Venus MedTech and DeJin Medical Enter into Exclusive Strategic Marketing Collaboration to Accelerate Adoption of Heart Valve Disease Therapies in China

The Board of Directors (the "Board") of Venus Medtech (Hangzhou) Inc. is pleased to announce that our company and Valgen Medtech Co., Ltd. ("Valgen Medtech") jointly announced on November 22, 2023 regardingValgen Medtech's DragonFly™ Transcatheter Mitral Valve Clip System (DF) has reached an exclusive strategic marketing cooperation intention.

After DF is approved to enter the market, both parties will carry out in-depth commercial cooperation. Valgen Medtech will take full advantage of Venus Medtech's well-established market sales network covering nearly 500 tertiary hospitals, comprehensive market access channels, and a robust clinical technology training system to engage in exclusive commercial collaboration. This marks that after successfully promoting the application of TAVR procedures in China, Venus Medtech will now further promote the more clinically demanding and technically complex transcatheter mitral valve edge-to-edge repair technology via femoral vein in China.Both parties will work together and are confident that this collaboration will accelerate the development of China's heart valve disease diagnosis and treatment, laying a solid foundation for building a comprehensive structural heart disease diagnosis and treatment platform in the future.

Reviewing the development of TAVR, from the first imported TAVR implantation in China in 2010 to the commercial approval of the first domestically produced TAVR in 2017, there were less than 8,000 commercial implants throughout 2022, with a cumulative total of fewer than 20,000 commercial implants to date. TAVR is a field led by China's innovative technology, which must move away from the zero-sum game mindset of traditional import substitution. As a leading enterprise in China’s minimally invasive interventional cardiac valve field, Venus Medtech is more focused on market cultivation and expansion. Based on this strategic marketing cooperation intention, both parties will work together with common goals and expectations to address the challenges faced in promoting innovative technologies and popularize China’s cardiac valve disease treatment technology.

Currently, Venus Medtech has cumulatively completed over 15,000 implants. Through this collaboration, Valgen Medtech will leverage Venus Medtech's resource accumulation and marketing experience in TAVR to explore more innovative value-added services, further accelerate the expansion of the mitral valve market, lead the mitral valve treatment field, and benefit more patients in China.

The board of directors looks forward to the two parties carrying out marketing strategic cooperation, fully playing to their respective business advantages, and leveraging strong commercialization capabilities to accelerate the commercialization process of DF, continuously enhancing the core competitiveness of Venus Medtech, and further increasing market share.

*The content disclosed in this article does not guarantee any forward-looking statements regarding the business development of the Group, or that any matters will be achieved, will actually occur, will be realized, or are complete. As of the date of publication of this article, the DF system mentioned herein has not yet obtained a medical device registration certificate issued by the National Medical Products Administration of the People's Republic of China.

*Our company does not make any promises or guarantees regarding the performance or clinical outcomes of any medical devices mentioned in this article.

*Venus Medtech, VENUSMEDTECH, and the designed graphic "启" are trademarks under Venus Medtech (Hangzhou) Inc.

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