Matrix Medical Secures Tens of Millions in Pre-A Funding to Advance Clinical Trials of Coronary Natural Vascular Scaffold

Recently, MARIX announced the completion of its Pre-A financing round, raising tens of millions of yuan.This round of financing was led by TusPark Ventures, with existing shareholder TigerYeah Capital participating as a follow-on investor.It is reported that the funds from this round of financing will be used to support the clinical validation of the company’s natural vessel stent series products, among whichCoronary Natural Vessel Stent to Initiate Clinical Trials Soon, while MARIX will further increase its R&D investment and launch more original medical devices tailored to the clinical needs of vascular disease treatment.

This September,MARIX and SinoShenChang Reach Strategic Cooperation on Vascular Occluder Products and Vascular Intervention Business, further accelerating product commercialization and refining its business layout. Since its establishment in 2021, MARIX has experienced rapid growth, making a strong entry into the vascular intervention market with numerous accolades, including “First Place in the Greater Bay Area Division of the 5th China Medical Device Innovation and Entrepreneurship Competition (2022)” and “First Place in the VINNOVA 2023 Innovation Contest at the Vascular Innovation Forum.”

Over the past two years, during which investment in the healthcare sector has become increasingly cautious, MARIX has secured additional funding from renowned institutions, following its tens-of-millions-yuan angel round in early 2022. Meanwhile, the company’s multiple product lines are advancing rapidly.The core product, the vascular closure device, has completed all clinical enrollment, and the natural vessel stent product is about to enter the clinical validation phase.。

Collaboration among medical, research, and industrial sectors is a crucial pathway for innovation in medical devices.Original Innovation Stems from Scientists, they have a solid foundation in basic research but lack experience in successful translation;Clinical Needs Drive Medical Device Innovation, and its applications are also being used in clinical settings.

As the bridge connecting the source of innovation with its end-user applications, Ji Peihong, founder of MARIX, has a clear vision for the company’s positioning: “We are building a platform for translating technological innovations into practical outcomes. This requires not only aligning advanced technologies with clinical needs but also providing scientific translation pathways, integrating translational resources, and offering industrialization support. True technological innovation originates from scientists, and we aim to help them identify effective clinical applications for their innovations, thereby crossing the ‘valley of death’ between scientific research and commercialization.”

This development philosophy gradually took shape alongside the founder’s academic and professional experiences.

With a background in materials science, he studied under Gu Zhongwei, an International Fellow of Biomaterials Science and Engineering and the Chief Scientist for biomaterials in China’s National 973 Program for three consecutive terms, and has established connections with numerous leading figures in the field of materials science.Professor Gu Zhongwei is dedicated to basic research and technological innovation in the fields of biomedical polymers, nanobiomaterials, controlled release systems for drugs/bioactive substances, tissue engineering, and bio-3D printing. He has successively presided over national scientific and technological projects, including the National 973 Program, the National 863 Program, international cooperation projects under the Ministry of Science and Technology, and key/general programs of the National Natural Science Foundation of China. Professor Gu has published more than 400 SCI-indexed academic papers in internationally renowned journals, been granted over 50 national invention patents, and established the only National International Science and Technology Cooperation Base for Biomedical Materials to date. He has also participated multiple times in discussions and contributed to the formulation of development plans and recommendations for China’s biomaterials sector.

During his early scientific research endeavors alongside Professor Gu Zhongwei and other scientists, Ji Peihong gained firsthand insight into the profound expertise accumulated by researchers in the fields of basic science and technological innovation, recognizing that many of their achievements held significant application value. However, at that time, the pathway for translating scientific achievements into practical applications was immature. Many enterprises lacked the awareness to delve deeply into technologies at their source, and issues such as imprecise translation demands and inadequate allocation of resources for commercialization were prevalent. Consequently, numerous leading technological innovations remained confined to laboratories, failing to achieve effective real-world application.

To explore pathways for translating scientific research achievements into practical applications, Ji Peihong participated in the founding of multiple enterprises. Over the ten-year period from 2012 to 2021,He successively served as the R&D head for multiple medical device companies, driving breakthroughs and development from 0 to 1 for both the enterprises and their core products.。“Medical devices are more about application innovation.“In the early stages of medical device development, companies could achieve robust growth by breaking through a few manufacturing processes. However, as the industry has matured, competition has intensified and products have rapidly become homogeneous. To stand out, companies must seek answers in core technologies and basic research.”

MARIX’s confidence in launching its initiatives stems from its team’s years of deep expertise in materials science, keen industry insights, and robust resources in both scientific research and clinical practice. In the familiar vascular intervention market, MARIX adheres to integrating “promising ideas,” “hardcore technology,” and “rigid demands.” By collaborating closely with numerous scientists and focusing on frontier technological innovations driven by clinical needs, MARIX promptly refines technologies and adjusts designs based on clinical applications, thereby developing a set of practical, implementable solutions.

