Zhejiang Barty Medical Technology Co., Ltd. ("Barty Medical" for short) has recently completed a nearly RMB100-million C1 financing round, led by Huarui Investment with continued investment from existing shareholder Sanze Venture Capital. The proceeds will mainly be used by Barty Medical to advance clinical registration and commercialization of its globally leading series of innovative constrained balloon products. Meanwhile, the company has initiated the C2 financing round, aiming to further expand its large-scale manufacturing capabilities to accommodate the rapid growth of future products and revenue, comprehensively enhancing the company's overall advantages as a high-performance vascular interventional device platform enterprise.
Barty Medical, established in August 2015 and headquartered in Hangzhou Biomedical Port, China, is a national high-tech enterprise and a Zhejiang Province "specialized, refined, distinctive, and innovative" small and medium-sized enterprise dedicated to the research, development, manufacturing, and operation of devices in the vascular interventional field. As the corporate research institute of Zhejiang Province for high-performance vascular interventional devices, the company has accumulated and mastered leading interventional device technologies in China, developed several innovative products with global leadership, and participated in various provincial and ministerial-level projects, including Zhejiang Province's key R&D program, selected projects under the same program, and the first batch of the Ministry of Industry and Information Technology / National Medical Products Administration’s innovation mission for biomedical materials.
The Market Potential for Cardiovascular Diseases is Huge with a Clear Growth Trend
FollowWith the acceleration of population aging, the increase in the proportion of risk factors such as hypertension/obesity, and the prominence of unhealthy lifestyles under urbanization, the incidence of vascular diseases and the volume of surgeries are rising, leading to a growing demand for...Vascular Interventional Medical DevicesThe strong demand.Compared with developed countries in Europe and the United States, China's vascular intervention industry is characterized by a late start, large existing demand, and high growth. According to the "Report on Cardiovascular Health and Diseases in China 2022" and Frost & Sullivan research, the number of existing patients with vascular diseases such as coronary, peripheral, and neurology in China reached 71.61 million in 2022. In contrast, the number of vascular intervention surgeries in 2021 was approximately 2 million, with a surgical penetration rate of less than 3%, indicating significant market growth potential.Based on Lean Manufacturing, Strategic Cooperation with International Giants
Since its establishment, Barty Medical has always adhered to the dual drivers of lean manufacturing and continuous innovation, focusing on providing minimally invasive interventional solutions for cardiovascular diseases.The founder of the company, Mr. Yan Yuqiang, and the core team members all have senior industry backgrounds and rich experience.Vascular Interventional ConsumablesR&D and manufacturing experience. Relying on solid precision catheter/balloon manufacturing technology, the company has gradually built up the clinical reputation and market share of disposable catheter sheath sets, regular/high-pressure balloons, and other vascular interventional consumables. Notably,The peripheral vascular catheter sheath group of the company has achieved the first market share among domestic manufacturers in China and is gradually realizing the substitution of imported products with domestically produced ones.。
Barty Medical Peripheral Intervention Product Portfolio
Barty Medical Coronary Intervention Product PortfolioThe company's product quality and manufacturing system have also been recognized by international medical device giants. In November 2023,Global Hemodialysis Giant Baxter Medical Officially Signs Hemodialysis Access Strategic Cooperation Agreement with the Company During the Sixth China International Import ExpoBarty Medical's existing products, such as high-pressure balloons and disposable catheter sheath sets, along with several innovative products that will be launched in the future, can effectively be used for the maintenance of hemodialysis access in hemodialysis patients. This collaboration will leverage Baxter Healthcare’s extensive experience and resources in the hemodialysis field, promoting Barty Medical's high-quality device products and therapies, jointly safeguarding the lifeline of hemodialysis for nearly a million hemodialysis access patients in China.
