Shenchang Medical Files IPO Prospectus: Pioneering Wireless DBS and Aneurysm Solutions Reshape the Neurotechnology Landscape

Neuroscience is the "ultimate frontier" for humanity to understand nature and itself, and also one of the most advanced and cutting-edge research and development directions. With the acceleration of population aging in major economies around the world, neurological diseases are gradually becoming a significant challenge to human health.

In recent years, the field of neuroscience has developed rapidly, giving rise to a number of disruptive theories and revolutionary technological achievements, including emerging technical means such as neuromodulation and neurointervention. Against this background, NEULIVE MEDICAL (hereinafter referred to as "NEULIVE MEDICAL")Riding the winds of change, NEULIVE MEDICAL continuously seeks innovation in the field of neuroscience, leveraging its deep industry experience to explore more possibilities.

In November 2022, NEULIVE MEDICAL completed the first animal experiment of leadless DBS, firing the first shot of China-produced leadless DBS, which also marked a critical innovative leap for NEULIVE MEDICAL based on traditional treatment methods.

On December 2, 2022, NEULIVE MEDICAL's self-developed percutaneous peripheral nerve stimulation system completed its first clinical enrollment at Xinhua Hospital affiliated with Shanghai Jiao Tong University School of Medicine., laying the foundation for the peripheral nerve electrical stimulator to enter the registration clinical stage.

(Professor Ma Ke's team from Xinhua Hospital affiliated to Shanghai Jiao Tong University School of Medicine & NEULIVE MEDICAL R&D team)

After the surgery, Professor Ma Ke said: "In the past decade, the pain department has been committed to clinical research. After various explorations, we have made significant progress from basic research to clinical application. However, many chronic pain conditions still require peripheral nerve stimulation for patients to benefit. Due to technical barriers, this therapy has been monopolized by foreign countries. Therefore, we are very pleased that NEULIVE MEDICAL has broken this monopoly and brought this therapy to China, to the pain department of Xinhua Hospital affiliated with Shanghai Jiao Tong University School of Medicine. I believe this will greatly enhance the future diagnostic and treatment capabilities as well as the medical quality of our department, providing more effective, safer, and more convenient tools for both our doctors and patients in the pain department."

As a rising star in the field of brain science, NEULIVE MEDICAL's multiple innovative products have entered and are gradually completing clinical trials. Several products have broken overseas technological monopolies, filling the gap in domestically produced alternatives.

Unlike the traditional single-field development model of either neurointervention or neuromodulation, NEULIVE MEDICAL has, on the one hand, broken away from the homogenization rut in the neurointervention field by creating innovative products with unique advantages, further enhancing the company's self-sustaining capabilities. On the other hand, it continues to advance into the "uncharted territory" of brain disease treatment, using innovative technologies to break through technical barriers in the neuromodulation field, and is committed to providing more solutions for the vast patient population suffering from neurological diseases. It is this "dual-drive" development model that has allowed NEULIVE MEDICAL to achieve "accelerated growth" in just a few short years.

Recently, VCBeat visited NEULIVE MEDICAL to explore the driving force behind its efficient multi-channel independent research and development. We also gained further insights into NEULIVE MEDICAL's future global layout and planning.

Unlike its competitors in the neuroscience field that seek overseas technology licensing or OEM (outsourcing) cooperation for their development path, NEULIVE MEDICAL remains committed100% Self-DevelopedAndAutonomous ProcessingThe strategy ensures internationally leading product performance and cost advantages while maintaining long-term technological innovation capabilities and core competitiveness.

Currently,NEULIVE MEDICAL's Leadless DBS and Comprehensive Solution for Small System AneurysmsIt is the flagship product of NEULIVE MEDICAL.

NEULIVE MEDICAL's leadless DBS is compact, only slightly larger than a coin.

Leadless DBS products are mainly used in the treatment of Parkinson's disease, essential tremor, and more. Unlike the extension lead design of traditional wired DBS, leadless DBS eliminates the need for surgeons to create a "tunnel" in the patient’s neck and chest area, significantly reducing operation time and lowering the risk of surgical infections, thereby enhancing the safety and efficacy of the procedure.

For doctors, the learning curve is shorter, making it easier to promote and extend to grassroots-level hospitals, enriching their diagnostic and treatment methods and benefiting more patients. In addition, while avoiding the shortcomings of traditional wired DBS therapy, leadless DBS implantation causes less trauma, achieving a win-win situation for both doctors and patients.

Based on NEULIVE MEDICAL's full-process independent control capability in research and development and processing, the leadless DBS product demonstrates strong vitality. With the support of cranial implantation methods and a feedback system, its indications can be expanded toEpilepsy, Alzheimer's Disease, DepressionThe treatment of diseases such as [...] is expected to serve a broader range of disease areas, benefiting more patients.

Product strength and continuous innovation are the most core competitiveness of an enterprise. Neurointerventional products target aneurysms, which differ from single diseases like coronary artery or valve conditions; their onset is sudden and the situations are extremely complex. A single product can hardly address all the different types of aneurysm scenarios, thus making it impossible to dominate with one solution alone. Only a combination of strategies can defeat all "aneurysms."

