Trulive Medical Completes New Round of Financing Exceeding RMB 100 Million to Accelerate Development of Its Cardiovascular Interventional Platform

Recently, Jiangsu Trulive Medtech Co., Ltd. (hereinafter referred to as Trulive) announced that it has successfully completed a new round of financing exceeding RMB 100 million. This round of financing was jointly invested by StarEdge Capital, Anhui Life Health Fund, and existing shareholder Xiamen C&D Emerging Investment. Huaxing Capital served as the exclusive financial advisor. The successful completion of this round of financing demonstrates the high recognition and strong confidence of the investment institutions in Trulive's platform-based layout and forward-looking business planning in the cardiovascular intervention field, as well as their solid confidence in the company’s future development.

As the only cardiovascular interventional platform company in China that specializes in addressing blood flow issues, Trulive has rapidly risen to prominence as a "dark horse" in the field of cardiovascular interventional treatment just four years after its establishment, drawing widespread attention from the industry. The company’s one-stop toolbox for cardiovascular treatment offers solutions to various blood flow problems, including valve management — treating valvular heart disease to regulate proper blood flow; dredging — treating vascular stenosis or occlusion to ensure smooth blood circulation; and shunting — intervening in heart failure to alleviate pathological high pressure. Currently, the toolbox has achieved significant progress, with six core products having been launched and gradually completing clinical enrollment. The entire product pipeline is at the forefront in China, and the performance and progress of some products can rival those of international giants. In addition, several pioneering products with unique features, described as “the only one in China” or “the first in China,” are set to further expand Trulive's comprehensive cardiovascular treatment toolbox.

Trulive always regards independent innovation as the engine of sustainable development. The company has a strong R&D team with more than 120 technical personnel. The core technical leaders have successfully accumulated experience in the design and clinical implementation of multiple product developments, possessing rich practical experience and formidable R&D capabilities.

Relying on the team's high-quality R&D innovation capabilities and efficient organizational execution, the company has built five major technology platforms: a delivery design platform, a metal processing platform, an animal-derived materials platform, a polymer materials platform, and an energy platform. These have yielded abundant R&D achievements. In the core critical areas of cardiovascular interventional treatment, Trulive Medtech has overcome several advanced "bottleneck" technologies. Multiple products have passed the special review process for innovative medical devices, and numerous projects have successfully applied for key national special topics under China’s "14th Five-Year Plan." The company has become one of the few R&D and innovation-driven enterprises in China that masters multiple core technologies in cardiovascular intervention with independent and controllable upstream technologies, successfully establishing a fully localized supply chain system.

Relying on its core technology platform, Trulive has built a multi-tiered and multi-dimensional cardiovascular intervention product pipeline covering several highly promising markets in the fields of valves, peripherals, coronary arteries, and heart failure. The pipeline is widely laid out and features strong scalability. On one hand, the company is advancing its cash-flow pipeline represented by mitral valve repair and shockwave balloon, rapidly achieving domestic substitution with unique product performance and cost advantages to expand market value space and directly face commercial competition. On the other hand, based on an innovative model combining medical and engineering expertise, it is developing first-of-its-kind products in China such as mitral valve replacement and tricuspid valve repair and replacement, further solidifying the company's core competitiveness. Additionally, the company is focusing on exploring and laying out multiple forward-looking innovative projects such as shockwave valves and polymer valves, accumulating momentum for future development. From short-term to mid-term to long-term, Trulive’s R&D planning progresses in layers with a clear matrix, building a unique innovation ecosystem in the field of cardiovascular interventional therapy and establishing a strong foundation for sustainable development.

Product strength and market strength are the two core drivers of Trulive's positive cycle development. In terms of product strength, Trulive has several high-quality products that break technological monopolies and fill domestic gaps in China: the first domestically produced tricuspid valve edge-to-edge repair system to enter large-scale clinical trials in China, the world’s first balloon-expandable dry valve transcatheter aortic valve system to initiate large-scale registration clinical trials in China, and the first domestically produced apical anchoring mitral valve interventional system in China. All products have undergone dozens of iterative optimizations to maximize performance, providing doctors with more flexible clinical operations, expanding the range of indications for patients, and saving more lives. In terms of market strength, Trulive has been committed to making cutting-edge, high-end cardiovascular interventional technologies accessible to ordinary Chinese patient families. To achieve this, the company has continuously tackled key processes, further optimized cost structures, and built a fully localized supply chain system in China. Products such as the transcatheter mitral valve repair system and shockwave balloon have significantly optimized costs while ensuring quality, further lowering price thresholds, expanding product value space, enabling better commercialization, and allowing the company to more confidently face diverse and multifaceted competitive landscapes.

