Dingke Medical Secures Nearly RMB 100 Million in Series B+ Financing to Advance Innovative Interventional Balloon Portfolio

VCBeat learned at the earliest opportunity that recently,DK Medical Technology Co., Ltd. (Suzhou) (hereinafter referred to as “DK Medtech”) Announces Completion of Nearly RMB 100 Million in Series B+ Financing, this is a new round of financing following the RMB 60 million Series B funding in 2018.This round of financing was jointly invested by Jinbang Capital and Huachuang Capital, with existing shareholder Qiming Venture Partners continuing to participate.

Weng Yulin, Founder and CEO of DK Medtech, stated that the successful fundraising during the COVID-19 pandemic reflected investors’ strong confidence in DK Medtech’s strategic layout and affirmed the team’s consistent high-level execution capabilities.This round of funding will be used to build a large-scale sales team, promote the marketing of launched products, and support the research and development of subsequent new products.

DK Medtech is a leading domestic innovator of high-value interventional balloon consumables, focusing on the balloon segment where domestic market share is low. It has developed more than ten types of balloons, including standard balloons, high-pressure balloons, scoring balloons, and drug-coated balloons.

It is understood that DK Medtech’s product portfolio covers nearly all vascular intervention fields, including cardiovascular, peripheral, and neuro-interventions. After a four-year start-up phase,DK Medtech has obtained three Class III medical device registration certificates, is currently conducting clinical trials and regulatory submissions for four core products, and has multiple innovative products in the research and development stage.With its diverse product portfolio, DK Medtech has emerged as a rising star among domestic balloon catheter companies in China.

Cardiovascular diseases have become a major threat to the health of the Chinese population. Among these, coronary artery diseases are particularly prevalent, with their incidence rates rising year by year. In 2018, the number of percutaneous coronary intervention (PCI) procedures performed in China exceeded 900,000, representing a year-on-year increase of approximately 21.5% compared to the previous year. From 2009 to 2018, the compound annual growth rate (CAGR) was 16.7%, indicating an overall accelerating growth trend. Within PCI procedures, stent implantation for the treatment of coronary stenosis is the mainstream therapeutic approach; data reveals that stent implantation accounts for nearly 90% of such procedures. Annually, over one million stents are implanted.

Although coronary stenting is the mainstream treatment, it has certain limitations. For instance, there are risks of post-procedural stent thrombosis and bleeding, in-stent restenosis, and suboptimal long-term outcomes. In the context of the "intervention without implantation" trend, the emergence of drug-coated balloons (DCBs) offers a promising solution to these issues. DCBs represent a non-stent therapeutic technique applied in both coronary and peripheral arterial diseases. By locally releasing antiproliferative drugs into the arterial wall, DCBs effectively inhibit neointimal hyperplasia. The adoption of DCBs can reduce stent usage and improve patients' long-term prognostic benefits.

In interventional therapy, coronary stents are used in large volumes and have a high rate of domestic production; currently, 70% of coronary stents in China have been replaced by domestically produced alternatives. In contrast, while drug-coated balloons show promising prospects, the market is still dominated by imported brands.

The low rate of domestic production also signifies immense market opportunities. After identifying this opportunity in the balloon catheter market, Weng Yulin, a key R&D figure at Biosensors, the world’s fourth-largest drug-eluting stent manufacturer, chose to return to China to start his own venture. In June 2016, he founded DK Medtech in Suzhou BioBay, focusing on the research, development, and manufacturing of various vascular interventional balloon products.

He pointed out that DK Medtech aims to become the leading innovative company in China providing comprehensive solutions for interventional balloons.

Currently, DK Medtech has completed its layout in three major fields in terms of product line strategy. Among them,Peripheral Field, with a "hemodialysis access" balloon product line, addressing the heavy economic burden faced by hemodialysis patients in China, it has launched a portfolio of low-, mid-, and high-end products at different price points, providing diverse options for patients with varying purchasing power;

InCardiovascular Field, with a "coronary heart disease" balloon product line that covers a series of key steps in PCI procedures: pre-dilation - adequate preparation - drug-coated balloons - post-dilation, positioned as an overall balloon solution for PCI surgeries;

InNeurointerventional Field, currently, DK Medtech has laid out two balloon products. Compared with the existing competing products on the market, these two balloon products from DK Medtech will match imported brands in performance and fully reflect the high cost-effectiveness of domestically produced products in pricing.

“In each of our core areas of expertise, we have our own flagship products. We have developed a comprehensive portfolio of balloon catheters at high, mid, and low price points centered around these core products to fully meet patient needs,” stated Weng Yulin.

