Chinese VAD Innovator MagAssist Gains Global Recognition for Social Impact and Files IPO Prospectus

SuzhouDecember 15, 2022/PR Newswire/ -- Recently, at the "Forbes Asia 100 To Watch Webinar," magAssist was featured asOnlyA Chinese company stood out from a hundred companies in the Asia-Pacific region to receive a special nomination for the "FedEx 2022 Small and Medium Enterprises Competition" in the Asia-Pacific, Middle East, and Africa (AMEA) region. Dr. Po-Lin Hsu, CEO of magAssist, was also selected as one of the "Forbes China Top 100 Young Returned Overseas Elites" for her significant contributions to the independent research and development of artificial hearts in China.

This is the second time magAssist has drawn significant international attention this year, following its inclusion in the "Forbes Asia 100." AsmagAssist, a representative enterprise in China's artificial heart field, has frequently drawn attention from international media due to its groundbreaking innovations in research and development and the social value it delivers.Multiple domestic and international media outlets, including The Economic Times, Business News This Week, China Civil Aviation News, and E-Commerce Times, have reported on this selection and competition.

Kawal Preet, President of FedEx Asia Pacific, Middle East, and Africa, said: "These entrepreneurs are reshaping the future of business. From AI-driven e-commerce solutions to helping patients manage heart disease, the winning companies demonstrate that digital transformation isCreating various possibilities and bringing positive impact to life。”

Source: FedEx Official Website

High-tech barriers, high social value scientific and technological innovation fields attract attention from mainstream media both in China and abroad

2022 was a year when the term "artificial heart" gained increasing prominence. Currently, high-end medical devices with independent intellectual property rights in China are emerging continuously, and significant progress has been made in the domestic production of artificial hearts. Whether a company can "solve global challenges through technological innovation" while also "possessing social influence" is not only a key factor in determining domestic self-research enterprises but also two major focal points for evaluating whether a company has international vision on a global scale.

From 2021 to 2022, on platforms such as Forbes Asia, Fortune China, and TEDTalk, we could see these internationally influential and compelling media outlets casting their eyes on Chinese hard-tech startups in the medical industry, with magAssist frequently catching the eye."Fortune" stated:“Even in unconventional economic environments, startups that are innovative and focus on the social significance and value of their businesses are still more likely to gain recognition.”

Data shows that there are 975 patent applications related to artificial hearts in China.Among them, magAssist has submitted209This patent application, includingPCTApplication43Chapter.The breakthroughs and contributions made by magAssist, a research and development enterprise with China's independent intellectual property rights in the field of artificial hearts, will provide more treatment options and survival opportunities for heart failure patients in China and even globally.

Dr. Bo-Ling Xu, CEO of magAssist, the first Chinese member of the International Society of Mechanical Circulatory Support (ISMCS) and a recipient of China's national talent programs, stated: "Against the backdrop of innovation and development in national policies and China’s domestic capital market, despite rapid expansion since its establishment in 2017, magAssist has remained true to its original mission."magAssist always starts from the patient's perspective, listens to the clinical pain points of medical professionals, and provides better products and services with advanced technology that better meets current clinical needs.。”

Against this backdrop, magAssist maintains an agile and efficient R&D pace.Only use3Years of time, completed from scratch“One of Two Globally, The Only One in China”The independently developed extracorporeal magnetic levitation artificial heart has been successfully advanced to clinical use, saving dozens of patients so far. The team led by Director Dong Nianguo of the Cardiac and Great Vessel Surgery Department at Wuhan Union Hospital achieved a breakthrough by making the surgery minimally invasive. During the period of extracorporeal artificial heart assistance, the patient’s lower limb mobility is not affected, allowing for autonomous eating and getting out of bed for exercise. Professor Dong Nianguo stated: "This treatment method was previously unavailable in China. Strengthening innovation in China's medical technology field, developing short- and medium-term mechanical assist devices with international standards, and translating them into clinical use is the responsibility and obligation of us medical researchers. We hope..."Achieving the treatment goals of high efficiency, cost-effectiveness, and optimized clinical outcomes through the use of domestically developed, minimally invasive extracorporeal artificial hearts with Chinese characteristics.”

magAssist starts with heart failure, building a multi-organ failure life support platform. Its primary product lines include:Minimally Invasive Insertable Artificial Heart, External Magnetic Levitation Artificial Heart, New Generation Portable Extracorporeal Membrane Oxygenation System (ECMO), organ warm blood transport platform, etc.Gao Jieliang, Senior Partner of CDH Innovation and Growth Investment, stated: "We hope that a company has a single blockbuster product with significant market potential, along with a pipeline of subsequent R&D products, which could give it the possibility of becoming a platform company. This way, the growth potential and R&D risks of the company are relatively balanced. Simply put, in the cardiovascular or life support fields, we hope that a company is a platform-type company with a portfolio of products. Of course, in the early stages of a company's development, it still needs to focus on its core product."