Chinese Innovative MedTech Firm Yixin Medical Completes Nearly $100M Series C Round Ahead of IPO Filing

Sep 28, 2023 17:23 CST Updated 17:23

MitrAssist Lifesciences

Cardiovascular Innovative Medical Device R&D Manufacturer

Instrument Family

Medical Device Media Reporting Pioneer

Share Professional Medical Device Knowledge

Source:Hefei Industrial Investment Capital, MitrAssist Lifesciences

On September 1, MitrAssist Lifesciences, an invisible unicorn enterprise in the field of cardiovascular innovative medical devicesMitrAssist Lifesciences Limited (referred to as "MitrAssist Lifesciences") announced the completion of nearly 100 million US dollars in Series C financing.

The funds raised in this round willTo assist in the registration clinical trials and market access work for the company’s globally leading transcatheter mitral valve replacement products and polymer-based transcatheter aortic valve replacement products (Polymer TAVR), and to complete the pre-registration clinical research for other polymer valve series products in the pipeline.Research work;Promote the market sales of non-invasive heart failure monitoring devices and coronary drug balloons; continuously improve the product portfolio; expand the production capacity of existing products; promote the application and promotion of products both in China and internationally, further accelerating industrialization and scaling.

Figure: MitrAssist Lifesciences employee at work

Series C financing was jointly led by existing shareholders Centurium Capital and WuXi Healthcare Ventures.Shanghai Jiading District State-Owned Assets Management (Group) Co., Ltd., Hefei Haiheng Capital Management Co., Ltd., Hefei Industrial Investment Capital, Anhui Anyuan Investment Fund Management Co., Ltd., and Binhu Scientific City followed up with investments.Jointly Promote Innovation in the Cardiovascular Field of MitrAssist LifesciencesDevelopment and Industrialization of Vascular Products.

Ms. Wang Li, Chairwoman of MitrAssist LifesciencesSaid: "The investment by top-tier investment institutions in MitrAssist Lifesciences indicates the market's high recognition and support for the company. MitrAssist Lifesciences Group will continue to always adhere to..."MitrAssist Lifesciences: Guided by the Heart, Illuminated by Global Expertise, Healing Hearts Worldwide"The core values, unite and forge ahead, aim to build the company into a leading cardiovascular platform company in China and even globally, making greater contributions to the development of the innovative medical device industry and regional development."

The First Batch Worldwide

MitrAssist Lifesciences

MitrAssist Lifesciences is one of the world's first companies to develop a mitral valve interventional replacement system and a leading global provider of cardiovascular interventional product solutions.This round of financing will mainly support the clinical development of MitrAssist Lifesciences' mitral valve replacement product and aortic polymer valve product. The clinical advancement of multiple core products will mark the comprehensive promotion of MitrAssist Lifesciences' pipeline in the field of cardiovascular innovative medical devices, which will largely address the pain points in the structural heart field for patients in China in the future.

Photo shows the MitrAssist Lifesciences booth at the China International Medical Device Expo.

July 6, 2022MitrAssist Lifesciences' self-developed global first polymer valve Polymer TAVR product successfully completed the world's first clinical implantation at Zhongshan Hospital Affiliated to Fudan University in Shanghai by the team led by Academician Ge Junbo.Marks the entry of interventional treatment for valvular heart disease into a new polymer era. The project also won the highest award, "Outstanding Prize," in the 2022 National Disruptive Technology Innovation Competition organized by the Ministry of Science and Technology.

MitrAssist Lifesciences Innovation and Development

In addition, Mitrafix®, the first transapical mitral valve interventional replacement product independently developed by MitrAssist Lifesciences in China, has entered the special review process for innovative medical devices by the National Medical Products Administration.MitrAssist Lifesciences' non-invasive heart failure management device ReDS™ Pro, after launching in the U.S., Europe, India, and Japan, has been approved for marketing in China this year.

On September 22 this year, MitrAssist Lifesciences signed a cooperation agreement with Hefei City. The project signed this time is the industrialization of MitrAssist Lifesciences' cardiovascular products and high-value consumables research and development.Total investment is approximately 2 billion yuan, mainly for the research, development, production, and commercialization of products such as non-invasive heart failure and lung water monitoring, drug-coated balloons, and structural heart solutions.

Innovative medical devices are a key investment area for Hefei Industrial Investment Group and Industrial Investment Capital, with MitrAssist Lifesciences being a landmark investment case jointly attracted and invested by Industrial Investment Capital and the county district.In the future, Hefei Industrial Investment Capital will continue to fulfill the mission of a state-owned investment platform, support the high-quality development of Anhui Province's and Hefei City’s innovative medical device industry, and fully build an innovative medical device industrial cluster and innovation system.

END

Bill Gates Invests, Surgical Robotics Company to Delist

Chairman Banned for 10 Years! Listed Company Fined 85.7 Million Yuan

5T MRI: Unveiling the Unseen, Unlocking New Scenarios for Whole-Body MRI

Integration: Leading Imaging Companies Continuously Drive the "Digital and Intelligent" Development in Healthcare

Medical-Engineering Collaboration: Huashivision Partners with Beihang University to Build an Ophthalmic Medical Engineering and Precision Diagnosis and Treatment Laboratory

China's Leading AI Imaging Company Collaborates with Global Imaging Giants

Global Top 10 in Interventional Devices, Major Expansion in Production Capacity

438 Billion: GE Healthcare Makes a Big Move

Two Major Imaging Giants Join Hands to Invest in a New Field

BusinessBusiness cooperation email: qxzj@landianyiliao.com