Barty Medical and Baxter Healthcare Strategic SigningContinuous Innovation as the Core, Developing a Product Portfolio with International Competitiveness
Building on lean manufacturing, Barty Medical adheres to independent innovation and high-intensity R&D investment. It has independently developed world-leading core technologies such as constrained shape-memory metal alloy design and processing technology, and drug-coating technology without excipients, among others.Three products have been granted special review under the National Innovative Medical Device Program.。
The company's first innovative product—Fengtai®Flowty®Drug-Coated Balloon Catheter with Adjuvant-Free Nanospiked Coating for Coronary Artery Launched in May 2021. As the currentThe only national innovative medical device product with a drug coating and no excipients among similar products already on the market.Since its listing, it has continuously increased its market share due to its excellent clinical advantages. In December 2023, the first product from the company's constrained balloon technology platform—Matrix Super™Peripheral Constrained Balloon震撼上市. The product isChina's First Domestically Produced Peripheral Constrained Balloon Product, which can achieve uniform and controllable vascular dilation during the vascular preparation and pre-dilation stages, effectively reducing vascular elastic recoil and avoiding uncontrollable tears and flow-limiting dissections, providing doctors and patients with a vascular dilation device that has more clinical advantages. Matrix Super, independently developed by Barty Medical,™The first domestically produced constraining balloon in China, which took into account localized clinical needs such as Chinese patients' late hospital visits and longer vascular lesions from the initial stages of design and development, thusThe product specifications and models are more comprehensive, being the only similar product that can provide lengths of 150mm and 200mm, better meeting the treatment needs of Chinese patients.。
Matrix Super TM Peripheral Constrained Balloon Product FeaturesIn the upcoming 2024, two other national innovative medical device products under the company's constrained balloon technology platform will also achieve milestone breakthrough progress.The peripherally constrained drug-coated balloon has completed clinical trials and submitted registration, and is expected to become the world's second and China's first approved constrained drug-coated balloon within 2024.. Another modelCoronary Constrained Drug-Coated Balloon, as the world's first "intervention without implant" drug-device combination product designed for in-situ lesions of large coronary vessels., has completed the world's first human clinical trial (FIM trial) and will launch a registration clinical trial in 2024. The research and development journey of these two constrained drug-coated balloons is the best interpretation of Barty Medical's evolution from "incremental innovation where others have products but we improve them" to "pioneering innovation where others have nothing and we create it."
Image of Peripheral Constrained Drug-Coated Balloon
Image of Coronary Constrained Drug-Coated BalloonGlobal Competition Anticipated, International Market Emerges
Barty Medical's vision is to become an international enterprise with continuous innovation capabilities, intelligent manufacturing capabilities, and professional service capabilities in the healthcare field. To further realize this vision, the company, on one hand, maintains an open mindset and actively introduces core team members with extensive industry experience and international perspectives. For example, in 2022, the company invited Mr. Hu Chao, former head of sales operations for Greater China at Edwards Medical, to serve as the general manager. Mr. Hu Chao has nearly 10 years of clinical experience in cardiothoracic surgery and over 20 years of experience in promoting cardiovascular interventional technologies and marketing management. His joining has enhanced the company’s operational capabilities and international outlook. On the other hand, the company is actively expanding overseas, with products exported to more than 20 countries and regions, achieving tens of millions in overseas sales. In the future, the company will further strengthen its development and cooperation in international markets, and is currently actively targeting potential markets such as the United States, Japan, Southeast Asia, and "Belt and Road" countries.
