Cardiac Intervention Device Company Koka Life Sciences Secures Hundreds of Millions in Series B Funding

VCBeat (WeChat ID: vcbeat) has learned that Kokai Life Sciences, a leading domestic enterprise in interventional heart valve devices, recently completed a Series B financing round amounting to hundreds of millions of RMB. Investors in this round included Zheshang Venture Capital, Guozhong Capital, Volcanics Venture, Sherpa Healthcare Partners, YuanBio Venture Capital, and other top-tier domestic investment institutions. Existing investor Huachuang Capital also increased its investment, while RuiLing Capital served as the exclusive financial advisor. The funds raised will primarily be used to conduct clinical trials for heart valve products, obtain NMPA approval, and support the research and development of other products.

Kokai Life Sciences, established in September 2018, is a technology company dedicated to the research and development of interventional devices for heart valves. Its product R&D center is located in Zhangjiang Science City, Shanghai. The company is composed of domestic and international teams with extensive experience in heart valve development. Leveraging core platform technologies—including China’s largest integrated precision machining platform for valves, medical-grade polymer membrane materials, and hemodynamics—Kokai Life Sciences has developed a human valve repair system. Building on its mitral and tricuspid valve repair systems, the company provides systematic solutions for valvular diseases tailored to diverse patient populations, varying clinical needs, and different clinical scenarios.

Cardiovascular disease is one of the leading causes of morbidity and mortality both globally and in China. With the aging of China’s population, the incidence of cardiovascular disease is expected to continue rising. According to the latest WHO report, cardiovascular disease accounts for the largest proportion of deaths among Chinese residents, representing 43% of all causes. As an innovative and evolving technology and treatment modality, cardiovascular intervention boasts substantial market demand and promising industry prospects.

Kokai Life Sciences’ pipeline targets valvular heart disease, aligning closely with trends in interventional cardiology and addressing critical clinical needs through domestic innovation. Currently, the company’s mitral valve repair system, LifeClip®, has completed design, development, and animal studies, and is initiating large-scale clinical trials. Meanwhile, other products in its pipeline—including the KokaClip® mitral valve repair system, the KokaValve® novel valve, and the KokaClamp® tricuspid valve repair system—have completed testing submissions and are currently in advanced preclinical studies. To enhance the completeness and leadership of its portfolio in valve repair, Kokai Life Sciences has fully acquired Shanghai Fangwei Medical, thereby entering the field of mitral annuloplasty.

China has become the world’s largest market for cardiovascular interventional procedures, yet it is not yet a global leader in this field, with its technical capabilities still lagging behind those of the United States. Kokai Life Sciences focuses on research and innovation, meticulously crafting each product. Through rigorous clinical studies and evidence-based medicine, the company has emerged as a pioneer in the heart valve sector. It is committed to advancing Chinese cardiovascular interventional medicine to new scientific heights—“Kokai: Where Science Meets Achievement”—and fostering a new era of prosperity in life sciences.

You Xiangdong, Managing Partner and Executive President of Zheshang Venture Capital Co., Ltd., stated: "Mitral regurgitation is a common clinical condition. As cardiologists, we often face end-stage patients (those with severe mitral regurgitation accompanied by reduced systolic function) who cannot tolerate surgical valve replacement, with few effective solutions available. Percutaneous minimally invasive intervention represents a new surgical approach for these patients, offering new hope. We have long anticipated the emergence of domestically produced products in this field. Kokai’s product features a unique and novel design that facilitates easier intraoperative capture of the anterior and posterior mitral leaflets, enabling precise and rapid leaflet clipping to eliminate or significantly reduce mitral regurgitation. This allows physicians to achieve proficiency with a shorter learning curve and perform delicate maneuvers more easily, thereby accelerating patient benefit. The Kokai team comprises medical professionals from both China and abroad, demonstrating a profound understanding of both their product and the market. Furthermore, as one of the few platform-based companies in China specializing in the mitral valve repair sector, Kokai is precisely the type of enterprise that merits national encouragement and support."

Jiang Chao, Investment Director at Guozhong Capital, stated that as China’s population structure gradually ages, the incidence of valvular heart disease is rising year by year. Traditional surgical procedures have certain limitations and fail to adequately meet this substantial market demand. Abroad, transcatheter valve interventions—represented by transcatheter mitral valve repair and transcatheter aortic valve replacement (TAVR)—have undergone years of development, with continuous iteration and optimization of procedural techniques and implanted consumable products. These technologies have now reached a stage of relative maturity and are ready for large-scale adoption, presenting the industry with a rare window of opportunity for growth. The team at Kokai Life Sciences has accumulated extensive R&D and manufacturing experience in the field of transcatheter valve products. They have established a technology platform with independent intellectual property rights and comprehensively developed a product pipeline covering interventional cardiology and cardiac surgery, including mitral valve intervention and repair products, as well as next-generation transfemoral balloon-expandable aortic valve products. With their differentiated features, these products are poised to provide domestic clinicians and patients with a diverse, comprehensive suite of minimally invasive valvular treatment solutions. We remain firmly committed to supporting the development of Kokai Life Sciences, providing multifaceted services to the enterprise and growing alongside it.

RuiLing Capital was established in July 2018 as a boutique financial advisory (FA) firm primarily providing equity-related financing, investment, and financial consulting services to healthcare companies from the Pre-A to Series C stages. The team comprises seasoned investment banking and investment professionals in China, boasting extensive healthcare resources and networks, keen market insights, and profound expertise across numerous healthcare sub-sectors. With mature methodologies and a comprehensive service workflow, the team precisely connects clients with high-quality resources while supporting business development, optimizing organizational structures, and driving company valuation growth. To date, the firm has served more than ten enterprises and facilitated investment transactions totaling hundreds of millions of yuan.