2023 China Emerging Medical Device Companies Financing Ranking: Innovators in Cardiovascular, Neurointervention, and Digital Imaging File for IPO

Jan 02, 2024 00:10 CST Updated 00:10

SONOSEMI

Active Vascular Implantable and Interventional Medical Device R&D and Manufacturer

Biotyx Medical

Developer of Biodegradable Vascular Materials and Stents

ECO Polymer

Catheter and Membrane Material Solutions Provider

AMYGDALA NEURO

Developer of Neuroregulation and Brain-Computer Interface Technologies and Products

Trulive

Structural Heart Disease Device Developer

LifeShield

Innovative Medical Device R&D and Manufacturer

XIN HENG RUI

Intelligent Mechanical Assisted Treatment Solution Provider

MacroLux

Provider of Comprehensive Endoscopic Interventional Diagnosis and Treatment Solutions

Conmind

Cardiovascular and Cerebrovascular Interventional Products R&D and Manufacturer

Dentafilm

Dental Medical Device Developer

Rhino Health

Developer of High-End Ophthalmic Surgical Equipment

Yellwin

Cardiac Surgery Implantable Medical Device R&D Provider

Source: Siyu MedTech; Editor: Pan Yanyan

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SiYu MedTech

With the changes in population structure and the improvement of medical standards, China is becoming one of the important participants and leaders in the global medical device market.For emerging companies, obtaining financing is not only an important source of funding to support their technological innovation and product development but also a crucial step in pushing them to gain a competitive edge in the market.

SiYu MedTech continuously monitors the dynamics of medical device companies both domestically and internationally, analyzing the financing situation of emerging medical technology enterprises established in China within the past five years, and summarizing the findings.2023 China Emerging Medical Device Companies Financing List。

These companies are involved in different fields such as cardiovascular diseases, interventional medicine, and digital imaging technology, providing innovative solutions to meet clinical needs and fill market gaps. This funding will accelerate the research, development, and application of new technologies, improve product quality, expand market channels, and promote further development in the medical device industry.

This list not only demonstrates the technological leadership of these companies but also reflects the rapidly developing and thriving market situation of China's medical device industry.

Technological Innovation Drives:Emerging companies focus on technological innovation and independent research and development, committed to filling the gaps in China's medical device market and driving a wave of innovation in the medical device field.

Market Segmentation and Specialization:The company's business tends to focus on niche areas, specializing in the research, development, and production of specific medical device products or treatment solutions to meet different clinical needs.

Digital Trends in Medical Devices:Digital healthcare, AI technology, big data applications, and more are increasingly integrated into device design and clinical practice, bringing more possibilities to the medical device industry.

01‍‍‍

SONOSEMI

SONOSEMIFounded in 2020, headquartered in Shenzhen, is aHigh-end implantable and interventional medical device design and manufacturing enterpriseFocusing on clinical directions such as coronary artery disease, peripheral vascular disease, and structural heart disease, SONOSEMI has broken through the technical barriers of overseas high-end medical devices in its three years of development. It has independently developed innovative products for泛vascular active interventional treatment, including a coronary intravascular shock wave treatment system, a peripheral arterial intravascular shock wave treatment system, an intracardiac ultrasound imaging system, and intravascular ultrasound. It is expected that by the end of 2024, a product matrix consisting of 4-6 products will be formed to provide customers with comprehensive integrated solutions.

On October 26, 2023, SONOSEMI Medical obtainedMore than 200 million RMB in Series B financing, co-led by Yuexiu Industrial Fund and Jianxin Equity, with Cornerstone Capital following up, and existing shareholders Tencent Investment, Eight Roads Capital, and Yahu Investment continuing to increase their investments.

SONOSEMI: Completed Over 200 Million Yuan in Series B Financing

02‍‍‍

Biotyx Medical

Biotyx MedicalSpin-off from LifeTech Scientific (01302.HK), isThe Only Company in the World Developing Iron-Based Absorbable Vascular Stents, specializing in the research and development of iron-based bioabsorbable materials and devices. Biotyx Medical has successfully developed several fully degradable iron-based bioabsorbable stent products, applied in mainstream areas such as coronary heart disease, pediatric pulmonary artery stenosis, and infrapopliteal artery stenosis.

