MicroPort CardioFlow Medtech-B (02160.HK) Announces Additional Investment in 4C Medical and Secures Exclusive Commercial Rights for 4C’s Tricuspid Valve Product in Greater China

Zhitong Finance APP reports: MicroPort CardioFlow-B (02160) announced that, pursuant to the Series C Preferred Stock Purchase Agreement dated November 4, 2021, entered into by 4C Medical Technologies, Inc. ("4C Medical"), the Company and other co-investors, the Company has agreed to make an additional investment of up to USD 25 million in 4C Medical, subject to the terms and conditions set forth in the share purchase agreement.

Following the completion of the Additional Investment, the Company (together with its wholly-owned subsidiary, Derryhill Global Limited) will become the largest shareholder of 4C Medical. Upon completion of the Additional Investment, 4C Medical will not become a subsidiary of the Company. The other shareholders of 4C Medical primarily consist of other individual and institutional investors (including its management team).

As a key inducement for the additional investment, 4C Medical has also agreed to grant the Company exclusive commercialization rights in mainland China, Hong Kong, Macau and Taiwan for 4C Medical’s pre-clinical stage tricuspid valve product (the “4C Tricuspid Valve Product”). 4C Medical and the Company will enter into a tricuspid valve product commercialization agreement and will develop and distribute the 4C Tricuspid Valve Product under terms and commercial arrangements substantially similar to those of the AltaValve™ Agreement.

The Company remains committed to providing accessible, high-quality solutions for the treatment of structural heart disease through independent R&D and collaboration with global partners. The primary drivers for the Company’s additional investment in 4C Medical are the favorable results from its recent R&D, along with the business synergies and clinical collaborations facilitated by its pipeline products. The Company believes that 4C Medical’s pipeline products (including the 4C tricuspid valve product) will further enrich its product portfolio for the vast, yet-to-be-tapped market in China.

The Company believes that the additional investment and licensed introduction of the 4C tricuspid valve products are in the overall interests of the Company and its shareholders.