Melei Weiyeh Completes Hundreds of Millions RMB Series C Financing, Pioneering Minimally Invasive Therapies for Chronic Diseases

Recently, Shanghai Meili Weiye Medical Technology Co., Ltd. (hereinafter referred to as“BRATTEA” (“the Company”) announced the completion of its Series C financing round, amounting to hundreds of millions of yuan. This round of financing was led byJianxing Medical Fund,Fosun HealthCo-led by [Lead Investor], with participation from New Investment and Yi Yao Investment, existing shareholder Hengxu Capital continued to increase its stake, with Dianshi Capital serving as the financial advisor for this round of financing. The funds raised in this round will be used for percutaneous renal artery denervation radiofrequency ablation (hereinafter referred to as:commercial promotion of the “RDN” product following future regulatory approval, as well as further research and development, clinical trials, regulatory submissions, and market expansion for the world’s first transvascular sympathetic denervation radiofrequency ablation therapy for type II diabetes (hereinafter referred to as “EDN”) and other core products.

BRATTEA has completed the enrollment of all patients and data review for the clinical trials of its renal denervation (RDN) product this year, and is preparing to submit a product registration application to the National Medical Products Administration (NMPA). Leading experts in the field, including Professor Huo Yong from Peking University First Hospital, Professor Zhou Yujie from Beijing Anzhen Hospital, and Professor Sun Ningling from Peking University People’s Hospital, have stated that RDN addresses the long-standing challenge posed by hypertension that is difficult to control effectively and is associated with multiple severe complications, holding significant clinical importance. As a novel interventional approach for hypertension management, RDN-based technologies have become one of the three pillars of hypertension treatment, alongside lifestyle interventions and pharmacological therapy.

BRATTEA, established in 2013, is committed to becoming an international leader in active interventional medical devices based on energy platforms. In the field of hypertension treatment, its independently developed Renal Denervation (RDN) ablation system received Special Examination and Approval for Innovative Medical Devices from China’s National Medical Products Administration in December 2019, obtained CE certification in 2020, and subsequently became the only device in China to be granted “Breakthrough Device” designation by the U.S. FDA in 2021, positioning it to potentially become the first approved minimally invasive therapeutic device for hypertension in China. In the field of diabetes treatment, the company has collaborated closely with renowned domestic experts, universities, and hospitals to pioneer the Endoscopic Duodenal Mucosal Resurfacing (EDN) therapeutic regimen, validating its efficacy and safety in small-sample clinical trials. Looking ahead, leveraging BRATTEA’s multi-energy platform solutions—including radiofrequency, pulsed electric fields, and ultrasound—the company aims to provide minimally invasive surgical interventions that offer immediate efficacy and long-term benefits for chronic diseases, thereby benefiting a broad patient population.

Hypertension is the single largest risk factor for mortality in humans. For every 10 mmHg increase in systolic blood pressure, the risk of stroke and fatal myocardial infarction increases by 53% and 31%, respectively, among Asian populations. Globally, over 1 billion people suffer from hypertension, including 245 million patients in China. Pharmacological therapy remains the primary treatment modality; however, the overall control rate is low, at only 23%. As a non-pharmacological intervention for hypertension, renal denervation (RDN) has garnered significant attention since its emergence. With the conduct of various clinical trials, R&D efforts have deepened, and ablation devices and techniques have been continuously innovated and improved, thereby validating the antihypertensive efficacy of RDN. In 2021, both the European Society of Hypertension and the Society for Cardiovascular Angiography and Interventions published expert consensus statements, affirming the effectiveness of RDN and defining the appropriate patient populations.

