Yuewei Medical Secures Nearly RMB 100 Million Series A+ Financing to Accelerate Innovation in Heart Failure Medical Devices

VCBeat exclusively learned that, recently,Yellwin (referred to as "Yellwin")Announced the completion of nearly 100 million yuan in Series A+ financing. This round of financing was led byNuoyu CapitalLeading investment,Shenzhen Zhongnan Hongyuan Investment Management Co., Ltd., Beijing Qichen Future Holding Group Co., Ltd.Follow-on Investment, Existing ShareholderIDG Capital、Yuan Hui Chuang YiContinue to increase,Zero2IPO CapitalServed as the exclusive financial advisor for this round of financing. This round of financing is also the second round quickly completed by Yellwin within a year after completing the Series A round in April 2023. At the same time, this round significantly exceeded the predetermined financing target, fully demonstrating investors' strong recognition and firm confidence in the company. With the joint support of both new and existing shareholders, the company will continue to strengthen the research and development and market promotion of its cardiac surgery and heart failure product lines.

Yellwin, founded in 2021, is an innovative enterprise dedicated to the research and development of devices in the field of cardiac surgery and heart failure. Based on the founding team's years of clinical experience in cardiac surgery, the company identifies clinical needs and, combining with the current development status of related fields, develops multiple medical devices to fill clinical gaps and accelerate the trend of domestic substitution of high-end medical devices in cardiac surgery. In 2023, Yellwin successively received the titles of "Zhongguancun High-tech Enterprise" and "National High-tech Enterprise."

In the new phase of medical device innovation and development, the leading role of scientists and clinical experts is becoming increasingly prominent. Independent innovation based on clinical needs and more efficient collaboration between medical and engineering fields are effective ways to break through the "internal competition" in the medical device industry.

Yellwin was co-founded by a team of clinical experts in cardiac surgery from Anzhen Hospital, along with senior technical experts from the domestic and international cardiovascular device industry. The team has accumulated over 20 years of clinical and product development experience in cardiac surgery and heart failure. They not only possess extensive experience in the diagnosis and treatment of heart surgery, a deep understanding of clinical pain points and patient needs, but also have profound insights into the current issues and development trends of medical devices in China's cardiovascular field, especially in coronary heart disease.

The team, starting from clinical needs, has been committed to creating products that not only meet the requirements of clinical work but also fill the market gaps in China's medical device-related fields. At the same time, the products align with national healthcare policy directions, helping to accelerate the innovation process for the domestic production of high-end medical devices in China, enabling doctors to improve clinical outcomes while reasonably controlling diagnosis and treatment costs.

Since its establishment, the company has consistently adhered to commercialization capabilities and innovation as the core of product development. In a relatively short period, it has rapidly laid out commercially viable products, giving the company the potential to quickly form a closed-loop business model. At the same time, it has balanced investment in innovative flagship products and long-term strategic planning, achieving a perfect equilibrium between rapid commercialization and innovative R&D.

Currently, the company hasNew-generation heart stabilizers, femoral artery-vein catheters, coronary angiography intelligent scoring systems, and other products are about to obtain registration certificates and enter the commercial sales phase.; In fields such as animal experiments and nursing, several short-cycle rapid commercialization projects have been laid out, enhancing the company's self-sustaining capabilities. At the same time, the company is actively increasing continuous investment in its core products, constantly building up the company’s innovation barriers.The quality control system for coronary artery bypass grafting has entered the experimental production stage, and the pulsatile left ventricular assist system has completed design finalization.This product will fill the clinical gap in China and accelerate the development of domestically produced high-end medical devices in cardiac surgery.

Yellwin's self-developed Pulsatile Percutaneous Left Ventricular Assist Device (PVAD) is developed based on the clinical pain points in severe cardiac surgery, while also meeting the treatment needs of patients with cardiogenic shock in cardiology scenarios.Yellwin's PVAD product not only has the advantages of low cost, high safety, and no need for DSA assistance like IABP products, but also addresses the issue of insufficient flow found in traditional pulsatile PVAD products such as IABP and PulseCath. The product aims to complement continuous-flow PVAD products represented by IMPELLA., providing Chinese cardiovascular physicians with a powerful, domestically innovated tool to address high-risk patients.

Dr. Wenyan Yu, Co-founder and CEO of YellwinRepresentation: In 2023, under the combined influence of healthcare anti-corruption and a capital winter, it can be said that the challenge of entrepreneurship is a shared sentiment among all startups. In order to "survive," the Yellwin team has consistently adhered to three core principles: First, leveraging over two decades of clinical work experience, they identify the "real needs" of clinicians to drive product innovation. Second, integrating the core team's decades of experience in cardiovascular device R&D, they consolidate upstream and downstream resources both domestically and internationally to accelerate the development process. Third, recognizing that even in the medical device industry "good wine also fears being in a deep alley," they draw on the market and sales teams' decades of experience in leading domestic and international companies, adapting to the new trends of healthcare anti-corruption to create a marketing model suitable for startup teams.