Mr. Yan Yuqiang, Founder/Chairman of Barty Medical, stated:"Thanks to the recognition and support from both new and existing shareholders for Barty Medical's original entrepreneurial vision and mission. Since its establishment, the company has been deeply engaged in the field of vascular intervention. With a solid manufacturing system and unique innovative technologies, it is gradually evolving into a platform-oriented enterprise for vascular interventional medical devices. After eight years of entrepreneurship, in the next eight years, Barty Medical will remain true to its founding mission, further explore its accumulated expertise in passive device materials and technologies, and actively expand into the active medical device sector. The goal is to provide better products for doctors and patients worldwide, allowing medical technology to illuminate life."Huarui InvestmentThe biopharmaceutical team stated:"Cardiovascular diseases are one of the biggest risk factors threatening the health of Chinese people. Minimally invasive interventional surgeries have short operation times, low invasiveness, minimal trauma, and fast postoperative recovery. In recent years, minimally invasive interventional devices have been widely used in various types of vascular disease interventions, making it a track with clear clinical needs, rapid growth, and huge market potential. Barty Medical practices the leading 'intervention without implant' concept, relying on platform-based technologies accumulated over many years. Starting from clinical needs, they have built a gradient progressive interventional product matrix, providing complete and innovative solutions in coronary and peripheral interventions. Over the past three years, the team has focused on refining product performance and accumulating extensive sales channels; their core products have gained widespread clinical recognition, achieving nearly 200% compound sales growth. We believe that under the efforts of Barty Medical's professional and down-to-earth core team, the company will comprehensively enhance its advantages as a high-performance vascular interventional device platform enterprise, create more innovative products suitable for Chinese people, and quickly promote them to clinical applications, benefiting patients."Zeng Wenbing, founding partner of Sanze Venture Capital, said:"Since the A-round, Sanza Ventures has continuously invested in Barty Medical. We are optimistic about the company's team, which, based on a deep understanding of clinical needs, has consistently developed multiple outstanding products. This has enabled the company’s products to upgrade from single-function to multi-function and extend from passive to active applications. The company's rich portfolio of innovative products and excellent product quality have not only gained high recognition from major hospitals in China, better benefiting patients, but also attracted the attention of international giants, paving the way for broader markets. Sanza Ventures will continue to support Barty Medical in its development into a globally leading interventional innovation platform enterprise."Huairui Investment, established in 2002, is one of the earliest private venture capital investment institutions in China. Over the past two decades, Huairui Investment has firmly believed that industry is the mother of wealth, adhered to an industry chain investment strategy, and persisted in an "investment + service" model. It faithfully fulfills its mission of venture capital investment by focusing on early-stage, small-scale, and technology-driven investments. Continuously seeking uniqueness, the firm places significant emphasis on hard technology sectors such as electronic information (including integrated circuits), energy technology, material technology, advanced equipment, biomedicine, and more. Rooted in Zhejiang, it deeply cultivates the Yangtze River Delta region. Huairui Investment manages more than 50 venture capital funds, with cumulative investments exceeding 15 billion yuan. Over 30 of its portfolio companies have gone public through IPOs, while more than 20 others have achieved public listing via mergers and acquisitions. The firm strategically invested in Huqingyutang, aiming to build a leading enterprise in the new traditional Chinese medicine industry. Meanwhile, Huairui Investment closely monitors regional economic transformation and upgrading, using funds to boost local economic investment attraction and actively implementing a plan to cultivate future industrial stars in regional economies. Huairui Investment has consistently been recognized for many years, including being ranked among the Top 50 Best Venture Capital Institutions in China by CVSource (ranked 28th), Zero2IPO (ranked 31st), and China Financing (ranked 31st), as well as being named one of the Top 10 Hard Technology Investment Institutions of STAR Market 2023.About Sanza Venture Capital:Sanze Venture Capital was established in 2008 and is a council member of the Venture Capital Professional Committee of the China Investment Association, a council member of the All-China Federation of Industry and Commerce Pharmaceutical Chamber of Commerce, and a vice chairman unit of the Guangdong Venture Capital Promotion Association and the Hunan Equity Investment Association. The company focuses on investing in forward-looking industrial fields such as healthcare, clean environment, and technological innovation, covering multiple stages including startups, growth, and development phases. It has built a complete investment operation management ecosystem and has been rated as one of the top 50 best venture capital funds in China, one of the top 30 best investment institutions in China's healthcare sector, and one of the top 10 most influential private equity firms in Hunan.Source of the article: PharmaCube
Disclaimer: This article is intended solely for the purpose of information transmission and is for reference only. It does not constitute any advice on investment or treatment; please evaluate carefully. If it involves issues related to the content, copyright, or other aspects of the work, to protect the rights and interests of both parties, please contact us and we will handle it immediately. If this article is reprinted by other platforms, the platform must take responsibility for the article itself. The Medical Device Innovation Network is not responsible for any secondary dissemination caused by reprinting.
P/R/E/V/I/E/W
