Haofeng Medical, a Pioneer in Interventional Medical Device CDMO, Completes Pre-A Funding Round and Files IPO Prospectus

VCBeat learned第一时间 that Shanghai Hao Feng Medical Technology Co., Ltd. (hereinafter referred to as "Haofeng") announced the completion of a Pre-A round of financing worth tens of millions of yuan.This round of financing was led by Select Capital, with Limai Medical Fund participating. The funds raised will be used for the construction of the polymer materials platform, capacity expansion, and talent recruitment within the CDMO platform, in order to better meet the growing demand for CDMO services from global interventional medical device brands.

Haofeng Medical is a group-type platform company focusing on CDMO services for interventional medical devices. According to the service needs of the CDMO industry chain, it has four wholly-owned subsidiaries: MedCore Medical Technology (Shanghai) Co., Ltd. ("MedCore Medical"), Shanghai Haoli Precision Machinery Co., Ltd. ("Haoli"), Shanghai Chongzhan Intelligent Technology Co., Ltd. ("Chongzhan"), and Shenzhen Chongzhan Intelligent Technology Co., Ltd. ("Shenzhen Chongzhan"). The company is committed to serving global high-end interventional medical device brands. With a professional R&D team, a comprehensive quality management system, and lean production management, it provides customers with full lifecycle management and manufacturing services from product development and design, pre-registration production to post-market contract manufacturing, as well as customized intelligent production lines for customers.

Chongzhan and Haoli have obtained the National High-tech Enterprise certification. Meduke Medical and Haofeng Medical will also complete the National High-tech Enterprise certification in 2022. All products of Haofeng Medical possess full independent intellectual property rights. The company has obtained 85 national authorized patents, passed the ISO9001 and ISO13485 quality management system certifications, and some production products have obtained CE certification. The company has completed trademark brand registrations for "Haoli," "Chongzhan," "Meduke M-Duke," and "Haofeng Medical."

Haofeng Medical occupies a leading position in the market share within the field of intelligent manufacturing equipment for interventional medical devices. The production line equipment for access devices (interventional micro-guidewires, interventional catheters, balloon catheters) has fully achieved the replacement of imported products with domestically produced ones. At the same time, it has obtained CE certification and is exported overseas. Notably, its hydrophilic coating equipment has gained recognition from the international raw material giant Royal DSM of the Netherlands. DSM has promoted Haofeng Medical's hydrophilic coating equipment and supporting testing equipment to its global customers.

Haofeng Medical has been deeply engaged in the fields of neurology, coronary, and peripheral support devices. From product structural design to material selection, and to process exploration, they have continuously conducted in-depth research, establishing three major product platforms: interventional micro guidewires, interventional catheters, and balloon catheters. Based on these three platforms, Haofeng has built technology development platforms including special material welding technology, material forming technology, precision assembly processing technology, and surface functional hybridization technology. Among them, the interventional micro guidewire product platform has constructed a production line with complete independent intellectual property rights through process exploration and detailed development. With meticulous 36 processing steps, they have crafted neuro micro guidewires with excellent compatibility, smoothness, and flexibility, which have received unanimous praise in clinical evaluations. This production line...Officially launched in 2022, with the first year's production reaching 40,000 units., challenging the localization rate of less than 5% in this market, to create greater value for many partners.

Haofeng Medical CDMO Platform Brings Together Equipment Platform, Medical Device Consumables Platform, and Active Medical Device PlatformIn the past, Haofeng has successfully developed cutting-edge medical devices and active equipment for customers, including cryogenic series equipment and consumables, valve delivery systems, steerable catheters, micro guidewires, and shockwave balloons. In the future, the addition of a polymer materials platform after financing will enable Haofeng to provide services to customers more efficiently and economically amidst tight international supply chains. As the company continues to grow, it plans to complete its IPO filing by 2025, leveraging the power of the capital market to make greater contributions to domestically produced medical devices in China.

Liu Chunjie, Chairman of Haofeng Medical, said"Over the nearly ten years since the establishment of the group's first company, the Haofeng team has adhered to the original mission of creating a high-quality, efficient, and comprehensive medical device service industry chain to maximize value for our partners. We have evolved from a supplier of interventional medical production equipment into a CDMO service provider. Moving forward, our team will continue to strive towards establishing Haofeng Medical as the leading CDMO brand in the medical device industry, becoming the most trusted strategic partner for global medical device manufacturers."

Dr. Chenxi Ning from Shicui Capital stated: "We are honored to have the opportunity to collaborate with the Haofeng team led by Mr. Liu. Haofeng Medical is positioned upstream in the cardiovascular and cerebrovascular implantable and interventional device industry, while also extending into multiple other high-value medical device sectors. It provides downstream customers with a series of solutions ranging from customized production equipment development to product CDMO services. In recent years, its business has grown rapidly and gained favor from many leading downstream enterprises. As the downstream industry experiences rapid growth in scale and gradual improvement in maturity, upstream domestically-produced companies are encountering excellent development opportunities. As a leader in this field, we look forward to Haofeng Medical’s outstanding performance."

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