Meio HeartTech Completes Series A+ Financing to Accelerate Commercialization of Cardiac Interventional Surgical Robots

VCBeat has learned that Shaoxing Mayo Cardio-Magnetic Medical Technology Co., Ltd. (“Mayo Cardio-Magnetic”) has recently completed its Series A+ financing round, led by Creation Investment.This round of financing also marks the new round of funding rapidly completed by Mayo Heart Magnetism within half a year, following its Series A financing in February this year, which was exclusively invested by the Shaoxing Yuecheng District Urban Development Group. According to Dr. Chen Yuemeng, founder of Mayo Heart Magnetism, after the completion of this round of financing, Mayo Heart Magnetism will accelerate the TITIAN Titian^®Advance the clinical registration process for cardiac electrophysiology interventional device control systems, accelerate the R&D of multiple flagship surgical assistance control system product lines, further refine the operational framework, and enhance the company’s technological advantages in surgical assistance control systems within the field of cardiac interventions.

Mayo CardioMagnetic was established in 2018, jointly founded by experts from Zhejiang Province’s “Talent Introduction Program,” chief physicians specializing in clinical cardiology, and a leading entrepreneurial team in Zhejiang Province. Mayo CardioMagnetic is committed to developing novel auxiliary control systems for cardiac interventional procedures. Leveraging its independently developed technologies—including intracardiac surgical navigation, energy ablation platforms, and flexible interventional consumables—the company provides surgical treatment solutions for cardiac electrophysiology and structural heart diseases, driving breakthrough advancements in cardiac interventional surgery. Currently, Mayo CardioMagnetic is headquartered in Shaoxing, Zhejiang Province, with core product R&D centers located in Shanghai and Hangzhou. In March 2023, relying on its robust core technologies, independent innovation capabilities, and high-performance products,The First “TITIAN Titian”^®“Cardiac Electrophysiology Interventional Device Control System” Approved for Entry into the National Special Review Procedure for Innovative Medical Devices, i.e., the “Green Channel” for Innovation.

Currently, China has a vast number of patients with cardiac arrhythmias, among which atrial fibrillation (hereinafter referred to as “AFib”) is one of the most common clinical rapid arrhythmias. According to statistics from the National Bureau of Statistics of China, there are currently over 12 million AFib patients in China. AFib is closely associated with age, with prevalence increasing significantly in older populations. The prevalence of AFib among adults aged 45 and above in China is approximately 2%, while the incidence rate soars to 10% among those aged 75 and older. With China’s population aged over 70 currently standing at 117 million, the number of AFib patients is expected to rise further amid the aging trend. Globally, the number of electrophysiology catheter ablation procedures reached 1.0541 million in 2021 and is projected to exceed 2 million by 2025. In contrast to the 8% treatment penetration rate for AFib in European and American markets, China’s electrophysiology market is still in a stage of rapid development. In 2021, more than 210,000 cardiac electrophysiology procedures were performed in China, including nearly 90,000 AFib ablations; however, this only met the surgical needs of less than 1% of AFib patients.

Although cardiac electrophysiology has become the fastest-growing and most promising niche within China’s cardiovascular intervention sector, increasing the penetration rate of surgical treatment still faces significant challenges. On one hand, cardiac interventional procedures carry higher risks, requiring physicians to possess extensive clinical experience and a substantial accumulation of operative hours; consequently, the training cycle for cardiologists is often longer. On the other hand, China continues to face an imbalance in the distribution of medical resources, with the majority of physicians qualified to perform cardiac interventional surgeries concentrated in the economically developed coastal regions.

Ensuring the safe implementation of surgical procedures while further enhancing operational efficiency on the basis of safety remains a significant challenge facing the industry today. Mayo Heart Magnet is dedicated to addressing this issue.

