Neurointervention Pioneer Homi Medical Secures Tens of Millions in USD Series B Led by Hillhouse Ventures, with Joy Capital as Exclusive FA

HEMO Biotechnology Co., Ltd. (hereinafter referred to as “HEMO”) recently announced the completion of its Series B financing round, amounting to tens of millions of U.S. dollars. The round was led by GL Ventures, with participation from Legend Capital, 3H Health Investment, and others. Hywin Capital served as the exclusive financial advisor for this financing round.

HEMO is a global platform company focused on innovative solutions in the field of vascular intervention. Its current product portfolio covers the treatment of ischemic stroke, hemorrhagic stroke, and intracranial arterial stenosis. The company’s marketed product, TracLine, is a next-generation distal access catheter suitable for various neurointerventional procedures. HEMO’s core product, an intracranial thrombus aspiration catheter featuring globally innovative technology and design concepts, is poised for imminent market launch.

In the future, HEMO will continue to launch access products based on comprehensive stroke solutions and related therapeutic products featuring cutting-edge technologies, aiming to meet the clinical needs of diverse patient populations and enhance physicians’ procedural experience. HEMO is committed to becoming a globally leading medical enterprise with a comprehensive product portfolio, providing one-stop solutions for neurointerventional procedures.

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’s neurointerventional field started later than that of developed countries in Europe and the United States. However, with the continuous advancement of imaging and vascular interventional technologies, the market for neurointerventional devices in China has experienced rapid growth in recent years. This trend is expected to persist, driven by population aging, improved overall diagnostic capabilities, heightened patient awareness, and the accelerated establishment of stroke centers nationwide. According to statistics, the market size for neurointerventional devices in China was RMB 4 billion in 2018; it is projected to exceed RMB 20 billion by 2025, representing 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 create a “golden hour” rescue circle, enabling direct location of the nearest stroke center. Following the publication of the “five major RCTs” in 2015, mechanical thrombectomy has become a powerful tool for treating ischemic stroke, complementing standard intravenous thrombolysis. The COMPASS trial, published by Professor Turk in The Lancet in 2019, robustly validated the efficacy and economic value of the ADAPT technique for thrombectomy. Currently, more than half of endovascular treatments for ischemic stroke in the U.S. market utilize the ADAPT technique, which aligns perfectly with the core product portfolio of HEMO.

Dr. Wang Jicheng, Founder of HEMOHEMO expressed strong optimism about the future development of the neurointerventional field in China, while also acknowledging that existing technologies and products in the domestic neurointerventional market currently fall short of fully meeting the needs of clinicians and patients. Leveraging our industry experience and resources, we have chosen to tackle the most challenging aspects of catheter R&D technology. As the first company in China to conduct clinical trials for aspiration catheters, our goal is to introduce the ADAPT technique, which is highly regarded in mature markets such as Europe and the United States, to China. We are deeply grateful to all investment institutions for their recognition and support of HEMO. The rapid completion of this financing round will facilitate the R&D and introduction of new products, accelerate the clinical translation of products in our pipeline, and expedite the commercialization of already launched products. We look forward to working closely with our investors to deepen our engagement in the vascular intervention sector, source advanced technologies globally, and leverage HEMO’s experienced R&D and commercial teams to rapidly deploy new technologies and products in China and broader markets, ultimately benefiting a wide range of patients with cerebrovascular diseases.

Yi Nuoqing, Co-Chief Investment Officer of Hillhouse Capital and Head of Biopharmaceuticals and Medical Devices at Hillhouse VenturesHEMO, as a leading enterprise in China’s neurointerventional sector, demonstrates strong competitiveness in the depth and diversity of its technological platforms. The team led by its founder, Dr. Wang Jicheng, has extensive experience in R&D translation and successful product commercialization, securing multiple patents. Actively engaging in international competition, HEMO introduces globally leading technologies to ensure that Chinese patients receive access to advanced international medical treatments at the earliest opportunity. Furthermore, HEMO’s strong collaborative relationships with top domestic and international experts in neurointervention contribute to the continuous improvement of clinical guidelines, thereby better supporting clinical practice. We will join hands with HEMO to promote professional education in China’s neurointerventional market, provide superior products for physicians and patients, and continually enhance societal well-being.

