Leading Artificial Heart Company Core Medical Secures Hundreds of Millions in Series C Funding Led by Beihang Investment

Recently, Shenzhen Core Medical Technology Co., Ltd. ("Core Medical" for short) has raised hundreds of millions of yuan in its Series C financing round from Beihang Investment Co., Ltd., Hillhouse Ventures, Yuanheng Lizhen Capital, Cornerstone Capital, and other institutions. This round of financing will mainly be used to accelerate the R&D, clinical trials, and commercialization layout of its product lines, as well as to build an innovative active implantable platform.

Wang Jianfei, General Manager of Beihang Investment Co., Ltd.

"Artificial hearts have broad application prospects. Core Medical has adhered to independent innovation and深耕 (deeply cultivated) the artificial heart field for over a decade, ultimately breaking international technological monopolies, filling domestic gaps, and creating a 'Chinese Heart' to bring hope to more patients. Beihang Investment Co., Ltd. focuses on the intersection of medical and engineering fields, building a full-chain scientific and technological innovation ecosystem, seeking scientific entrepreneurs, and empowering the growth of startups."

Chen Hongying, Vice General Manager of Beihang Investment Co., Ltd.

"The artificial heart industry is still in its infancy, with complex product development and high precision requirements. Core Medical has overcome multiple technical challenges in research and development, aiming to bring new hope to tens of millions of heart failure patients. Supporting hard-tech startups with persistent efforts, Beihang Investment Co., Ltd. will help accelerate the industrialization process of Core Medical."

For a long time, heart transplantation has been the most effective treatment for end-stage heart failure. However, due to the scarcity of donors, in recent years, people have begun to turn their attention to "life-extending machines" — artificial hearts. As the most complex and sophisticated medical device, the artificial heart is known as "the jewel in the crown of medical devices."

Core Medical was founded in August 2016, with its headquarters located in Zhigu Park, Nanshan, Shenzhen. Based in the Greater Bay Area and facing the world, it is a national high-tech enterprise dedicated to the research, development, and production of high-end innovative medical devices such as mechanical circulatory assist devices. As a global technology leader, the company has applied for nearly 200 patents both domestically and internationally. Its strong overall independent R&D capabilities have made its innovative achievements in the artificial heart field highly favored by the capital market. Since 2019, the company has successfully completed three rounds of financing over three consecutive years, demonstrating steady growth momentum.

Core Medical was founded by top technical experts and returned scholars who have been深耕ing in the artificial heart field for more than ten years, with research and development spanning mechanical, biomedical engineering and other specialties.

In the miniaturization of artificial hearts, Core Medical has brought a new generation of ultra-small fully magnetically levitated artificial hearts to the industry; at the same time, based on the implanted artificial heart technology platform and its own proprietary miniature motor technology, it has broken international technological monopolies and developed a new generation of interventional artificial heart series products, filling the gap in China; becoming the only company in the world currently to achieve comprehensive deployment in the field of implantable and interventional artificial hearts.

The team independently developed the Corheart 6 Implantable Left Ventricular Assist System, which provides mechanical support for blood circulation in patients with advanced refractory left heart failure, including bridging therapy before heart transplantation or for cardiac function recovery.

Corheart 6 Implantable Left Ventricular Assist System has a pump diameter of 34 millimeters, thickness of 26 millimeters, and a weight of approximately 90 grams. Compared to existing magnetically levitated artificial hearts on the market, its diameter is reduced by 40%, and its weight is decreased by 50%. It is currently the smallest and lightest fully magnetically levitated centrifugal left ventricular assist system globally. In its design, the product achieves advantages such as small size, light weight, excellent blood compatibility, low power consumption, and long battery life. It shows overall improvements in implant invasiveness, infection prevention, system reliability, and system portability.

In 2022, the clinical trial of the Corheart 6 implantable left ventricular assist system, led by Fuwai Hospital of the Chinese Academy of Medical Sciences and participated in by 12 clinical research centers across China, has been completed and entered the registration and certification stage.

Intraoperative Pump Implantation

Yu Shunzhou, founder of Core Medical, stated that there is no single product in the field of mechanical circulatory support for heart failure that can meet all the needs of different patients. Based on the progression of the patient's disease, the required support flow, and the duration of support, a comprehensive assessment of the patient’s condition and clinical needs is conducted in clinical practice, followed by the selection of different types of artificial hearts for treatment. In response to this, the company will also make a comprehensive layout in the field of ventricular assist devices. The oversubscription of this round of financing will accelerate the commercialization of Corheart 6 and the research and clinical development of interventional ventricular assist devices.