Professor Yang Yu, Chief Scientist of YellwinRepresentation: Under the combined influence of centralized procurement, the pandemic, and an aging population, China's cardiac surgery field is gradually showing two major trends. The first is the increasing supply-demand contradiction between hospitals' diagnostic and treatment capabilities and patients' medical needs. The second is the growing trend of patients developing more severe conditions and surgeries becoming more complex. Therefore, future innovations in cardiac surgical devices should always adhere to two core principles: how to focus on clinicians to reduce surgical difficulty, shorten the learning curve, and improve diagnostic and treatment efficiency; and how to focus on the disease itself to enhance the ability to manage critically ill and complex patients. Yellwin’s innovative cardiac surgical devices and its pulsatile left ventricular assist system are product definitions tailored to these trends, aiming to create an integrated solution for critically ill cardiac surgery patients.

Yang Zhiwen, Founding Partner of Nuoyu CapitalRepresentation: Since Johnson & Johnson acquired Impella (Abiomed) for $16.6 billion, percutaneous ventricular assist devices (PVAD) have become a highly popular field. Many companies have emerged in the market developing products based on Impella’s technical pathway. Among all PVAD players, Yellwin has adopted an entirely original design that is completely different from Impella’s. This not only bypasses the challenges faced by Impella’s technical pathway—such as motor miniaturization, overheating, and prolonged operation—but also incorporates pulsatile functionality, making the PVAD's operation more aligned with the human physiological state. This fully reflects the advantages of decades of clinical practice by senior cardiac surgery experts. Additionally, Yellwin’s left ventricular assist device demonstrates significant cost competitiveness and is expected to bring heart failure patients a high-quality, cost-effective product in the near future. Their strategic layout in cash-flow generating product lines is also highly competitive, showcasing the team’s profound understanding and insights into the industry. We believe Yellwin will continue to bring surprises to both doctors and patients.

Dr. Zhao Kai, Investment Director of Shenzhen Zhongnan Hongyuan Investment Management Co., Ltd.Representation: The development levels of cardiac surgery and cardiology in China are imbalanced, with a significant gap compared to foreign advancements. There are challenges such as the lack of tools, high costs in preoperative diagnosis, intraoperative support, and postoperative quality control. The pandemic has greatly accelerated the improvement of cardiac surgical treatment capabilities across China, with the number of surgeries and the demand for related devices showing an increasing trend in recent years, marking a turning point for the industry. With over two decades of frontline clinical experience, the Yellwin medical team is able to address the dual clinical needs of both Chinese patients and doctors; their multi-stage, diversified product portfolio can fill the gaps in domestically produced cardiothoracic surgical instruments, breaking the monopoly of expensive and unstable imported supplies, enriching the available clinical tools, while the cost advantage reduces financial pressure. We look forward to Yellwin’s products delivering value in more clinical scenarios.

Wang Jinpeng, Director and Vice President of Beijing Qichen Future Holding Group Co., Ltd.With the development of China's socio-economy, changes in lifestyle, and the acceleration of aging and urbanization, the impact of cardiovascular risk factors on residents' health has become increasingly significant, with the incidence of cardiovascular diseases continuing to rise. However, a large portion of cardiothoracic surgical devices still rely on imports, making the industry urgently need domestically produced alternatives. Yellwin is a high-tech company specializing in full-process medical devices for cardiac surgery. The core team members have years of clinical experience in cardiac surgery, deeply understand the pain points in clinical operations, and can truly develop high-end innovative medical devices centered on clinical needs. Yellwin boasts a rich product line and highly efficient commercialization of R&D results. We look forward to and believe that the R&D, implementation, and commercialization of Yellwin’s products will effectively serve the treatment and improvement of cardiovascular diseases in China.

IDG CapitalWe believe that the medical-engineering transformation, which is more aligned with clinical needs, is the general trend in the development of medical devices. This is especially true for the cardiovascular industry that we are optimistic about. Yellwin has effectively seized this trend and implemented it with strong team execution, achieving transformation. In the current challenging environment, the ability to successfully advance product development, expand product lines, build a strong team, and secure financing is the best demonstration of Yellwin's management and overall capabilities.

Zhang Fan, Founder and Managing Partner of Yuanhui ChuangyiYellwin, with its "medical-engineering integration" founding team rooted in clinical diagnosis and treatment practices in the cardiovascular field, especially in coronary heart disease, has achieved innovative and significant progress in the development of multiple products after relentless efforts, particularly with sustained heavy investment in surgical device R&D within this field. These products include the Left Ventricular Assist Device (LVAD), vascular anastomosis quality control system (vascular flowmeter), a new generation of cardiac stabilizers, and high-end femoral arteriovenous cannulas, some of which have entered the medical device registration certification application phase. We look forward to the team's continued efforts to further refine and improve the high-end medical device product pipeline in the cardiovascular field, continuously launching upgraded products that can be practically applied in clinical diagnosis and treatment to truly address pain points, and achieving substantial market progress. We are delighted to once again increase our investment, providing long-term company support and helping it achieve new breakthroughs, using high technology to solve real-world problems and benefiting humanity.

