XinKainuo Medical Completes RMB 100 Million Financing to Accelerate Innovation in Neurovascular and Peripheral Interventional Products

VCBeat (WeChat: vcbeat) learned that Skynor Medical announced the completion of a billion-dollar financing round, jointly invested by Zhangjiang Hi-Tech, Pudong Capital, Zhangjiang Haoheng, and Su Xin Venture Capital. This round of financing will be used to accelerate the development of domestic and international markets, deepen regional presence, and expedite the layout of new products in neuro-intervention and peripheral intervention.

Skynor Medical (Shanghai) Co., Ltd. was established in August 2014. It is a high-tech enterprise focusing on the independent research, development, and manufacturing of advanced neurovascular and peripheral vascular implantable/interventional medical devices.Committed to providing high-quality and complete vascular implant/intervention device solutions for doctors and patients。The company is located in the International Medical Park of Zhangjiang Science City, with approximately 3,000 square meters of space for R&D, production, and office use. It has established a robust core management team, consisting of industry elites from renowned domestic and international medical device companies, all possessing extensive R&D and management experience with an average of over fifteen years in the field.

Skynor Medical places great emphasis on R&D innovation and has established a research and development system centered on independent innovation.，Accelerate the Breakthrough of China-produced High-end Medical DevicesIt has now formed a complete industrial layout dominated by neurointervention and focused on peripheral vascular intervention.，And has obtained multiple product registration certificates both in China and internationally, with products gradually being launched into the market to generate revenue. During this period, the company received encouragement and support from various science and technology funds, including those from the Shanghai Municipal Science and Technology Commission, the Pudong New Area Science and Technology Commission, the Economic and Information Commission, and Zhangjiang Science City. The company and its products have successively won several honors, such as "Outstanding Enterprise of the 9th China Innovation and Entrepreneurship Competition," "Shanghai Rising Star Entrepreneurial Enterprise," "Key Entrepreneurial Enterprise of Pudong New Area," "First Prize in the 2021 Fourth China Medical Device Innovation and Entrepreneurship Competition," and "National High-tech Enterprise in 2022." Additionally, the company has garnered favor from several well-known investment institutions.

In 2022, the company achieved significant progress in multiple key products.SkyVega with a New Generation of Innovative Antithrombotic Coating Design^®Clinical Enrollment for Blood Flow Diversion Dense Mesh Stent Successfully Completed; Self-Developed SkyFlow^®Intracranial Thrombectomy Stent, SkyLoach® Intracranial Balloon Dilatation Catheter, and SkySurfer^®Products such as distal access catheters receive high-tech achievement transformation projects; follow-up for peripheral interventional vascular stents completed.; Currently, the company's business has covered 29 provinces and regions in China; sales have been certified in multiple countries overseas;Skynor Medical will subsequently launch重磅 products in key sectors, deepen product value, and refine the product system.

Founder and Chairman of Skynor Medical, Zhao ZhenxinStated: First of all, we would like to thank Zhangjiang Hi-Tech, Pudong Capital, Zhangjiang Haoheng, and SuXin Venture Capital for their recognition and investment in Skynor Medical. Driven by technological innovation, Skynor Medical’s fully marketed series of cerebral ischemia thrombectomy products have gained high recognition from clinicians and delivered excellent treatment outcomes for stroke patients. We will accelerate the development of innovative cerebral hemorrhage and peripheral vascular interventional products while speeding up the commercialization of the company’s product portfolio to provide high-quality solutions to more users and patients both domestically and internationally, continuously creating greater value.

Zhangjiang Hi-TechSkynor Medical, rooted in the innovative hub of Zhangjiang Science City, is rapidly growing into an innovative medical device enterprise serving the global market. Skynor Medical’s product design philosophy is unique, with strong continuous improvement capabilities, excellent clinical treatment outcomes, and a positive clinical user experience. It is progressively addressing practical clinical needs such as the low penetration rate of stroke treatments at the grassroots level and the limited solutions available for peripheral vascular disease patients. We have high regard for Skynor Medical's efficient R&D and clinical registration team, and we look forward to their products reaching broader regions. We also anticipate that Skynor Medical will always prioritize clinical needs, enhance product strength through research and development, and contribute to the treatment of acute and chronic neurological and peripheral diseases.

Pudong CapitalSkynor Medical is an innovative medical device enterprise based in Pudong with a global outlook. Skynor Medical’s products feature the concept and patents of independent innovation design in China, demonstrating good clinical treatment effects and gaining high recognition from clinicians and patients. As the manager of the Pudong New Area State-owned Capital Fund, we will continue to provide comprehensive support to empower independent innovation enterprises like Skynor Medical to deeply cultivate, develop, and grow stronger in Pudong.

