Just Medical Receives Hundreds of Million USD in Series B Financing: Respect Value Creation and Stick to Long-Term Doctrine

Just Medical Devices (Tianjin) Co., Ltd. ("Just Medical") recently completed hundreds of millions of USD in Series B financing. This round of financing was jointly led by State Development & Investment Corp, Ltd and Qiming Venture Capital. The original shareholders Fang Yuansheng Ventures, Jifeng Capital, Tasly Capital, and Fangyuan Capital continued to follow the investment. 

This round of financing will be used by the company to help implement full-process digital solutions for joints implants and cartilage repair product solutions.

Public information shows that this financing is the largest single financing in the joint field in recent years. Just Medical’s successful completion of Series B financing not only demonstrates the capital market’s recognition of Just Medical’s continuous innovation system, but also proves that Just Medical’s industry has ample room for development. 

Mr. Liu Nian, President of Just Medical, said: “Thank you for the trust of top investment institutions and the company’s long-term recognition of the company’s adherence to the ecological construction of joint prevention, adherence to customer-centricity, and innovation and value creation. In the future, the company will continue to focus on the step-by-step prevention and treatment of joint diseases, continue to invest in innovation platforms such as artificial intelligence, 3D printing, new material applications, and regenerative medicine, and accelerate innovation. Serve doctors, provide patients with diversified, higher-quality products and services, and ultimately improve patient satisfaction and happiness. Follow the logic of the market and become the best market and social entity." 

According to the data, Just Medical focuses on joint diseases, focusing on improving the happiness of patients with joint diseases, reducing the cost of the entire society, building and improving joint step treatment product solutions, and forming a harmonious joint disease treatment ecosystem. 

Relying on product innovation, the compound growth rate of product sales of Just Medical has exceeded 50% for three consecutive years. In terms of market promotion, Just Medical has established a nationwide sales network, and at the same time sells its products to nearly 20 countries and regions overseas.

Relying on innovative R&D capabilities, pioneered a variety of joint products 

Throughout the core advantages of Just Medical, the source of the great confidence of many well-known investment institutions in Just Medical is its strong innovation ability, R&D ability and commercialization ability.

According to official information, the artificial joint medical-industrial interactive dual platform built by Just Medical—3D JCT Medical-industrial Interaction Center and BONI® Key Laboratory, has established a cooperation and communication platform for hospitals, clinicians, scientific research institutions and universities, which is convenient for more innovative medical-industrial interactive cooperation projects, and develop new technologies, new materials and new products with international competitiveness.

Based on a convenient medical-industrial interactive platform, Just Medical has developed the world's first trabecular femoral stem and trabecular total hip joint. The trabecular bone structure of the acetabular and femoral sides of the total hip joint adopts 3D metal printing technology to construct the trabecular bone structure, which realizes the qualitative improvement of bone ingrowth performance, overcomes the mechanical strength problem of the printed parts, and makes the perfect combination of the osteoinduction and mechanics strength performance. It has become the world's first and only marketed product in this type of product. 

Just Medical has also developed mobile bearing type uni-compartmental knee prosthesis system. The advantage of this product is that partial replacement does not require anterior and posterior cruciate ligament resection and soft tissue balance. It can be completed through minimally invasive surgery, providing patients with an effective product selection. It is worth mentioning that the product is expected to be approved in the near future.

The 3D trabecular bone cementless knee joint prosthesis system is also a product developed by Just Medical’s strategy to fill the gap in China. This product solves the problem of the immediate stability of the prosthesis and at the same time realizes the long-term stability. Just Medical said: "Once the 3D trabecular bone cementless knee prosthesis system is on the market, it will overturn the global knee joint fixation method." 

Based on its keen insight into the development trend of the market and industry, Just Medical also plans beforehand to seize market opportunities. For example, Just Medical is the first artificial joint company to deploy surgical robots in China. The EPS joint surgical robot developed by it aims to change the status quo of joint surgery, make surgery more convenient, and allow more orthopedic surgeons to master surgical techniques and provide patients with a more stable and precise surgical effect.

