CH Biomedical Secures Hundreds of Millions RMB in Series D Funding Led by Sequoia China, Files for STAR Market IPO

BrioHealth Solutions announced that it has recently completed a Series D financing round amounting to several hundred million RMB. The proceeds will be utilized to advance the ongoing clinical research and commercialization in China of the ventricular assist device (VAD) independently developed by BrioHealth Solutions, as well as to facilitate the company's strategic global commercialization layout. The round was led by Sequoia China, with participation from Lighthouse Capital, Lingdao Capital, Suzhou Longmen Venture Capital, and others. Existing shareholders, including Baiyang Pharmaceutical Group and Houxin Health Investment, made follow-on investments to continue their support.

Founded in July 2008, BrioHealth Solutions is dedicated to the research and development of internationally leading Ventricular Assist Device (VAD) products, driving the global commercialization of VADs to benefit a vast number of patients with end-stage heart failure. For a long time, patients with end-stage heart failure have lacked effective treatment options. Existing pharmacological therapies and cardiac rhythm management devices are unable to reverse disease progression, while heart transplantation remains inaccessible to the general public due to severe donor shortages. Consequently, VADs have emerged as the only hope for these patients to effectively prolong survival and improve their quality of life. Over the past decade, VAD technology has achieved significant breakthroughs. Clinical application has advanced rapidly in developed countries, establishing VADs as the standard of care for end-stage heart failure. With continuous technological iterations, VADs based on fully magnetically levitated technology have been recognized as the industry's latest generation. Demonstrating breakthrough therapeutic efficacy, they have secured a dominant market position.

As a global leader in this field, BrioHealth Solutions has successfully developed the ultra-compact, fully magnetically levitated artificial heart CH-VAD after more than a decade of dedicated efforts. All key performance indicators of the device have reached internationally advanced levels. CH-VAD pioneered clinical application in China, delivering highly encouraging therapeutic outcomes and establishing a historic milestone for the clinical application of artificial hearts in China.

Dr. Chen Chen, Founder and Chairman of BrioHealth Solutions, stated: “As entrepreneurs, BrioHealth Solutions is committed to providing patients with end-stage heart failure with breakthrough VAD technology, not only freeing them from the shadow of death but also enabling them and their families to regain a healthy and joyful life. Upholding a bold pioneering spirit in fundamental innovation and a steadfast dedication to perfecting a single product, we have successfully developed a new durable VAD based on full magnetic levitation technology after more than a decade of persistent effort. Its superior performance has been consistently recognized by top experts worldwide, and its commercialization is progressing smoothly, solidifying our leading position in the global artificial heart sector. We are delighted to have earned the trust of top-tier industry investors such as Sequoia China and Qingchi Capital, and we extend our sincere gratitude to our existing shareholders for their long-standing trust and support. We will continue to drive technological advancements and service enhancements in artificial hearts globally, while continuously expanding their clinical applications.”

Mr. Cao Yibo, Managing Director of Sequoia Capital China Fund, stated: “BrioHealth Solutions' left ventricular assist devices feature multiple independently developed designs and deliver globally leading performance. In China, they have successfully extended the lives of numerous patients with severe heart failure, enabling them to maintain a normal and active quality of life. Looking ahead, Sequoia China will continue to support the company's development, particularly in driving its overseas business expansion, with the hope that its products will benefit more people in need.”

Ms. Qian Ranting, PE Partner at Qingchi Capital, stated: “Beyond heart transplantation, artificial hearts offer another hope for sustaining the lives and improving the quality of life for patients with heart failure. As the ‘crown jewel’ of the cardiovascular industry, artificial heart technology involves exceptionally high barriers to entry. BrioHealth Solutions is the only company globally, apart from Abbott, that possesses mature fully magnetically levitated artificial heart technology. The company holds complete, independent global intellectual property rights for its artificial heart product, CH-VAD. With the forthcoming commercial launch of BrioHealth’s artificial hearts in both China and the United States, Chinese enterprises will not only demonstrate a cost advantage but will also be capable of competing on par with premier international corporations like Abbott in terms of technical product performance. Qingchi Capital is immensely proud to support the BrioHealth team, led by Dr. Chen Chen and Dr. Lin Feng, in developing the ‘Chinese heart’.”

