NewMed Secures $100 Million in Series C Funding

(VCBeat) Mar. 25, 2021 -- Recently, Shanghai-based NewMed Medical Co., Ltd. ("NewMed") announced closing a Series C round of more than $100 million, led by Temasek. The new investors include YF Capital and Chengwei Chuangban Fund that join the existing group of OrbiMed, Fortune Venture Capital, BioTrack Capital, Zhangke Lingyi and Junzi Angel Capital. HaoYue Capital served as the sole financial advisor. 

This round of financing will enable NewMed to accelerate the development of interventional products for structural heart disease, as well as promote clinical trials and registration of products for mitral valve replacement and repair, and transcatheter aortic valve replacement.

Founded in March 2015, NewMed is a high-tech medical enterprise which is located in Shanghai Medical valley PLUS, Zhoupu Town, Pudong District, Shanghai. It dedicates to the research, development, manufacturing, and marketing of advanced interventional artificial heart valve systems. 

At present, NewMed focuses on a full set of interventional treatment of structural heart disease, covering transcatheter mitral valve replacement (TMVR) and repair (TMVR), transcatheter aortic valve replacement (TAVR) and auxiliary equipment of intervention treatment. Among them, the TMVR product Mi-thos, the TAVR product Prizvalve, and the TMVR product Valveclip have entered the stage of clinical research, marking the improvement of the independent R&D ability of domestic developers in the market. In addition, the company has several innovative products under development for structural heart disease, which will provide patients with comprehensive solutions in the future.

Incorporated in 1974, Temasek is an investment company based in Singapore. Temasek's portfolio covers a broad spectrum of sectors: telecommunications, media & technology; financial services; transportation & industrials; consumer & real estate; life sciences & agriculture; energy & resources. 

Founded in 2010, YF Capital is a leading private equity firm in China. YF Capital currently manages multiple USD and RMB funds. The company has formed deep sector expertise and industry insights in our focused sectors, including internet, technology, healthcare, entertainment, consumer, finance and logistics.