Just Medical is also the first artificial joint enterprise in China to deploy intelligent production. The first phase of its artificial joint intelligent demonstration factory with an investment of hundreds of millions of USD will be officially opened in June 2021. It is expected to increase production efficiency by 5 times and enhance competition advantages. In addition, Just Medical is also the first artificial joint company to deploy cartilage regenerative medicine in China, and has developed products such as cartilage repair agents for injection. 

It is precisely because of its strategic vision and innovative R&D strength that Just Medical has been able to develop a variety of products that are the first in the world and fill the gaps in the domestic market, and are favored and recognized by the capital market. Many investment institutions have full confidence in Just Medical, and they are willing to be friends of time to accompany Just Medical to grow together. 

At present, Just Medical has established the Tianjin Enterprise Key Laboratory of Bone Implant Interface Functionalization and Personality Research (BONI® Lab), and obtained 14 registration certificates of three types of medical devices issued by NMPA, and applied for a total of 152 patents, including applications for inventions. There are 73 patents and 16 authorized invention patents. 

In the process of continuous innovation and rapid development, Just Medical has also been recognized by the government, capital and experts. The company has been rated as a national high-tech enterprise, a leader in strategic emerging industries in Tianjin, a gazelle enterprise in Tianjin, an intellectual property pilot unit in Tianjin, a famous trademark in Tianjin, and a key laboratory undertaking unit in Tianjin, and continue to undertake a number of major Tianjin biomedical engineering science and technology projects, and Tianjin's key R&D plan science and technology support key projects, etc.

Investor perspective

Ao Zhang, Executive Director of Qiming Ventures, said: “Focusing on the field of artificial joints and continuously increasing R&D investment is an important reason why Qiming Ventures is optimistic about Just Medical. Just Medical continues to optimize product design based on the original product system. Continue to develop differentiated new products, including active uni-compartmental knee, 3D printed products, surgical robots, and also have a layout in the field of regenerative medicine and new material research and development. In general, the team is really doing things and the project output is significant. We believe the market potential of orthopedic artificial joints is endless."

State Development & Investment Corp, Ltd Chuanghe said: “While the company continues to increase research and development, it continues to optimize management, improve quality and efficiency. The layout of artificial intelligence and smart factories fully demonstrates Just Medical’s determination and confidence in deepening the industry. When we visited the intelligence factory, I saw that the company’s Key Laboratory plan is very clear, and JUST Medical has made sufficient preparations for applying for the CNAS laboratory in the next step. I hope that the participation of State Development & Investment Corp, Ltd will integrate more high-quality resources for the company and help the company develop rapidly ."

Yin Jie, a partner of Yuansheng Ventures, said: “With the development of the global aging population and the improvement of people’s living standards, arthritis patients are increasingly aware of the need for prevention and treatment. The R&D layout of Just Medical in recent years is in line with the general direction of market development firmly believes that Just Medical will quickly become an excellent company in this market segment. We look forward to working with these outstanding companies to promote the rapid development of the health industry."

Yu Zhengkun, founding partner of Jifeng Capital, said: “Faced with the competition in the domestic market and unfavorable policies, the company has successfully created an integrated strategy of joint robots + consumables in a forward-looking plan. New products are accelerated to market, and old products are innovated. While continuing to strengthen innovation and R&D capabilities, considerable progress has been made in market development, achieving sales in more than 20 countries and regions around the world. We will continue to help the rapid development and growth of the company." 

Ma Qiang, General Manager of Tasly Capital, said: “Congratulations to Just Medical’s successful financing of hundreds of millions. With the accelerating process of population aging, demands of orthopedic patients for knee replacements will be more and more. Just Medical’s 3D printing series products and artificial intelligence surgical robots will surely gain huge room for development. I wish Just Medical a great future!"