NewMed Medical Secures Over $100 Million Series C Funding to Accelerate Innovation in Structural Heart Disease Interventions

VCBeat (WeChat: vcbeat) has learned that Shanghai NewMed Medical Technology Co., Ltd. (“NewMed”) recently announced the completion of its Series C financing round, raising over USD 100 million. The round was led by Temasek, with participation from Yunfeng Capital, Chengwei Companion Fund, and existing shareholders including OrbiMed, Fortune Capital, BioTrack Capital, Zhangke Lingyi, and Junzi Investment. HAOYUE CAPITAL served as the exclusive financial advisor for this financing round. The funds will accelerate NewMed’s innovative R&D in interventional products for structural heart disease and advance the clinical trials and regulatory registration of its mitral valve replacement and repair systems, as well as its balloon-expandable transcatheter aortic valve replacement (TAVR) products.

NewMed is dedicated to the research, development, and promotion of innovative products in the field of interventional therapy for structural heart disease. The company operates R&D and manufacturing facilities spanning over 10,000 square meters in Shanghai, Beijing, Chengdu, and other locations, comprising R&D laboratories, physical, chemical, and microbiological testing platforms, as well as Class 10,000 GMP-certified clean production workshops. Currently, the company’s core business focuses on comprehensive interventional solutions for structural heart disease, including transcatheter mitral valve replacement (TMVR) and repair (TMVr), transcatheter aortic valve replacement (TAVR), and ancillary interventional devices. Its TMVR product Mi-thos, TAVR product Prizvalve, and TMVr product Valveclip-M have all entered registrational clinical trials, positioning NewMed among the industry’s leading tier and marking a significant advancement in the independent innovation and R&D capabilities of domestically produced medical devices. Furthermore, the company has multiple innovative products in the structural heart disease sector currently under development, aiming to provide comprehensive solutions for patients in the future.

With breakthrough advancements in interventional valve therapy technologies, transcatheter valve replacement and repair techniques have become one of the key areas in international cardiovascular device R&D. Chinese interventional valves have marked their tenth anniversary, with major products predominantly concentrated in the TAVR field. Currently, the domestic TAVR market is in its early growth stage. While most domestically produced TAVR devices adopt a self-expanding design, NewMed’s Prizvalve features a balloon-expandable design, offering potential advantages such as a lower post-procedural pacemaker implantation rate. Furthermore, balloon-expandable aortic valves demonstrate significant benefits in treating bioprosthetic valve failure and insufficiency. NewMed’s Prizvalve has been successfully utilized in valve-in-valve procedures in several investigational clinical cases, achieving excellent clinical outcomes.

In the field of mitral valve interventions, due to the complex anatomy and variable pathophysiological mechanisms, the international development of transcatheter mitral valve replacement (TMVR) technology has lagged significantly behind that in the aortic valve sector. With products and technologies still immature, TMVR currently represents the most prominent hotspot in the field of structural heart disease, holding immense market potential.

To address the technological gap in China, NewMed has developed the TMVR product Mi-thos, which has been approved to enter the National Innovative Medical Device Special Review Procedure and is poised to become the first domestically approved innovative TMVR product. Additionally, the company’s transfemoral mitral valve repair product, Valveclip-M, has entered the registration clinical trial phase, placing it among the leading domestic contenders.

Regarding the consecutive investments from renowned investors, Mr. Yu Qifeng, Chairman and CEO of NewMed, stated: “The original aspiration behind the founding of NewMed was to focus on the field of structural heart disease, aligning with international frontiers and clinical needs. Guided by the ‘Four Orientations’ proposed by President Xi Jinping and adhering to the philosophy of ‘clinical application as the core,’ we are dedicated to developing innovative products in the valve sector. Over the past five years, we are grateful for the recognition from industry experts and the capital market. The support from all parties has instilled strong confidence in NewMed’s independent innovation. Upon the completion of this round of financing, NewMed will further strengthen the R&D of innovative products, accelerate the commercialization process, and bring more innovative medical products to clinical applications, thereby benefiting patients and safeguarding lives.”

Mr. Yang Zhenjun, Partner at HAOYUE CAPITAL, stated that as a platform enterprise in the field of interventional structural heart disease, NewMed’s core products—TAVR, TMVR, and TMVr—have all entered the registration clinical trial phase, placing the company in the industry’s first tier. The company’s balloon-expandable aortic valve holds significant differentiated competitive advantages in the TAVR market and can be applied to valve-in-valve therapy, bringing hope to a large population of patients with prior bioprosthetic valve degeneration. NewMed’s Mi-thos is poised to become the first domestically approved TMVR product, offering market exclusivity. HAOYUE CAPITAL is honored to have completed another landmark transaction in the structural heart disease sector and is privileged to have served as the exclusive financial advisor to NewMed for two consecutive funding rounds. We remain bullish on the company’s innovative capabilities and leading position in the field of interventional structural heart disease.

