[Lieyunwang (WeChat ID:ilieyun
) Beijing] Reported on December 27
Lieyun.com has learned that Shanghai Hanyu Medical Technology Co., Ltd. (hereinafter referred to as “Hanyu Medical”) recently completed a RMB 100 million Series B financing round, led by Fujian Yingke Venture Capital Co., Ltd., with participation from Hetang Venture Capital and Yue Yin Datong (Tianjin) Asset Management Co., Ltd. The existing shareholder, Lize Fund, also continued its participation. Fujian Yingke Venture Capital Co., Ltd. has secured one seat on the board of directors.
Hanyu Medical is a company engaged in the research and development, production, and sales of interventional medical devices for heart valves. The company’s core product is ValveClamp, an interventional device for the mitral valve, used to perform minimally invasive interventional treatment for mitral regurgitation. With the completion of this round of financing, the company will accelerate the market launch of the ValveClamp product and strengthen the research and development of new products.
With the onset and acceleration of population aging in China, the incidence of cardiovascular disease is becoming increasingly frequent, with a large number of patients suffering from mitral regurgitation. Currently, the only effective treatment for moderate to severe mitral regurgitation is open-heart surgery. However, this surgical approach has disadvantages such as significant trauma, high risk, considerable pain, and slow recovery. Consequently, a large number of patients do not receive treatment due to the excessively high surgical risks.
Currently, the only approved and commercially available mature minimally invasive device for mitral regurgitation worldwide is Abbott's MitraClip. According to Abbott's public information and conclusions from large-scale clinical studies, the safety and efficacy of the MitraClip product have been confirmed, and its indications are continuously expanding. MitraClip is expected to become a strong growth driver for Abbott.
No minimally invasive interventional devices for mitral regurgitation have yet been marketed in China. According to Hanyu Medical, its ValveClamp system was used in July 2018 at Shanghai Zhongshan Hospital to perform the world’s first clinical procedure using transapical mitral valve clipping technology, with the final case of the exploratory clinical trial completed by the end of that year. Multicenter, large-sample clinical trials are scheduled to commence next year. This product has achieved a major breakthrough in China’s independently developed mitral valve devices during surgical applications and is poised to become the first approved interventional device for mitral valve therapy in the country.
Interventional devices for mitral regurgitation represent one of the hottest areas in global medical device R&D. Predicted by authoritative institutions as one of the top ten most influential medical innovations of 2019, this field features high technical barriers, requires capital-intensive investment, and presents extremely high R&D challenges.
Regarding the investor, Yingke Capital has extensive and in-depth layouts in the innovative biopharmaceutical field. Relying on Tigermed, the leading clinical CRO enterprise in China, it has established multiple phases of biopharmaceutical investment funds and invested in more than 70 biopharmaceutical companies in recent years. In 2017, it even made a significant investment to gain controlling stakes in Puresun, one of the top pharmaceutical clinical data statistics companies in China. It is reported that in 2018 alone, Yingke Capital invested in nearly 20 biomedical enterprises, including Jihe Biologics, Aike Baifa, Haihe Biopharma, Hengyi Biotech, Changfeng Hospital, and Health Power, with an investment amount close to 3 billion yuan.