Weng Yulin believes that the successful securing of this round of financing can be attributed to the following key factors:

I. Synergistic Product Portfolio, the Chinese market for medical interventional devices has become increasingly mature, making it inefficient to enter the market with a single product. DK Medtech’s entry into any field is always centered around specific procedural techniques, providing comprehensive global solutions;

II. Possess Differentiated Product Features, Amidst fierce competition and the pressure of centralized procurement, similar products will inevitably face increasing difficulties; product differentiation may well determine a company's survival.

III. Truly Meeting the Needs of CliniciansPhysicians are the end users of medical products, and their feedback is crucial for product improvement and development. The most fundamental responsibility of manufacturers is to ensure that their products meet physicians’ expectations.

Finally, regarding future development, Weng Yulin, CEO of DK Medtech, stated that the initial layout of the company’s R&D product pipeline has been completed. The next phase will focus on building the sales team and promoting market expansion. The goal is not only to drive sales in the Chinese market but also to leverage highly innovative products to explore broader overseas opportunities. With a foothold in China and a commitment to serving the global market, DK Medtech aims to ensure its voice is increasingly heard in the industry over the next five years.

Regarding this investment,Guo Chuanhai, Partner at Jinbang Capital, believes：“Balloon catheters have significant clinical demand in China. DK Medtech is currently one of the companies with the most comprehensive pipeline of balloon catheter products under development in China. With a capable entrepreneurial team and advanced product design concepts, it is poised to become a successful medical device company specializing in the field of balloon catheters.”

Xiong Weiming, Partner at Huachuang Capital, stated：“Huachuang Capital is bullish on the ‘intervention without implantation’ sector and highly recognizes DK Medtech’s product capabilities, sales strategy, and market layout. DK Medtech has demonstrated rigorous design in its clinical trials, with product indications closely aligned with clinical needs. We hope DK Medtech will continue to provide more solutions for clinical practice.”

Zhang Ao, Executive Director at Qiming Venture Partners, stated:“It has been less than two years since our initial investment, and DK Medtech has consistently achieved numerous milestones while strategically expanding its product portfolio. We are confident that DK Medtech will emerge as a leader in the interventional balloon field in the near future.”

Jinbang Capital was established in 2009, with its headquarters in Shanghai and branches in Beijing, Qingdao, and Nanjing. Jinbang Capital is a comprehensive asset management institution focused on investing in China's development opportunities, founded by well-known domestic entrepreneurs and investment professionals based on shared values. Its primary investment areas include consumer goods with brand strategies and the healthcare sector. Jinbang Capital is committed to identifying Chinese enterprises with long-term sustainable growth potential, leveraging our deep business insights and successful best practices, along with those of our partners, to help portfolio companies achieve rapid growth and success. To date, Jinbang Capital has invested in over 50 companies, with assets under management nearing RMB 10 billion.

HuaChuang Capital is a top-tier early-stage investment firm in China, providing venture capital to startups during their initial phases. While primarily focused on the Chinese market, it also maintains a presence in Silicon Valley, USA. Since its establishment in 2006, HuaChuang Capital has concentrated on early-stage investments in sectors such as software and services, technology and frontier innovations, as well as industry and consumer goods. Leveraging its extensive resources and expertise, the firm assists its portfolio companies with strategic planning, business expansion, and team building. Notable investments include Smzdm (300785.SZ), MissFresh, Xiachufang, Wish, Klook Travel, Tongdun Technology, QuantPai, Tongbanjie, Tiger Brokers (NASDAQ: TIGR), Bieyanghong, 2D Fire, PingCAP, Deephi Tech, Aibee, and LandSpace.

Founded in 2006, Qiming Venture Partners has established offices in Shanghai, Beijing, Suzhou, Shenzhen, Hong Kong, Seattle, Boston, and the San Francisco Bay Area. Currently, Qiming Venture Partners manages nine US dollar funds and five RMB funds, with total assets under management exceeding USD 5.3 billion. Since its inception, the firm has focused on investing in outstanding early-stage and growth-stage companies in sectors such as TMT and Healthcare. To date, Qiming Venture Partners has invested in more than 350 high-growth innovative enterprises, of which over 110 have achieved exits through listings on major exchanges—including the New York Stock Exchange (NYSE), NASDAQ, Hong Kong Stock Exchange (HKEX), Taipei Exchange (TPEx), Shanghai Stock Exchange (SSE), and Shenzhen Stock Exchange (SZSE)—as well as through mergers and acquisitions. More than 30 of these portfolio companies have become industry-recognized unicorns and super unicorns.