Chen Xuesi, Academician of the Chinese Academy of Sciences and Researcher at the Changchun Institute of Applied ChemistryHaving dedicated many years to the fields of materials science and regenerative medicine, with a long-standing focus on the translational application of basic research findings, he stated, “The MARIX team started with medical materials to explore the application of innovative technologies in vascular interventional therapy, successfully translating these innovations into products that provide novel solutions for a broad population of patients with vascular diseases.”

How well MARIX’s team performs in providing platform services for technology transfer is a testament to their professionalism.The MARIX team comprises members with diverse backgrounds in medicine, mechanical engineering, and materials science. Over half of the team are R&D personnel, bringing extensive experience in industrialization.The team emphasizes a culture of innovation, believing that while technology and experience are essential, the spirit of “daring to think and act” is equally critical, particularly in exploring frontier technologies and application innovations. The company provides employees with ample room for development and systematic training management, noting that “even a small idea from a team member can lead to improvements in the clinical application of our products.”

Professor Gan Zhihua, Chair of the Branch of Biomedical Polymer Materials of the Chinese Society for Biomaterials and Vice President of Beijing University of Chemical TechnologyHighly affirmed MARIX’s investment in the integration of industry, academia, and research: “MARIX is committed to transforming national investments in basic research into industrial applications, which not only aligns with national needs but also fulfills scientists’ original aspiration to further benefit humanity through their research achievements.”

Leveraging both internal and external talent, MARIX has launched its series of natural vessel stent products for coronary, neurovascular, and peripheral applications. By being the first to recognize the innovative application of photo-activated materials and photo-crosslinking technologies in non-vascular therapeutic fields, as well as the clinical demand for "implant-free" interventions in vascular interventional therapy, MARIX spearheaded the research and development of natural vessel stents.

Taking coronary applications as an example, during the treatment process, balloon expansion can deliver a photosensitive material to the coronary artery wall. Subsequently, laser activation of the photosensitive material induces cross-linking of collagen in the vessel wall, forming a natural scaffold structure within the coronary artery to prevent restenosis. Finally, the balloon is withdrawn, leaving no foreign bodies within the coronary artery.Coronary natural vessel stent therapy not only improves the efficiency and efficacy of vascular recanalization, reduces the risks of thrombosis and restenosis, and minimizes patient trauma, but also maintains the existing operational workflow of balloon angioplasty, resulting in a short learning curve for physicians.

In 2022, nearly 1.3 million percutaneous coronary intervention (PCI) procedures were performed in mainland China, with the usage of drug-coated balloons rising year by year, accounting for 17.6% in 2022. According to MARIX, patients currently treated with balloons may experience vessel recoil, necessitating secondary treatment with stent implantation. However, coronary stent therapy involves the implantation of foreign bodies, which carries long-term risks such as thrombosis. Although bioresorbable scaffolds emphasize "trace-free" treatment, their product specifications are limited, and it is difficult to match the scaffold degradation cycle with the vascular remodeling process. The Natural Vessel Scaffold can replace the application of drug-coated balloons and certain metal stents through a novel therapeutic approach, achieving true "intervention without implantation."

Academician Chen Xuesi expressed high praise for MARIX’s natural vascular stent product, noting that it breaks away from existing technical paradigms and pioneers an entirely new R&D pathway.

TusPark Ventures, the lead investor in this financing round, also stated: “For a long time, there has been a lack of truly innovative therapeutic products for coronary artery stenosis. Existing stents and balloons still have certain clinical limitations. MARIX’s coronary natural vessel stent, currently in clinical trials, is the first globally to apply photochemical reactions to the treatment of coronary stenosis. We are highly anticipatory of such an innovative and somewhat revolutionary product.”

According to publicly available information,Currently, only one U.S. company, Alucent Biomedical, is developing natural vascular stents for the treatment of peripheral artery disease, with no similar products available in China.MARIX’s coronary natural vessel stent and intracranial natural vessel stent are global firsts, with the former set to commence clinical trials in the near future.

Driven by centralized procurement and DRG policies, the vascular intervention sector no longer supports the logic of relying on blockbuster products to sustain a multi-billion-dollar market. Amid intensifying competition, startups must not only pursue technological innovation but also achieve financial self-sufficiency to support long-term development.

Therefore, in the field of vascular intervention,MARIX adopts the business strategy of “breakthrough innovation + rapid product commercialization”The clinical validation cycle for breakthrough innovative products is lengthy, representing a long-term strategic goal set by the company. In the process of achieving this goal, it is essential to have products that can be rapidly commercialized. These products will not only help the company achieve financial self-sufficiency as soon as possible but also enable the team to grow quickly, evolving into a professional workforce capable of supporting the entire product development lifecycle.

