China's Venous Intervention Leader Tianhong Shengjie Secures Tens of Millions in Equity Financing Led by Chuangjing Capital, WinX Capital as Exclusive FA

Recently,China's Leading Venous Intervention Device Company —— Suzhou Venmed Technology Co., Ltd. ("Venmedtech") Officially Announces CompletionTens of Millions of Yuan in Equity FinancingThis round of financing was exclusively invested by Chuangjing Capital, which focuses on the healthcare industry, and WinX Capital served as the exclusive financial advisor.This capital injection will fully support Venmedtech in further solidifying its core technology barriers in peripheral venous intervention, accelerating the research and development and commercialization of innovative pipelines such as peripheral arteries and tumor embolization, deepening the "device + materials + supply chain" full industry chain layout, and leading the process of domestic substitution and globalization development of peripheral interventional devices in China.

Peripheral vascular intervention is a high-growth golden track, primarily divided into two major segments: arterial and venous. These two segments differ significantly in disease characteristics, technical requirements, and market potential, jointly constituting a billion-dollar market.

Market Overview:China has a large patient base of peripheral venous diseases (over 130 million people), mainly including varicose veins, deep vein thrombosis, and iliac vein compression syndrome. According to Frost & Sullivan data, from 2021 to 2030, the number of peripheral venous interventional procedures in China is expected to increase from 201,000 to 1,529,000 (CAGR=25.3%), and the number of peripheral arterial interventional procedures is expected to grow from 163,000 to 602,000 (CAGR=15.6%). Due to the slow progression of peripheral vascular diseases and the emerging development stage of vascular surgery, the penetration rates of both peripheral arterial and venous interventional procedures in China remain extremely low (less than 1%), indicating significant growth potential in the future.

Differences in Technical Barriers:Arterial interventional devices need to meet requirements such as high-pressure support and fatigue resistance (e.g., arterial stents must withstand the impact of high-speed blood flow). Drug-eluting stents and debulking devices are current technological hotspots. Venous vessel walls are thinner and contain valve structures, so devices must balance support and compliance (e.g., iliac vein stents need to balance pelvic compression tolerance with the impact on contralateral blood flow). The R&D difficulty is no less than that in the arterial field, and it is difficult to directly reuse arterial product technologies.

Opportunities for Domestic Substitution:In the arterial field, foreign investment still dominates, but the localization process in the venous field is faster —— As the R&D of venous devices needs to address clinical pain points (such as the large crown and segmented open-closed loop design of Venmedtech's iliac vein stent), local enterprises have achieved overtaking on a curve by leveraging the advantage of combining medical and engineering expertise, becoming the core breakthrough point for China-produced alternatives.

Illustration: Venmedtech Iliac Vein Stent: Innovation 1: Large coronal design; Innovation 2: Segmented open-closed loop stent design; Innovation 3: Breaking conventions, three-row imaging for more precise positioning; Innovation 4: Thin-walled stent design.

Venmedtech was founded in 2016 and has always adhered to the R&D concept of "addressing clinical pain points and upholding domestically produced originality." It is an innovative enterprise that leads in venous intervention and aims to build a globally leading peripheral intervention device platform. The company precisely targets the core diagnostic and treatment needs of over 160 million patients suffering from deep vein thrombosis, iliac vein compression syndrome, and lower limb arteriosclerosis occlusion. It has achieved 100% full coverage of peripheral venous disease devices while establishing a one-stop diagnostic and treatment solution covering peripheral veins, peripheral arteries, tumor embolization, and interventional access, completely breaking the long-term monopoly of imported brands in the high-end peripheral intervention device field.

Relying on its prominent medical-engineering integration capabilities and efficient R&D system, Venmedtech has formed a high-barrier technology and product matrix: the company owns more than 90 domestic and international invention and utility model patents. The core product is Venastent.^®The iliac vein stent system is the only domestically produced brand in China that has strictly followed RCT randomized controlled clinical trials and obtained product registration certification. With four major innovations—large crown design, segmented open-closed loop structure, three-row imaging positioning, and thin-walled stents—it effectively addresses clinical pain points in iliac vein treatment. The market share of domestically produced brands firmly ranks among the top tier, with sales volume increasing geometrically each year.

Figure: Venmedtech Vein Intervention Device Platform V-Family Overview - Building a One-Stop Treatment Solution

In terms of commercialization, Venmedtech has built an efficient sales network covering the whole of China: by 2025, the company has hundreds of agents, covering more than a thousand hospitals, and the efficiency of channel penetration continues to improve.