On September 1, 2023, Biotyx Medical successfully completedOver 200 Million Yuan in Series B Strategic Financing,Introduced several strategic investors such as Gongqingcheng Huayi and GF Qianhe. Series A investors IDG and Shanghai Baoquan continued to follow up on their investments. The company has now completed the signing of the Series B capital increase agreement and shareholder agreement.

03‍‍

ECO Polymer

ECO Polymeris aFocus on the R&D and Production of Catheters and Hollow Fiber MembranesHigh-tech enterprise. The company mainly focuses on providing complete catheter and membrane material solutions for downstream medical device companies. The current applications of catheter products and accessories cover multiple disciplines, including gastroenterology, cardiovascular and peripheral, neurointerventional, urology, and IVD testing. Core products include neuro and peripheral microcatheters, vascular catheter sheaths, guiding catheters, balloon tubes, spring sheaths, disposable endoscope catheters, and related accessories.

On January 16, 2023, ECO Polymer (Shanghai Yike) completedHundreds of Millions of Dollars in B+ Round FinancingThis round of financing was jointly led by Qiming Venture Partners and SDIC Venture Capital, with follow-up investments from Shanghai Lianxin Capital, Yinglian Health Fund, and Suzhou Guofa Venture Capital.

04‍‍

AMYGDALA NEURO

AMYGDALA NEUROSplit from AMYGDALA NEURO, based in China, facing the world, and developing with clinical needs as the guide.New Generation of Neuromodulation and Brain-Computer Interface Technologies and Products, multiple products under research are aligned with cutting-edge global innovative technologies, achieving technological breakthroughs and filling industrial gaps.

As of now, the R&D team has overcome technical barriers in the fields of autonomous system design, electrode design, chip design, signal acquisition and decoding, algorithm development, and MRI compatibility. They have established a universal neuromodulation platform that incorporates some of the most cutting-edge technologies available globally. Several domestically pioneering products under development are about to enter the animal testing and clinical trial stages.

On January 21, 2023, AMYGDALA NEURO completedOver 100 Million Yuan in Angel Round FinancingThis round of financing was jointly led by Bangqin Capital and Lilly Asia Ventures, with listed company New Industries Biotechnology, Xijiao 1896 Science and Innovation Fund, and multiple institutions following the investment. The original shareholders of Yingmai Medical continued to increase their holdings.

05‍‍‍

Trulive

TruliveIs a company focused onProvide High-End Interventional Medical Devices for the Cardiovascular Field, with a particular focus on diseases with extremely high mortality and disability rates and areas where there is a lack of domestically produced solutions. The company's business spans four major disease areas: heart valves, heart failure, peripheral, and coronary, making it the only cardiovascular interventional platform enterprise in China dedicated to solving blood flow direction problems.Trulive Secures Hundreds of Millions in Pre-B Funding, Opening a New Era in High-End Medical Devices for Cardiovascular Interventions

TruliveA one-stop toolbox for cardiovascular treatment, offering solutions to various blood flow issues in the cardiovascular system, including valve management — treatment of heart valve disease to regulate proper blood flow; clearance — treatment of vascular stenosis or occlusion to ensure smooth blood circulation; and shunting — intervention for heart failure to relieve pathological high pressure.

On May 4, 2023, Trulive announced that it had completedOver 100 Million RMB in Series B FinancingThis round of financing was jointly invested by Proxima Ventures, Anhui Life Health Fund, and existing shareholder C&D Emerging Investment.

06‍‍‍

Lifeshield Medical

LifeShield MedicalIt is a Sino-German multinational medical device company located in Suzhou Industrial Park, China, and Aachen, Germany. The predecessor of the company, Suzhou Lifeshield Medical, was established in 2018 and is a...Focus on the field of in vitro and in vivo life support.The startup company is dedicated to providing high-quality products and treatment solutions for patients with cardiovascular diseases and respiratory failure through research, development, and technological innovation.

The company has chosen to adopt an "all-platform layout," focusing on the development of efficient, safe, and cost-effective products such as percutaneous ventricular assist devices (pVAD), extracorporeal carbon dioxide removal (ECCO2R), and extracorporeal membrane oxygenation (ECMO), while also developing comprehensive solutions centered around these products.

