Soluble microneedle technology has received wide attention from the industry recently and is expected to be commercialized in aesthetic medicine. Tian Shi Wei gained capital preference for its R&D, mass production and quality control capabilities.
Soluble microneedle manufacturer Tian Shi Wei(Chinese: 天时维) harvested tens of millions of RMB in Series A financing round led by CO-WIN Ventures(Chinese: 凯风创投). The proceeds will be used to improve its team, expand the business in the beauty and personal care and invest in the research and development of medical devices.
Tian Shi Wei focuses on soluble microneedle technology. Its 'soluble microneedle eye patch', a product of its brand ZEIT EIFE(Chinese: 俪龄之密), was launched in 2019 and achieved large-scale commercialization last year. Co-founder of Tian Shi Wei, Yongchi Zhou, said the company delivered nearly one million pairs of microneedle eye patches, generating revenue of about CNY 10 million.
Zhou said his company's competitive advantage lies in mass production capability and its patents and technology. It is not tricky to manufacture soluble microneedles since the technology of soluble microneedles has been widely mastered by the industry. However, achieving large-scale production and meeting changing consumer demand with its products is not easy.
Tian Shi Wei also stands out in the use of sodium hyaluronate(SH for short). "Currently, Tian Shi Wei can tailor the use of SH with a molecular weight of 2000-40000 to customers' needs. Most of our competitors can only use SH with 10,000 molecular weight or less. Compatibility of SH with different molecular weight could produce better skin care effects. In addition, the lower the molecular weight, the higher the cost. So, employing higher molecular weight SH could reduce costs effectively", said Zhou.
Now, the company is developing medical devices with soluble microneedle technology. Two of its soluble microneedle medical devices are expected to move to the stage of clinical trials.
Competitors of Tian Shi Wei include Youwe Biotechnology(Chinese:优微生物科技), BIOQINGLAM(Chinese: 青澜生物), Ximei Biology(Chinese: 熙美生物).