In NEULIVE MEDICAL's overall solution for aneurysms, the small-system dense mesh stent completed all clinical enrollments in September 2022 and is expected to receive approval by early 2024.

Comparison Chart of NEULIVE MEDICAL's 017 Dense Mesh Stent vs. Traditional Sizes

NEULIVE MEDICAL's Dense Network Stent AdoptedSpecial Closure Design, based on actual clinical needs, covers more models. Its unique 0.017 delivery system allows the stent to reach farther and finer middle cerebral artery aneurysms, while the smaller design reduces vascular irritation.

In addition, NEULIVE MEDICAL's dense mesh stent demonstrated excellent deployment, anchoring, and wall apposition during clinical enrollment. The high radial support force and closed structure at both ends enhanced intraoperative maneuverability, ensuring therapeutic efficacy while reducing damage to the patient's vascular wall.

Yang Ying, Chairman of NEULIVE MEDICAL, stated that since the establishment of NEULIVE MEDICAL, we have been committed to bringing numerous internationally leading innovative products and medical solutions to patients in China. Currently, several core products of NEULIVE have entered clinical trials and are gradually completing them. Multiple technologies have broken foreign technological monopolies, garnering attention and recognition from all sides. Subsequently, further acceleration will be made in advancing product implementation to better and more quickly meet patients' health needs.

The reason why NEULIVE MEDICAL can innovate and conduct research across the fields of neuromodulation and neurointervention, and overcome several key technologies, is closely related to the collaborative efforts between its teams in China and the US, as well as its elite team of over 140 members.

NEULIVE MEDICAL US-China R&D Center

NEULIVE MEDICAL inR&D centers are located in Shanghai and the United States, respectively.Among them, the Shanghai R&D center is responsible for realizing the engineering and product implementation, while the U.S. R&D center mainly focuses on chip and cutting-edge technology development. The two founders of NEULIVE MEDICAL have rich industry experience and are able to accurately grasp the pulse of corporate development strategy.

FounderYang Ying, with over 35 years of in-depth experience in aviation and implantable medical device R&D in both China and the U.S. Served as the Chief Engineer of R&D at Boston Scientific's SCS division and as the Chief Engineer for Implantable Cardioverter Defibrillators (ICD) at St. Jude Medical. Later returned to China to serve as Vice President of MicroPort, where he established the first domestic R&D team for cardiac pacing leads in China and successfully brought multiple cardiac pacing leads with China's first independent intellectual property rights to market.

FounderZhang Jiuli, with over 10 years of experience in the development of neurovascular and related interventional products, is a pioneering member of China's neurointerventional field. He led the development and post-market improvements of the Tubridge flow diverter stent at MicroPort NeuroTech. He has a proven track record in project management and extensive experience in medical-engineering development. Additionally, he is highly skilled in both manual and advanced mechanical braiding techniques for interventional devices, demonstrating top-tier innovation capabilities.

Based on the strength and influence of the two founders in the industry, NEULIVE MEDICAL has attracted a large number of experts from China and the United States to join the team. The company's CTO is a senior overseas expert with over thirty years of experience in the research and development of active implantable devices and has worked on three generations of commercially available products related to optic nerve electrical stimulation at Secondsight. The core management team also has more than 10 years of experience in medical implantable devices, supporting NEULIVE MEDICAL to move forward steadily and achieve long-term success.

Under their leadership, NEULIVE MEDICAL focuses on a dual-driven strategy of neuromodulation and intervention, actively seizing the technological innovation high ground. It has comprehensively laid out in-depth plans across the six major disease areas of neuroscience, further perfecting the ecological closed loop for NEULIVE MEDICAL’s development in the neuroscience field.

Under the new development pattern of domestic large-scale circulation as the main body and the mutual promotion of domestic and international dual circulation, NEULIVE MEDICAL is further accelerating the consolidation of its independent R&D capabilities, enhancing innovation levels, and achieving independent control of core technologies. In China, with a diversified product line covering mid-to-low-end and high-end markets, integrated solutions, and the advantages of localized technology, NEULIVE MEDICAL's products have gained recognition from several top brain science centers in China and established collaborations.

On the other hand, NEULIVE MEDICAL will further expand overseas markets and extend its development boundaries. Through a two-way collaboration model between overseas R&D centers and domestic centers, while introducing globally innovative leading technologies into China, it will also further promote the independent research and development of domestically produced innovative medical devices, providing Chinese patients with more high-quality neuroscience medical solutions "Made in China."

Currently, NEULIVE MEDICAL is starting from its overseas R&D center to simultaneously submit "Made in China" products for overseas regulatory approval, hoping to seize the opportunities in overseas markets and enhance the influence and market coverage of the NEULIVE brand.

Finally, Yang Ying, Chairman of NEULIVE MEDICAL, stated that NEULIVE MEDICAL will comprehensively strengthen product R&D innovation, deepen the optimization and layout of product lines, and accelerate its entry into the international market. It aims to further seize significant opportunities in the bidirectional development of domestic and overseas markets, bringing top-tier technologies in the global neuroscience field "in" and enabling top-tier innovative "Made in China" products to "go out." With a foundation in China, it seeks to benefit the world.