Spectrum Medical Secures RMB 100 Million Series A Financing to Accelerate Development in Advanced Powered Cardiovascular Intervention

VCBeat (WeChat ID: vcbeat) learned第一时间 that Spectrumedics Medical Technology (Shanghai) Co., Ltd. ("Spectrumedics") has recently completed its A round of financing worth hundreds of millions of RMB.This round of financing was led by Legend Capital, with participation from Bocui Capital and Huaide Capital. The original shareholder, Yangyun Capital, continued to support.It is reported that the funds raised in this round will be used to support the company's two ongoing clinical studies of shockwave catheter products, upgrade the technology innovation platform, expand the product pipeline, and increase production capacity.

Spectrumedics was founded in March 2019, with its headquarters located in Shanghai. It is a medical technology company focused on building a high-end active cardiac and vascular intervention technology platform.Its first product launched is the Sonico intravascular shockwave balloon catheter system, which was independently developed by the company and has received patent authorization. The system is primarily used for the treatment of arterial vascular calcification.

The Sonico balloon catheter's unique core patented technology can emit shockwave energy in a full 360-degree manner, uniformly cracking circular calcified plaques. According to currently available clinical data, the Sonico product is safe, effective, and can quickly and easily address the pain point of severe arterial calcification in vascular interventional treatments. In November 2021, the company launched China’s first domestically produced peripheral intravascular lithotripsy system for registration clinical trials, and in December, it initiated the first clinical enrollment for the coronary intravascular lithotripsy system.

Dr. Huiqun Peng, founder and CEO of Spectrumedics, has worked at a well-known overseas medical device incubator and has been deeply engaged in the innovation of cardiovascular interventional and implantation technologies for many years. He possesses extensive experience in original device development, project implementation, and technology transfer, with over 10 related articles published in several internationally renowned academic journals and more than 10 invention patents to his name. Dr. Peng actively promotes the integration of medicine and engineering, having collaborated extensively with internationally acclaimed cardiothoracic surgeons and cardiologists to co-develop several globally pioneering medical devices.

Regarding this round of financing, Dr. Peng Huiqun stated:"Thanks to both new and existing investors for their trust in Spectrumedics and recognition of our product development philosophy. The addition of Legend Capital provides the company with more abundant resources, along with the continued investment from Yangyun Capital, further enhancing the overall development of the company. Arterial calcification has always been one of the biggest challenges in vascular interventional therapy, and we believe that Spectrumedics' shockwave balloon technology has the potential to usher in a new era in vascular calcification treatment. We also look forward to bringing this product to market as soon as possible, allowing patients to benefit sooner. Since its establishment, Spectrumedics has adhered to the philosophy of driving medical device innovation through cutting-edge technology, continuously optimizing and advancing core technologies. Systematic product planning and application expansion around this technology aim to provide doctors and patients with superior solutions in the field of cardiac and pan-vascular interventions."

Jia Xu, Investment Director of Legend Capital, stated:"Shockwave balloon pretreatment for vascular calcification lesions is becoming a global consensus among clinicians. This technology can be widely applied in multiple fields such as cardiovascular and peripheral vascular, and has been highly valued by clinical experts in China. The technical capabilities of the Spectrumedics team are solid, with an international perspective, and their clinical protocols have received significant attention and positive responses from top domestic experts. It is hoped that through the team's efforts, product commercialization can be achieved as soon as possible to bring real clinical benefits to patients."

Mr. Wang Sheng, founding partner of Yangyun Capital, said:"We have been supporting Spectrumedics in industrializing the interventional shock wave technology since the angel stage to fill the gap in this field in China. Currently, the clinical performance of the product has exceeded expectations and is very exciting. We remain optimistic about the application of the shock wave balloon in coronary and peripheral fields and are even more confident in the company's innovation capabilities. We look forward to Spectrumedics, under the leadership of Dr. Peng, bringing more good news and quality products to doctors and patients."

Spectrumedics is a medical technology company that focuses on integrating active technology with minimally invasive interventional therapies for the heart and blood vessels. The core team members have multidisciplinary professional backgrounds, including electrical, mechanical, acoustics, bioengineering, and biomaterials, and they have in-depth cooperation with several internationally renowned medical experts. Headquartered in Shanghai, with a research and development base in Singapore, the company has complete research and development, testing, and production capabilities.

Legend Capital was founded in April 2001 and is a fund management company under Legend Holdings, focusing on early-stage venture capital and growth-stage private equity investment. Over the course of twenty years, Legend Capital has adhered to internationally accepted standards, creating best practices in fund operations and management.

Legend Capital promotes enterprise innovation and growth through its proactive value-added service system. While continuously generating good investment returns in multiple investment fields, it also drives industrial progress and social development in China.

Legend Capital envisions "becoming an investment company with international influence" and adheres to the core values of "prosperity with integrity," actively fulfilling social responsibilities.

Sunmed Capital is a venture capital firm focused on investing in early-stage innovative medical device companies. Its management team consists of seasoned professionals with deep expertise in the medical device industry both in and outside China. Currently, Sunmed Capital has invested in several high-quality enterprises. Sunmed Capital always considers itself as part of the invested companies, working closely with founders to deeply empower these enterprises and grow together, bringing better products to patients and doctors in China as soon as possible.