On June 10, 2026, the "Shenzhen Yifeng Mingyuan Seed Venture Investment Partnership (Limited Partnership)," established with equity participation from the Shenzhen Science and Technology Innovation Seed Fund, officially completed its business registration. This marks a critical step forward in Yifeng Capital's strategic deployment in ultra-early-stage investments.

Notably, this month has brought a steady stream of positive developments across Yifeng Capital's portfolio ecosystem, with multiple investee companies achieving breakthrough progress in financing rounds and core business expansion. The overall investment ecosystem is rapidly entering a phase of value realization.

Portfolio Company IPO and Financing Progress

Westlake Bio
· Westlake Bio completes oversubscribed financing round
Recently, Westlake Bio announced the closing of a new oversubscribed strategic financing round exceeding RMB 100 million. Yifeng Capital, as an existing shareholder, continued to participate in this round.

TanSheng WanWu
· TanSheng WanWu completes Series A financing
Recently, TanSheng WanWu completed its Series A financing round, with investments from Yifeng Capital, Boyuan Capital, and other institutions.

Batai Medical
· Batai Medical completes nearly RMB 200 million Series D financing
Recently, Batai Medical completed a Series D financing round of nearly RMB 200 million to accelerate the commercialization and global expansion of its pan-vascular interventional innovative medical devices.

Rich Gains
· Rich Gains secures additional financing
Recently, Wuhan Rich Gains received Series B financing from Yifeng Zhuohua Fund. The proceeds will be primarily used for the "demonstration base project for万吨-level bio-based platform compound production from non-food biomass."

MicroLight Medical
· Completes hundreds of millions in financing
Recently, MicroLight Medical completed a new financing round of several hundred million RMB, co-led by Sino-US Green Yangtze and Yifeng Capital.

HighLight Pharmaceutical
· HighLight Pharmaceutical files IPO application with HKEX
On June 8, the HKEX website showed that HighLight Pharmaceutical had submitted its IPO application.

Portfolio Company Clinical and Commercialization Updates

HighLight Pharmaceutical
· JAK1/TYK2 inhibitor to be included in breakthrough therapy program
On June 24, 2026, HighLight Pharmaceutical's JAK1/TYK2 inhibitor TLL-018 tablets were recommended for inclusion in the breakthrough therapy drug program for the treatment of rheumatoid arthritis.

TNM Bio
· Partners with Shanghai Pharmaceutical to accelerate global expansion of next-generation "tetanus shot" Staidota mAb
Recently, TNM Bio and Shanghai Pharmaceutical's International Business Division held a signing ceremony in Shanghai for the strategic cooperation on the commercialization of Staidota mAb in the Philippines.

Huayuan Regeneration
· Attends ISO 2026, discusses cutting-edge exploration in kidney disease treatment
From June 11 to 12, the 5th Stem Cell Therapy and Organoid Deep Focus Forum (ISO 2026) was held in Beijing. Dr. Liu Yajing, Vice President of R&D at Huayuan Regeneration, actively participated in the sub-forum on "iPSC-Derived Stem Cell Therapy Development."

Kento Fluid
· New version of MAP96 pipettor launched
Recently, Kento Fluid launched its new version of the MAP96 pipettor.

New Element Pharma
· Novel anti-gout drug initiates Phase 3 clinical trial in China
On June 23, New Element Pharma announced that its independently developed small-molecule innovative drug for gout, ABP-671 (lingdolinurad), has initiated a Phase 3 clinical trial in China, with the first patient dosed.

Coating Bio
· Initiates first-in-human clinical trial for dry eye disease
Recently, Coating Bio announced that the first subject has been dosed in its first-in-human (FIH) clinical trial for dry eye disease.

Huamei Haolian
· Invited to attend AI+ Empowering Alumni Development Forum
Recently, Huamei Haolian was invited to attend the AI+ Empowering Alumni Development Forum to discuss how AI health management is reshaping the healthcare ecosystem value chain.

· Appears at HKU Business School Forum
On the afternoon of June 13, the themed forum "Smart Innovation in Healthcare, Prosperity for All" was held in Hong Kong. Xu Bingyu, Founder and CEO of Huamei Haolian, attended and delivered a keynote speech.

Tianqin Bio
· Tianqin Bio's NHP metabolic models showcased at ADA Annual Meeting
Recently, at the 86th American Diabetes Association (ADA) Scientific Sessions in New Orleans, Tianqin Bio's independently developed non-human primate (NHP) metabolic disease models attracted significant attention.