BRATTEA's Netrod^®The Netrod six-electrode basket RDN ablation system is the only radiofrequency ablation solution globally, apart from Medtronic’s, to have received FDA Breakthrough Device designation. (Currently, Medtronic has submitted a marketing approval application to the FDA for its Symplicity Spyral product, making RDN once again the hottest track in the field of chronic diseases.) This designation stems from the company’s independent innovation capabilities in RDN products and the anticipated patient benefit value demonstrated in pre-market clinical trials. Netrod^®The system features a proprietary basket-like structure that provides excellent conformability and superior vessel wall apposition; its six electrodes are arranged in a 360-degree spiral pattern for comprehensive coverage, enabling highly efficient ablation. Therefore, Netrod^®"The system requires shorter surgical time compared to similar products, offers superior comparability in outcomes, and has been highly recognized by clinical centers."

Deep insights into clinical needs and independent innovation are the keys to BRATTEA’s sustained leadership. China’s 140 million diabetes patients often struggle with poor adherence due to the inconveniences and psychological barriers associated with long-term insulin injections, resulting in a control rate of only 49.4%. The company has pioneered the world’s first Endovascular Denervation (EDN) therapy for type 2 diabetes, which addresses sympathetic nervous system overactivation through interventional treatment, thereby alleviating insulin resistance. Preliminary clinical study conclusions indicate that EDN produces significant glucose-lowering effects with a favorable safety profile, along with marked improvements in liver function indicators (ALT, γ-GT).

BRATTEA boasts an experienced team of R&D and clinical executives. Mr. Cao Hongguang, Founder and Chairman, is a successful serial entrepreneur in China’s medical device sector. He previously served as Deputy Director of the Neurosurgery Department and Director of the Neurosurgery Research Institute at a Grade 3A hospital, gaining profound insights into clinical diagnosis and treatment as well as energy-based surgical technologies. He has founded several industry-leading companies, including Shanghai Yirui Electronics Technology Co., Ltd. (listed on the STAR Market in 2020, stock code: “688301”) and Beijing Weimai Medical Equipment Co., Ltd. The company’s core executive team members hail from renowned multinational and domestic medical device enterprises, bringing extensive expertise and rich management experience in product development, clinical affairs management, and market expansion.

Regarding this financing round, Cao Hongguang, Founder and Chairman of BRATTEA, stated that with Medtronic’s Symplicity Spyral product having submitted its marketing approval application to the FDA, domestically produced renal denervation (RDN) systems have also entered the final stretch toward market launch. “We hope that BRATTEA, leveraging its continuous innovation capabilities, will maintain its leadership in the field of chronic diseases such as hypertension and diabetes, thereby benefiting a broad population of patients in China.”

The project leader of Jianxing Medical Fund stated: "There is a substantial and genuine unmet clinical need in the field of metabolic diseases, such as hypertension and diabetes, which cannot be adequately addressed by medication alone, creating an urgent demand for novel therapeutic approaches. The core team at BRATTEA boasts solid technical expertise, strong execution capabilities, and outstanding innovation. The unique basket-shaped six-electrode structure and intelligent feedback control of its Renal Denervation (RDN) product are expected to enhance treatment success rates while reducing the learning curve for operators. This positions the product for rapid regulatory approval, thereby filling a market gap. We are also pleased to see that the company’s three active energy platforms—radiofrequency, pulsed electric field, and ultrasound ablation—are incubating new breakthroughs. We look forward to collaborating with BRATTEA to accelerate the development and commercialization of more groundbreaking innovative devices, thereby addressing more complex therapeutic challenges."

Mr. Chen Yuqing, Co-CEO of Fosun Pharma and Chairman of Fosun Health, stated that cardiovascular diseases are currently the leading cause of death among the Chinese population, with hypertension affecting the largest number of patients among those who develop or die from these conditions. In light of the current "three lows" in China—low awareness, low treatment rates, and low control rates for hypertension—there is an urgent need to introduce innovative solutions. Novel interventional device therapies, represented by Renal Denervation (RDN), offer the advantage of long-term benefits from a single procedure compared to pharmacological treatments, holding promise as a new approach to hypertension management in the future. Under the leadership of Mr. Cao Hongguang, BRATTEA has developed an innovative six-electrode basket-shaped ablation catheter, featuring advantages such as a continuous energy field, active and sufficient wall apposition, and intelligent ablation capabilities. The company has become the only domestic enterprise in the RDN field to receive Breakthrough Device Designation from the U.S. FDA. Fosun Health is honored to have co-led this round of financing. We look forward to the company leading the disruptive trend of minimally invasive surgical treatments for chronic diseases, continuously enriching its portfolio of active energy platform products, and becoming a global leader in active interventional medical devices. In the future, Fosun Health will collaborate closely with BRATTEA to deepen industrial cooperation and provide patients with more professional, comprehensive, and robust health management services for hypertension as a chronic condition.