On October 8, 2023, LifeShield Medical announced the successful completionOver 100 Million Yuan in Series B FinancingThis round of financing was jointly led by Sherpa Investment and Yuanfeng Capital, with continued investment from existing investor StarVest, and participation from Shanghai Lingang Blue Bay Capital.

07‍‍‍‍

Shanghai Weimu Medical Technology Co., Ltd.

Shanghai Weimu Medical Technology Co., Ltd.Founded at the end of 2020, headquartered in Shanghai Lingang Life Blue Bay Park, isChina's First High-End Interventional Medical Device Platform Based on Innovative Materials, developed multiple products such as microspheres, hydrogels, and tissue adhesives, addressing several unmet clinical needs including liver cancer and varicose veins in the lower limbs.

Shanghai Weimu Medical Technology Co., Ltd.'s first product — a closure adhesive for the treatment of severe venous varicose veins in vascular surgery — was submitted for registration in the first half of 2023. It is expected to become the first domestically produced product of its kind to be approved in China, with clinical efficacy comparable to Medtronic's VenaSeal.

On December 6, 2023, Shanghai Weimu Medical Technology Co., Ltd. completedOver 100 Million RMB Series A FinancingThis round of financing was jointly led by Botanix and Huajin Avenue, with follow-up investments from Shengyu Investment and Chengshu Investment, among others. Existing shareholders Woyong Fund and IDG Capital continued to increase their investment, while Dian Stone Capital continued to serve as the exclusive financial advisor.

08‍‍‍‍

Sichuan Light Carrying Biotechnology Co., Ltd.

Sichuan Light Carrying Biotechnology Co., Ltd.Founded in 2018, it isProfessional in vitro diagnostic product research, production, and sales enterprise, providing high-quality products and services to customers worldwide. Headquartered in Chengdu, Sichuan, with a research and development center in Suzhou and industrial platforms in Sichuan and Hunan.

Sichuan Light Carrying Biotechnology Co., Ltd. has achieved integrated development and application from key raw materials to reagents and instruments. Currently, it offers more than 220 luminescent reagent products, including innovative projects in China such as autoimmune encephalitis (under registration); the first chemiluminescence platform testing in China for neuronal antigen spectrum antibodies, inflammatory bowel disease, bullous skin disease antibodies, and anti-myositis antibody spectrum. It also provides the most comprehensive range of ANCA-associated vasculitis, cytokines, and anti-phospholipid antibody projects on the chemiluminescence platform. Many of these distinctive projects have obtained NMPA registration certificates and are already on the market. Additionally, 433 products have received CE certification, covering detection directions such as tumors, thyroid function, sex hormones, autoimmunity, allergies, and thrombosis, comprehensively serving clinical diagnostics.

On November 30, 2023, Sichuan Light Carrying Biotechnology Co., Ltd. announced the completionNearly 100 Million RMB in Series B Financing, jointly led by 3E Bioventures Capital and OrbiMed Partners.

09‍‍‍

XIN HENG RUI‍

XIN HENG RUIEstablished in May 2021, headquartered in Shanghai, focusing onResearch and Industrialization of Innovative Medical Devices for Heart Failure, committed to providing comprehensive, safe, and effective intelligent mechanical assistive treatment solutions for heart failure patients.

XIN HENG RUI Medical adopts a multi-pronged approach, innovatively developing percutaneous ventricular assist devices, implantable ventricular assist devices, and implantable dual-heart assist devices, creating a three-in-one system to build mechanical circulatory assist devices more suitable for Chinese patients. The first product, Omniheart Percutaneous Ventricular Assist Device, within just two years, rapidly advanced from the research and development stage to the clinical stage, becoming the first of its kind successfully applied in clinical trials in China.

On July 17, 2023, XIN HENG RUI completedNearly 100 Million RMB in Series A Financing, led by IDG Capital, with co-investment from Huaige Capital and Langma Peak Capital.

10‍

MacroLux

MacroLuxFounded in October 2020, headquartered in Shenzhen, it is aSpecializedA medical technology company dedicated to innovative solutions for endoscopic interventional diagnosis and treatment.The founding team comes from leading domestic medical device enterprises in China, with more than ten years of experience in product development, global marketing, and production management of endoscopes and minimally invasive surgical instruments. MacroLux is committed to providing comprehensive endoscopic interventional diagnosis and treatment solutions covering urology, respiratory, and digestive departments worldwide through relentless innovation, enabling earlier disease detection and better patient treatment.