Shanghai NewMed Medical Co., Ltd., established in 2015, is a high-tech medical innovation enterprise with independent intellectual property rights. The company specializes in the research, development, and industrialization of interventional artificial heart valve systems at an internationally advanced level. We listen to the voices of patients with valvular heart disease, understand the clinical needs of physicians, and adhere to the principles of professionalism, safety, and efficiency. Collaborating with experts in the field of cardiovascular diseases, we are committed to delivering more high-end medical devices that benefit the general public to clinical practice and patients. Our goal is to build a premium medical device enterprise rooted in China and aligned with international standards, realizing our vision of improving lives through innovation.

NewMed is committed to innovative R&D, academic advancement, and the widespread adoption of therapies. By building an integrated management team that combines industry, academia, research, and clinical practice, and by establishing strong collaborative partnerships with renowned hospitals and universities in China, NewMed has developed a portfolio of innovative medical products for transcatheter heart valve interventions, filling domestic gaps in both products and technologies.

The company's projects have received support from multiple R&D funds, including the National Ministry of Science and Technology's 13th Five-Year Plan projects and the Shanghai Municipal Science and Technology Commission's Science and Technology Support Program. To date, the company has filed over 160 patent applications.

Life is paramount; innovation knows no bounds. Adhering to its quality policy of "consistently providing high-quality products and services that meet or exceed customer needs," NewMed remains committed to the continuous research and development of heart valve-related products, benefiting a vast number of patients with valvular heart disease and safeguarding lives.

Temasek is an investment company with a net portfolio value of SGD 306 billion (equivalent to RMB 1.52 trillion) as of March 31, 2020. The Temasek Charter defines our roles as investors, institutions, and stewards of assets, shaping our philosophy and mission to pursue excellence, fulfill our mandate, and benefit future generations. Our investment philosophy is guided by four themes: transforming economies, growing middle class, strong comparative advantages, and emerging champions. We actively seek sustainable solutions to address current and future challenges, seize investment and other opportunities, and help build a better, smarter, and more sustainable world. Headquartered in Singapore, Temasek operates 11 offices worldwide.

Chengban Fund focuses on early- to mid-stage investments in the healthcare and medical industry. The fund is committed to investing in innovative enterprises driven by core products, technologies, and markets, while respecting the underlying logic of each project. The fund’s partners include Chengyin Capital, Shanghai Government Guidance Fund, Putuo District Government Guidance Fund, and Zhangjiang Hi-Tech, among others.

OrbiMed manages total net assets of approximately $18 billion and has specialized in global healthcare investments for over two decades. Its investment portfolio spans biopharmaceuticals, life sciences, medical devices, healthcare services, and diagnostics, covering all stages from start-up and growth to maturity and post-IPO. OrbiMed invests globally across the healthcare sector, ranging from early-stage enterprises to large publicly listed companies. Its investment team comprises more than 80 distinguished professionals worldwide, with expertise in life sciences, medicine, finance, and law.

Fortune Capital, established in 2000, is among the first batch of domestic venture capital firms in China to operate on a market-oriented basis. Over the past 21 years, Fortune Capital has invested in more than 570 companies, 112 of which have gone public (excluding those listed on the New Third Board). Representative portfolio companies in the healthcare sector include Aier Eye Hospital (300015.SZ), CanSino Biologics (688185.SH), and Ruipeng Pet Healthcare.

Founded in 2017, BioTrack Capital is a professional investment firm dedicated to investing in and incubating outstanding healthcare startups in the Chinese market. We are not just investors; we are long-term partners to entrepreneurs. We provide sustained support to the most exceptional healthcare founders, cultivating the next generation of leading enterprises in China’s healthcare industry.

Zhangke Lingyi is a local venture capital firm based in Zhangjiang, primarily investing in early- to mid-stage projects in the fields of biopharmaceuticals and innovative medical devices within Zhangjiang Science City. It has successively invested in companies such as ImmuneOnco, NewMed, Yinuo Pharmaceutical, Zhuowai Medical, Luoqi Biologics, Lingnuo Medicine, Lintai Biologics, and Xuanren Technology. The management team of Zhangke Lingyi has deep roots in Zhangjiang, possessing extensive industry, project, and information resources. By aggregating various key development factors essential for corporate growth—including capital, talent, expansion space, corporate partnerships, and policy insights—the firm works alongside entrepreneurs to drive the rapid development of their startups.

Junzi Investment was established in 2016 by Ms. Qin Jun, a World Young Leader, renowned entrepreneur, and founder of Tsinghua Holdings Kechuang. Adhering to the development philosophy of “Symbiosis and Win-Win,” the firm promotes the integrated development of finance and technology, as well as the advancement of real economy and society. It has strategically deployed in strategic emerging industries and future technologies, with a focus on investment opportunities in advanced manufacturing, next-generation information technology, healthcare, and other sectors.

HAOYUE CAPITAL, established in January 2014, is dedicated to serving as a bridge connecting China’s healthcare industry with capital. Its research and transaction coverage spans multiple sub-sectors, including biopharmaceuticals, innovative medical devices, in vitro diagnostics (IVD) and precision medicine, healthcare services, and smart healthcare. The HAOYUE CAPITAL team comprises senior investment bankers with extensive experience in China’s healthcare sector, who have long maintained close tracking of market dynamics and investment trends in healthcare.