ECM is published in a top journal, and the financing of upstream enterprises is accelerating.
The ECM, hailed as the third - generation biological regenerative material, is reaching a turning point in its development.
On April 17, 2025, the Guido Kroemer team from the University of Sorbonne in France published a review paper titled "From geroscience to precision geromedicine: Understanding and managing aging" in Cell. They listed the extracellular matrix (Extra Cellular Matrix, hereinafter referred to as "ECM") as the thirteenth hallmark of aging.
Markers of human aging, image source: Cell
Meanwhile, Meibo Biotech and Baiyiyuan Biotech, upstream companies focusing on the emerging ECM material, have recently received tens of millions of RMB in strategic investments respectively, aiming to promote the commercialization process of ECM - related products. Market analysts believe that with the rise of ECM materials, the field of regenerative medicine is entering a new era of transition from "artificial filling" to "biomimetic regeneration".
Although the ECM still faces a series of challenges such as cost, technology, and market awareness, with the ECM being featured in top - tier journals and the injection of capital, it is entering its golden age of development.
Leading enterprises are quietly deploying
Facing such a promising material, leading enterprises naturally won't miss the opportunity.
At the end of April after the ECM was featured in Cell, Bloomage Biotechnology's self - developed injectable sodium hyaluronate composite solution - Type M, "Runzhi · Titou", was approved for the registration certificate of Class III medical devices. This is the first compliant kinetic energy product in China indicated for "facial skin improvement", and it is also a clinical application of a composite intervention program for ECM aging.
At the 5th Recombinant Collagen Science Forum and Marubi's new product launch event, Marubi Biotech announced that its research on active substances for skin - care efficacy has expanded to cover all major extracellular matrix proteins (ECM proteins). Shiseido Group also launched an innovative microneedle product, MicroClick Concentrate, in May. This product contains nicotinamide and barrier - repair ingredients and claims to be able to regulate the gene expression related to ECM, covering fields such as immunity, angiogenesis, and collagen synthesis.
L'Oréal Group announced the research results of Phyllanthus emblica extract in the field of extracellular matrix (ECM), and Freda Biotechnology Co., Ltd. has also started to develop MatrixColla - 1, aiming to achieve precise regulation of the ECM. Estée Lauder Group also published research results on self - assembling short peptides in the International Journal of Cosmetic Science (IJCS) in March this year. Its research goal is directly targeted at the ECM, providing new scientific evidence for the optimization of future skin - care products and Class III medical device aesthetic fillers.
JD Health also launched a new product, Lidian ECM Collagen Patch Dressing, in late 2024 in cooperation with Heng'an Fulin, for skin care after minimally invasive plastic surgery and skin photoelectric treatment.
Deployment of some enterprises, compiled from public information
The key to attracting big brands to continuously enter the market lies in the uniqueness of the ECM.
The extracellular matrix (ECM) is a complex three - dimensional network structure composed of various proteins, glycosaminoglycans, proteoglycans, and various growth factors. It not only provides physical support for cells but also transmits key survival signals. When the growth signals received by cells from the ECM decrease, cells tend to age; if they completely lose these signals, cells will face death. In addition, through interactions with various cells, the ECM forms a specific cell microenvironment, promotes the secretion of extracellular proteases, and regulates the biological activity of growth factors, thereby indirectly regulating cell behavior.
In simple terms, the three characteristics of the ECM, namely its support structure, signal hub, and growth microenvironment, are the main supports for anti - aging research and product development.
After the approval of its product, Bloomage Biotechnology also stated that traditional anti - aging strategies mostly focus on the supplementation of a single component (such as collagen), but research on the ECM shows that the essence of aging is "system imbalance" rather than the lack of a single component. Restoring ECM function and activating regeneration signals represent an evolution of anti - aging intervention from a single - component approach to a systematic one.
Overall, the R & D directions of many brands mainly fall into two categories: one is to supplement the ECM or regulate its key components; the other is to prevent the ECM from being damaged. To achieve these two goals, it is necessary to ensure the supply of raw materials, which may also be the reason for the active entry of capital.
Capital enters the market, and financing for upstream ECM enterprises accelerates
In recent months, the ECM has caught the attention of capital.
First, in April, Meibo Biotech, which focuses on the R & D of a series of products using human - derived extracellular matrix (ECM) regenerative materials, completed a tens - of - millions - yuan Series A++ financing round.
