In September 2026, the Ministry of Industry and Information Technology and nine other departments jointly issued the "15th Five-Year Plan for the Development of the Pharmaceutical Industry." The plan proposes that by 2030, biopharmaceutical R&D and application should rank among the world's top, the effectiveness of innovation-driven development should be fully unleashed, and systematic breakthroughs should be achieved in key core technologies in key fields. Core competitiveness and international influence will jump significantly. The biopharmaceutical industry will accelerate its transformation into a national emerging pillar industry, continuously safeguarding and enhancing people's life and health.
Policy sets the direction, but the progress of frontline enterprises is the truest scale of the industry's temperature. This month, several portfolio companies of Efung Capital achieved successive breakthroughs in financing rounds and core business expansion.
Portfolio Companies' Listing and Financing Progress
Inno Medicine
Recently, Inno Medicine announced the completion of nearly RMB 800 million in Series D financing. The proceeds will mainly be used for international multi-center clinical trials of the company's core pipeline products, further accelerating global clinical development and commercialization.
Proteus Medicine
Recently, Proteus Medicine submitted an 18A prospectus to the Hong Kong Stock Exchange.
NuoLing Biotech
Recently, NuoLing Biotech updated its Hong Kong IPO prospectus.
Weiguang Gene
Recently, Weiguang Gene announced the successful completion of over RMB 100 million in financing, jointly led by Yuanhang Capital and Huafang Capital, with participation from Efung Zhuohua Fund, Junling Investment, and other professional investment institutions.
Batai Medical
Recently, Batai Medical announced the completion of tens of millions of RMB in expanded Series D financing, invested by a fund under CICC Capital.
Portfolio Companies' Clinical and Commercialization Updates
Real Biotech
Recently, Dr. Dang Qun, President of Real Biotech, shared the company's latest achievements in its novel non-camptothecin TOPO1 inhibitor platform for overcoming ADC resistance.
Proteus Medicine
On September 19, the Phase III clinical trial and related molecular research of recombinant human albumin (PG-rHSA) for the treatment of cirrhotic ascites, initiated by Proteus Medicine as sponsor, were officially published in the academic journal Signal Transduction and Targeted Therapy (STTT).
IASO Biotherapeutics
Recently, multiple CAR-T clinical research results from IASO Biotherapeutics, including IASO206 (In Vivo BCMA CAR-T), were presented at the International Myeloma Society Annual Meeting.
On September 12, IASO Biotherapeutics announced that the randomized controlled Phase III registrational clinical study of equecabtagene autoleucel injection (brand name: Fucaso®), the world's first fully human BCMA-targeted CAR-T cell therapy product, for multiple myeloma patients who have received 1-2 prior lines of therapy, has completed enrollment of all subjects.
On September 26, IASO Biotherapeutics announced that its independently developed BCMA-targeted in vivo CAR-T cell therapy product IASO206 presented first-in-human (FIH) Phase I clinical study data in relapsed/refractory multiple myeloma (R/R MM) patients at the 2026 International Myeloma Society (IMS) Annual Meeting.
On September 9, the Hong Kong International Biotechnology Forum and Exhibition (BIOHK2026) opened at the Hong Kong Convention and Exhibition Centre. Zhang Jinhua, Founder, Chairman and CEO of IASO Biotherapeutics, was invited to attend and systematically shared the company's practice and reflections on using Hong Kong as a starting point to bring China's advanced therapeutic products to the world.
Meizhong Shuanghe
Recently, the proposed selection results of the Guangdong-led centralized volume-based procurement alliance for three types of medical consumables, including coronary dilation balloons, cervical dilation balloons, and ureteral stents, were officially announced. Meizhong Shuanghe's pre-dilation balloon and post-dilation balloon were both successfully selected.
Ruijiakang
Recently, the 2026 "Two Lakes Dialogue" Green and Low-Carbon High-Quality Development International Cooperation Matchmaking Conference was held in Wuhan. Yang Shihui, Chairman of Ruijiakang Biotech, attended the special event "Green Supply Chain International Cooperation Matchmaking" and engaged in matchmaking exchanges with Chinese and foreign enterprise representatives.
Weiguang Medical
Recently, Weiguang Medical's P80/P80-E multimodal OCT imaging system completed its first in-hospital clinical applications at Hong Kong Tuen Mun Hospital and Tseung Kwan O Hospital.
