Zhenyi Medical Secures Hundreds of Millions in Pre-B Funding, Ushering in a New Era for High-End Cardiovascular Interventional Devices

VCBeat learned that Jiangsu Trulive Medtech Co., Ltd. (hereinafter referred to as Trulive) has completed a Pre-B round of financing worth hundreds of millions of RMB, led by Daohe Long-term Investment with the participation of multiple parties, and with continued support from existing shareholders such as Ancheng Capital, C&D Corporation, and Jiyuan Capital. The success of this round of financing demonstrates investors' great recognition of Trulive's in-house research and commercialization layout in the cardiovascular field, as well as their strong confidence in the company’s development. This funding will continue to be used for the innovative development and clinical research of Trulive's cardiovascular products on one hand, and on the other hand, it will actively promote the commercialization process of Trulive's products, accelerating product launches to meet the urgent clinical needs of tens of millions of cardiovascular disease patients.

Trulive is a highly innovative high-end medical device enterprise. Since its establishment, it has been on the fast track of innovative development. The company focuses on disease areas with extremely high mortality and disability rates that remain unaddressed in the Chinese market. Its business comprehensively covers four major disease areas: heart valves, heart failure, peripheral vascular, and coronary artery diseases. It has become the first domestic high-end medical device platform company in China to fully cover these four golden tracks, with all core products achieving substantial progress. Currently, Trulive has applied for over 160 patents, 80% of which are invention patents, and more than 40 PCT international patents. The company has over 15 ongoing projects in research and development. Four key products—mitral valve repair, tricuspid valve repair, mitral valve replacement, and shockwave balloon—are in the rapid enrollment phase of registration clinical trials. Their excellent clinical trial results have gained widespread recognition from numerous patients, clinicians, and industry peers. These four products are leading in progress and hold top positions in China. Additionally, other innovative products such as pulmonary thrombectomy, dry aortic valve, and shunt devices are following closely and will enter the clinical stage this year.

Focusing on critical diseases in clinical scenarios such as valvular heart disease and heart failure, which have extremely high mortality and disability rates, the Trulive medical team continues to delve into frontline clinical settings, understand clinical pain points, and translate clinical needs into engineering language. They have developed several significant interventional products, including the NeoNova valve product.^®Transcatheter Mitral Valve Repair System, NeoBlazar^®The Transcatheter Tricuspid Valve Repair System, TruDelta® Transcatheter Mitral Valve Replacement System, and PVLive™ Intravascular Shockwave Balloon Catheter have successively entered clinical trials, with clinical data results far ahead, outperforming overseas competitors. These achievements strongly break foreign technological monopolies and fill multiple gaps in Chinese-produced medical devices.

Chairman of Trulive stated: "The vitality of medical device products lies in their safety and effectiveness. Trulive's products have already withstood the initial clinical tests. While ensuring the safety and efficacy of the products, we hope to further overcome foreign 'chokepoint' technological issues, achieve lower costs and better products, which will bring benefits to a wide range of cardiovascular patients and provide Trulive with vast development prospects."

Currently, the global market is experiencing severe fluctuations, and the stability of the supply chain is facing significant challenges. Against this backdrop, Trulive has carried out in-depth professional and localized integration of its product supply chain, enabling the entire lifecycle of product manufacturing to be completed by local enterprises. While ensuring high quality and advanced technology, this move completely breaks foreign technological monopolies, optimizes cost structures, effectively controls production costs, and truly delivers safer, more effective, and more affordable domestically produced high-end medical interventional devices tailored for Chinese patients.

In addition to the highlights of the product itself, Trulive has established a dual-core driven development model by laying out a "large and comprehensive" high-quality valve product line and expanding "small and beautiful" innovative pipelines, continuously strengthening its core competitiveness and promoting sustainable business growth, which are also important factors in gaining the favor of the capital market.

"The promotion of solution penetration and commercialization inevitably involves the topic of pricing. Currently, less than 20% of Chinese patients and their families can afford surgical costs exceeding 250,000 yuan for a life-saving product. However, the current interventional valve products often come with surgery costs of over 300,000 yuan, which most Chinese families cannot bear, resulting in very low product penetration," the chairman stated. "Some companies focus on a single product, whether it's for repair or replacement, and regardless of how they price it, they only target one level of the market. Since its establishment, Trulive has made it its goal to cover patients from all levels of society. Based on the actual situation of Chinese patient families and the perspective of technology promotion, we have developed a multifunctional toolbox product to meet different market demands with various offerings. At present, we are the only company capable of achieving this full coverage and enabling various patients to quickly match with suitable domestically produced products. This strategic layout makes the acceleration of commercialization not just an empty slogan but a genuinely effective approach."

While building a "large and comprehensive" full product line in the valve field, Trulive Medtech has also set its sights on the "small and beautiful" markets of heart failure and peripheral interventional non-implantable products. By supplementing its pipeline with easy-to-operate yet high-performance products, the company quickly achieves revenue breakthroughs, allowing the "large and comprehensive" and "small and beautiful" product lines to complement each other. This strengthens the company's product portfolio, enhances its self-sustaining capabilities, and comprehensively promotes the coordinated development of the company’s entire product line.

Currently, Trulive has made initial achievements in its comprehensive layout of the cardiovascular interventional device field. Multiple interventional products have successively initiated clinical trials, with smooth progress in project research. Several products will achieve the first of their kind in China. After completing financing, Trulive continues to increase investment in product development, adhering unwaveringly to a high-end, precision, and advanced development orientation. Driven by technological innovation, the company overcomes challenges and vigorously promotes the domestic production of high-end medical devices in China. It is focused on building a top-tier national brand and advancing the growth and development of China's high-end cardiovascular medical device sector.

Mr. Zhou Hao, Managing Partner of Daohe Long-Term InvestmentTrulive has developed a complete full-series of replacement and repair products for mitral, tricuspid, and aortic valves in the cardiac valve field, extending its reach to other areas such as structural heart disease and peripheral vascular diseases. It has grown into an outstanding cardiovascular platform company. The R&D and clinical efficiency of the company’s team, the cooperative ecosystem established with top domestic and international clinical doctors, and their unique understanding of the cardiovascular treatment market have left a deep impression on us. Upholding the philosophy of long-term investment and fully leveraging the advantages of asset allocation, Daohe is committed to accompanying the company through its entire lifecycle, helping it continuously provide internationally leading integrated cardiovascular disease treatment solutions to a wide range of doctors and patients in China.

Mr. Hu Xuyu, Managing Partner of Ji Feng CapitalWe are optimistic about the long-term development of innovative cardiovascular interventional devices in China. Trulive, as one of the few innovative companies with full coverage across the four golden tracks—valves, heart failure, peripheral, and coronary—has a product portfolio that spans high-end, mid-range, and low-end markets. Moreover, its key products have either entered or are about to enter clinical trials, making it a company truly capable of perfectly combining R&D with commercialization. We are willing to join hands with Trulive to strive to build the company into a leader in China's innovative cardiovascular interventional devices, bringing benefits to more patients.

Mr. Hu Qisheng, Chairman of Ancheng CapitalStated: Trulive Medtech has consistently adhered to a development model driven by clinical needs and innovation through research and development, making it one of the leading platform-based innovative companies in China with forward-looking R&D capabilities. The company’s team demonstrates comprehensive, strategic, and forward-thinking approaches towards the future development of major cardiovascular disease fields. Its current strong R&D capabilities and commercial operational abilities are compelling evidence. We look forward to the company’s rapid growth in the future, continuously pushing the boundaries of innovation to become a shining new star among high-end interventional medical device innovators in China.