Recently, Jiangsu Wanhai Medical Devices Co., Ltd. announced the completion of financing worth hundreds of millions, with IDG Capital as the sole investor and Source One Capital serving as the exclusive financial advisor. This round of financing will support Wanhai Medical in further expanding its annual production capacity from the existing 90 million units to 310 million units, forming a total production capacity of 400 million units at an automated and intelligent injection pen production base, thereby further consolidating its leadership position in the global injection pen market.

Wanhai Medical was established in 2016 and is headquartered in Xitai Lake, Changzhou, Jiangsu Province, with a branch office in Shanghai. It is a national high-tech enterprise and a specialized and innovative enterprise. The company focuses on the research, development, production, and sales of various injection pen products, currently occupying a factory area of 12,000 square meters, with annual sales of hundreds of millions, serving over 180 customers globally and operating in more than 60 countries and regions. The company has more than 300 employees, including a research and development team of over 50 and a registration team of 12. Wanhai holds over 50 product patents and has more than 30 product quality testing reports issued by third-party testing agencies. The core product patents have undergone FTO searches by a well-known patent agency to ensure no infringement risks for global sales. Wanhai has obtained CE certification from TÜV SÜD, ISO 13485 certification, as well as domestic Class II medical device registration certificates, production licenses, and business filing certificates, and has completed national packaging material filing registration. The company is currently applying for FDA certification in the United States, expected to be completed by early 2026.

Wanhai Medical founder Luo Lairong stated: "We are grateful for IDG Capital's trust and support for the company. This financing injects strong momentum for Wanhai Medical's future growth and capitalization." After this round of financing, Wanhai Medical will focus on three strategic initiatives: First, expanding the production base in Changzhou to create an intelligent and automated production line with an annual capacity of 310 million units; second, deepening cooperation with global pharmaceutical companies to provide clients with comprehensive support from early research and development to registration applications, helping clients efficiently advance the related drug packaging material assessment; third, accelerating the FDA certification process to target high-end markets in Europe and the United States, while responding to the National Medical Products Administration's new GMP regulations for drug packaging materials by 2025, and completing quality system upgrades ahead of schedule. Wanhai Medical always prioritizes customer needs and strives to produce injection pens that are affordable and effective for the general public.

IDG Capital stated: We are honored to be the exclusive investor participating in Wanhai Medical's first round of external financing in its ten-year history. Wanhai Medical has been deeply engaged in the injection pen field for many years and has served hundreds of biopharmaceutical companies globally, occupying an important position in its niche market. IDG will firmly support the Wanhai Medical team in continuously laying out innovative products, enhancing production capacity, and expanding domestic and international markets, aiming to build an internationally leading platform enterprise for self-administration devices, providing cost-effective injection pen products for global biopharmaceutical companies and patients with chronic diseases.