MicroPort CardioFlow Secures $130 Million Investment for Valvular Heart Disease Therapeutics

Source: China Financial Information Network

　　MicroPort(00853-HK) announced that on April 15, 2020, the target company MicroPort CardioFlow Medtech Corporation (hereinafter referred to as “MCMC”) entered into the agreement with eight investors (CMP Cardio Investment Limited, AUT-XVI Holdings Limited, LBC Sunshine Healthcare Fund L.P., CRF Investment Holdings Company Limited, Gamnat Pte. Ltd., Gortune Artemis Limited, Happy Soul Limited, and CDG Group Fund L.P.), pursuant to which the investors agreed to invest a total consideration of approximately USD 130 million in MCMC for an aggregate of 11,670,455 shares.

MCMC is an exempted company with limited liability duly incorporated and validly existing under the laws of the Cayman Islands. It is primarily engaged, through its subsidiaries, in the research, development, and commercialization of medical devices for the treatment of valvular heart disease.

The consideration was determined through fair negotiations with investors and by reference to MCMC’s valuation of US$1.1 billion immediately prior to the completion of the agreement.

Upon completion of this agreement, additional external investors will be introduced to MCMC, which is expected to bring more market resources for MCMC’s research and development, manufacturing, and market expansion, thereby enhancing its market competitiveness.

J.P. Morgan Securities (Asia Pacific) Limited and Citigroup Global Markets Asia Limited serve as the joint placement agents for the transactions contemplated under the agreement.

Responsible Editor: Lu Yujun