Participated · Series D · Dec 2025

Founded in 2018, Worg Pharmaceuticals is focused on creating innovative, safe and effective immunotherapy treatments targeting allergies and autoimmune diseases. Headquartered in Shanghai with an operational center in Basel, the company leverages two proprietary technology platforms, PCFiT and Apitope, to rapidly build its R&D pipeline. In addition to in-house development, Worg pursues external collaborations to enrich its portfolio and accelerate commercialization. The firm is also advancing a self-developed molecular allergy-diagnostics platform to complement its therapeutic offerings. Its management team draws experience from leading global life-science organizations such as Roche, Johnson & Johnson, Alexion, Shire, the FDA, Aventis, GSK, Boteng and Fosun. With these capabilities, Worg aims to evolve into a fully integrated, globally operating pharmaceutical company. No revenue or patient-usage metrics were disclosed in the article.

Participated · Series A · Jan 2025

Ouro Medicines develops immune reset therapeutics focused on B cell–driven chronic immune-mediated diseases. Its lead candidate, OM336, is a BCMA-directed bispecific T cell engager licensed from Keymed Biosciences. Keymed is studying OM336 (CM336) in an ongoing Phase 2 expansion in multiple myeloma in China; Ouro holds exclusive rights outside Greater China and plans to start a Phase 1 study in 2025. The company also intends to advance a pipeline of discovery programs targeting distinct B cell subsets and to apply protein engineering to next-generation TCEs. Ouro launched with a $120M Series A and has assembled experienced executive leadership and clinical advisors to support development.

Led · Series A · Jul 2024

Rona Therapeutics is a Shanghai-based clinical-stage platform company specializing in nucleic acid drug research and development, led by CEO and Founder Ms. Stella SHI. The company advances siRNA programs generated from a next-generation siRNA platform, focused on metabolic diseases and CNS degenerative disorders. Its lead program, RN0191—a PCSK9 siRNA—completed Phase 1 studies in Australia and China and is ready for Phase 2 development for hypercholesterolemia. RN0361 is expected to enter the clinic in 2024 Q2 for hypertriglyceridemia, and several additional programs are at IND-enabling stages for kidney disease, obesity, and cardiometabolic diseases. Rona is also working to expand its extra-hepatic delivery platform into the CNS and other tissues. The company completed a $35M Series A+ financing to fund global development of its metabolic siRNA pipeline and platform expansion. Rona Therapeutics operates an integrated platform dedicated to discovery, development and manufacturing of RNA therapeutics, with an emphasis on a proprietary delivery platform. Its RNA medicines are described as modular and programmable, designed to target metabolic, neurological and ophthalmology diseases via different delivery systems. The company intends to advance its proprietary delivery platform and its initial pipeline of therapeutics using the proceeds from the recent financing. Rona is building facilities to expand nucleic acid synthesis, oligonucleotide chemical modification, delivery capabilities, RNA biology and manufacturing capacity. Founded in 2021, the company is led by CEO and co-founder Stella SHI. The focus is on creating RNA medicines with more specific, stable and prolonged effects.

