VenMed Completes Tens of Millions RMB Series A+ Financing, Pioneering China's First Integrated Platform for Venous Therapy

VCBeat has learned that recently, the first company in China specializing in the field of intravenous therapySuzhou Venmed Technology Co., Ltd. (Venmedtech)Successfully completed tens of millions of yuan in Series A+ financing，bySND Venture Capital and Greenriver Investment made a joint investment.The proceeds from this financing will be used to further advance clinical-stage products and develop subsequent pipeline candidates.

Venmedtech, established in March 2016, is China’s first high-tech medical innovation enterprise with independent intellectual property rights, dedicated to the development of products in the field of intravenous therapy. Since its inception, the company has been committed to innovation, continuously strengthening close collaboration with clinical practice. By launching innovative products tailored to clinical needs, Venmedtech aims to address challenges in clinical treatment.

“Venmedtech has attracted capital attention. I believe the first reason is that the domestic intravenous therapy market is an area urgently in need of development, and we are the earliest Chinese company to pioneer this field. The second reason is Venmedtech’s team advantages—our talent pool combined with efficient R&D and operations have established our leadership in this sector,” shared Wang Yonggang, Chairman of Venmedtech Medical, when discussing the reasons behind this financing round.

Over the past 30 years of development in endovascular intervention technology, research and development efforts have primarily focused on arterial diseases, with interventional stents consistently designed based on the structural characteristics of arteries. However, the incidence of venous diseases is actually far higher than that of arterial diseases.

Wang Yonggang pointed out that, in clinical practice,Venous diseases account for approximately 60% of vascular surgical conditions., with the incidence of venous thromboembolism (VTE) ranking second only to coronary heart disease and stroke, and the potential patient population being no smaller than that undergoing coronary interventions, it represents another significant market worth investing in within the cardiovascular and cerebrovascular fields. As clinical treatment continues to advance,The usage volume of venous interventional therapy devices is also surging at a compound annual growth rate (CAGR) of 20%.

“Although there is substantial clinical demand, the relevant medical device products in this field are almost entirely monopolized by foreign companies,” said Wang Yonggang. Due to the high prices of imported products, patients face significant financial burden. Some patients forgo treatment or opt for conservative management due to financial constraints, and such delays in treatment further exacerbate their condition, leading to an increased long-term treatment burden. This highlights a prominent pain point in clinical practice.

Drawing on nearly two decades of experience in the cardiovascular field, along with the national policy drive for import substitution and the increasing consensus in academic discussions on venous therapy, Wang Yonggang believes that market opportunities for domestically produced venous interventional medical devices have arrived.

Following initial assessments in 2015, Wang Yonggang established Suzhou Venmed Technology Co., Ltd. in the Suzhou New District the following spring. Currently, more than half of the company’s employees are R&D personnel, comprising top-tier talent across medicine, engineering, and materials science. Additionally, the company boasts a team of senior clinical expert consultants specializing in venous therapy, ensuring close alignment with frontline clinical practice.

Wang Yonggang introduced,Products of VenmedtechThe goal is to cover the entire process of intravenous therapy.. In intravenous therapy,The four major conditions are obstruction, stenosis, thrombosis, and reflux.Venmedtech’s first phase primarily addresses issues of occlusion and stenosis.

Pursuing efficient R&D, established in just 4 years,Venmedtech has obtained four NMPA product registration certificates.The company’s flagship product, the iliac vein stent system, was successfully approved for inclusion in the National Special Approval Procedure for Innovative Medical Devices in October 2018. Since its establishment, the company has filed 26 patent applications, including seven granted invention patents, one PCT patent, and one granted US invention patent; a European patent is currently in the publication stage. Additionally, between 2018 and 2019, the company co-published four related academic papers, of which one was indexed by SCI, two by EI, and one in a core journal.