On February 8, 2023, MacroLux Medical announced that it had recently completedNearly 100 Million Yuan in Series A Financing, led by Legend Capital, followed by Daotong Investment.

11‍

Conmind

ConmindFounded in 2020,Focus on Excavating Innovative Interventional Treatment Products in the Fields of Cardiology, Cerebrovascular, and Pan-VascularThe company's neurointerventional product pipeline focuses on comprehensive treatment solutions for aneurysms, while its cardiac interventional products concentrate on the minimally invasive repair of mitral and tricuspid valves. Currently, the company has received NMPA approval for five neurointerventional devices, and all core products have entered the clinical stage with smooth progress.

On August 21, 2023, Conmind announced the completionNearly 100 million RMB in Series B financingThis round of financing was jointly invested by Turing Asset Management, Zhuhai High-Tech Investment, Chengdu Chuanghe Ruixin, and Guochuang Qinzhi Angel Fund.

12‍

Dentafilm Imaging

Hefei Dentafilm Medical Equipment Co., Ltd. (DentaFilm)Founded in 2019, headquartered in Hefei, Anhui, with digital oral imaging technology as the core,DentafilmFocus on the development of oral imaging equipment and a full industry chain digital service platform。

DentafilmThe independently developed technical products include dental CBCT, surgical microscopes, dental CR, intraoral 3D scanners, 3D printing equipment, periodontal electronic probes, and an oral big data application management platform, etc. Currently, these products have obtained Class II approval from provincial authorities, Class III from national authorities, as well as EU CE and US FDA certifications. The company has taken the lead in establishing a demonstration base for China's digital design and processing center for dental medical care.

On April 18, 2023, Dentafilm announced the completion ofB-round financing of 100 million yuanThis round of financing was jointly invested by Legend Capital and Xinyuan Growth Fund.

13‍

Rhino Health‍‍‍

Rhino HealthFounded in 2020, it isA technology-based ophthalmic surgical equipment manufacturer, while providing one-stop training services for surgeons, is an ophthalmic product company. Core products include phacoemulsification systems, vitrectomy surgery systems, ultrasonic vitrectomy, laser vitrectomy systems, and intraoperative OCT, etc.

On December 27, 2023, Rhino Health announced the completionNearly 100 Million Yuan in Series A Financing, this round of financing was led by Legend Capital.

14‍

Yellwin

YellwinFounded in 2021, it is aAn innovative enterprise focusing on the research and development of devices in the field of cardiac surgery and heart failure.Based on the founding team's many years of clinical experience in cardiac surgery, the company has tapped into clinical needs and developed multiple medical devices by integrating the current state of related fields. These innovations fill clinical gaps and expedite the trend of domestic substitution in high-end cardiac surgical medical devices. In 2023, Yellwin consecutively received the titles of "Zhongguancun High-tech Enterprise" and "National High-tech Enterprise."

On April 29, Yellwin announced the completionTens of Millions of Yuan in Pre-A Round FinancingOn December 28, Yellwin announced once again the completionNearly 100 Million Yuan in A+ Round FinancingThis round of financing was led by Noyou Capital, with co-investments from Zhongnan Venture Capital Fund and Qichen Holdings. Existing shareholders IDG Capital and Yuanhui Chuangyi continued to increase their investments.

15‍

MEImedical

MEImedicalFounded in February 2021, headquartered in the New District of Suzhou City,Focusing on the innovative R&D, manufacturing, and commercialization of interventional and implantable medical devices in the fields of peripheral vascular, tumor intervention, and vascular access.Suzhou MEImedical has assembled a strong China-US cross-border technical team, dedicated to achieving the domestic substitution and independent control of medical-grade implantable ePTFE. The company is also simultaneously developing a series of covered stent products with international intellectual property rights and dialysis artificial blood vessels.

On June 8, 2023, MEImedical officially announced the completionNearly 100 Million Yuan in Series A FinancingThis round of financing was led by ClearPine Capital, with participation from Lanhu Capital, Sequoia China, and Hanchi Capital.

Editor｜Zhao Qing Reviewer｜Yi He Typesetter｜Miya