Synthetic biology firm VEMINSYN has recently closed its Angle round and Pre-A round financing, bringing total financing to nearly 50 million yuan. The angel round was co-led by Jiacheng Capital and ZhenFund, while the Pre-A round was led by Hony Capital, with existing investors Jiacheng Capital and ZhenFund participating.
As stated by the company’s founder Dr. Yaran Zhao, proceeds from this financing round will mainly be allocated to advancing clinical trials for the medical aesthetics product line, building a GMP manufacturing facility, and recruiting top talent.
Synthetic biology is currently a trend in the capital markets. Its core value lies in being an emerging technology characterized by high efficiency, environmental sustainability and cost-effectiveness, which fully meets market expectations.
Furthermore, the substantial reduction in the costs of DNA sequencing and synthesis, together with the application of gene-editing technologies, has accelerated the development of the industry. A number of commercially successful unicorn companies have also emerged in the global market.
Yaran Zhao noted that synthetic biology boasts applications across pharmaceuticals, consumer goods, agriculture, energy and other sectors, with varying levels of demand and added value across different fields.
In comparison, consumer health is a sector that combines high value demand. Moreover, synthetic biology offers distinct technological advantages and helps lower production costs compared with chemical synthesis and animal & plant extraction. Importantly, the market size of medical aesthetics and skincare is approaching RMB 1 trillion, yet its upstream sector lacks innovation. Against this backdrop, VEMINSYN has targeted upstream raw materials for medical aesthetics and skincare within the consumer health field, including collagen and other high-value bioactive ingredients.
To date, VEMINSYN has established a natural bioactive molecule database covering both plant and human sources, and has successfully designed and delivered an anti-aging skincare raw material derived from collagen.
Yanran introduced that collagen and hyaluronic acid are both vital components of the human body. It is mainly found in animal connective tissues, which include bones, cartilage, skin, tendons and ligaments. In particular, collagen accounts for 70% of human skin, making it the most abundant protein in the human body. It provides structural support for the skin and bones, serving as an important anti-aging ingredient and wound repair material with enormous application potential.
However, collagen has a complex structure and has long been extracted exclusively from animal sources. The process is not only complicated but also costly, leading to scarce supply and significant constraints on low-cost and large-scale production. Apart from animal extraction, only a handful of domestic companies such as Jinbo Bio and Giantun Bio are able to produce collagen fragments using genetic engineering. The production of recombinant collagen with intact structure and full biological activity still remains a major challenge across the industry. VEMINSYN therefore strives to deliver superior medical aesthetic and skincare products through synthetic biology technologies.
Regarding its commercialization strategy, Yaran stated that the company is essentially an upstream player focused on raw material innovation, with the goal of empowering domestic brands to go global through homegrown raw material solutions.
For commercial implementation, Yaran revealed that in the skincare raw material sector, VEMINSYN intends to partner with domestic trendy skincare brands to jointly develop differentiated new raw materials and create blockbuster products. In the medical aesthetic raw material sector, the company will develop innovative raw materials and products, conduct clinical trials and obtain Class III medical device certificates for market launch. The current financing round is being raised to support this goal.
He pointed out that innovative raw materials are scarce in the medical aesthetics industry. For new raw materials, the "raw material is the product". Examples include Aimeike’s Rutian Angel and Shengboma’s Youthful Needle, where new raw material categories have brought structural brand-building opportunities. VEMINSYN plans to explore similar opportunities.
Since its founding in May 2021, VEMINSYN has delivered its first raw material, secured orders exceeding RMB 20 million, and achieved rapid commercialization. In addition, three medical aesthetic products are scheduled to enter clinical trials in August next year.
In the long run, the company will follow a three-step strategy: first, generate cash flow and build consumer reputation through its skincare raw material business; next, obtain regulatory certifications for its medical aesthetic product line to enter higher-barrier and higher-margin sectors; and finally, gradually expand into other fields through technological iteration and industrial upgrading, with the goal of becoming a leading global supplier of protein-based biomaterials.