“Phase IWe have developed products such as stents and balloons. Among them, the iliac vein stent project completed full clinical enrollment in 2019, and follow-up work is currently progressing smoothly;Phase II“We will focus on addressing issues such as thrombosis and next-generation treatments for varicose veins, and innovatively develop corresponding products to tackle these challenges,” said Wang Yonggang. Leveraging its technological leadership, Venmedtech has currently established collaborations with more than twenty renowned medical institutions in China.

He stated that the company will leverage its robust capabilities in integrating medical technology with biomedical engineering to develop and manufacture superior products that are internationally leading in technology and demonstrate significant clinical value. Upon market launch, these products will thoroughly address current pain points in clinical treatment, gradually replace imported alternatives, reduce surgical costs, alleviate the financial burden on patients, and better serve the broader patient population.

The company’s subsequent product pipeline also includes multiple products for the treatment of venous diseases, while expanding from the treatment end to disease screening, diagnosis, and prognosis management.

Finally, Wang Yonggang told VCBeat,If China's current peripheral vascular intervention market is likened to the booming coronary artery market of a decade ago, then the next five to ten years will usher in a "golden decade" for venous therapy.He analyzes that China's venous interventional medical device industry is expected to develop into a massive industry with a scale of tens of billions of yuan over the next decade.

“Against this backdrop, the Venmedtech medical team will leverage its in-depth understanding of clinical needs to build a comprehensive product portfolio, achieving end-to-end product coverage across the entire field of intravenous therapy, thereby establishing an integrated ecosystem management system. Together with experts in the field of venous diseases, we are committed to bringing more high-end medical device products to clinical practice that benefit the general public,” said Wang Yonggang.

Miao Lü, Partner at Suzhou Hi-Tech Venture Capital, stated:“Venmedtech is a leading enterprise in the field of venous therapy, with a portfolio spanning multiple products in this domain. Its products and technologies hold a leading position in China. We are firmly optimistic about the company’s platform-based strategy and execution capabilities, and we are committed to supporting the commercialization of its diverse product lineup. Furthermore, we highly appreciate the R&D and clinical development speed demonstrated by the Venmedtech team, which fully reflects the company’s clear strategic focus, strong execution, and cohesive culture.”

Yang Jianxing, Partner at Greenriver Investment, stated:“We are optimistic about the market potential and future growth rate of China’s venous disease treatment sector. Venmedtech has assembled a team of seasoned experts in operations, clinical practice, and R&D within this field. Its professionalism in pipeline selection, structured approach to product development, strong execution in clinical planning, as well as the compliance and transparency of its corporate operations, are all impressive. Venmedtech has already demonstrated the potential to become a platform company for venous disease treatment devices, and we are committed to helping realize this vision.”

About SND Venture Capital

Suzhou Hi-Tech Venture Capital Group Co., Ltd. serves as the equity investment platform and the operating management institution for the government-guided funds of Suzhou Jin Hesheng Holdings Co., Ltd., a wholly state-owned financial holding group in Suzhou New District. Leveraging extensive investment experience, a high-caliber management team, and rigorous management systems, the company has established a fund investment framework covering the entire corporate lifecycle. To date, Suzhou Hi-Tech Venture Capital has participated in 51 funds with a total scale exceeding RMB 13.368 billion. These funds have collectively invested in over 500 projects, facilitated the listing of nearly 40 high-tech enterprises on the Shanghai and Shenzhen stock exchanges, and supported several companies in applying for the first batch of listings on the STAR Market.

About Greenriver Investment

Shanghai Greenriver Investment Co., Ltd.Established in 2007, Shanghai Greenriver Investment Co., Ltd. is a venture capital firm specializing in equity investments. The company primarily invests in early-stage startups within emerging industries. It maintains professional investment teams dedicated to long-term research and tracking in sectors such as biomedicine, new energy, new materials, and high-end manufacturing. The company has completed strategic investments in numerous early-stage growth companies, providing capital and operational support to high-quality ventures, thereby contributing to China’s economic transformation and development. Currently, the total assets under management amount to nearly RMB 2 billion.