Participated · Series B · Jun 2024

Ronovo Surgical develops Carina™, a flagship modular robotic surgery platform for minimally invasive procedures. Carina received regulatory approval from China’s National Medical Products Administration (NMPA) in March 2025 with a first-time filing covering General Surgery, Gynecology, Urology, and Thoracic Surgery. Its configurable modular architecture is designed to address flexibility, adaptability and affordability challenges posed by legacy robotic systems. Ronovo has initiated global expansion with regulatory submissions underway in Europe and South America and has received enthusiastic feedback from international key opinion leaders. Financially, the company closed a $67 million Series D led by JJDC and has raised over $100 million in 2025, including a Series C earlier in the year led by Granite Asia. Ronovo also signed a targeted collaboration agreement with Johnson & Johnson Medical (Shanghai) Ltd. to offer Carina alongside J&J MedTech surgical technologies in portions of the China market to accelerate commercialization. Ruilong Surgical focuses on a modular laparoscopic surgical-robot platform, centered on its Haishan‑1® system along with an imaging system and surgical instruments. The company emphasizes multi-specialty clinical applicability, lower learning curve and improved cost-effectiveness for robotic-assisted surgery. Over the past three years it progressed Haishan‑1® from concept to regulatory testing, completed GLP animal studies and concluded multi-center, multi-specialty human clinical trials in February 2024. Ruilong has filed more than 100 domestic and international patents and is preparing a registration submission. The company is building an industrialization campus of over 12,000 sqm covering manufacturing, clinical research and training centers to support commercialization. Ruilong pursues a dual strategy of independent R&D and global collaboration, has established a U.S. clinical center and plans to accelerate international expansion. Ronovo Surgical develops robotic and digital systems for minimally invasive laparoscopic surgery, and has exited stealth with its inaugural modular robotic platform, Carina™. Carina is built on proprietary technology to enable configurable robotic assistance across multiple surgical specialties. The system was developed with Chinese laparoscopic surgeons as the initial use case, and early discussions with KOLs in the US and Europe suggest potential for broader international adoption. Ronovo plans to accelerate multi-discipline clinical trials for Carina and strengthen R&D and clinical applications development. The company also intends to bolster its talent base and continue discussions with clinical KOLs, strategic partners and global investors at upcoming medtech conferences. Financially, Ronovo announced it has raised more than $50M to support these efforts. Ronovo Surgical, founded in Shanghai in 2019, develops minimally invasive (MIS) and digital surgery technologies and surgical robotics aimed at democratizing MIS across the Chinese market. The company was built by surgeons, medtech veterans, and robotics experts with experience at firms such as Intuitive Surgical, Johnson & Johnson, Medtronic and KUKA and emphasizes three pillars—simplicity, precision, and intelligence—in its product strategy. Ronovo is positioning its technology platform as a gateway to China for global MIS and digital surgery companies and is pursuing strategic global partnerships to accelerate development and commercialization. The firm has assembled a world-class R&D team and is working with renowned clinical KOLs as it advances its pipeline. Management says it will accelerate technology development and pursue multiple global strategic partnerships to support an accelerated path to commercialization. Ronovo aims to enable China’s hospitals with digital surgery solutions that optimize patient clinical outcomes and reduce health economic burden. Ronovo Surgical develops Carina™, a modular, configurable laparoscopic robotic platform designed in Shanghai that emphasizes modularity, configurability and compatibility. The company aims to expand Carina’s clinical applications across multiple surgical specialties and to commercialize the system in China and internationally. Ronovo says it stands at the cusp of multi‑specialty human clinical trials, roughly 2.5 years after beginning conceptual design. Leadership highlights a clinically driven design approach and a team with industry experience from companies such as Intuitive, Auris Health, KUKA, Medtronic and Smith+Nephew. The firm is pursuing a multi‑specialty roadmap to broaden access to robotic surgery and accelerate adoption by surgeons and hospitals worldwide.

Led · Equity · Apr 2024

Founded in 2018, 图格医疗 (Tuge Medical) develops medical endoscope imaging systems and digital intelligent operating-room products, including a 4K 3D ICG three-in-one electronic endoscope camera system. The company says it was the first domestic firm to break foreign monopoly in that 4K 3D ICG three-in-one category and the first in China to obtain the registration certificate for the product. Its product portfolio has secured multiple certifications (9 NMPA, 5 CCC, 5 CE MDR) and holds more than 120 domestic and international intellectual property rights. Flagship products—such as the Trinity 4K³ ultra-HD endoscope imaging system and the Tvenus 4K 3D ICG three-in-one system—have been trialed in over 500 hospitals and received strong clinical feedback. 图格 emphasizes in-house, full‑chain R&D (FPGA logic, image-processing algorithms, hardware) and has built a professional marketing team (formed in 2022) to expand market presence. The company plans to continue product iterations and expand domestic and international marketing and channel networks to strengthen its competitiveness in minimally invasive surgical endoscopy.