Sun Zengping, Partner of Beijing Zero2ipo Investment Management Co., Ltd.It indicates that: In a harsh winter environment, the company rapidly completed two rounds of financing within a year and exceeded its goals, fully demonstrating the company's strength and showcasing investors' confidence in it. The large population of heart failure patients urgently needs innovative medical devices produced in China. The Yellwin team has a deep understanding of clinical needs, efficiently integrates medical and engineering expertise, and has made rapid progress in product development. The future holds great promise for Yellwin.

Nuoyu Capital, an early-stage venture capital fund founded by investors with extensive experience in the healthcare industry, has long been deeply engaged in the fields of medical devices and digital health. Focusing on early investment opportunities, it is committed to taking a long-term perspective in identifying entrepreneurs who can truly solve healthcare challenges.

The core members of Nuoyu Capital's investment team have over 10 years of experience in the healthcare industry, with profound knowledge of medical diagnostic technologies and a deep understanding of business operation models. They provide early-stage startups with essential growth support in project evaluation and post-investment empowerment. The firm has achieved comprehensive coverage across various sectors within the medical device and digital health industries, including brain science, cardiovascular and cerebrovascular fields, surgical robotics, and medical AI. Key investment projects include: Huihe Medical, Changmugu, VIVEX, Tingsheng Technology, Stronglink Intelligence, and Huaboron Neutron.

Shenzhen Zhongnan Hongyuan Investment Management Co., Ltd. was founded in 2008, managing multiple RMB and USD venture capital funds. It focuses deeply on innovative technology fields such as pharmaceuticals and healthcare, semiconductors, and artificial intelligence at the startup and growth stages. With the mission of "Empowering technology through capital, and benefiting humanity through technology," it adopts the investment strategy of "Tackling difficult yet valuable endeavors." Driven by innovation and guided by scientific and commercial insights, it discovers and supports leading technology companies with rapid development potential on a global scale.

Beijing Qichen Future Holding Group Co., Ltd. is an investment holding group that integrates private equity funds, financial investments, and industrial operations. Its businesses cover private equity funds, operation and management services for physical industries, strategic investments, and financial investments, with a focus on investing in innovative technology enterprises in areas such as vocational education, medical and pharmaceuticals, artificial intelligence, and new energy. Since its establishment, the company has continuously innovated its development model, explored investment pathways, expanded its business layout, and steadily increased its scale. With excellent investment and operational management capabilities, Beijing Qichen Future Holding Group Co., Ltd. has gained recognition from local governments, invested enterprises, investors, and all sectors of society. In the future, the company will continue to adhere to the concept of finance serving the real economy, adopt a development path that balances capital operations with industrial growth, combines mergers and acquisitions with organic expansion, achieve coordinated development between capital and invested projects, balance economic benefits with social benefits, and become an investment holding group dedicated to serving society and promoting sustainable development.

IDG Capital pioneered venture capital investment in China in 1993, making it the oldest private equity investment firm in China and one of the largest private equity fund managers in terms of assets under management. Over the years, IDG Capital has consistently paid close attention to developments in the healthcare sector. In the past five years alone, IDG Capital has invested in approximately 70 projects within the medical field, focusing on sub-sectors such as biopharmaceuticals, medical devices and diagnostics, artificial intelligence, while also exploring opportunities driven by policy changes in innovative healthcare models.

Founded in 2010, it seeks and accompanies entrepreneurs with aspirations and innovative enterprises with hard-core technologies from a long-term perspective to grow together. It influences enterprises to take social responsibilities based on the two fundamental concepts of "Business for Good" and "Technology Benefits Humanity." Through innovative redistribution of commercial profits, it continuously empowers modern educational philanthropy. Focused on investing in hard-core technologies, it primarily invests in upstream industries of life sciences (medical devices/equipment, biological reagents, biomaterials, etc.) and front-end ICT industries (semiconductors, core components, materials, and basic software), with some attention to technology projects in new energy and intelligent manufacturing.

Zero2IPO Capital, a subsidiary of Zero2IPO Group (1945.HK), was founded in 2000 and is a professional new-type boutique investment bank in China. It focuses on serving innovative companies in the high-growth new economy sector. It has successfully assisted companies and investment institutions in completing hundreds of private equity financing, mergers and acquisitions, IPOs, PIPE, and delisting transactions, covering all stages of corporate development. We are committed to providing entrepreneurs and business leaders with professional and efficient financing solutions to help them achieve greater commercial success. Zero2IPO Capital primarily serves the following sectors: healthcare, advanced manufacturing, artificial intelligence, and enterprise services.