Driven by the dual engines of product strength and market power, Trulive's medical products will undoubtedly create a significant market impact upon their future launch, benefiting more patients and continuously enhancing their commercial value.

Accurate grasp of the cardiovascular interventional treatment field and forward-looking judgment of market development trends have enabled Trulive to rise rapidly, achieving remarkable progress in the high-end cardiovascular intervention sector. After the completion of this round of financing, Trulive will continue to strengthen the clinical registration and commercialization preparation of innovative cardiovascular products, adhering to the corporate values and mission of striving for excellence and upholding significant responsibility. The company will vigorously promote the domestic production of high-end medical devices, allowing more doctors and patients to benefit from domestically produced advanced interventional medical devices.

Mr. Wen Jing, Chairman of TruliveStated: The success of this round of financing will elevate Trulive to a new stage of development. We are extremely grateful for the continuous trust and support from all investors. Currently, whether in research and development or clinical progress, Trulive is in a phase of rapid growth. Six core products are advancing steadily in clinical trials, with several additional products soon to enter clinical stages. The successful financing will further accelerate the R&D progress of Trulive's core products and expedite their commercialization. In the future, Trulive will live up to expectations by continuing to focus on unmet market needs in the field of cardiovascular interventional therapy. The company will develop innovative, safer, more effective, and affordable high-end medical device products, providing better protection for the health of more cardiovascular patients.

Mr. Sun Xiaolu, Founding Partner of Proxima VenturesCardiovascular disease is the world's leading cause of death, with a vast patient population, and has always been a focus for Proxima. Continuous innovation is essential. The Trulive team is highly energetic and executes with great strength, covering areas such as valves, heart failure, and peripherals. Starting from foundational technology research and development, they continuously refine their work with doctors, launching a series of products and introducing multiple innovations. Currently, several of the company’s products are in clinical use, gaining high recognition and progressing rapidly. We believe that Trulive can bring new momentum to the development of cardiovascular interventional treatment and offer more hope to cardiovascular patients in China.

Anhui Life Health FundRemarks: The vigorous development of China's high-end medical devices cannot be achieved without the joint efforts of all parties. At present, China's high-end medical devices are entering a new era of rapid development, and all of this is inseparable from innovation at the source. Trulive has a strong research and development team with powerful innovative R&D capabilities. From them, we see a bright future for cardiovascular interventional treatment in China. We also hope to contribute to the high-quality development of Trulive and China's medical devices.

C&D Emerging InvestmentTrulive focuses on structural heart disease and vascular disease areas related to aging, with a large patient base, high mortality and disability rates, and still in the blank/start-up stage in China. It is a platform-based device company with significant market potential, a rich product pipeline, and high scientific innovation attributes. Since the first investment in the company in 2021, the team has efficiently advanced the R&D and clinical trials of multiple products. Currently, several products are leading in progress and possess differentiated competitive advantages. We are optimistic about the company's layout and development in the field of structural heart disease and vascular interventional therapy. By continuously increasing investment, we aim to help the team achieve product commercialization as soon as possible for the benefit of a wide range of patients. We look forward to Trulive growing into an influential and outstanding enterprise within the industry.

Proxima Ventures manages both RMB funds and USD funds. The funds focus on serving outstanding medical technology innovation companies with tremendous growth potential, currently investing in and supporting around 50 globally pioneering products. The funds have been building a healthcare innovation technology startup ecosystem to make entrepreneurship easier, faster, and more successful. Proxima Ventures supports entrepreneurs with grand vision, focusing on long-term goals, committing to value creation, working side by side, and developing enterprises into great companies with strong competitiveness and continuous innovation capabilities, creating significant clinical value for society over the long term.

The total scale of Anhui Province's Life Health Fund is 500 million yuan. It was jointly initiated and established by the fund management company under Ancheng Capital and the fund, together with Anhui Emerging Industries Development Fund Co., Ltd. and Mengcheng County Development Zone Xingmeng Investment Co., Ltd. As one of the sub-funds in the fund cluster that Anhui Province is building during the "14th Five-Year Plan" period to create a source of scientific and technological innovation, an emerging industry cluster, and a new highland of reform and opening up, it will focus on investing in modern pharmaceuticals, modern Chinese medicine, medical devices, modern healthcare, health and elderly care, health food and health products, health tourism, health education, and sports.

C&D Emerging Investment, established in 2014, is a professional equity asset management institution under the "Fortune Global 500" company Xiamen C&D Group. With the mission of "creating new value and helping more emerging enterprises achieve better development," the company focuses on new economic sectors such as healthcare, advanced manufacturing, TMT/consumer goods.