Lifetech Scientific and Medtronic Deepen Strategic Collaboration on Pacemakers, Ushering in a New Era of Domestic MRI-Compatible Pacing

Shenzhen, December 16, 2021 /PR Newswire/ -- On December 16, 2021, Lifetech Scientific Corporation (01302.HK) announced that it has reached an agreement with Medtronic to "further expand‘"Xintong's Strategic Cooperation Project for China-Made Pacemakers" Completes Series of Supplementary Agreements; Both Parties to Launch Project Collaboration on China-Made MRI-Compatible Pacing Systems in Response to the Growing Treatment Needs in the Chinese Market, Aiming to Accelerate the Commercialization of New Cooperative Products in China and Lead China-Made Pacemakers into a New Era of MRI-Compatible Pacing.

The scope of this agreement also includes extending the cooperation period of the "Xin Tong" domestically-produced pacemaker project to 2028. In addition, under the new supplementary cooperation agreement, Medtronic will provide a series of professional technical consulting services for this MRI-compatible pacemaker system project and waive royalty fees for corresponding products under specific conditions.

MRI (Magnetic Resonance Imaging) is considered the "gold standard" for diagnosing tumors, neurological disorders, and cartilage and joint diseases. However, the powerful magnetic field environment during an MRI scan can affect traditional pacemakers by causing issues such as increased threshold levels, casing vibrations, and elevated lead tip temperatures, potentially leading to serious problems like myocardial damage and arrhythmia in patients. Therefore, MRI has long been regarded as an absolute contraindication following the implantation of traditional pacemakers.

Data shows that the number of patients in China who are currently suitable for pacemaker implantation therapy has exceeded one million. As the degree of aging continues to deepen, the demand for MRI examinations among these patients will increase. MRI-compatible pacemakers can meet the needs of patients for MRI examinations after the implantation of a cardiac pacemaker. Meanwhile, the "2021 European Society of Cardiology (ESC) Guidelines for Cardiac Pacing and Cardiac Resynchronization Therapy" have upgraded the implantation of MRI-compatible Cardiac Implantable Electronic Devices (CIED) to a Class I recommendation.Previously,All MRI-compatible pacemakers currently available in China are imported brands. The MRI-compatible pacemaker system resulting from the collaboration between Lifetech Scientific (Shenzhen) Co., LTD. and Medtronic will fill the gap for domestically produced devices in this field upon its approval and market launch.

Mr. Xie Yuehui, Chairman of the Board and Chief Executive Officer of Lifetech Scientific, stated: "This collaboration represents a significant step forward in the localization of pacemaker production between Lifetech Scientific and Medtronic. Leveraging Medtronic's globally leading technology and Lifetech Scientific's strong local advantages, as well as the extensive cooperation experience both parties have accumulated in the Chinese market over the years, we are confident and look forward to Lifetech’s MRI-compatible pacemaker system soon providing Chinese patients with treatment options that reflect internationally top-tier technical standards and superior quality based on domestically produced medical devices. This will make advanced locally-produced pacemaker therapies more accessible."

Mike Marinaro, President of Medtronic's Cardiac Rhythm Management Business, said: "Medtronic and Lifetech Scientific have been cooperating for nearly a decade, through which both parties have...‘The success of the CoreTone™ series of implantable cardiac pacemakers has further deepened its development in the Chinese market. We are very pleased to further expand our cooperation and jointly bring a domestically produced MRI-compatible pacemaker system to Chinese patients.

The strategic cooperation on pacemaker systems between Lifetech Scientific and Medtronic began in 2014. Both parties integrated advantageous resources in the Chinese market and collaborated closely to rapidly advance the domestically produced pacemaker project. In December 2017, Lifetech successfully launched the "Xintong" HeartTone™ series of implantable cardiac pacemakers, including accompanying pacing leads and programmers, which isFirst DomesticA pacing system with fully automated functions provides patients with a complete pacing solution. This deepened cooperation will further meet the rapidly growing demand for MRI-compatible pacing therapy in China, effectively improving the quality of life for a large number of bradycardia patients, and allowing more people in need to have a strong "Chinese heart."

About Lifetech Scientific:

Lifetech Scientific (Shenzhen) Co., LTD. is a leading enterprise in the field of minimally invasive interventional medical devices for cardiovascular, cerebrovascular, and peripheral vascular diseases. Established in Shenzhen, China in 1999, it is a national high-tech enterprise. The company’s research and sales products cover structural heart disease, peripheral vascular disease, cardiac rhythm management, oncology, and respiratory fields, and it ownsWorld's FirstThe iron-based bioabsorbable material platform has achieved independent innovation and technological breakthroughs in multiple niche fields, with a total of 14 products approved for entry into China's "Special Review Procedure for Innovative Medical Devices." Currently, the company's sales network covers more than 100 countries and regions worldwide, making it one of the few highly internationalized Class III interventional medical device enterprises in China.