Aesthetic medicine company Tian Shi Wei pockets tens of millions of RMB in Series A
Dissolvable micro-needle technology has recently received a lot of industry attention and is expected to be commercialized in aesthetic medicine. Tian Shi Wei has won capital’s preference for its R&D, mass production and quality control capabilities.
Dissolvable microneedle maker Tian Shi Wei (Chinese: 天时维) has raised tens of millions of RMB in a Series A funding round led by CO-WIN Ventures (Chinese: 凯风创投). Proceeds will be used to improve its team, expand the beauty and personal care business, and invest in medical device research and development.
Tian Shi Wei focuses on dissolvable micro-needle technology. Its “dissolvable microneedle eye patch”, a product of its brand ZEIT EIFE (Chinese: 俪龄之密), was launched in 2019 and was widely marketed last year. Tian Shi Wei co-founder Yongchi Zhou said the company has shipped nearly one million pairs of micro-needle eye patches, generating revenue of around 10 million yuan.
Zhou said his company’s competitive advantage lies in its mass production capacity, patents and technology. It is not difficult to manufacture dissolvable microneedles since the technology of dissolvable microneedles is largely mastered by the industry. However, achieving large-scale production and meeting changing consumer demand with its products is not easy.
Tian Shi Wei is also distinguished by the use of sodium hyaluronate (SH for short). “Currently, Tian Shi Wei can tailor the use of SH with a molecular weight of 2,000 to 40,000 according to customer needs. Most of our competitors can only use SH with a molecular weight of 10,000 or less. The compatibility of SH with different molecular weight could produce better effects on skin care.Also, the lower the molecular weight, the higher the cost.So the use of higher molecular weight SH could reduce cost effectively,” Zhou said.
Today, the company develops medical devices with dissolvable micro-needle technology. Two of its dissolvable micro-needle medical devices are expected to move into clinical trials.
Tian Shi Wei’s competitors include Youwe Biotechnology (Chinese: 优微生物科技), BIOQINGLAM (Chinese: 青澜生物), Ximei Biology (Chinese: 熙美生物).