Jinjiang Electronics Advances to 'Under Review' Stage in STAR Market IPO with Breakthrough PFA Electrophysiology Platform

Jan 12, 2024 08:44 CST Updated 08:44

Jinjiang Electronic

Developer of electrophysiology products

Source: Heart Future; Editor: Zhang Yuqing

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Heart Future

On January 10, 2024, the Shanghai Stock Exchange STAR Market's public information website for issuance and listing showed that the review status of Sichuan Jinjiang Electronic Medical Device Science and Technology Co., Ltd. had entered the "Reviewed" stage.

# Market Overview

According to the Frost & Sullivan report, driven by factors such as the intensification of population aging, the increase in the number of patients with arrhythmia, and the popularization of ablation surgeries as well as the upgrading of consumables for ablation surgeries,The market size of electrophysiology devices in China grew from 1.48 billion yuan in 2015 to 4.67 billion yuan in 2019, with a compound annual growth rate of 33.2%. The compound annual growth rate from 2019 to 2024 is projected to be 32.1%.

The market size of China's electrophysiology market was close to 5 billion yuan in 2019, maintaining a five-year compound annual growth rate of over 30%.With the aggravation of population aging, the increase in the number of patients in the arrhythmia market, and the popularization and technological upgrading of electrophysiological surgical products, the market scale of electrophysiological surgery-related products is expected to reach nearly 20 billion yuan by 2024.

However, it should be noted that the electrophysiology market in China is currently monopolized by multinational giants such as Medtronic, Johnson & Johnson, Abbott, and Boston Scientific.Johnson & Johnson, Abbott, and Medtronic, three major giants, occupy nearly 90% of the electrophysiology market in China.

However, with the continuous improvement in technical capabilities of China's cardiac electrophysiology companies, the ongoing enhancement of product competitiveness, and national policy support for local brands, China-produced electrophysiology companies represented by MicroPort Electrophysiology, HT Medical, Xinsite Science, and Jinjiang Electronic have begun to rise. Among them,Jinjiang Electronic has become a leading Chinese cardiac electrophysiology company with a relatively complete product layout in the field of electrophysiology equipment.

# Product Introduction

As early as 2013, Jinjiang Electronic launchedChina's First Domestically Produced 3D Cardiac Mapping System,Break the import monopoly. And on this basis, launch in December 2022The New Generation LEAD-Mapping with Magnetoelectric Fusion Technology®3D Cardiac Electrophysiology Mapping System.

In November 2021, Jinjiang Electronic successfully completed the patient enrollment for the LEAD-PFA Pulsed Field Ablation System registration clinical trial, becomingThe First in the Chinese MarketThe company has completed the patient enrollment for the PFA product registration clinical trial. Subsequently, itsLEAD-PFA®️Cardiac PulseThe PulsedFA®️ Single-Use Cardiac Pulsed Field Ablation Catheter and the pulsed field ablation system have entered the special review process for innovative medical devices in China.

As a pioneer in China's cardiac electrophysiology industry, Jinjiang Electronic continues to innovate its technology matrix and expand its product lines, establishing seven core technology platforms: a simulation and validation technology platform, a medical electronics technology platform, a mapping and navigation technology platform, an RF ablation energy technology platform, a pulsed electric field ablation energy technology platform, a catheter process technology platform, and a system integration technology platform.Possesses independent R&D capabilities for a full range of cardiac electrophysiology devices and consumables, and is expanding into the pain management field.

In the emerging PFA cardiac electrophysiology technology field, the company maintains a leading position in China in terms of the registration and application progress of PFA cardiac electrophysiology products.On December 27, 2023, Jinjiang Electronic's LEAD-PFA Cardiac Pulse Field Ablation Instrument and Pulsed FA Single-Use Cardiac Pulse Field Ablation Catheter received marketing approval from the National Medical Products Administration (NMPA) in China.

Data shows,PFA, as a revolutionary technology, is a major disruption to existing ablation methods and also the hope for the next generation of atrial fibrillation ablation.Unlike traditional radiofrequency ablation and cryoablation, PFA has attracted the attention of many medical device R&D companies due to its higher safety, more reliable efficacy, and shorter learning curve.

With a mature magnetic and electric fusion three-dimensional system, Jinjiang Electronic can directly connect seamlessly with the former in the process of developing PFA.At the same time, based on the technical foundation of the consumable product Cardima, the catheter can be made finer and smaller, with sufficient space to install positioning sensors, giving it a first-mover advantage in the industry.

It is reported that the PFA product of Jinjiang Electronic is pulsed ablation under full magnetic positioning three-dimensional mediation, which has the following advantages:

Safer:

PFA is a non-thermal ablation method that does not generate heat, causes virtually no heat-related damage, and is highly selective without harming surrounding tissues.For the X-ray exposure issue that both doctors and patients care about most, it can also be observed clinically that, except for requiring minimal exposure during septal puncture and the ablation process, Jinjiang Electronic's PFA system can achieve nearly zero radiation. This ensures safety and efficacy while significantly reducing X-ray exposure time, benefiting both doctors and patients immensely.

At the same time,Based on the three-dimensional platform combined with pulsed ablation, it is possible to achieve modeling, mapping, ablation, and verification in one single catheter for the entire procedure.The surgical procedure is simpler and smoother, eliminating the need for multiple punctures, additional sheaths, or repeated catheter exchanges.

More Efficient:

The circular multi-electrode ablation catheter launched this time achieves ablation and isolation of the bilateral pulmonary veins.It belongs to simultaneous multi-point discharge, with each discharge requiring only 0.3 milliseconds, which is shorter in time and more efficient compared to radiofrequency and cryotherapy.At the same time, under the real-time mediation of the three-dimensional mapping system, the ablation effect can be immediately displayed, and any problematic areas can be promptly subjected to supplementary ablation.

More Comfortable:

The entire surgical process can optimize parameters for patient comfort. The surgery is performed under local anesthesia, with no significant pain or irritation, allowing the patient to comfortably complete the procedure.

More Convenient:

PFA has no strict requirements for contact, and the design of the circular catheter also aligns with the operating habits of most doctors today.As long as the atrial septal puncture can be completed, the operational skills can basically be mastered quickly, and the circular catheter does not need to use saline infusion during the entire surgery.Not only does it simplify the surgical process, but it also has advantages for patients who cannot tolerate saline.

# Company Introduction

Jinjiang Electronic was established in 2002 and is a company focused onCardiac Electrophysiology FieldDevelopment, production, and sales of high-end innovative medical devices for diagnosis and ablation, with core product quality and performance fully benchmarked against international leaders. After more than two decades of development,The company has become the leading enterprise in China's cardiac electrophysiology field.Provide safe and efficient comprehensive diagnosis and treatment solutions for patients with rapid arrhythmia worldwide.

In 2004, Jinjiang Electronic collaborated with Bard, not only breaking through the core technology of multi-polar discharge (one of the underlying PFA technologies), but more importantly, achieving a leap in equipment performance. In 2011, Jinjiang Electronic's acquisition of CARDIMA enabled it to fully obtain world-leading R&D and production capabilities for a complete set of consumables, laying the foundation for building a comprehensive electrophysiology technology platform integrating devices and consumables, as well as achieving a full breakthrough in products offering solutions for complex arrhythmias.

As of the date of publication, the company's financing history is as follows:

As of the date of publication, the following partial patent information of the company has been queried:

Overseas Cardiovascular Devices:

Products of Chinese Cardiovascular Companies: