and domestic and foreign academic influence. It focuses on innovative research and development of biomaterial surface modification technology and the development of high-end functional coatings and related products with independent intellectual property rights and international competitiveness. Since its establishment in 2017, the company has created a professional technical service platform for the entire industry chain of medical functional coatings with a complete set of surface coating technology solutions for implantable medical devices with high technical thresholds. It has broken foreign technology monopoly, filled many domestic gaps, and successfully achieved import substitution. According to public data from the State Intellectual Property Office, Bysaifei has become the company with the most applications and authorized patents in China in the global medical coating industry, and has participated in a number of coated medical device projects. The establishment of relevant regulatory scientific research and inspection and testing standards has formed a comprehensive technical service and innovative product platform with biomaterial surface modification technology as the core, integrating research and development and production of coating materials, advanced manufacturing of coating equipment, coating process development and foundry, coating quality analysis instrument development and inspection and testing services, and research and development of new coated products. It aims to create an internationally leading brand of independent and controllable biofunctional coatings and related products, and promote the high-quality development of the health industry.
Yuansheng Venture Capital is an investment institution focusing on the early and growth-stage medical and health fields. It is based in Suzhou bioBAY and radiates around the world. At present, it has completed investments in more than 140 companies in the life and health field, covering four major directions: new drug creation, medical devices, in vitro diagnostics and medical care, and medical services, and has achieved generous investment returns. 15 of them have been listed on capital markets such as the Hong Kong Stock Exchange and the Science and Technology Innovation Board. Yuansheng Venture Capital has been selected as one of the top 10 venture capital funds in China's medical and health field for many times and is the most active medical and health investment institution in China. Gathering a team of professional investors and global scientific advisors, Yuansheng Venture Capital has rich experience in entrepreneurship, venture capital and corporate operations in biomedicine and other industries. With professionalism, focus and rich industry resources, we are determined to develop into one of the most successful medical and pharmaceutical venture capital funds in China.
Linghang New Territories was established in 2018. It currently manages a number of RMB funds and US dollar funds with a management scale of 2.5 billion yuan. The management team is experienced and many of the companies it has invested in have been successfully listed on A-shares and Nasdaq. The IRR return rate is among the best in the industry. The team of Leading New Territories has an international perspective, is good at enabling investments, insists on long-term value investment, and is deeply involved in key areas such as intelligent technology and biomedicine. At the same time, it spans China and the United States, completes industrial integration with the help of capital, and establishes a complete ecosystem around key industries in China.
