Good News | Endoso Life completed the A-round financing of over RMB 100 million, invested by Wego Songyuan Fund as the leading investor, and by Lapam Capital as the following investor
1970-01-01 08:33:44
Founded in 2021, Endoso Life is a medical device enterprise engaged in the research, development, production and sales of high-end medical endoscope system and related innovative products. The Company's products cover minimally invasive rigid endoscope system, optical rigid endoscope, single-use digital endoscope and endoscope-related high-value consumables, which can be applied in departments including general surgery, urology, gynecology, gastroenterology, respiratory medicine departments and so on.
According to Frost & Sullivan's statistics, the size of global medical endoscope market will be USD 27 billion in 2024, and it is expected to grow to USD 39.6 billion in 2030. The size of Chinese medical endoscope market is expected to reach RMB 40 billion in 2025. Imported products account for 90% of the market share. Thereinto, the annual growth rate of single-use endoscope market is 70% and the annual growth rate of fluorescent rigid endoscope market is 100%. Opportunities for domestic products to replace them are coming.
Endoso is one of the few companies in China that has mastered the core “bottleneck” technology of rigid endoscope and flexible endoscope at the same time. With this advantage, it has continuously introduced unique and scarce products and solutions, and will have many important products listed in the world in the future.
There is a vast space for domestic rigid endoscope products to replace imported products. The optical endoscope body of rigid endoscope system is the core key to restrict development of domestic products. Endoso is one of the few manufacturers in the world with self-research and self-production capacity of endoscope body of high-end fluorescent rigid endoscope, and its product performance is leading the world. In addition, the 4K white light endoscope and main engine stability of Endoso has ranked the first echelon in China.
Endoso’s endoscope body is excellent in four aspects: anti-fogging, high temperature and high pressure resistance, 4K high resolution and fluorescence enhancement, breaking the technological monopoly of German enterprises. At present, Endoso’s fluorescence laparoscope has been approved by the EU CE, and the three certifications CE+FDA+NMPA are complete.
The Company also has a very competitive single-use endoscope platform, in which the core mechanical components (snake bone, insertion tube, etc.), laser welding, CMOS optical components and other core components are gradually being self-manufactured, with the optimized cost. The single-use bronchoscope and single-use digital ureteroscope independently developed by Endoso have been approved for marketing in China, and there will be a big space for the products to expand in the future.
Regarding this financing, Shuai Jinxiao, the founder of Endoso Life, said: The medical endoscope industry has a huge market space worldwide, especially in emerging market segments such as fluorescent endoscope and single-use digital endoscope. China enterprises are expected to surpass overseas brand enterprises through technological innovation and cost optimization. Starting from its own advantages, Endoso Life focuses on breakthroughs in core technologies related to endoscopes, chases product quality in a patient and solid manner, and adheres to intensive development in advantageous fields. We are very grateful to Wego Songyuan Fund and Lapam Capital for their recognition of the Company. With the support of new and old shareholders, we will take advantage of product technology to actively explore domestic and overseas markets and strive to grow into an endoscope enterprise with competitiveness in the industry.
Xing Jianglong, General Manager of Wego Songyuan Fund, said: Medical endoscopes in China are in the opportunity of rapid development and replacing imported products with domestic products. In terms of the rigid endoscope market, we are optimistic about the investment opportunities in the market segment of high-end fluorescent optical endoscope bodies, and their design and processing are very difficult. Excellent endoscope body presentation scheme can reduce the requirements for image processing in the later stage, and meet the requirements of hundreds of times of high-temperature and high-pressure sterilization. Such endoscope body has a steady growth market demand worldwide. Endoso has mastered the underlying technology and performed well in four dimensions: “anti-fogging, high temperature and high pressure resistance, 4K high resolution and fluorescence intensity”, breaking the technological monopoly of German enterprises. In addition, Endoso has the most complete single-use digital endoscope platform, and its core components are expected to be fully manufactured by self, thus achieving a balance between performance and cost advantages. We are optimistic about the team's rich industry technology accumulation and strong execution for many years. Through this strategic investment, both parties give full play to their respective advantages in R&D, innovation and market access, and achieve mutual benefit and win-win results, hoping to bring more high-quality and high-level innovative products to the medical market.
Yu Zhihua, the founding partner of Lapam Capital, said: Endoso Life has completely independent research and development capability as well as innovation and upgrading capability of core components of endoscope to solve “bottleneck” technologies problems. This core capability is scarce in industrial segment and provides core competitiveness for the Company’s future development. Endoscope field is a medical equipment and device field with mature clinical application and large market size. Furthermore, under the market opportunity that imported products still dominate the market and products are in the upgrading period, Endoso Life is expected to open up the market and develop continuously by breaking through “bottleneck” technologies, product cost advantages brought by innovation and optimization, and innovative products with significant health economic advantages under clinical needs.
About Wego Songyuan Fund
Wego Songyuan Fund was established in December 2020 with a scale of RMB 2 billion, which was initiated by Wego Group. The Fund focuses on innovative medical devices, biomedicine, medical services, rehabilitation and old-age care and other related targets, and relies on Wego Group’s deep experience and industrial advantages in the medical industry to help the invested enterprises grow rapidly. At the same time, Wego Group will rely on the fund investment to speed up the layout of upstream and downstream high-quality targets in its own industrial chain as well as new medical fields.
About Lapam Capital
Lapam Capital, established in August 2010, is a leading professional investment institution in the field of biomedicine in China. At present, it manages four RMB funds and one USD fund, with a total management fund scale of nearly RMB 10 billion. Lapam Capital focuses on innovative drugs and innovative medical devices, and has invested in more than 70 leading enterprises in market segments of innovative drugs and innovative medical devices in China. Its investment portfolio includes many star enterprises in the industry, such as Betta Pharmaceuticals, Rongchang Pharmaceutical, Eyebright Medical, Clover Biopharmaceuticals and Stemirna Therapeutics. The fund management team of Lapam Capital consists of financial professionals with rich investment experience and top medical experts. Team expertise, industry experience and resource network are highly complementary, which can provide all-round value-added services for the invested innovative drugs and innovative medical device enterprises, and play a key role in the development of enterprises, receiving unanimous recognition by the industry.
