Nuveen Medical Secures Nearly RMB 100 Million in Series B Extension Financing Led by Renowned PE and Dacheng Capital, with Haoyue Capital as Exclusive Financial Advisor

Recently,Shanghai NewMed Medical Co., Ltd., a leading domestic company in mitral valve interventional therapy, announced that it has secured nearly RMB 100 million in additional Series B financing from a renowned international private equity firm and Fortune Capital., Hylink Capital served as the exclusive financial advisor for this round of financing.The proceeds from this round of financing will be used to further advance the clinical development, regulatory registration, and market launch of China’s first transcatheter mitral valve replacement system. In March 2020, NewMed secured a tens-of-millions-of-US-dollars investment from OrbiMed.

Regarding the consecutive investments from renowned institutions, founder Yu Qifeng stated, “We are deeply grateful for the capital market’s recognition of NewMed, and we also sincerely thank our existing shareholders for their unwavering support. Transcatheter mitral valve replacement products feature high technical barriers, require substantial capital investment, and address an urgent clinical need.”The funds from this round of financing will be used to further advance the clinical development and regulatory approval for market launch of the transcatheter mitral valve product.Following the completion of the financing, NewMed will further strengthen product research and development, accelerate commercialization, maintain innovation and focus, bring more innovative medical products to clinical application, and benefit patients.”

Li Jiangfeng, Managing Director of Healthcare Investment at Fortune Capital, stated, “Valvular heart disease is characterized by high prevalence, high mortality, and low treatment rates, representing a typical unmet clinical need. Interventional valve therapies treat valvular disease through minimally invasive approaches, addressing the pain points of existing technologies. This aligns with industry development trends and offers substantial clinical value.”As one of the most challenging segments in the valve field, the clinical application of mitral valve interventional devices will accelerate with the maturation of technological R&D in the coming years. NewMed is positioned as a provider of comprehensive solutions for the mitral valve, boasting profound technical expertise, a rational product portfolio, and strong team execution. Having completed multiple exploratory clinical trials, the company is poised to evolve into a highly competitive platform enterprise within the valve sector.“Innovative medical devices are a key investment focus for Fortune Capital’s healthcare portfolio. We look forward to collaborating with Mr. Yu’s team and our investor partners to accelerate the rapid growth of NewMed, delivering high-quality, valuable products and services to clinicians and patients.”

Liu Hao, Founder and CEO of Hywin Capital, stated, “We are honored to continue serving NewMed. Adhering to a customer-centric approach, we remain committed to supporting industry-leading innovative enterprises. The field of transcatheter mitral valve therapy presents exceptionally high product barriers, with mitral valve replacement representing a particularly challenging global R&D frontier.”NewMed’s team has dedicated over a decade to the research and development of interventional heart valves. The craftsmanship spirit embodied by Mr. Yu and the NewMed team has laid the foundation for creating the world’s first mitral valve replacement product to enter clinical trials. By securing a strong position in the broad field of transcatheter mitral valve interventions, NewMed has developed Asia’s first TMVR product, which has demonstrated excellent clinical trial data."We believe that NewMed will gain greater recognition from clinicians and the capital market in the future."

Shanghai NewMed Medical Co., Ltd., established in 2015, is a high-tech medical innovation enterprise with independent intellectual property rights. The company focuses on the research, development, and industrialization of interventional artificial heart valve systems at an internationally advanced level. We listen to the voices of patients with heart valve diseases, understand the clinical needs of physicians, and adhere to the principles of professionalism, safety, and efficiency. Collaborating with experts in the field of cardiovascular disease, we are committed to providing more high-end medical devices that benefit the general public for clinical practice and patients. Our goal is to build a premium medical device enterprise in China that integrates R&D and manufacturing, keeping pace with international standards, and realizing our vision of innovation benefiting lives.

NewMed is committed to innovative R&D, academic advancement, and the widespread adoption of therapies. By building an integrated management team spanning industry, academia, research, and clinical practice, and establishing strong collaborative partnerships with renowned hospitals and universities in China, NewMed has developed a portfolio of innovative medical products for transcatheter heart valve interventions, filling domestic gaps in both products and technologies.

The company's projects have received support from multiple R&D funds, including the National Ministry of Science and Technology's 13th Five-Year Plan projects and the Shanghai Municipal Science and Technology Commission's Science and Technology Support Program. As of December 2019, the company had filed more than 70 patent applications.

Life is paramount; innovation knows no bounds. Adhering to its quality policy of “consistently providing high-quality products and services that meet or exceed customer needs,” NewMed remains committed to the continuous research and development of heart valve-related products, benefiting a vast number of patients with valvular heart disease and safeguarding lives.