MARIX’s natural vascular stent product series is a key “breakthrough innovation product” under development, achieving innovations in both raw materials and therapeutic mechanisms. In contrast, the vascular occluder is geared toward “rapid commercialization.”

MARIX’s medical team stated, “Rapid market entry does not justify complacency or inaction.” Although several players (primarily foreign manufacturers) are already active in the vascular closure device sector, extravascular closure devices offer a high level of safety. However, the material properties of currently available closure components fail to provide adequate compression at the vascular puncture site, thereby limiting their use in punctures of 8F and larger.

MARIX’s vascular closure device enables controlled radial or axial expansion of the occlusion element, enhancing the controllability and efficacy of hemostasis while ensuring simple and rapid operation.The product has completed clinical enrollment, achieving immediate post-procedural vascular patency at the puncture site with no complications such as hematomas ≥10 cm, active bleeding, or pseudoaneurysms, thereby enhancing the safety and efficacy of vascular closure. Regulatory approval is expected next year, enabling rapid market launch.。

Following the completion of this round of financing, at the product level, MARIX will leverage its underlying materials technology platform and scientific research resources to independently develop or collaboratively translate more innovative products needed for clinical use.Special-function balloons and special-function catheters are currently advancing rapidly, with multiple products expected to obtain regulatory approval next year.; At the team level, the company will continue to expand its R&D, production, and commercialization teams to strengthen its end-to-end service capabilities across the entire product development lifecycle. In addition, the company will gradually initiate overseas clinical trials and commercialization activities.

Regarding this round of financing,TusPark Ventures“It was mentioned that the founders and R&D team of MARIX possess a solid technical foundation in biomaterials and photochemistry, while also having accumulated extensive experience in the research, development, and manufacturing of innovative cardiovascular interventional products such as balloons. Throughout their previous professional careers, team members have led the selection and development of multiple innovative medical devices. We highly recognize the judgment and execution capabilities of the entire MARIX team. Following the completion of this round of financing, we will promote the clinical adoption and industrial collaboration of MARIX’s existing products, including vascular closure devices and specialized functional balloons. Meanwhile, we will actively advance the overseas clinical promotion, regulatory approval, and commercial application of MARIX’s coronary natural vessel stents.”

Dr. Tianrong Ji, Founding Partner of TigerYeah Capital“It is believed that ‘China has a large population of cardiovascular patients, resulting in significant unmet clinical needs. Starting with upstream biomedical materials and addressing these unmet clinical needs, the MARIX team is seeking innovative opportunities in the highly competitive cardiovascular intervention sector. Its core product, the natural vessel stent, offers a more natural and effective approach to establishing and maintaining vascular patency. Compared with traditional treatments such as conventional stents and drug-coated balloons, it better aligns with the concept of “intervention without implantation.” We look forward to the rapid market launch of this highly innovative and clinically valuable product, so as to benefit more patients.’”

TusPark Ventures was restructured and established in 2014 against the strategic backdrop of promoting the commercialization of scientific and technological achievements at Tsinghua University. It is a professional investment management institution primarily focused on early-stage investments in technology-driven innovative enterprises. TusPark Ventures concentrates on key sectors such as life sciences, medical devices, information technology, and modern manufacturing. It maintains a long-term focus on investing in innovative companies with core hard technologies, while distinguishing itself through the incubation and investment of technological achievements derived from clinical experts at universities and top-tier hospitals. Currently, TusPark Ventures manages funds exceeding RMB 3 billion and has cumulatively invested in over 80 projects. Two-thirds of these portfolio companies hold dominant positions in their respective niche markets, and more than half feature technologies that are first-of-their-kind in China or even globally. The firm has generated robust financial returns for its investors and has been included in the “White List of Class A Private Equity Fund Managers Eligible for Insurance Fund Investments” published by the Insurance Asset Management Association of China.

TigerYeah Capital focuses on equity investments in the healthcare sector, targeting early-stage and growth-stage companies. The management team boasts profound industry expertise, extensive network resources, and rich investment experience. To date, the firm has completed investments totaling RMB 2 billion across more than 100 projects, with a portfolio covering medical devices, biopharmaceuticals, contract research organizations (CROs), and health supplements. By empowering its portfolio companies, TigerYeah Capital creates value for the development of the healthcare industry in China and globally, contributing to public health.

Reference: "Nearly 1.3 Million Percutaneous Coronary Intervention Procedures Performed in Mainland China in 2022, with Rapid Growth in Drug-Coated Balloon Usage" — Yicai