CoreMedTech Secures Hundreds of Millions in Series C Funding to Advance Full-Portfolio Artificial Heart Platform

36Kr learned that,Shenzhen Core Medical Technology Co., Ltd.(hereinafter referred to as "Core Medical") has completed a C-round financing of several hundred million yuan, led by Yuanheng Lizhen Capital, Cornerstone Capital,SalubrisMedical device companies, Shenzhen Huitong Rongxin Investment Co., Ltd., Beihang Investment Co., Ltd., and others jointly invested, with existing shareholders Shanghai New Alliance Investment Management Ltd. and GL Ventures continuing to increase their investments.This round of financing will be mainly used to accelerate the R&D, clinical, and commercialization layout of the product line, and build an innovative active implantable platform.It is worth mentioning that the company has also2021Completed a nearly 200 million yuan Series B round of financing led by Hillhouse Ventures, with participation from CICC Capital, Shanghai New Alliance Investment Management Ltd., and PwC Capital.

Core Medical was founded in 2016, focusing on providing comprehensive mechanical circulatory support solutions for heart failure patients, excelling in the miniaturization of artificial hearts.For more details, see 36Kr's early report.). Up to now, the company has built a product pipeline covering comprehensive mechanical circulatory support for acute and chronic heart failure, encompassing different support durations, surgical methods, departments, and flow rates.With over 200 independently developed patented technologies globally.

Specifically, in the field of implantable artificial hearts (LVAD, implantable left ventricular assist devices), Core Medical has independently developed the all-new Corheart 6, a fully magnetically levitated centrifugal left ventricular assist system.An Important Milestone in the Miniaturization Era of LVADAccording to the team, the Corheart 6 clinical trial led by Fuwai Hospital, 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.

It is reported that Corheart 6 adopts axial full magnetic levitation and integrated control technology, offering multiple advantages: achieving a compact size, lightweight, excellent blood compatibility, low power consumption, and long battery life in product design; enhancing performance in terms of implant invasiveness, infection prevention, system reliability, and system portability; and can also be applied to high-risk patient groups such as children and overweight individuals, broadening its application scope.

Photo provided by the company

In the field of percutaneous ventricular assist devices (pVAD), for treating conditions with risks of mid-term and short-term circulatory failure such as high-risk PCI and cardiogenic shock, Core Medical has expanded its strategic layout to include pVADs. The main direction of innovation lies in:Minimal invasive size and micro motor. The team stated that this alsoLow Trauma and Low Bleeding Risk, andFurther reduce hemolysis, enhance product stability and long-term operational reliability, ultimately achieving better blood compatibility and longer clinical usage time.

It is understood that, in general, doctors have three major requirements for interventional cardiac devices: First, longer clinical support time, exceeding 30 days and even reaching over a year; second, smaller size, reducing to the size of IABP (7.5Fr-8Fr) or even smaller; third, better hemodynamics, providing more than 5 liters of blood flow per minute.But these three points actually balance each other out, and a product that can simultaneously meet these three criteria is one that gains long-term recognition.

In recent years, with the aging population and population growth, the number of patients with end-stage heart disease has been increasing. In 2017, there were 64.3 million heart failure patients globally. The latest results from China's epidemiological survey on heart failure show that there are approximately 13.7 million heart failure patients in China. Among these patients, cardiac function progressively worsens as the disease advances. Under the influence of various causes or triggers, high-risk symptoms such as decompensation may occur, requiring sufficient hemodynamic improvement to alleviate symptoms or preserve end-organ function. The number of patients needing mechanical circulatory support to assist cardiac pumping function exceeds 1 million annually. 

Mechanical circulatory support (MCS), as an artificial device that substitutes or assists cardiac function, provides extracardiac blood perfusion, improves the body's hypoxic state, and promotes organ function recovery, is commonly referred to as an "artificial heart." As a technological peak in the cardiovascular device field, it is known as the "jewel in the crown of medical devices" due to its high development difficulty, posing a significant challenge for companies both domestically and internationally. 

Dr. 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, and then different types of artificial hearts are selected for treatment. In response to this, the company will also comprehensively layout the field of ventricular assist devices.