Suzhou Singular Medical Secures $10M Series A Funding Led by Qiming Venture Partners

March 17 (ID: pedaily2012) - Suzhou Singular Medical announced the completion of its Series A financing round, raising tens of millions of US dollars. This round was led byQiming Venture PartnersLead Investor, Existing ShareholdersAurora BorealisVenture Capital,MARATHON VENTURE PARTNERSCo-investment with Suzhou New District Venture Capital. It is understood that the financing will be primarily used for small-batch production and early-stage clinical trials of implantable cardioverter-defibrillators (hereinafter referred to as “ICDs”), as well as the research and development of multiple CRM products.

Singular Medical, established in 2017, is a deep-tech enterprise dedicated to the research and development and industrialization of medical devices for cardiac rhythm management (hereinafter referred to as “CRM”). Headquartered in the Medical Device Industrial Park in Suzhou New District, the company operates a 2,800-square-meter manufacturing facility and has R&D centers in Beijing and Irvine, USA.

Starting with ICDs, the most technically challenging products in the CRM field, the company has built a comprehensive CRM technology platform and is evolving into a full-line supplier of CRM products in China, capable of providing end-to-end solutions for a broad population of arrhythmia patients, encompassing monitoring, diagnosis, treatment, and post-operative follow-up.

Singular Medical’s implantable cardioverter-defibrillator (ICD) has successfully completed multiple animal trials, with the latest prototype meeting world-class technical specifications. Furthermore, the company has completed construction of China’s first Class 10,000 clean production workshop, spanning nearly 400 square meters, laying a solid foundation for the industrialization of ICDs and other cardiac rhythm management (CRM) products.

Regarding its team, Singular Medical has assembled a diverse group of professionals specializing in circuits, chips, software, structural processes, and clinical medicine. The company boasts a high-caliber team with expertise in product R&D, quality control, regulatory submissions, and corporate management. Furthermore, throughout its development, Singular Medical has consistently prioritized collaboration with renowned experts in the cardiac rhythm management (CRM) field. Over the past three years, the team has established partnerships with more than 20 distinguished U.S. experts.

According to data from the "China Cardiovascular Disease Report 2017," released by the National Center for Cardiovascular Diseases in the first half of 2018, the incidence rate of sudden cardiac death (SCD) in China is 41.8 per 100,000 people. The annual number of SCD cases exceeds 540,000, with an average of approximately 1,500 deaths per day attributed to this condition. Clinical studies have demonstrated that implantable cardioverter-defibrillators (ICDs) are the preferred treatment for malignant ventricular arrhythmias, offering efficacy far superior to all antiarrhythmic medications available on the market. In American, European, and Chinese guidelines for the prevention of sudden cardiac death, ICDs are listed as the sole Class I recommendation and are widely recognized as the "only effective" therapeutic device.

In contrast to the high incidence of sudden cardiac death, only 5,192 implantable cardioverter-defibrillator (ICD) devices were implanted annually in China in 2018. In the United States, where the market is more mature, the number of ICD implantation procedures had already reached 200,000 in 2016. Currently, China has only two ICDs per million people, whereas European and American countries have 600–800 ICDs per million people—more than 300 times that of China. According to statistics from the online registration system of the National Health and Family Planning Commission, the number of ICD implantations in China has been on a continuous upward trend, with a growth rate of approximately 20% in recent years.

Ping Lichuan, Co-founder of Singular Medical, stated that with the completion of this round of financing, Singular Medical will further strengthen product research and development, promote the smooth conduct of clinical trials for its first domestically produced ICD, and benefit patients in China at an earlier date.