Meibo Biotech was jointly founded in July 2020 by Dr. Xiao E, the founder of the Oral and Maxillofacial Surgery Laboratory of Peking University School and Hospital of Stomatology and a post - doctoral fellow at the University of Pennsylvania, and Professor Wei Qiang from the State Key Laboratory of Polymer Materials Engineering at Sichuan University. It is the first domestic enterprise to efficiently produce ECM regenerative materials using human - derived cell in vitro tissue engineering technology, and also the first domestic enterprise to complete the classification and definition of recombinant human collagen raw materials.
Currently, Meibo Biotech has established a 4000 - square - meter production base in Hunan Province for the production line of medical devices using aseptic processing technology, with the capacity to produce 800,000 aseptic gels annually and a production value of nearly 1 billion RMB.
The leading investor in this round of financing is Cofoe Medical, which highly recognizes Meibo Biotech's technological accumulation and commercialization prospects in the field of human extracellular matrix regenerative medical materials. The two parties are expected to achieve in - depth cooperation in high - end dressings and wound - repair business through technological innovation, product development, and market promotion.
Then in May, Baiyiyuan Biotech, which focuses on the R & D and production of new biomedical materials such as tissue repair, wound healing, and regenerative medical aesthetics represented by the extracellular matrix (ECM), received tens of millions of RMB in financing.
Different from Meibo Biotech's choice of the human - derived ECM path, Baiyiyuan Biotech has chosen the animal - derived technology path.
Baiyiyuan Biotech uses the small intestinal submucosa extracellular matrix (SIS - ECM) of pigs, an animal - derived tissue regenerative material, as its entry point, and continuously expands to multi - system ECM materials such as AAM. It has built two technology platforms with independent intellectual property rights, SIS - ECM (porcine small intestinal submucosa extracellular matrix) and AAM - ECM (acellular adipose matrix), and has developed two core products, absorbable biofilms and dura (spinal) membrane biological patches, based on these platforms.
In addition to applications in the traditional medical field, Baiyiyuan Biotech is also conducting product R & D for ECM materials in the fields of aesthetic fillers and hydro - light products. Currently, the filling product of SIS - ECM is about to complete clinical R & D and is expected to submit a product registration application this year.
Notably, this round of financing was exclusively invested by listed company Kangzhe Pharmaceutical. Similar to Cofoe Medical, the purpose of this investment is to form a resonance with its existing business.
As early as June 2024, Kangzhe Beauty, a subsidiary of Kangzhe Pharmaceutical, announced an exclusive licensing agreement with Baiyiyuan Biotech for a light medical aesthetic injectable product, "acellular matrix implant". According to the licensing agreement, Kangzhe Beauty will obtain the rights to promote, sell, and commercialize the product in China for a period of 10 years.
The cooperation between Kangzhe Beauty and Baiyiyuan Biotech means that the competitiveness of Kangzhe Beauty's regenerative light medical aesthetic product portfolio has been upgraded again, and its comprehensive strength in the light medical aesthetic field has been enhanced. The acellular matrix implant will complement the on - sale hyaluronic acid products and the in - development regenerative light medical aesthetic product series, forming a more diverse product matrix to meet the increasingly personalized and refined aesthetic needs of consumers.
This investment after a year can be seen as a continuation of the previous cooperation and also shows from the side Kangzhe's recognition of the development prospects of ECM products.
Currently, there are not many domestic upstream ECM - related enterprises. In addition to the above two, there are also Huaqing Zhimei (Meimiyuan) and Heng'an Fulin. Each of them has different technological characteristics. For example, Huaqing Zhimei uses biomimetic manufacturing, building a "cell super factory" through biological 3D printing to simulate the in - vivo microenvironment and induce human - derived stem cells to secrete ECM.
The successive investments by two listed companies are not only aimed at the synergistic effect with their existing businesses. The entry of industrial capital also marks that the ECM track is moving from the technology exploration stage to the commercialization acceleration stage. Enterprises with independent intellectual property rights and solid clinical data are naturally more likely to be favored.
In addition, the experience of upstream enterprises in obtaining approvals for products in serious medical scenarios is also an important factor attracting investors. After all, the expansion of ECM's aesthetic indications is inseparable from the approval of Class III certificates. Familiarity with the requirements of regulatory authorities will make it easier for products to be approved.
One last step for aesthetic applications
Obtaining certificates is the primary issue.
For aesthetic filling and injection products, the Class III medical device certificate is undoubtedly of utmost importance. However, according to the requirements for medical device certificate applications, almost all current aesthetic filling products emphasize the absence of living cells and biologically active components. That is to say, the effectiveness of the declared products should be mainly obtained through physical means rather than pharmacological, immunological, or metabolic means, or these means only play an auxiliary role.