Tianqin Biotech
Recently, Tianqin Biotech assisted SZJ0107 tablets in obtaining CDE clinical trial approval and "Caring Plan" pilot. This is a type of hereditary neurodegenerative disease for which there is currently no effective treatment globally.
Huayuan Regeneration
On September 11, the single-center, randomized, blank-controlled clinical trial "Evaluating the Safety, Tolerability, and Preliminary Efficacy of iNPC Injection in Preventing Delayed Graft Function in Kidney Transplant Recipients," initiated and conducted by Zhujiang Hospital of Southern Medical University, was officially filed. The core technology of the iNPC injection used in the study was developed and provided by Huayuan Regeneration.
On September 20, Huang Fei, President of Guangdong Medical Association, Li Guoying, Executive Vice President and Secretary-General, Huang Jinmei, Deputy Secretary-General, and Xue Yi, Director of Guangdong Medical Innovation and Translation Research Institute, visited Huayuan Regeneration Medicine for exchange.
Yuamma Zhiyao
Recently, Dr. Zeng Xian, CEO of Yuamma Zhiyao, appeared at BIOHK 2026 and delivered a keynote speech at the "Cell and Gene Therapy Forum 1: Source Innovation and Commercial Breakthrough" session.
On September 24-25, the Molecular Frontiers 20th Anniversary Symposium will be held in Hungary. Yuamma Zhiyao will participate as an industry partner of the conference, joining this scientific exchange that brings together Nobel laureate scientists and interdisciplinary researchers.
Tingsheng Technology
On September 8, the clinical usage of Tingsheng Technology's independently developed TINGSN Sonic Eyes series intracardiac echocardiography catheters officially exceeded 10,000 units.
Keruichi
Recently, the research paper on Keruichi's biomimetic core-shell embolization microspheres, "A gradient core-shell microsphere to enable effective embolization for interventional therapy," was officially published in the international authoritative journal Regenerative Biomaterials.
Yingte Weilu
On the afternoon of September 17, Deng Yinghu, Deputy Secretary of the Party Committee and President of Tongling People's Hospital, led a delegation to visit Yingte Weilu, an innovative enterprise in Tongling Science and Innovation Industrial Park, for inspection and exchange.
Pinshan Biotech
On September 23-24, the 2nd China Biopharmaceutical Industry Conference was held in Nanjing. Pinshan Biotech showcased its self-developed core products, and Deputy General Manager Pan Junhua delivered a special report titled "Challenges in Novel Antibody Industrialization and Large-Scale Affinity Chromatography Solutions."
Huamei Haolian
On September 23, the Digital Medical and Health Industry Matchmaking Event of the 5th Global Digital Trade Expo and the 7th Digital Health Annual Conference were held in Zhejiang. Xu Bingyu, Founder and CEO of Huamei Haolian, was invited to attend the "Digital Medical and Health Going Global" themed forum.
Tiangang Immunology
From September 20 to 23, 2026, the 2026 World Manufacturing Convention was held in Anhui. Hefei Tiangang Immunology appeared as a typical case of frontier biopharmaceuticals.
Xuanyu Medical
Recently, the team of Directors Yang Min and Zhang Qifeng from the Fourth Department of Cardiovascular Medicine at Meizhou People's Hospital successfully completed the world's first one-stop composite minimally invasive surgery of atrial fibrillation pulse ablation plus dual atrioventricular nodal pathway radiofrequency ablation under general anesthesia for a patient with mirror-image dextrocardia.
Jingweishida
On September 10, the 7th batch of national high-value medical consumables centralized procurement concluded. Jingweishida's transoral electronic imaging pancreaticobiliary catheter was the highest selected price among the products shortlisted this time, and the percutaneous electronic imaging pancreaticobiliary catheter was selected in all specifications in the centralized procurement catalog. Both products successfully obtained national procurement access qualifications.
Chunjun New Materials
Recently, Chunjun New Materials jointly established Dongguan Xinjun Guangleng Technology with industrial manufacturing partners, investing hundreds of millions of RMB to focus on building a specialized production base for liquid cooling and heat dissipation components, further expanding the company's large-scale manufacturing capacity for liquid cooling products.
