Arterial Network has learned that Shanghai MicroWisdom BioTech Co., Ltd. (hereinafter referred to as “MicroWisdom Bio”), an innovative biomedical enterprise focused on liver disease cell therapy and regenerative medicine, has recently successfully completed nearly RMB 100 million in B+ round supplementary financing. This supplementary round was jointly participated by Fullway Capital, Guangdong Technology Finance Group, Shum Yip Capital, Cuihung Innovation, and Zhongshan Venture Capital. The funds will be primarily used for the clinical development, process optimization, and subsequent pipeline development of the core product HepaCure bioartificial liver, further consolidating the company’s global leading position in the field of liver disease treatment.

End-stage liver diseases such as liver failure represent a significant unmet clinical need, and bioartificial livers, as the most promising treatment modality, have become an industry focus. MicroWisdom Bio has been deeply engaged in this track for many years. Leveraging the internationally leading hepatocyte-like cell transdifferentiation technology (hiHep technology), the company has established differentiated technical barriers. This core technology originated from the research team of Professor Hui Lijian at the Center for Excellence in Molecular Cell Science of the Chinese Academy of Sciences, achieving the first direct transdifferentiation of somatic cells into hepatocyte-like cells. Related research results have been published in top international journals such as Nature and Cell Stem Cell, providing solid fundamental innovation support for product development.

The core product HepaCure bioartificial liver, developed based on this technology, has entered the Phase II clinical research stage, making it the fastest-progressing product of its kind globally. Existing clinical data show that HepaCure demonstrates excellent safety and efficacy, significantly improving the survival rate of liver failure patients and bringing new hope to the liver failure patient population.

“Liver disease treatment is a major challenge in the global medical field, and breakthroughs in bioartificial livers will bring vitality to millions of patients,” said Pan Guoyu, Chairman of MicroWisdom Bio. “This round of financing is not only a high recognition of the company’s technical strength and industrialization pathway by the capital market but also provides critical support for us to accelerate clinical translation. We will continue to advance the clinical progress of HepaCure while promoting the development of subsequent innovative pipelines for liver disease treatment, bringing innovative therapies to benefit numerous liver disease patients as soon as possible.”

A representative from Fullway Capital stated: “We have long been focusing on innovative opportunities in the liver disease treatment field. MicroWisdom Bio possesses a top-tier technology platform, a clear industrialization pathway, and an efficient execution team, making it a highly promising leading enterprise in this track. In the future, we will continue to collaborate with various resources to help the company accelerate its clinical and commercialization process, jointly promoting China’s global breakthrough in liver disease treatment technology.”

A representative from Guangdong Technology Finance Group stated: “As an important technology innovation investment platform in Guangdong Province, we highly recognize the original breakthroughs MicroWisdom Bio has achieved in the field of liver cell therapy. Its hiHep and other technologies are globally leading, and its product pipeline addresses urgent clinical needs. We look forward to accelerating the translation and application of this major technological achievement through this round of capital support.”

A representative from Shum Yip Capital pointed out: “Shum Yip Capital continues to invest in cutting-edge biotechnologies with significant social value and market prospects. MicroWisdom Bio’s bioartificial liver project features an innovative technology pathway, solid clinical data, and a clear industrialization roadmap. We believe that the company’s technological breakthroughs will strongly drive the paradigm shift in liver disease treatment and inject new momentum into the life and health industry.”

A representative from Cuihung Innovation stated: “This investment is another benchmark case of Cuihung Group’s practice of the ‘promoting industry through investment, promoting attraction through investment’ model. Leveraging the group’s resource advantages in industrial investment, industrial facilities, and industrial services, we provide enterprises with deep support from capital injection to implementation support. In the future, we will further leverage social capital through the ‘1+X’ series of funds to empower the upgrading of Zhongshan’s biomedical industry cluster.”

A representative from Zhongshan Venture Capital emphasized: “Zhongshan City is making every effort to build a biomedical and health industry cluster. MicroWisdom Bio’s choice to locate its subsequent innovative liver disease treatment pipeline R&D and production base in Zhongshan Life Science Park is a strong endorsement of the local industrial ecosystem. We are very pleased to participate in this round of investment and will actively coordinate local policies, facilities, and industry chain resources to support the company in taking root in Zhongshan for rapid development, jointly building Zhongshan into an important birthplace in the field of liver disease cell therapy.”

After this round of financing, MicroWisdom Bio will further accelerate the Phase II clinical development of HepaCure, simultaneously advancing equipment commissioning and team building at the Zhongshan R&D base, and improving the product pipeline layout in the liver disease treatment field. The company will continue to focus on clinical needs, leveraging its original technology advantages to create globally leading innovative drugs for liver disease treatment, contributing to the high-quality development of the industry.