Mayo Heart Magnetism’s current product pipeline under development includes China’s first TITIAN Titian^®Cardiac Electrophysiology Interventional Device Control System, Mantai^®One-Stop Control System for Atrial Fibrillation Catheter Ablation and Left Atrial Appendage Occlusion: Laffero^®Magnetic Navigation Flexible Surgical Control System. Among them, TITIAN^®The cardiac electrophysiology interventional device control system is compatible with mainstream electrophysiological ablation catheters and guide sheaths, enabling physicians to remotely perform interventional procedures for complex cardiac arrhythmias such as atrial fibrillation. While enhancing procedural precision and operational stability, it significantly shortens the learning curve for mastering complex 3D electrophysiological interventions. Mantai^®As the world’s first one-stop integrated control system for combined electrophysiological catheter ablation and left atrial appendage (LAA) closure procedures, it is applicable to various types of electrophysiological catheter ablation as well as LAA occluder implantation for patients at long-term risk of cardioembolic stroke. Mayo Heart Magnetism’s Raphaelo^®Flexible Magnetic Navigation Surgical Control System: By controlling the main platform via an electromagnetic navigation magnetic field to perform flexible catheter ablation, this system revolutionarily reduces the risk of cardiac perforation complications compared to rigid catheter ablation, while improving the success rate of treating complex arrhythmias and enabling ablation in complex cardiac anatomical regions that are inaccessible to conventional manual procedures.

This March, Mayo Clinic’s Cardiovascular Magnetic Resonance TITIAN Titian^®“Cardiac Electrophysiology Interventional Device Control System” Approved for Entry into the “Innovation Green Channel”As the first cardiac interventional surgery control system to enter the innovative green channel,For Mayo Heart Magnetism, this signifies the National Medical Products Administration’s recognition of the innovation and clinical value of its products. “To qualify for the innovative green channel, a product must operate in a sector with a vast market, demonstrate proven safety and efficacy in clinical practice, and possess distinctive innovative features.” For the industry, this signals an imminent breakthrough in the field of cardiac interventional procedures, leading to the emergence of standardized surgical platforms. This also implies enhanced standardization of physician training, enabling doctors to learn procedural techniques on standardized surgical platforms and thereby improve surgical quality.

TITIAN Titian^®As Mayo Heart Magnet’s flagship product in the field of electrophysiological catheter ablation, the cardiac electrophysiology interventional device control system featuresThe Following Four Core Innovations:

Titian^®The cardiac electrophysiology interventional device control system holds several core Chinese invention patents in technical fields such as combined manipulator-sheath control, remote control of electrophysiology interventional devices, and dual-arm separate drive systems. Currently, TITIAN^®The cardiac electrophysiology interventional device control system has launched registration-based clinical trials at multiple Grade A tertiary hospitals and national or regional large-scale atrial fibrillation centers across China. At this stage, feedback from physicians and patients has been positive, and patient enrollment is proceeding smoothly. By the end of 2023, Mayo Magnetics will complete the TITIAN Titian^®The cardiac electrophysiology interventional device control system has completed enrollment for all registration-related clinical trials, and the product registration application has been submitted to the NMPA.

With the introduction of surgical assistance control systems, more precise and safer treatments are undoubtedly on the horizon. Against the backdrop of supporting medical device innovation and meeting the needs of doctors and patients, there is immense potential for the future development of cardiac interventional surgery assistance control systems. According to the latest statistical data, the sales revenue of electrophysiology manufacturers in the Chinese market reached 11 billion yuan in 2022 and is projected to increase to 15.726 billion yuan by 2025. However, due to the currently low penetration rate of corresponding procedures, cardiac electrophysology remains a key market where surgical assistance control systems can make significant strides.

Mayo Heart Magnetism is at the optimal juncture, benefiting from favorable timing, geographic advantages, and strong human resources. This is precisely why investors have chosen to back Mayo Heart Magnetism despite the broader industry’s “winter” climate. To some extent, this is because the development of the healthcare sector aligns with China’s national policies and can better drive national economic growth. Moreover, extending medical resources to second- and third-tier cities requires more physicians to possess advanced surgical skills. Cardiac interventional surgery assistance control systems can help doctors perform such procedures more safely. Most importantly, TITIAN^®Entry into the “Innovation Green Channel” has cemented Mayo Heart Magnet’s position as the industry leader in cardiac interventional surgery assistance and control systems, serving as the strongest testament to the capabilities of the Mayo Heart Magnet team.