Zhou Quan, Managing Director at Legend CapitalHe stated that Dr. Wang is among the first successful entrepreneurs in China’s vascular interventional device sector and possesses extensive experience in managing global operations. His unique strategic insight and global vision have empowered HEMO, established during his second entrepreneurial venture. We anticipate that under Dr. Wang’s leadership, the new team will leverage the distinct value of its product portfolio in diseases such as stroke, supporting physicians in China and beyond to benefit more patients.

Sheng Li, Partner at 3H Health InvestmentDr. Wang Jicheng, the founder of HEMO, is a successful entrepreneur with a global perspective. As the founder of Jiwei Medical and former CEO of Biosensors International Group, Dr. Wang successfully led the company to become one of the top four globally in the market for coated coronary stents. HEMO represents Dr. Wang’s next venture, focusing on the field of neurointerventional medicine, absorbing advanced technologies worldwide, and building a global platform enterprise. As one of the earliest investors in HEMO, we are pleased to continue participating in this round of financing, further supporting HEMO’s development in the stroke sector, providing better products for stroke patients, and offering more options for clinicians.

Yang Zhenjun, Partner at Haoyue Capital“We are honored to have assisted HEMO in completing this round of financing. Neurointervention has long been a key area of in-depth research for Joy Capital, representing a golden track on the verge of explosive growth. HEMO’s founder is a serial entrepreneur, and the team boasts extensive practical experience in corporate operations, a leading product pipeline, and a global strategic vision—qualities that have earned high recognition from numerous top-tier investment institutions and strategic partners. We believe that with capital support, HEMO will accelerate the R&D of multiple pipelines, strengthen and expand its product portfolio, and achieve new strategic breakthroughs!”

HEMO (China) Bioengineering Co., Ltd. officially commenced operations in 2017, with its R&D center located in Weihai and its operational headquarters established in Beijing. The company is dedicated to building an innovative platform enterprise in the field of vascular intervention in China, providing comprehensive neurointerventional solutions for cerebrovascular diseases, including ischemic stroke, hemorrhagic stroke, and intracranial arterial stenosis. Throughout the entire product lifecycle, the company strictly adheres to rigorous quality and safety standards to ensure the highest level of product reliability. HEMO China boasts a professional and experienced management and operations team. By leveraging diversified R&D capabilities and international academic resources, it continuously develops globally leading innovative technological products, making in-depth strategic investments in high-growth sectors such as neurointervention.

GL Ventures is the venture capital fund under Hillhouse that focuses on early-stage innovative companies, primarily investing in four key sectors: biopharmaceuticals and medical devices, software and hard tech, consumer internet and technology, and emerging consumer brands and services.

Biopharmaceuticals and medical devices have long been key investment focuses for Hillhouse. Over the past decade, Hillhouse has invested in more than 160 outstanding pharmaceutical and medical device companies, including BeiGene, Innovent Biologics, Junshi Biosciences, I-Mab, Pharmaron, Nanomicro Tech, Medtronic (Shenzhen), PINS Medical, Prime Medicine, Peijia Medical, MicroPort CardioFlow, Venus Medtech, Easysurg, Shenqi Medical, Biomere, Antengene, Dali Medical Group, Huamai Tech, MicroPort CRM, Demed Medical, Beikang Medical, Taimei Technology, Clover Biopharmaceuticals, Danxu Bio, Keya Robotics, and Genor Biopharma. We aim to partner with these enterprises as “friends of time,” jointly driving innovation and development in the broader healthcare sector to benefit more patients.

Legend Capital is an independent professional venture capital firm under Legend Holdings, established in April 2001. Its core business focuses on early-stage venture capital and growth-stage expansion investment, with a strategic emphasis on TMT and innovative consumption, professional services and intelligent manufacturing, healthcare, and culture and sports sectors. The total assets under management in USD and RMB funds exceed RMB 50 billion, with a primary focus on innovation and growth opportunities in China.

As of 2020, Legend Capital had invested in nearly 450 portfolio companies, among which more than 70 have successfully listed or been quoted on domestic or overseas stock exchanges, and over 60 have achieved exit through mergers and acquisitions.

3H Health Investment is a private equity fund dedicated to the healthcare industry. We focus on addressing unmet clinical needs by investing in innovative healthcare technologies, driving their clinical translation and industrialization to save more lives and improve patients’ quality of life. Leveraging deep resources in clinical practice, industry, and policy, 3H Health Investment collaborates with partners to build great healthcare technology enterprises.

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. By closely monitoring market dynamics and investment trends in healthcare over the long term, the firm releases weekly healthcare investment reports and thematic research studies, offering Haoyue’s perspectives on new policies and emerging frontiers.