Tianhong Shengjie Completes Tens of Millions RMB Series B+ Financing to Advance Comprehensive Venous Disease Treatment Platform

Recently, VCBeat learned that,Venmedtech Completes Tens of Millions of Yuan in B+ Round Financing; This Round of Financing Was Jointly Invested by Qiaojing Capital and Zhuopu Capital; the Funds Will Be Used for Market Promotion of the Company’s Iliac Vein Stent and the Research and Development of Subsequent Products, Promoting the Creation of a One-Stop Solution for Venous Disease Treatment.

As a one-stop product platform in the field of venous disease treatment, Venmedtech has comprehensively laid out its strategies in the treatment areas of peripheral venous stenosis and obstruction, thrombosis, and venous reflux disorders. In April 2022, the Venastent® iliac vein stent developed by Venmedtech was approved for marketing by the National Medical Products Administration, marking it as the first domestically produced iliac vein stent to be approved for sale in China.Currently, the Venastent® iliac vein stent has completed the listing process in more than ten provinces and cities across China, receiving high evaluations from clinical frontline users.

Looking back at Venmedtech's journey over the past three years, from 2020 to 2022, financing progressed steadily. Despite this year’s capital market appearing somewhat “cold,” the company successfully completed a new round of financing.

Many factors have contributed to Venmedtech's steady progress. On one hand, the company has chosen the right direction—there is a large clinical demand for the treatment of peripheral venous diseases. There are 120 million patients with varicose veins alone. The procedures for treating these diseases are less complex and risky but emphasize localized treatment, making it feasible to carry out in a wide range of grassroots hospitals. The market size of peripheral venous interventional devices is expected to grow from 890 million yuan in 2017 to 3.1 billion yuan in 2022, with an annual compound growth rate of 28.4%.

On the other hand, Venmedtech has proposed a better solution. "Better" not only refers to the company's products being superior in performance compared to existing products on the market, such as the Venastent® iliac vein stent, which adopts a large mesh flower crown design at the proximal end, offering excellent support, flexibility, and imaging performance, effectively preventing contralateral thrombosis. Clinical trial results show that patients with iliac vein stenosis or occlusion have a 100% iliac vein patency rate 12 months after Venastent® stent implantation; it also refers to Venmedtech’s better industrial layout, building a one-stop product platform for venous diseases.

From the perspective of disease treatment, peripheral venous diseases require comprehensive treatment with multiple levels of different surgical procedures, and the clinical preference is for a one-stop product treatment platform. From the perspective of market potential, venous intervention is different from arterial disease intervention, where it is difficult to solve problems with just one or two products; companies that provide complete solutions will have more advantages.

Venmedtech is China's first company dedicated to the treatment of peripheral venous diseases.Venmedtech has obtained six NMPA product registration certificates, including iliac vein stent systems, peripheral balloon dilation catheters, high-pressure peripheral vascular balloon dilation catheters, intravascular foreign body retrieval devices, great saphenous vein stripping catheters, and balloon inflation devices, all of which are independently owned intellectual properties. Meanwhile, Venmedtech is also developing product lines for thrombosis treatment, drug-device combinations, and vascular interventional embolization.

Currently, Venmedtech has applied for 55 patents in China, with 40 granted, including 7 authorized invention patents, 31 authorized utility model patents, and 2 authorized design patents; it has also applied for 7 international patents in the United States, Europe, Japan, etc., with 3 already authorized.

In the future, Venmedtech will continue to improve its venous intervention product line focusing on peripheral venous obstruction, stenosis, thrombosis, and reflux diseases. Meanwhile, the company’s industrial layout will expand into the peripheral artery and peripheral vascular fields, with its product range shifting from access products to drug-device combination and functional products. Additionally, starting from treatment, Venmedtech will gradually cover the entire process, including screening, diagnosis, treatment, and prognosis.

For this round of financing,Yu Zhe, Director of Medical Investment at Qiao Jing Capital, stated："The field of peripheral interventional treatment is just beginning to flourish. Venmedtech, as one of the pioneering companies in this field, has gradually improved its product line and addressed its weaknesses in recent years, developing vigorously towards becoming a comprehensive vascular treatment platform. We believe that Venmedtech has the potential and opportunity to become a leading enterprise in this niche market. We are willing to support Venmedtech in enhancing its value and bringing its products to benefit patients as soon as possible."

Zhuo Pu Capital's Healthcare Investment Director Zhang Chuntang stated"Venmedtech's core product, the iliac vein stent system, has significant advantages in terms of its technical approach and development progress. At the same time, national policies support the domestic production of medical devices. With the company’s iliac vein stent system approved on April 20, 2022, obtaining the first domestically produced certificate, Venmedtech’s leading position in the venous vascular market has been further confirmed. In the future, the company will have more product layouts in venous intervention and even peripheral vascular intervention. We hope to support the company in its further development within the industry, benefiting more patients."

Qiaojing Capital Focuses on Early-Stage Investments in the Healthcare Industry, with a Particular Emphasis on Medical Devices, Biopharmaceuticals, and Innovative Biotechnologies. In the field of medical devices, Qiaojing Capital has strategically invested in high-value consumables such as Aojing Medical (688613), Tianzhu Ruichang (thoracic aortic stent grafts), Kangfeng Biotech (cryoablation for atrial fibrillation), Venmedtech (peripheral vascular intervention), and Rongsheng Medical (internal radiotherapy for cancer treatment). In the biopharmaceutical sector, it has focused on innovative drug companies like Zhidao Biotech (protein-based drug R&D platform), Jianxin Biotech (bispecific antibody R&D platform), Jinfang Pharmaceuticals (large and small molecule drug technology platform), and Xning Biotech (biologics testing platform). In the area of innovative biotechnology, it has supported well-known projects in niche markets such as Fisbio (precision oncology diagnostics), Sino Bio (NGS sequencing platform), and Kangli Medicine (pharmacogenomics for psychiatric disorders). Qiaojing Capital consistently adheres to value investing based on clinical needs within the healthcare sector, fostering new medical technologies and providing better solutions for clinical practice in China, thereby contributing to the advancement of global healthcare.

Suzhou Zhuopu Investment Fund Management Co., Ltd. (hereinafter referred to as "Zhuopu Capital") is a wholly-owned subsidiary of Suzhou Asset Management Co., Ltd. Its current management scale is close to 2 billion yuan, including five self-managed funds. It focuses on innovative talent enterprises within Suzhou City, committed to integrating industry and talent. By promoting innovation and entrepreneurship through equity investment, it supports the rapid development of local talent enterprises. Relying on the resources of Suzhou's municipal state-owned enterprise platform and the investment and financing capabilities of professional venture capital institutions, Zhuopu Capital has completed investments in more than twenty high-quality enterprises such as Multidimension Technology, Shengshi Taikang, Haizhibo, Tongli Optoelectronics, Matrix Optoelectronics, CAS Fusion, Shunyun Technology, Qiaofa Environmental Protection, Thousand Aircraft Intelligence, Tianbing Technology, Dongsheng Intelligence, and Meidong Union.