According to the definition of ECM, it cannot meet the requirement of having no biologically active components. Therefore, many enterprises have chosen the ADM path.
In simple terms, acellular dermal matrix (ADM) is an engineered product of the ECM, that is, the form of the ECM after the decellularization process. Since it removes the main immunogenic cells and epidermis, it can guide host cells to grow in and promote tissue regeneration to facilitate body repair.
In terms of structure and composition, ADM is a regular three - dimensional reticular scaffold structure without cell components but containing almost all components, structures, and functions except cells. For example, type I and type III collagen fibers, which form the basic skeleton of ADM and endow tissues with a certain strength and flexibility (about 50% of the original tissue amount), and glycoproteins that play a role in connection and repair in the ECM.
In addition, some components from natural tissues are also retained in the ADM skeleton, such as hyaluronidase, chondroitin sulfate, fibronectin, VEGF, bFGF, TGF - β, neuromodulin, EGF, and BMP - 4. ADM not only guides fibroblasts to secrete collagen but also effectively induces skin fibroblasts to synthesize hyaluronic acid, and has no impact on keratinocytes and melanocytes. It is an important preparation for improving skin quality.
Data from Zhixieyun shows that there are currently 17 approved ADM products in China, mainly used for oral, corneal, and various wound and abdominal wall repairs. The raw materials are almost all animal - derived or human - derived, making it a relatively mature Class III medical device. In the second classification and definition results of medical device products in 2025, there is a classification code for medical micronized acellular dermal matrix for subcutaneous injection for nasolabial fold filling or facial contour improvement.
That is to say, ADM has already obtained Class III certificates in serious medical scenarios, and it is only a matter of time before it is approved in the aesthetic injection field.
Acellular matrix materials that have completed the main document filing, data source: Center for Medical Device Evaluation of the National Medical Products Administration
According to data from the Center for Medical Device Evaluation of the National Medical Products Administration, several domestic enterprises have completed the main document filing for acellular matrix materials. From a technical perspective, the preparation of ADM has a certain technical threshold, and enterprises with a first - mover advantage are expected to have an edge in the subsequent commercial implementation stage. This may also be one of the reasons why the two upstream enterprises received large - scale financing.
The era of slow medical aesthetics
The rise of ECM may not just be an update of materials.
For medical aesthetic institutions, the introduction of new materials not only brings new anti - aging mechanisms but also gives the industry a new narrative. First, in terms of attracting customers, the natural shaping and anti - aging effects of ECM can attract potential customers who are on the fence about medical aesthetics. This group of customers used to have concerns about foreign body filling, and the emergence of ECM has addressed their concerns, enabling medical aesthetic institutions to more easily expand their new customer base.
Second, for customers with some experience, the medical aesthetic market in the past pursued "immediate results". However, with the change in social trends, the charm of natural growth is more attractive to this group. Compared with traditional filling technologies, ECM better meets their demand for natural growth beauty. Therefore, if medical aesthetic institutions can attract this group of senior customers, they can not only effectively improve their performance but also build their reputation through them.
Of course, for medical aesthetic institutions, the improvement of tools means that their own capabilities also need to be improved.
The rise of ECM not only brings performance to medical aesthetic institutions but also poses new challenges, such as the improvement of aesthetics. Compared with the traditional "what you see is what you get" occupancy filling method, ECM requires a natural growth process and has a longer effect - taking period. How to control customer expectations during the sales process becomes crucial. At this time, having excellent aesthetic qualities and aesthetic abilities, being able to educate or meet customers' aesthetic needs and preferences, and knowing how to guide and provide professional solutions and personalized services will undoubtedly facilitate business.
At the same time, the natural growth characteristic of ECM places higher requirements on building trust between medical aesthetic institutions and customers. However, once this trust is established, it can achieve long - term customer retention and repeat purchases. Overall, the rise of ECM not only has a profound impact and brings about changes to anti - aging intervention but also provides opportunities for the rapid development of upstream and downstream enterprises in the industrial chain. Although there are still many problems in the process, once overcome, there will be a smooth path ahead.
References:
1. Qi Yanhong, Liu Yi. Research status of micronized acellular dermal matrix. Chinese Journal of Aesthetic and Plastic Surgery 2019, 30(4): 221 - 223 + 258
2. Wang Ying, Leng Ling. The role of extracellular matrix (ECM) and organoids in skin tissue repair. Chinese Journal of Cell Biology 2025, 47(5): 981–990
*Cover image source: 123rf