Grand Pharmaceutical Secures Exclusive Rights to Global Innovative Heart Failure Medical Device

Source: China Securities Journal · China Securities Network

China Securities Journal Network News (Reporter: Kang Xi) Grand Pharmaceutical Group Limited announced on the evening of August 5 that the company has entered into a strategic equity and product cooperation with the U.S.-based CoRISMA MCS Systems, Inc. (hereinafter referred to as "CoRISMA"). Grand Pharmaceutical Group Limited will invest USD 12 million to acquire an approximately 22.2% equity stake in CoRISMA, and will obtain the exclusive rights to develop, manufacture, and commercialize the CoRISMA series of innovative medical devices for the treatment of heart failure in China and multiple Southeast Asian countries and regions.

The CoRISMA product is another globally innovative product developed by Grand Pharmaceutical Group Limited in the precision intervention field, following its drug-coated balloons for vascular intervention, thrombectomy stents for neurointervention, vascular and intracardiac diagnostic equipment, and laser ablation platform. It marks a significant strategic step in the company’s efforts to build an internationally leading precision interventional diagnosis and treatment platform for cardiovascular and cerebrovascular diseases. Precision interventional diagnosis and treatment for cardiovascular and cerebrovascular diseases is one of Grand Pharmaceutical Group Limited’s core strategic sectors. In this domain, the company has established a comprehensive strategic presence across five strategic markets: vascular intervention, neurointervention, structural heart disease, electrophysiology, and heart failure, forming a cluster of technologically innovative high-end medical device products. Upon completion of this transaction, Grand Pharmaceutical Group Limited will have nine products covering these five strategic markets. Among them, two have already been approved for marketing in China, and six are expected to receive marketing approval in China by the end of 2025.

The announcement indicates that CoRISMA, founded in 2018, is an innovative medical device company incubated by Yale University's Bonde Artificial Heart Laboratory, specializing in the development of globally innovative medical devices for patients with severe heart failure.

The announcement indicates that over the past 15 years, the overall prevalence of heart failure in China has increased by 44%. Meanwhile, with the accelerating aging of China's population, the incidence of chronic diseases such as coronary heart disease, hypertension, diabetes, and obesity—which can cause or trigger heart failure—is on the rise. As the number of heart failure patients continues to grow, the market potential for China's heart failure industry remains enormous.

The announcement stated that patients with end-stage heart failure can benefit from continuous mechanical circulatory support, primarily including heart transplantation (HTX) or ventricular assist devices (VADs). However, VAD devices currently in common clinical use are associated with numerous complications, such as pump thrombosis, stroke, and VAD-related infections, which greatly limit their clinical application.

The CoRISMA product, strategically deployed by Grand Pharmaceutical Group Limited, is a fully implantable transcatheter device wirelessly powered by state-of-the-art energy transmission technology. Delivered via minimally invasive surgery, it provides a therapeutic solution for patients with end-stage heart failure characterized by minimal trauma, a high safety profile, freedom from driveline infections, and reduced complications.

Grand Pharmaceutical Group Limited stated that the acquisition of the CoRISMA product will further enrich the company's product pipeline in the field of precision cardiovascular and cerebrovascular interventions, and establish an overseas R&D platform for its precision intervention segment. In the future, the company will continue to prioritize patient needs and harness technological innovation as its core driving force. Addressing unmet clinical needs, it will increase investment in global innovative products and advanced technologies, continuously enrich and optimize its product pipeline and industrial layout, fully leverage its industrial strengths and R&D capabilities, and accelerate the commercialization and market launch of innovative products, thereby providing patients worldwide with more advanced and diverse treatment options.