· Supports Mabwell's innovative drug 9MW5211 in receiving IND approval
Recently, Mabwell announced that its innovative drug 9MW5211 received official FDA clearance for its clinical trial application. Tianqin Bio's wholly-owned subsidiary, Tianqin Xinsheng, provided the full toxicology research services for the project.

Hannuo Medical
· Builds global ECMO expert platform
From June 11 to 13, the 8th Asia-Pacific Extracorporeal Life Support Organization Annual Meeting was held in Japan. Hannuo Medical showcased the multi-modal conversion capabilities of its Lifemotion ECMO system at the exhibition.

Lingyi Bio
· Appears at the 3rd International GBA1 Conference
Recently, Lingyi Bio attended the 3rd International GBA1 Conference, presenting the latest progress in GBA1-related Parkinson's disease gene therapy research.

Jingwei Shida
· Appears at the 23rd Beijing International Digestive Disease Forum
On June 14, the 2026 World Chinese Digestive Physicians Congress and the 23rd Beijing International Digestive Disease Forum concluded in Beijing. Jingwei Shida engaged with clinical experts on multiple dimensions, including the WEO-ERCP training system development, to explore new pathways for standardized and precise digestive endoscopy.

Zifu Medical
· Appears at the 2026 Hangzhou Endoscopy Conference
On June 4, the 3rd Medical Endoscopy Technology Development Conference and the 1st Medical Surgical Robot Forum was held in Hangzhou. Zifu Medical was invited to attend and deliver a thematic presentation.

True Bio
· Appears at ASCO Annual Meeting
Recently, at the 2026 American Society of Clinical Oncology (ASCO) Annual Meeting in the United States, True Bio, in collaboration with Ruijin Hospital affiliated with Shanghai Jiao Tong University School of Medicine, presented Phase 1 clinical trial data of Azvudine in patients with advanced solid tumors in a poster session.

Tian Gang Medical
· Appears at BIO International Convention 2026
From June 22 to 25, Tian Gang Medical appeared at the BIO International Convention 2026 in the United States, with Dr. Yin Liusong, Chief Scientific Officer, delivering a public presentation at the conference.

Pinsheng Bio
· Signs strategic cooperation agreement with Repligen
Recently, Pinsheng Bio and Repligen officially signed a strategic cooperation agreement, announcing in-depth collaboration in the field of hollow fiber filter products.

Saiyuan Bio
· Partners with Walvax Bio to accelerate clinical research of in vivo CAR immune cell therapy
Recently, Saiyuan Bio and Walvax Bio officially signed a project cooperation development agreement. The two parties will focus on mRNA-LNP-based in vivo CAR therapy, jointly advancing IIT clinical research targeting hepatocellular carcinoma.

· Appears at ASCO Annual Meeting 2026
Recently, the scientific founding team of Saiyuan Bio presented two latest research reports on tumor immunocellular therapy at the ASCO Annual Meeting in Chicago.

Ariose
· Shines at CPHI China 2026
From June 16 to 18, the 24th International Exhibition on Pharmaceutical Ingredients (CPHI China) was held in Shanghai. Ariose showcased its full-process filtration solutions covering depth filtration, liquid pre-filtration, sterile filtration, and hardware systems.

New Radiant
· Appears at top Asia-Pacific academic platform
From June 11 to 14, the 20th Asia-Pacific Cardiovascular and Interventional Radiology Conference was held in Suzhou. New Radiant systematically presented its forward-looking layout and key technological achievements in interventional radionuclear medicine at the conference.

TanSheng WanWu
· Ningdong thousand-ton e-SAF project breaks ground
On June 16, TanSheng WanWu's thousand-ton Direct Air Capture (DAC) to sustainable aviation fuel (e-SAF) project officially broke ground at the Ningdong Energy and Chemical Industry Base in Ningxia.

Cloudbreak Pharma
· Global innovative ophthalmic drug CBT-001 completes patient enrollment in international multi-center Phase 3 trial
Recently, Cloudbreak Pharma announced that its global innovative ophthalmic drug CBT-001 for pterygium has completed patient enrollment across all global centers in its international multi-center Phase 3 clinical trial.

Heyuan Bio
· Directly engages with the Technology Empowerment sub-forum at the China Hospital President Annual Meeting
From June 5 to 7, the 20th China Hospital President Annual Meeting was held at the Xiamen International Conference and Exhibition Center. Heyuan Bio presented its product Offumin® at the "Technology Empowerment" sub-forum.

Huahaotianzhong
· Appears at ASCO Annual Meeting 2026
Recently, at the ASCO Annual Meeting in Chicago, Huahaotianzhong presented the final Phase 2 clinical study data of its core product Utidelone Capsules combined with Capecitabine (CAP) for metastatic breast cancer, the latest clinical research on Utidelone Injection (UTD1) combination therapy for HER2-positive metastatic breast cancer, and the latest data from the FRUTD-001 study.

