Hangzhou Qiantang Longyue Biotechnology Co., Ltd. (“Qiantang Longyue”) announced the completion of an A++ financing round exceeding RMB 100 million, led by Huimei Capital, with follow‑on investment from Chenyuan Venture Capital, Zhejiang University Qizhen, and other institutions, and Changhai Capital serving as exclusive financial advisor. The company disclosed that its post‑money valuation has reached near‑unicorn level. Proceeds will be used primarily to further strengthen R&D and industrialization capabilities and to complete its overall layout in innovative drug‑device combination packaging and drug delivery systems.
Contents
Financing Snapshot
| Item | Detail |
|---|---|
| Round | Series A++ |
| Amount | Over RMB 100 million |
| Lead Investor | Huimei Capital |
| Follow‑On Investors | Chenyuan Venture Capital, Zhejiang University Qizhen, and other institutions |
| Financial Advisor | Changhai Capital (exclusive) |
| Post‑Money Valuation | Near‑unicorn level (specific figure Not disclosed) |
| Use of Proceeds | Enhance R&D and industrialization capabilities; complete the layout in innovative drug‑device combination packaging and delivery systems |
| Announcement Date | 17 Sep 2026 |
Company Profile & Technology Platforms
- Founding & Mission: Founded in February 2021 and headquartered in Hangzhou, Qiantang Longyue is a high‑technology service provider of innovative packaging and drug delivery system solutions for the biopharmaceutical industry, focused on the R&D, production, and sales of novel drug delivery systems, high‑end primary pharmaceutical packaging, and drug‑device combination devices – addressing core pain points of traditional administration: insufficient targeting, low bioavailability, and poor patient adherence.
- Founder Pedigree: Founder, Chairman, and General Manager Wu Liqun holds a polymer materials degree from Zhejiang University and brings over 25 years of R&D, regulatory, and process experience in medical polymer devices, including a long tenure as China R&D head for a renowned Japanese multinational. He founded the company after identifying a critical market gap: “many pharmaceutical companies develop new drugs but lack matching novel devices.”
- Core Team: The core team hails from internationally renowned medical device companies with extensive industrialization experience.
- Technology Architecture: Four core technology platforms in polymer drug infusion devices and active precision medical devices, supporting a product pipeline across five strategic directions.
Product Pipeline, Manufacturing & Quality Systems
| Capability | Detail |
|---|---|
| Core Products | COP pre‑filled syringe series (standard, high‑viscosity aesthetics, highly sensitive drugs, low‑temperature specifications); drug reconstitution and complex injectable solutions; ophthalmic delivery series (silicone‑oil‑free ophthalmic syringes, antibacterial multi‑dose eye‑drop bottles, nasal nebulization devices); aesthetics injection series (multi‑specification needles, dedicated syringes, intelligent reconstitution systems); nephrology products; intelligent electronic infusion series |
| Manufacturing Base | 8,000 m² GMP Class 10,000 (Grade C) cleanroom with a complete laboratory system |
| Quality Systems | Full‑process R&D and quality management compliant with FDA (QSR820), EU (ISO 13485), and NMPA requirements |
| Registered Product | Self‑developed single‑use sterile injection needle received an NMPA Class III medical device registration certificate in July 2025 |
| Industrialization Project | Research institute and production base in the Jinhua Jinyi Comprehensive Bonded Zone for 70 million units per year of novel drug delivery systems – ≈32 mu planned land, ≈55,000 m² total building area; completed in 2025 |
Strategic Partnerships & Market Impact
- International Collaboration: Qiantang Longyue has signed a strategic cooperation agreement with Wanyite (the kidney care company to be spun off from Baxter Healthcare) to jointly develop peritoneal dialysis access solutions responsive to Chinese market needs, advancing PD catheter technology. The company also co‑develops novel delivery systems and combination products with numerous well‑known domestic pharmaceutical companies.
- Industry Recognition: Designated a Zhejiang Province “Specialized, Refined, Distinctive and Innovative” (SRDI) SME; winner of the 2024 CPHI Aesthetics Innovation Gold Award and the 2025 CPHI Drug Delivery Innovation Award.
- Market Tailwind: The global novel drug delivery system market is projected to expand from US$117.66 billion in 2025 to US$129.45 billion in 2026, a 10 % CAGR – a rapidly expanding arena in which the five‑year‑old Hangzhou company is rising as a dark horse.
- Structural Shift: Treatment settings are moving from hospital to home administration and from intravenous to subcutaneous delivery, driving sustained demand for innovative delivery systems; Qiantang Longyue’s deep accumulation in polymer infusion devices, full‑chain CDMO synergy, and internationally compliant quality systems occupy a unique ecological niche in this transition.
- Growth Trajectory: With the A++ round completed, the company is expected to accelerate its leap from an R&D‑driven enterprise toward a leading domestic novel drug delivery system platform, serving biopharmaceutical companies in China and globally with safer, more precise, and more efficient administration solutions.
Forward‑Looking Statements
This brief contains forward‑looking statements regarding Qiantang Longyue’s use of financing proceeds, industrialization ramp‑up, partnership development, product registrations, and market expansion. Actual results may differ materially due to risks including regulatory approvals across jurisdictions, manufacturing scale‑up, customer adoption, competitive dynamics, and market growth assumptions.-Fineline Info & Tech