Zhang JianghaoRepresentation: The aging population and the younger trend of cardiovascular and cerebrovascular diseases are driving the rapid growth of the neuro and peripheral intervention market. Skynor Medical aligns itself with world-class neuro and peripheral interventional device companies, committed to providing comprehensive neuro and peripheral interventional surgical solutions for clinical use. Several of the company’s products have been approved for marketing in China and the EU, with clinical treatment outcomes highly recognized by doctors and patients. Its products under development lead domestically in design concept and R&D progress. We are honored to participate in this round of financing for the company, supporting its future development. We look forward to more and better products from Skynor Medical reaching the market soon to benefit patients.

SuXin Venture CapitalSkynor Medical: The market space for the neurointervention and peripheral vascular intervention industries in which Skynor operates is vast, with a clear trend toward domestic substitution. The company was an early mover in the industry, boasting a rich product pipeline and significant first-mover and technological advantages across various niche markets. Under the leadership of General Manager Zhao, the R&D team is pragmatic and efficient, having completed a robust R&D pipeline comparable to many listed companies in a short time and with relatively low investment. In the coming years, the company will launch several key products into the market. We are optimistic about the company’s sustained R&D capabilities and believe that as more products receive certification and enter the market, Skynor's performance will achieve rapid growth in the coming years.

Shanghai Zhangjiang Hi-Tech Park Development Co., Ltd. (600895.SH) is the main developer of Zhangjiang Science City, the core area of Shanghai's Innovation and Technology Center. It aggregates various resources to create a harmonious and co-prosperous ecosystem for scientific and technological innovation, empowering China's science and technology innovation industry, leading the development of China's science and technology innovation industry, and coexisting with the potential of scientific innovation. The company provides full lifecycle spatial carriers for technology enterprises, offering an entire industrial line of spatial carriers from incubation and acceleration to R&D offices. Through "direct investment + funds + 895 Incubator," it fully integrates into the industrial chain and industrial ecosystem.

Zhangjiang Haicheng, as an investment platform under Zhangjiang High-Tech, covers investment stages from early-stage, growth-stage to pre-IPO projects. Its investment areas include key technology sectors that are being heavily developed within Zhangjiang Science City, such as biomedicine and medical devices, integrated circuits, artificial intelligence, etc.

Shanghai Pudong Private Equity Fund Management Co., Ltd. (hereinafter referred to as "Pudong Capital") is a private equity fund management platform under the Pudong Investment and Control Group, approved by the Pudong New Area People's Government. Pudong Capital is responsible for managing the Pudong Science and Innovation Fund and the Leading Zone Industrial Development Fund, with a management scale exceeding 10 billion RMB, serving as an important state-owned capital force for the construction of Pudong New Area. Pudong Capital drives dual-wheel coordinated development with the two major government industrial funds, serving the implementation of national major strategies, the development of key areas in Pudong New Area, and the reform and transformation of state-owned enterprises in Pudong New Area.

Zhangjiang Haoheng is an equity investment management company initiated and established by Zhangjiang Hi-Tech (600895.SH) in 2019. It focuses on integrated circuits, biomedicine and medical devices, new-generation information technology, intelligent manufacturing, and other fields, targeting technological innovation enterprises within these industries. The company is based in the core industries of Zhangjiang Science City, concentrating on "hard tech" sectors, using capital to drive technological innovation. Meanwhile, it relies on the rich industrial ecosystem of Zhangjiang Hi-Tech, drawing on various innovative elements and resources to provide diversified support and services to enterprises.

SuXin Venture Capital is a wholly-owned subsidiary of Suzhou Trust Co., Ltd. It was approved for establishment by the China Banking Regulatory Commission on August 2, 2011, and is a qualified licensed institution registered with the Asset Management Association of China. SuXin Venture Capital serves high-quality enterprises in Suzhou and the Yangtze River Delta region, focusing on the healthcare sector. Targeting unmet clinical needs, it invests in new drug development and high-end medical device import substitution for major diseases such as cancer, cardiovascular diseases, and metabolic disorders, driven by advancements in bioscience knowledge and application technologies.

Skynor Medical, founded in 2014 and located in the Shanghai International Medical Park, focuses on the research, development, and production of high-end minimally invasive vascular interventional products. With two main product lines—neurointerventional and peripheral interventional—it positions itself as a platform company specializing in these fields, providing comprehensive treatment solutions for patients with stroke and peripheral arterial/venous vascular diseases.