Hemo Bioscience Secures Tens of Millions in USD Series B Funding Led by Hillhouse Ventures

36Kr has learned thatHEMO Bioengineering Co., Ltd.(hereinafter referred to as “HEMO”) has completed a Series B financing round worth tens of millions of US dollars. This round was led by GL Ventures, with participation from Legend Capital and 3H Health Investment, among others. HAOYUE CAPITAL served as the exclusive financial advisor for this financing round.This financing will be used to support the research and development and introduction of subsequent new products, and addSuyanAdvancing pipeline products to clinical development and commercializing marketed products.

HEMO is a platform company focused on innovative solutions in the field of vascular intervention, with its current product line covering treatments for ischemic stroke, hemorrhagic stroke, and intracranial arterial stenosis.

It is reported that the company’s marketed product, TracLine, is a new-generation distal access catheter suitable for various neurointerventional procedures; additionally, its core product, the intracranial thrombus aspiration catheter, is即将 to enter the market.In the future, access-related products based on comprehensive stroke solutions and related therapeutic products featuring cutting-edge technologies will be successively launched.

Stroke is the second leading cause of death globally and the leading cause of death in China, characterized by high mortality, high incidence, high recurrence, and high disability rates. If patients do not receive effective treatment, it will impose severe psychological and economic burdens on families and society.

China to Become the World's Largest Neurointerventional Market

Image provided by HAOYUE CAPITAL

Compared with developed countries in Europe and the United States, China’s neurointerventional field started later. However, with the continuous advancement of imaging and vascular interventional technologies, neurointerventional devices have experienced rapid growth in the Chinese market in recent years. Driven by population aging, improved overall diagnostic capabilities, heightened patient awareness, and the accelerated establishment of stroke centers across China, this trend is expected to continue.

According to statistics, the market size of neurointerventional devices in China was RMB 4 billion in 2018; it is projected to exceed RMB 20 billion by 2025, with a compound annual growth rate (CAGR) of 26%. Meanwhile, China is highly likely to surpass other developed countries globally to become the world’s largest single market for high-value neurointerventional consumables.

In the treatment of ischemic stroke, the international community has long emphasized that “time is brain.” If patients can arrive at the hospital even one minute earlier, subsequent therapeutic outcomes can differ significantly. In recent years, many cities have released stroke emergency maps to establish a one-hour “golden circle” for treatment, enabling direct localization and identification of the nearest stroke center.

With the publication of the “Big Five RCTs” in 2015,Mechanical Thrombectomy Has Become a Major Therapeutic Option for Ischemic Stroke Beyond Standard Intravenous ThrombolysisIn 2019, Professor Turk published the COMPASS trial in The Lancet, which effectively validated the efficacy and economic value of the ADAPT (A Direct Aspiration First-Pass Thrombectomy) technique for thrombectomy treatment.

Currently, more than half of endovascular treatments for ischemic stroke in the U.S. market utilize the ADAPT technique, which aligns with the strategic portfolio of HEMO’s core products.

Dr. Wang Jicheng, founder of HEMO, stated that existing technologies and products in China’s neurointerventional market currently fail to fully meet the needs of clinicians and patients. Leveraging its industry experience and resources, the company has chosen to tackle the most challenging catheter R&D technologies and conduct clinical trials for aspiration catheters, with the aim of introducing the ADAPT technique—widely adopted in mature European and American markets—to China.

It is reported that Dr. Wang Jicheng, founder of HEMO, previously served as the founder of Jiwei Medical and former CEO of Biosensors International Group, successfully leading the company into the top four globally in coronary drug-eluting stents. The team he leads has extensive experience in R&D translation and product commercialization, and has secured multiple patents.