On October 21, 2025, INNOVATE Corp. announced that its equity method investment, MediBeacon Inc., received approval from the National Medical Products Administration (NMPA) to sell the Transdermal Glomerular Filtration Rate (TGFR) System in China. The approval covers Lumitrace® injection, the TGFR Monitor, and the TGFR Sensor, allowing the system to be marketed as a complete diagnostic package. This regulatory milestone follows the FDA approval of the system in January 2025 and the NMPA approval of the monitor and sensor in February 2025.
The Chinese market represents a significant opportunity, with an estimated 1.4 billion population and 11 % prevalence of chronic kidney disease. By gaining clearance to sell the TGFR System, MediBeacon—and by extension INNOVATE—can tap into a large unmet need for point‑of‑care kidney function testing. The system’s non‑radioactive, non‑iodinated fluorescent tracer offers a more accurate and convenient alternative to traditional blood or urine tests.
This approval is a material event for INNOVATE, as it expands the commercial reach of its life‑sciences portfolio into one of the world’s largest healthcare markets. The company is monitoring market uptake and regulatory compliance as it begins distribution in Chinese clinics.
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