Dr. Chen Yuemeng, founder of Mayo Heart Magnetism, stated that the current development trend of China’s electrophysiology market is similar to the starting point of the PCI stent sector in its early days: a landscape characterized by a shortage of physicians, a large patient population, and a monopoly held by imported devices. The strategic focus chosen by Mayo Heart Magnetism isBy building an innovative procedural platform in the field of cardiac intervention, we help more physicians better master these techniques and perform surgeries safely.To better meet hospital needs, Mayo Heart Magnet has chosen to integrate with mainstream catheter ablation products and established comprehensive collaborations with innovative manufacturers. It is committed to promoting surgical standardization and increasing procedure volumes, thereby delivering enhanced clinical safety and social value for both physicians and patients!

In the competitive landscape of domestically produced medical devices, short-term success hinges on speed, while long-term viability depends on product quality, platform iteration capabilities, and clinical value. In this regard, Mayo Heart Magnetism undoubtedly possesses strong future growth potential and value, both in its short-term execution and long-term product planning.

To better accelerate R&D efforts, in late 2022, Mayo Heart Magnetics entered into an industry-academia-research collaboration with the Shaoxing Institute of Zhejiang University and the Science and Technology Bureau of Yuecheng District, Shaoxing, to jointly establish an R&D experimental platform for integrated circuits (ICs) used in magnetic navigation-assisted surgical control systems. The two parties are collaborating on core chip technologies, extending the R&D of surgical assistance control systems from the application level upstream along the industrial chain. This initiative is expected to fill the domestic industrial gap in the field of integrated circuits for surgical assistance control systems.

These undoubtedly constitute the overall competitive barriers of Mayo Heart Magnetism. The completion of this round of financing,It will significantly empower Mayo Heart Magnetism to sustain innovation and advance the clinical development of its products under investigation.As a team with exceptional execution capabilities in the “hard tech” sector, we also look forward to Mayo Heart Magnetism reaching new heights and achieving even greater success.

Regarding this round of financing, Wang Yuqiao, Partner at Shanghai Creation Investment, stated: “As a leading domestic R&D company specializing in auxiliary control systems for cardiac interventional procedures, Mayo XinCi has independently designed and developed several flagship surgical assistance control system products, aligning with the industry trend toward zero-fluoroscopy green ablation. The company’s first-generation product, ‘Titian’”^®“Clinical trial progress is leading in China, and it has obtained the NMPA ‘Green Channel’ approval. The second-generation product ‘Tixiang II’”^®“As we fully implement zero-fluoroscopy catheter ablation, we are also expanding indications to the treatment of structural heart disease, providing superior clinical solutions for more physicians and patients. Creation Investment is delighted to partner with Mayo Heart Magnetism to witness the tremendous potential brought by surgical assistance control systems in the field of cardiac intervention. Creation Investment also wishes the Mayo Heart Magnetism team continued success in advancing their cardiac intervention surgical control system and all domestically produced cardiovascular interventional robots, enabling China to lead the world.”

Shanghai Creation Investment Group was formally established in 2009. It is an investment firm that simultaneously manages equity investment funds and a platform for the commercialization of medical technological achievements. With promoting the upgrading of China’s healthcare industry as its core value, the group is dedicated to investing in high-end medical technology innovations both within China and globally. Since its inception, Creation Capital has invested in numerous domestic and international healthcare companies, many of which have successfully gone public.

Creation Investment has formed partnerships with renowned domestic and international medical institutions, including Cleveland Clinic (USA), Stanford Hospital (USA), Maccabi Healthcare Services (Israel), Chongqing Medical University, and Chengdu University of Traditional Chinese Medicine, to jointly establish an official platform for the commercialization of scientific and technological achievements.

Creation Investment has partnered with multiple powerful industrial groups, including Chongqing Huayi Group, Chongqing Dianshi Chuangjian (a subsidiary of Chongqing Xintian Investment), Hangzhou Industrial Asset Management Group, and Huaian Investment Holding Group.

Shanghai Creation Investment is positioned to drive life sciences by leveraging clinical medical research as its foundation, equity investment as its means, and medical translation centers as its support, thereby promoting the upgrading of China’s healthcare industry and establishing itself as a global leader in driving life sciences.