Dexin Medical Announces Completion of Series B Financing Led by DCP and Sequoia China

Hangzhou, May 6, 2021 /PRNewswire/ -- Valgen Medtech Co., Ltd. (“Valgen Medtech” or the “Company”), a subsidiary of Denovo Medical Group (“Denovo Medical”), announced that it has recently completed its Series B financing. The funding amount reached hundreds of millions of U.S. dollars, and the proceeds will be primarily used for technological innovation and product development in the treatment of mitral and tricuspid valve diseases. This round of financing was led by DCP Capital and HongShan, with participation from Venus Medtech, Lake Bleu Capital, China Life Health Care Fund, and Ascendum Capital, among others. Existing shareholder Qiming Venture Partners continued to increase its investment.

Denuo Medical is a professional enterprise group specializing in investment and operational management within the innovative life sciences industry. By identifying, investing in, and integrating medical projects with disruptive innovative technologies, it is dedicated to seeking solutions for major diseases that severely threaten human health yet lack effective treatment options.

Valgen Medtech, established in 2015, focuses on the research and development of therapeutic technologies for mitral and tricuspid valve diseases. Mitral regurgitation is the most prevalent condition among heart valve diseases. It is estimated that there are over 10 million patients with moderate-to-severe mitral regurgitation in China, with millions suffering from severe cases requiring intervention. However, half of these patients cannot undergo cardiac surgery due to advanced age, poor cardiac function, or comorbid organ dysfunction, leaving them without effective treatment. In recent years, transcatheter mitral valve intervention technology has rapidly advanced, driven by continuous improvements in interventional devices and the accumulating experience of interventional physicians.

As a leading company in the field, Valgen Medtech is dedicated to the research and development of a comprehensive suite of technologies for minimally invasive interventional treatments of the mitral and tricuspid valves. Its main products include:

Among them, DragonFly^TMThe transcatheter mitral valve clip system fills the gap in China for transfemoral venous mitral valve treatment devices, placing Chinese enterprises in the same tier as international top-tier companies in the research and development of interventional mitral valve devices.

Zhao Yiwei, Chairman of Deno Medical, stated, “The integration of medicine and engineering creates extraordinary value. Driven by innovation, Valgen Medtech has developed China’s first transcatheter mitral valve intervention technologies via both transapical and transfemoral venous approaches, establishing its pioneering position in the global field of structural heart disease. We are delighted to have earned the trust of top-tier investors such as DCP Capital and HongShan. Valgen Medtech will continue to advance the R&D and commercialization of interventional medical devices for mitral and tricuspid valves, providing innovative minimally invasive interventional solutions for heart valve diseases to patients and physicians worldwide.”

Mr. Shen Nanpeng, Global Executive Partner of HongShan and Founding and Executive Partner of HongShan China, stated, “Diagnosis and treatment in the field of structural heart disease represent a key frontier in life and health, and constitute an important area of sustained focus and support for HongShan China. Valgen Medtech has established a significant lead in addressing conditions such as mitral and tricuspid valve diseases, with multiple products filling gaps in this field within China. As one of the lead investors in this financing round, we sincerely look forward to Valgen Medtech accelerating the development of its product portfolio, thereby benefiting more patients with cardiovascular diseases both domestically and internationally.”

Mr. Liu Haifeng, Chairman of DCP Capital, stated: “Valgen Medtech is China’s most successful platform for breakthrough medical technology innovation. Since its establishment, Valgen has successfully operated a portfolio of leading enterprises in the field of minimally invasive interventional therapy for cardiovascular diseases. The achievements that Valgen Medtech has attained today in the most challenging areas of structural heart disease once again fully demonstrate the Valgen management team’s forward-looking insight and foresight regarding cutting-edge international technologies. We are pleased to partner with Valgen Medtech and will provide full support to help the company establish a strong foothold in China while expanding globally, achieving even greater success in the future.”