Portfolio Company New Drug and Device Approvals

Pulai Pharma
· World's first gana-type antimicrobial peptide new drug approved for market
On June 17, Pulai Pharma's independently developed Puyike®, China's first Class 1 innovative gana-type antimicrobial peptide drug, received market approval from the National Medical Products Administration (NMPA).

RuiJing Bio
· NGS thyroid cancer molecular detection kit officially approved
On June 23, RuiJing Bio's independently developed "Human BRAF/TERT/RET/NTRK3 Gene Mutation Detection Kit" received a Class III medical device registration certificate from the NMPA. It is the first and only NGS platform-based thyroid cancer molecular detection-related kit approved in China.

Huahaotianzhong
· World's first oral solid microtubule stabilizer receives Phase 3 clinical trial approval
On June 11, Huahaotianzhong announced that its core pipeline product Utidelone Capsules (UTD2) for the treatment of HER2-negative advanced breast cancer received clinical trial approval from the NMPA for a randomized, controlled Phase 3 study.

MicroLight Medical
· China's domestically developed 355nm cold laser ablation device approved for market
Recently, FastErazer, a frequency-tripled Nd:YAG laser ablation device independently developed by MicroLight Medical's subsidiary Zhongke Rongguang, officially received NMPA market approval.

TingSheng Technology
· 7th ICE product TINGSN Sonic Eyes 8 Pro approved
On June 23, TingSheng Technology's TINGSN Sonic Eyes 8 Pro single-use intracardiac echocardiography diagnostic catheter officially received NMPA approval, obtaining a Class III medical device registration certificate.

Xuanyu Medical
· StrenSoft™ steerable pulmonary artery thrombectomy stent system receives NMPA approval
On June 1, Xuanyu Medical's independently developed StrenSoft™ steerable pulmonary artery thrombectomy stent system officially received NMPA market approval.

Xunsen Bio
· Equecabtagene Autoleucel Injection NDA officially approved by Singapore Health Sciences Authority
On June 18, Xunsen Bio announced that the Singapore Health Sciences Authority (HSA) has officially approved the New Drug Application (NDA) for its independently developed fully human BCMA-targeted CAR-T cell therapy product, Equecabtagene Autoleucel Injection.

Portfolio Company Honors

• Approved to establish a Postdoctoral Research Station Sub-center

• Wins 2026 Global Medical Technology "Ophthalmic Innovation Device Award"
  · Century Kangtai

• Full marks in the National Health Commission Clinical Laboratory Center (NCCL) - 2026 Solid Tumor Fusion Gene High-Throughput Sequencing Detection (RNA Level) External Quality Assessment Pre-Research Program
  · MaiGene

• Wins Molecular Laboratory - 2026 Insurance Innovation Competition "Nine Heavens Moon Award"
  · Huamei Haolian

• Named to EPharma Manager - 2026 China Top 100 Innovative Pharmaceutical Enterprises
  · Ascentage Pharma, Tian Gang Medical

• Recognized as Hangzhou "Good Sprout" Enterprise
  · Westlake Omics

• Appointed as Director of the Artificial Intelligence Department of the 4th Executive Committee of CCI
  · Zhu Rui, Chairman of MicroLight Medical

• Named to 2026 Top 100 Chemical R&D Strength
  · Beta Pharma

• Named to 2026 China Top 100 Seed Innovative Pharmaceutical Enterprises
  · HighLight Pharmaceutical

Yifeng Capital Honors

36Kr
Yifeng Capital
China Equity Investment Industry Venture Capital Institution

Dark Waves
Zhu Pai, CEO of Yifeng Capital
2026 China Best Young Investment Professional

Yifeng Capital Milestones

Yifeng Mingyuan Seed Fund lands in Guangming
· On June 10, the "Shenzhen Yifeng Mingyuan Seed Venture Investment Partnership (Limited Partnership)," established with equity participation from the Shenzhen Science and Technology Innovation Seed Fund, officially completed its business registration. This marks a critical step forward in Yifeng Capital's strategic deployment in ultra-early-stage investments.

Multiple Yifeng Capital portfolio companies present重磅 data at ASCO 2026
· On June 2, the annual global premier academic event in oncology, the American Society of Clinical Oncology (ASCO) Annual Meeting, concluded in the United States. Yifeng Capital's portfolio companies, including Westlake Bio, True Bio, Qiyu Bio, Huahaotianzhong, Saiyuan Bio, Ascentage Pharma, and ChipScreen Bio, presented major clinical research data.

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