Against the backdrop of the normalization of centralized procurement in the industry, Venmedtech has become a core beneficiary of domestic substitution thanks to its three key advantages: comprehensive product line layout, high cost-effectiveness, and rapid hospital entry capabilities. The company's iliac vein stent successfully won the bid in Group A of the centralized procurement, with its quoted volume ranking first among domestically produced products, demonstrating a significant volume-for-price effect. At the same time, relying on its brand accumulation in the venous field, the company is rapidly extending into the arterial field. Both its above-the-knee and below-the-knee arterial occlusion products have been approved, achieving "venous + arterial" dual growth and building a commercially unparalleled and difficult-to-replicate map.

The company has built three major platforms: device R&D, innovative materials, and upstream-downstream supply chain. Under the innovative materials platform, breakthrough achievements such as oligosaccharides from brown algae and biodegradable embolic microspheres are ready to be launched. By subsidizing upstream through centralized procurement and collaborating with leading research institutions on innovation, the company significantly reduces production costs and establishes a self-controlled, cost-effective peripheral intervention technology ecosystem, laying a solid foundation for long-term development.

Wang Yonggang, Chairman of Venmedtech, stated:Thank you to Chuangjing Capital and all shareholders and investors for your long-term trust and support. This round of financing is an important milestone in the company's development. Venmedtech has always focused on clinical needs, with the mission of domestic substitution, deeply cultivating the field of venous intervention, and expanding into arterial and tumor embolization. In the future, we will continue to increase R&D investment, accelerate the approval and market promotion of innovative products, and improve the layout of the entire industry chain. With a more comprehensive product portfolio and higher-quality clinical services, we will protect patients' lives and health, contribute to the construction of Healthy China, and promote Chinese peripheral interventional devices to go global.

Chuangjing Capital stated:Peripheral vascular interventional devices are a high-growth golden track, with vast space for China-produced alternatives. Venmedtech, as the absolute leader in venous interventional devices, boasts three core competitive barriers: China's first iliac vein stent certification, a full product line layout, and mature commercialization channels, precisely aligning with the high-quality development trend of the healthcare industry. This round of financing will strengthen the company’s technological R&D, expand market coverage, and further consolidate its leading position. Chuangjing Capital continues to be optimistic about the peripheral intervention sector, and will fully leverage its industrial resource advantages to empower Venmedtech, supporting the company’s growth into a globally leading platform for peripheral interventional devices.

WinX Capital Senior Vice President Chenfei Lu stated:Congratulations to Venmedtech for successfully completing this round of financing. With the strong support from Chuangjing Capital, this marks a high level of recognition from the capital market for the company's core technical barriers, platform-based value, and commercialization potential. It also reflects firm confidence in the trend towards the domestic production of peripheral interventional devices in China. As the peripheral interventional industry experiences rapid growth and leading companies in the sector achieve fast performance results, we believe the industry’s turning point has arrived. As the exclusive financial advisor, WinX Capital holds great optimism for the development potential of the peripheral intervention industry. We hope to accompany Venmedtech over the long term in deepening R&D, accelerating product output, and expanding production capacity, driving the company to continue leading in the field of peripheral interventions.

Chuangjing Capital was established in November 2022. It has partnered with listed company Hotgen Bio (688068) and molecular diagnostics leader Bori Technology, among others, to jointly initiate the establishment of multiple funds. As a professional fund management company focused on healthcare and technology industries, its management team originates from top investment institutions and industry-leading enterprises such as Hillhouse Capital, China Pharmaceutical, and BGI. Leveraging high-quality industrial resources and extensive investment experience, Chuangjing Capital identifies outstanding entrepreneurs within the industry and provides multidimensional professional support. With an industrial perspective and global vision, it seeks out exceptional entrepreneurs, offering comprehensive industrial empowerment to help healthcare companies achieve high-quality development.

WinX Capital is a leading investment bank in China's large health industry, with headquarters in Beijing and Shanghai, and offices in Shenzhen, Suzhou, and Hangzhou. It has been awarded numerous honors including "Top 1 Best Financial Advisor in the Healthcare Field for 2024-2025" by Qimingpian, "Top 1 Financial Advisory Institution in the Healthcare Field for 2022-2025" by First Sounding, and "Top 100 Future Healthcare · Annual Healthcare Financial Advisor for 2022-2024" by VCBeat.