EndoHeart Medical Secures $70 Million Series B Financing to Advance Its Transcatheter Mitral Valve Replacement Platform

VCBeat has learned that MitrAssist Lifesciences (“MitrAssist”), a global leader in innovative cardiovascular medical devices, has completed a $70 million Series B financing round today. The round was co-led by Hony Capital and CICC Qide Fund (along with its affiliated funds) under CICC Capital, with CITIC Securities and 6 Dimensions Capital participating as follow-on investors. The proceeds will be used to support clinical trials, regulatory submissions, and market access for the company’s globally leading transcatheter mitral valve products and coronary drug-coated balloon products, as well as to fund preclinical research on other pipeline candidates.

It is understood that MitrAssist Lifesciences is a globally leading platform enterprise specializing in innovative cardiovascular medical devices. Headquartered in Shanghai, the company maintains an R&D center in Israel. Its product portfolio primarily includes interventional cardiac valve therapies, interventional coronary drug-coated balloons, and interventional heart failure treatments, all of which possess global intellectual property rights and feature world-leading technologies.

MitrAssist Lifesciences’ transcatheter mitral valve replacement (TMVR) product is the only one globally that utilizes a single valve design compatible with both transapical and transfemoral venous delivery approaches. Its transapical and transfemoral delivery systems feature the smallest profile currently available worldwide. It is also the only TMVR device for which the entire procedure is performed under full ultrasound guidance, with its clinical data published in the prestigious academic journal JACC: Cardiovascular Interventions. This innovation fills the domestic gap in China for transcatheter mitral valve replacement technology.

According to reports, the skin-to-skin time for transapical transcatheter mitral valve replacement is only 10 minutes. The procedure features a short learning curve for physicians, and patients demonstrate good quality of life in long-term follow-up. Once launched on the market, this product will significantly benefit patients in China. Its coronary drug-coated balloon product also boasts globally leading technology. This fourth-generation drug-coating technology builds upon the first, second, and third generations, which have collectively accumulated clinical data from over 600,000 cases worldwide, effectively validating their safety and efficacy.

MitrAssist Lifesciences GroupIndicates“Investment in MitrAssist Lifesciences by top-tier investment firms within the industry demonstrates the market’s high recognition and strong support for the company. MitrAssist Lifesciences Group will continue to deepen its focus on technological innovation and industrialization in cardiovascular interventional medical devices, striving to establish itself as a leading cardiovascular platform company both in China and globally. Guided by independent innovation as our core driving force, we will integrate and allocate superior global technologies to provide doctors and patients with world-class comprehensive solutions for interventional cardiology treatment.”

Mr. Chen Zhixing, Executive Director of Centurium CapitalIndicates“Mitral regurgitation affects a large patient population, yet current treatment options are limited, creating an urgent clinical need for safe and effective interventional technologies. The technological concepts and manufacturing standards of MitrAssist Lifesciences’ mitral valve replacement products are at the global forefront, holding substantial potential market value. We will fully support MitrAssist Lifesciences in becoming a leading domestic cardiovascular and cerebrovascular medical device platform company, facilitating the introduction of more innovative medical products to the Chinese market and benefiting a broad base of patients in China.”

Ms. Liang Ying, Head of CICC Qide Fund, stated“The cardiovascular market in China is vast and continues to grow. The clinical necessity for mitral valve treatment is well-defined, with urgent unmet needs awaiting solutions; the market is emerging and offers broad prospects. Due to extremely high technical barriers, no transcatheter mitral valve replacement products are currently commercially available in China. The company boasts a world-class team of Chinese and international scientists, engineers, and interventional cardiologists, endowing it with robust original R&D capabilities and abundant clinical resources. We are firmly committed to growing alongside the company, aiming to build it into a leading global enterprise in the cardiovascular intervention sector.”

CITIC Securities Investment stated: "Mitral regurgitation is one of the most common valvular heart diseases, yet there is currently a significant unmet clinical need, with tens of millions of people worldwide failing to receive effective treatment each year. This substantial unmet need urgently calls for globally original medical devices to fill the gap. Leveraging advanced design concepts and truly proprietary technology, MitrAssist Lifesciences is poised to share the promising future market space with global medical device giants, providing a rich portfolio of innovative medical device products to cardiovascular patients worldwide."

Ms. Zhu Yibo, Partner at 6 Dimensions Capital, stated“We are honored to join the investor ranks of MitrAssist Lifesciences. Transcatheter mitral valve replacement remains an unmet need in China. With years of accumulation in this field, MitrAssist’s products rank among the forefront domestically, thanks to their innovative design and robust data. Meanwhile, through independent R&D and external collaborations, the company has established a rich product pipeline centered on cardiovascular care. We believe that, leveraging its strong innovation capabilities and broad international vision, MitrAssist will continue to develop more products with global competitiveness, becoming a leading platform in the cardiovascular field and addressing the needs of a vast patient population.”

Centurium Capital is a leading private equity fund management firm in China, focusing on investment opportunities in the Chinese consumer, services, and healthcare sectors. Adhering to the investment philosophy of “investment-driven transformation,” Centurium Capital makes controlling or significant minority private equity investments in companies, assists them in formulating effective business strategies and improving operational efficiency, drives corporate growth and transformation, and creates long-term value for investors.

CICC Qide (Xiamen) Innovative Biopharmaceutical Equity Investment Fund (hereinafter referred to as the “CICC Qide Fund”) is an equity investment fund under CICC Capital Operations Co., Ltd. (hereinafter referred to as “CICC Capital”) that focuses on innovative pharmaceuticals, marking a significant breakthrough in CICC Capital’s strategic layout within the biopharmaceutical industry. Leveraging its strong performance track record, reputable brand, and superior investment management capabilities, the CICC Qide Fund has gained recognition and support from numerous well-known fund-of-funds, institutional investors, listed companies, and clients of CICC Wealth Management. It successfully completed oversubscribed fundraising against market trends within a short period, becoming one of the largest RMB-denominated biopharmaceutical funds in the past two years.

CITIC Securities Company Limited was established in October 1995 and is China’s first securities company to be listed on both the A-share and H-share markets. Since 2017, alternative investment activities outside the scope of CITIC Securities’ proprietary investment portfolio have been fully undertaken by its wholly-owned subsidiary, CITIC Securities Investment Co., Ltd. (“CITIC Securities Investment”). CITIC Securities Investment deeply explores investment opportunities in sectors such as healthcare, technology and advanced manufacturing, modern services, new materials, and industrial products. It steadily advances domestic and overseas investments, continuously leveraging the comprehensive advantages of CITIC Securities, and has invested in a number of companies with core competitiveness in fields including semiconductors, medical devices, frontier biotechnology, and consumer sectors.

6 Dimensions Capital is a global investment firm specializing in the healthcare and medical sectors, with offices currently located in Boston, San Francisco, Hong Kong, and Shanghai. The company focuses on investing in early-stage and growth-stage companies in fields such as medical devices and biopharmaceuticals across global markets, including Europe, the United States, and China.