Xinmai Medical Completes New Round of Financing, Northtop Capital Serves as Exclusive Financial Advisor

VCBeat (WeChat ID: vcbeat) has learned that Suzhou SyMap Medical Device Co., Ltd. (“SyMap”) has announced the completion of a financing round worth hundreds of millions of yuan, with investment from Puhua Capital, Jisu Capital, and Zheshang Innovation Capital. Beituo Capital served as the exclusive financial advisor for this transaction.

SyMap’s founding team comprises top experts in the cardiovascular field, seasoned healthcare venture capitalists, and leading domestic enterprises in electrophysiology. The company has a comprehensive product development pipeline targeting major diseases in the cardiovascular and respiratory fields, with indications covering hypertension, heart failure, refractory complex arrhythmias, severe asthma, and pulmonary nodules/early-stage lung tumors.

SyMap is currently conducting two clinical registration trials: the SMART Study, which evaluates renal nerve mapping and selective ablation for the treatment of hypertension, and the BATA Study, which assesses bronchial radiofrequency ablation for the treatment of asthma. Both products have successively passed the special review application for innovative medical devices submitted to the National Medical Products Administration (NMPA) and entered the “green channel” for special review.

SyMap’s renal nerve mapping/selective ablation system is the only product worldwide capable of precisely mapping and locating the distribution of renal sympathetic nerves, thereby avoiding the drawbacks associated with blind ablation, and is backed by a robust global intellectual property portfolio. The clinical registration trial for this product, the SMART Study, was led by numerous renowned domestic and international experts in the field of cardiovascular medicine, including Professor Huo Yong, Academician Ge Junbo, Professor Sun Ningling, Professor Yin Yuehui, Professor Jiang Hong, Professor Chen Minglong, and Professor Lu Chengzhi. Furthermore, the project benefits from an International Expert Advisory Committee comprising distinguished overseas experts such as Michael Böhm, Felix Mahfoud, Murray Esler, Paul Sobotka, and Howard Levin.

SyMap’s patent-protected bronchial radiofrequency ablation system is better suited to the pulmonary anatomical characteristics of the Chinese population, enhancing procedural fluency through more effective human-machine interaction. Its clinical registration trial, the BATA Study, was conducted in collaboration with renowned respiratory experts including Professors Li Shiyue, Long Fa, Yao Xin, Wang Changhui, and Yan Xixin. Prominent international experts Felix Herth and Daniel Steinford also serve as members of SyMap’s International Expert Advisory Committee for its pulmonary tumor treatment products.

SyMap’s product pipeline is focused on addressing significant unmet clinical needs, with multiple disruptive innovative devices in its R&D portfolio. As product development deepens and approvals for market launch are secured, SyMap is poised to benefit a broader patient population.

Wang Jie and Jin Kewen, co-founders of SyMap, spoke highly of the investors in this funding round, praising their judgment and foresight—akin to that of previous investors such as SoftBank, Sequoia Capital, Juming Capital, Sumitomo Mitsui Banking Corporation (SMBC) Investment, and Origin Capital—for supporting SyMap, an original enterprise pioneering uncharted territory with R&D efforts at a stage comparable to its European and American counterparts.

Niu Jiang, Partner of the Transaction Execution Department at Beituo Capital, stated: “SyMap’s product pipeline demonstrates exceptional originality and industry leadership. Beituo Capital is honored to have assisted SyMap in completing this round of financing. We firmly affirm SyMap’s strategic direction and the professional expertise of its team, and we remain fully committed to supporting the company’s future capital operations.”

Since its establishment in 2004, Puhua Capital has adhered to the core investment strategy of “deepening industrial integration and building an investment ecosystem.” Focusing on key sectors within technology, healthcare, and cultural consumption, the firm has invested in over 400 companies, including outstanding healthcare enterprises such as MicroPort Scientific Corporation, Everest Medicines, Genor Biopharma, and Guobang Pharma. Puhua Capital remains committed to maintaining its focus, dedication, diligence, and acuity, looking forward to partnering with more exceptional entrepreneurs and enterprises.

Jisu Capital was established in 2016. Guided by the philosophy of “Passion for Innovation, Value Creation,” the firm focuses on venture capital investments in China’s healthcare and medical sector. It has invested in renowned and high-performing companies such as Venus Medtech, Zhiyun Health, and Dejin Medical. Looking ahead, Jisu Capital will remain dedicated to its focus, striving to create value for more enterprises and grow alongside entrepreneurs.

Zhejiang Zheshang Innovation Capital Management Co., Ltd. manages the Zheshang Transformation and Upgrading Fund of Funds. It serves as a vice-presidential unit of both the Zhejiang Equity Investment Industry Association and the Zhejiang Mergers and Acquisitions Federation. The Fund of Funds was established under the deployment of the Zhejiang Provincial People's Government and guided by the Zhejiang Provincial Financial Office, with an approved scale of RMB 10 billion.