Suzhou Xinling MedTech Secures Nearly RMB 100 Million Series A Funding to Accelerate Development of Percutaneous Ventricular Assist Device Platform

VCBeat has learned that HearHill has secured nearly RMB 100 million in funding, led by Beijing Alwin Asset Management, Ltd., with TF Capital, the investor from the previous round, continuing to follow on. The proceeds from this round will primarily be used to advance the R&D, clinical trials, and team expansion for its next-generation percutaneous ventricular assist device (pVAD).

According to reports, HearHill is a leading enterprise in China's transcatheter heart pump industry and has developed multiple percutaneous ventricular assist devices (pVADs) with independent intellectual property rights. Currently, its products have completed design finalization and undergone multiple rounds of animal trials, preliminarily verifying their safety and efficacy. They are expected to enter the clinical trial phase in 2022.

In addition to transcatheter artificial heart pumps, HearHill is also actively developing cutting-edge international technologies in the structural heart disease field, striving to establish a cardiovascular innovation product platform centered on life support. Less than a year after its establishment, HearHill has filed over 20 patents and secured Freedom to Operate (FTO) reports from multiple top-tier patent law firms.

Percutaneous ventricular assist devices (pVADs) have gained widespread recognition and clinical adoption among physicians in developed countries across Europe and the United States. U.S.-based Abiomed ships tens of thousands of units annually, with last year's revenue exceeding $700 million and a market capitalization of $16 billion. Abiomed's flagship product, Impella, briefly entered the Chinese market and received widespread acclaim from physicians who utilized it. However, its prohibitively high pricing far exceeds the affordability of patients in China.

Targeting indications such as high-risk PCI, cardiogenic shock, and heart failure, HearHill has independently developed a transcatheter artificial heart pump that is affordable for patients in China. The product has finalized its design and undergone multiple rounds of animal trials, earning positive feedback from the physicians participating in the studies.

To date, the HearHill team has completed the accumulation of its core technologies. Its R&D team comprises professionals from diverse industries, including structural heart devices, medical equipment, aerospace, underwater robotics, and automotive engineering. Although the average age of the R&D team is just 33, many of its core members possess end-to-end experience in guiding high-risk Class III innovative medical devices from R&D through clinical trials. Throughout the development process, the team has fully leveraged its up-to-date knowledge framework and robust execution capabilities.

Recently, HearHill was invited to the 15th Qianjiang International Cardiovascular Conference, where it presented for the first time the R&D and animal trial results of China’s first independently developed transcatheter artificial heart pump. This also marks the first time a product of its kind has been publicly introduced to physicians in China.

HearHill FounderStated: We sincerely appreciate all investors for their recognition of our team and products. HearHill has secured multiple rounds of investment from top-tier healthcare funds within the past six months. The transcatheter artificial heart has a diameter of only a few millimeters, featuring minimal implantation trauma, a short recovery period, and a short learning curve for physicians. Clinicians familiar with minimally invasive interventional procedures are fully qualified to perform the operation. Comparable international products have already been extensively validated in areas such as high-risk PCI and cardiogenic shock. At the request of other funds, HearHill will launch its next financing round in the near future, with the proceeds allocated to the simultaneous initiation of multiple clinical trials.

Alwin Capital Partner Liu JiayunStated: Given the substantial unmet clinical needs in high-risk PCI procedures and cardiogenic shock treatment, transcatheter artificial heart pumps hold immense clinical value. The newly established HearHill is an R&D platform company dedicated precisely to this field, comprising a team of young engineers with strong execution capabilities and a global perspective. Currently, the company has finalized multiple product designs that have demonstrated promising preclinical trial data. Alwin is highly optimistic about HearHill’s future development and looks forward to the company rapidly advancing its products from R&D to commercialization to benefit more patients.

Zhang Yibo, Medical Device Investor at TF CapitalIndicates: HearHill was established less than a year ago, and its team has rapidly expanded from 5 to over 30 members, establishing an R&D-centric team with strong execution capabilities and rapid product development. The cardiac pump progressed from project initiation to prototype finalization and testing in under a year, and is expected to enter clinical trials in 2022. Percutaneous ventricular assist devices (pVADs) have been used overseas for many years, with adoption increasing annually. However, due to factors such as pricing, they have been slow to gain widespread market penetration in China. In our view, HearHill is a company capable of rapidly achieving production in China for such life-saving devices.

Alwin Capital is a specialized investment fund focusing on the frontier areas of life sciences. The core management team of Alwin Capital originates from the investment and research divisions of China's top financial institutions, bringing extensive investment and research expertise in the healthcare and pharmaceutical sectors. Guided by a profound understanding of scientific research and portfolio management, Alwin Capital has established a systematic investment layout across cutting-edge life sciences, successfully cultivating industry-leading enterprises in multiple specialized sub-sectors.

Taifu Capital focuses on venture capital investments in the life sciences sector, primarily targeting promising early-stage and growth-stage companies. Through a diversified and strategic investment layout and by partnering with high-quality collaborators, the firm aims to capitalize on opportunities presented by the rapid development of China's life sciences industry. Backed by years of experience and extensive industry resources in these fields, the investment team is dedicated to achieving rapid growth alongside its portfolio companies.