Haipulosi
On September 17, the 2026 Greater Bay Area New Drug R&D Efficacy and Safety Evaluation Forum was held in Shenzhen. Zhang Xiaoni, Vice President of Haipulosi Group, and Jiang Xiaofang, Director of the Medical Laboratory and Senior Experimentalist, attended. Dr. Jiang Xiaofang was invited to give a keynote report.
Tainuo Maibo
On September 12, at the special meeting "Severe Trauma Tetanus Prevention: Consensus Interpretation and Real-World Research," the protocol for the "National Multicenter Registry Platform for Post-Trauma Tetanus Exposed Population and Nested Stetotatug Pharmacodynamic Substudy" was officially released. The study is supported by Tainuo Maibo.
Heyuan Biotech
On September 11, Heyuan Biotech's Aofumin® appeared at the 18th Chinese Medical Doctor Association Infectious Disease Physicians Congress.
Portfolio Companies' New Drug and Device Approvals
Tainuo Maibo
On September 3, Xinduotuo, a recombinant anti-respiratory syncytial virus (RSV) fully human monoclonal antibody new drug independently developed by Tainuo Maibo, the world's first single-dose with up to 9 months of protection data, was officially approved for marketing by the National Medical Products Administration (NMPA).
Xuanyu Medical
On September 21, Xuanyu Medical announced that its VariSeal® varicose vein closure glue system was officially approved for marketing by the National Medical Products Administration.
Niurite
Recently, Niurite's BC0081A injection clinical trial application was accepted by CDE, proposed for advanced non-small cell lung cancer and other solid tumors.
Lingshi Zhiyuan
Recently, Lingshi Zhiyuan's ES502 injection application was accepted by CDE, a major breakthrough in the TCR bispecific antibody field.
Maijing Gene
Recently, the National Medical Products Administration (NMPA) approved Maijing Gene's ensartinib hydrochloride capsules (Benan®) for postoperative adjuvant treatment of ALK-positive stage IB-IIIB non-small cell lung cancer (NSCLC).
Biaoxin Biotech
Recently, Biaoxin Biotech's independently developed world's first Class 1 new drug GT818 capsules received approval from the U.S. Food and Drug Administration (FDA) to enter clinical trials for the treatment of advanced malignant tumors.
IASO Biotherapeutics
On September 16, IASO Biotherapeutics announced that its CD20-targeted in vivo CAR-T product IASO208, developed based on its self-developed InTelliCAR™ platform, received implied license from the U.S. Food and Drug Administration (FDA) for its Investigational New Drug (IND) application.
Portfolio Companies' Honors
Won "2026 New Drug BD Strength List TOP20" from Yaorongquan
Won "2026 China Innovative Pharmaceutical Enterprise TOP101" from Yaorongquan
Betta Pharmaceuticals, Microchip Biotech, Harbour BioMed, Frontier Biotech, New Element Pharma, Jingze Biotech, Xuanzhu Biotech, Tainuo Maibo
Won China Patent Silver Award
Won [Zhuoyue List] Annual Best Enterprise in Innovative Devices and Life Sciences
Won 3i Award Excellent New Product Nomination
Won "Best Partner" title from Baital Biotech
Won Third Prize in "Data Elements ×" Hubei Division
Successfully advanced to the national biomanufacturing competition semifinals
Three times approved vaccine production approval numbers
Passed 2026 CAP-CFDNA-A external quality assessment with full marks
Named CSGCT Ecological Co-creation Partner
Won Silver Award in Yangtze River Delta Jujin Science and Technology Innovation Competition
Selected as AI + Medical Health Innovation Solution
Growing Together with Portfolio Companies
From September 21 to 23, the 2026 Shenzhen International High-Performance Medical Device Exhibition and Innovative Medicine Exhibition opened in Shenzhen. Efung Capital appeared collectively with portfolio companies Pumen Technology, Keruichi, Microchip Biotech, Haipulosi, Core Medical, Yingmeida, Meichuang Medical, Huamai Medical, Beixin Life, Zifu Medical, and Tuwei Anchang. From early-stage financing and clinical strategy matchmaking to industrial resource coordination, Efung continues to provide full-cycle empowerment to portfolio companies.
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【Disclaimer】
The content of this article represents only the views of the Company based on current public information and materials provided by portfolio companies, and does not constitute any investment advice, medical advice, or guarantee of specific corporate performance. Investment involves risks, and caution is required when entering the market. Readers should make independent judgments based on public information. Unauthorized reproduction or commercial use is prohibited.