Mr. Fu Gang, Chairman of Baiyang Pharmaceutical Group and an existing shareholder, stated: “BrioHealth Solutions boasts a top-tier expert team and has mastered cutting-edge artificial heart technology. Since its inception, it has represented the leading R&D capabilities for artificial hearts in China and globally. In this rapidly developing emerging field, BrioHealth Solutions fully possesses the strength of a market leader, and I believe it will usher in a new era of surgical treatment for heart failure in China. As an ‘industrial investor’ in the healthcare innovation sector, Baiyang has been optimistic about BrioHealth Solutions’ development from the very beginning, and this already marks our fourth round of investment. Going forward, Baiyang will continue to support BrioHealth Solutions as always. Leveraging the synergies of the Baiyang ecosystem, we will provide comprehensive support to BrioHealth Solutions in areas such as industry resource alignment, market channel operations, and talent cultivation and recruitment, enabling ‘Made in China’ artificial hearts to beat worldwide and letting the power of technology benefit all humanity!”

Sequoia Capital has always been committed to helping entrepreneurs build enduring great companies, bringing abundant global resources and invaluable historical experience to its portfolio firms. Over the past 49 years, Sequoia Capital has invested in numerous innovative enterprises and leaders shaping industry trends. As “the entrepreneur behind the entrepreneur,” Sequoia Capital China focuses on investment opportunities in three key sectors: TMT, Healthcare, and Consumer Goods & Services. Over the past 16 years, Sequoia Capital China has invested in nearly 600 companies characterized by distinct technological features, innovative business models, and high growth and development potential.

Based in Hong Kong and Shanghai, China, Lake Bleu Capital is an investment platform dedicated to the healthcare sector, with assets under management reaching billions of US dollars. Its secondary market USD fund stands as one of the largest healthcare-focused secondary market funds in Asia. Recognized for its exceptional investment track record, the fund has been repeatedly honored by authoritative institutions as the Best Secondary Market Fund in Asia and won the AsiaHedge "Best Secondary Market Fund Over the Past 5 Years: Over $500 Million Category" award in 2020. Additionally, Lake Bleu Capital is highly active in mid-to-late stage private equity investments within China's healthcare industry. It has successfully invested in over 40 outstanding growth-stage enterprises, delivering comprehensive value-added services in capital operations, strategic partnerships, and other key areas to safeguard and support their sustained development.

Lingdao Capital focuses on long-term equity investment opportunities in the Asia-Pacific region, with a strategic emphasis on growth-stage innovative enterprises in the biomedical and intelligent technology sectors. The firm simultaneously manages RMB and USD funds, aiming to uphold a medium-to-long-term perspective and vision to identify and strategically invest in domestic and overseas enterprises possessing cutting-edge technologies in these relevant fields, while continuously exploring and refining effective long-term capital investment models.

Suzhou Longmen Capital is an emerging venture capital fund focused on "innovative drugs and innovative medical devices," with the vision of "helping Chinese innovative pharmaceutical enterprises expand globally and give back to society." The core team members possess over 25 years of industry experience, having led investments totaling tens of billions of RMB. Suzhou Longmen Capital has already invested in multiple high-quality enterprises, including Bioray Pharmaceuticals (688166), Changfeng Pharma, PTM Biolabs, HaiChuang Pharma, Actinobac Medicine, Genfleet Therapeutics, WeMai Medical, and Bonokangyuan.

Baiyang Pharmaceutical Group is a diversified corporate group centered on the health industry, dedicated to investing in health brands, corporate equity, and healthcare-related real estate. Built on brand and platform capabilities, driven by asset appreciation, and characterized by innovation incubation, the Group has evolved into an innovative resource integration platform for the health sector, encompassing a health brand commercialization platform, industrial investment and incubation, and healthcare real estate. Within its investment division, the Baiyang Zhongxin Fund operates as an incubator for innovative health enterprises, committed to establishing a professional, market-oriented, and standardized open fund management platform. It provides comprehensive support to innovative companies in the broader healthcare ecosystem, covering domestic and international industrial resources, capital, branding, marketing, and management.

Houxin Health Investment is a private equity firm specializing in investments across livelihood-related industries. Jointly established by a professional management team and New Hope Group, it operates under the investment philosophy of “One Health For One Hundred Year Life (One For One)”, with New Hope Group serving as a cornerstone investor and key industrial backer. The firm focuses on four core investment sectors: healthcare, biotechnology, food technology, and environmental technology. It primarily targets leading enterprises and high-growth companies in niche segments, strategically balancing minority equity investments with controlling operations. Emphasizing the cultivation of industrial ecosystems, Houxin Health Investment supports the ambitious, long-term development of its portfolio companies and is dedicated to creating sustained value for its investors.