About MicroWisdom Bio

Shanghai MicroWisdom BioTech Co., Ltd. was founded in 2015. The company possesses internationally leading hepatocyte transdifferentiation and expansion technologies and is a biomedical technology company focused on cell therapy and regenerative medicine for severe liver diseases. The company’s founders come from world-class academic research institutions and top pharmaceutical companies, dedicated to developing the world’s most leading innovative biomedical technologies and products to provide better clinical solutions for patients. The core product HepaCure bioartificial liver is undergoing Phase II clinical research, the most advanced globally, and is expected to bring breakthrough treatment options for the liver failure field.

About Fullway Capital

Fullway Capital is a VC investment institution focused on technology commercialization and early-to-mid-stage investments in technology enterprises, specializing in investments in healthcare and advanced manufacturing. Its management team has rich experience in industrial and equity investment. Fullway Capital has always adhered to the investment philosophy of “professionalism, long-term orientation, pragmatism, and collaboration.” In the biomedical investment direction, Fullway Capital has deep strategic cooperation with the Shanghai Institute of Materia Medica of the Chinese Academy of Sciences and the Zhongshan Municipal Government of Guangdong Province. Adhering to the investment strategy of “top team + top track + top capital,” it precisely invests in leading enterprises across the entire biomedical industry chain, long-term committed to promoting the development of more high-quality innovative pharmaceutical enterprises in Zhongshan’s Cuiheng New District. Representative investment projects include Kaishida, Dashi Pharmaceutical, Luoqi Bio, Hengsai Bio, Tisheng Pharma, Laimang Bio, Jingdan Bio, and others.

About Guangdong Technology Finance Group

Guangdong Technology Finance Group Co., Ltd. was established in 1992. It is one of the earliest venture capital institutions in China, the first provincial-level technology finance group in the country, and is designated by the Guangdong Provincial Government as an “important platform for serving Guangdong’s scientific and technological innovation.” As of the end of September 2025, the group had a registered capital of RMB 11.6 billion, total assets of RMB 49.857 billion, a fund scale of RMB 148.4 billion under the Guangdong Technology Finance Group system, having provided investment and financing services to over 3,000 technology enterprises and promoted 185 companies to achieve IPO listings. The group has established a fund system supporting the entire process and full chain of development for technology-based SMEs, making investment layout around Guangdong’s strategic industrial clusters.

About Shum Yip Capital

Shum Yip Capital (Shenzhen) Co., Ltd. was established in January 2019 with a registered capital of RMB 1.5 billion. It is a wholly-owned subsidiary of Shum Yip Group. Relying on the industrial ecosystem of Shum Yip Group, the company focuses on industrial investment, with a primary focus on biomedicine, advanced manufacturing, artificial intelligence, and related fields. Entrusted by the Group, Shum Yip Capital leads the construction of Shenzhen’s municipal biomedical platform, promoting the high-quality development of Shenzhen’s biomedical industry. In 2025, Shum Yip Capital was selected as one of the “TOP 15 Most Growth-Oriented State-Owned Investment Institutions in China.”

About Zhongshan Venture Capital

Zhongshan Venture Capital Co., Ltd. (referred to as “Zhongshan Venture Capital”) was established in 2016. It is a wholly state-owned venture capital institution under Zhongshan Investment Holdings Group Co., Ltd. and a registered private fund manager with the Asset Management Association of China. The company focuses on Zhongshan’s strategic emerging industries including biomedicine, high-end equipment manufacturing, new energy and new materials, and next-generation information technology. As of the end of 2024, the total scale of the Zhongshan High-Quality Development Fund of Funds system managed by the company exceeded RMB 15 billion, with over 100 cumulative external investment projects. The company has received industry honors including “2024 China’s Top 50 State-Owned Investment Institutions” and “2024 China’s Top 30 Growth-Oriented Investment Institutions.”

About Cuihung Innovation

Zhongshan Cuihung Innovation Private Fund Management Co., Ltd. was established in March 2024. It is a professional equity investment platform under Zhongshan Cuihung Group Co., Ltd. and a registered private fund manager with the Asset Management Association of China (Registration No.: P1065108). The company focuses on strategic emerging industries including biomedicine, next-generation information technology, new energy, and high-end equipment. As of now, Cuihung Group has participated in the establishment of 11 funds with a total scale of nearly RMB 5 billion, having cumulatively invested in over 80 industrial projects and promoted the implementation of 32 quality projects. Leveraging Cuihung Group’s strong full-industry-chain service capabilities, Cuihung Innovation can provide enterprises with comprehensive services including financing support, high-quality property spaces, technology matching, market expansion, and policy guidance, deeply empowering enterprise growth.