Minova Rongzhi Funding Surge: Series B Backed by IDG Capital

Nanjing‑based Minova Pharmaceuticals Co., Ltd. closed a Series B financing round worth hundreds of millions of RMB, with IDG Capital acting as the sole lead investor and Oriza Seed re‑investing. The capital influx is earmarked to fast‑track the company’s drug‑development pipeline and expand sales of its flagship product, Rongzhi – a deoxycholic acid (DCA) injection that dissolves fat.

Overview of the Funding Deal

• Total amount raised: ¥300 million–¥400 million (exact figure undisclosed)
• Lead investor: IDG Capital – a major player in China’s biotech ecosystem
• Co‑investor: Oriza Seed – maintaining stake from earlier rounds
• Use of proceeds:

1. Accelerate clinical development of next‑generation DCA‑based formulations
2. Scale up manufacturing capacity for Rongzhi
3. Expand marketing and distribution in domestic and international consumer‑health markets

Rongzhi: China’s First Legally Compliant Fat‑Dissolving Injection

Rongzhi’s mechanism—injectable DCA that solubilizes triglycerides—offers a non‑surgical alternative to liposuction, positioning it within a rapidly growing aesthetic‑medicine niche.

Strategic Implications

• R&D Lead: The new capital will fund Phase III trials for an expanded‑dose Rongzhi, aiming for broader indications (e.g., localized lipodystrophy).
• Market Penetration: With IDG’s network, Minova can enter Southeast Asian markets, leveraging the company’s experience in cross‑border pharma sales.
• Competitive Edge: Maintaining the first‑to‑market status in the Chinese fat‑dissolving injectable segment provides a moat against emerging generic entrants.

Outlook
Minova’s Series B round signals strong confidence from seasoned investors in its consumer‑health strategy. The company is targeting a $30 million‑level revenue milestone for Rongzhi by the end of 2026, propelled by expanded marketing, regulatory approvals in new territories, and a robust pipeline of DCA derivatives.-Fineline Info & Tech