Ms. Li Yange, Partner at The New Investment Fund Management (Beijing) Co., Ltd. and Managing Director of its Healthcare Division, stated: “In the field of renal denervation (RDN) for hypertension treatment, over a decade of R&D and clinical trial exploration has been conducted internationally, accumulating substantial validation data on its mechanism of action, safety, and efficacy. In the future, RDN is poised to become a standard first-line therapy for resistant hypertension, representing a vast market opportunity. Starting from ‘first principles’ and based on in-depth research into renal artery anatomy, BRATTEA has identified the key factors critical to successful RDN ablation and innovatively developed a six-electrode basket-style ablation catheter. This device creates a continuous ablation energy field while maintaining stable electrode-wall contact, delivering excellent ablation outcomes. The company has also become the only enterprise in China’s RDN sector to receive the U.S. FDA’s ‘Breakthrough Device’ designation. We are honored to participate as a follow-on investor in this financing round. We look forward to the company continuing to uphold its ‘craftsmanship spirit,’ developing products that better meet clinical needs, and emerging as a global leader in the field of active interventional medical devices.”

Lu Yongtao, Chairman of Hengxu Capital, stated: “China has hundreds of millions of patients with chronic diseases, and how to effectively control these conditions remains a lifelong challenge for patients. Interventional procedures such as Renal Denervation (RDN) represent a disruptive therapeutic solution, offering durable control with a single procedure and delivering sustained health benefits. BRATTEA is a first-tier RDN enterprise in China and a leader in interventional therapy for chronic diseases. As an existing shareholder, we are delighted by the company’s leapfrog development and deeply appreciate the team’s unwavering perseverance. We look forward to continuing to support the company’s growth and contributing to the advancement of China’s medical device industry.”

Beijing Jianxing Medical Health Industry Equity Investment Partnership (Limited Partnership) (hereinafter referred to as the “Jianxing Medical Fund”) was jointly established by the Beijing Municipal Bureau of Economy and Information Technology and the Daxing District People’s Government, with capital contributions from entities including the Beijing High-Precision Advanced Industry Development Fund, the Daxing Development Guidance Fund, and the New Airport City Fund. The Fund focuses on high-quality growth-stage projects in fields such as innovative drugs, high-end medical devices, and smart healthcare. Leveraging the robust biomedical industry foundation of Beijing and Daxing District, the professional financial service capabilities of its management team, and extensive fund management experience, the Fund aims to facilitate the commercialization of biomedical technological achievements and promote the optimization and upgrading of industrial structure.

Shanghai Fosun Health Technology (Group) Co., Ltd. (“Fosun Health”), a holding subsidiary of Shanghai Fosun Pharmaceutical (Group) Co., Ltd. (stock codes: 600196.SH, 02196.HK), creates integrated health management services by combining offline medical institutions with online diagnosis and treatment platforms, covering the entire user life cycle. As of June 30, 2022, its controlled hospitals had a total of 5,732 approved beds, and it had obtained licenses for eight internet hospitals. Its affiliated Foshan Fosun Chancheng Hospital ranked first nationwide in the “Single Private Hospital” competitiveness list by Ai Li Bi for four consecutive years from 2018 to 2021. Fosun Health continues to explore the Chinese path of proactive health management (FHMO) to fulfill its mission of “making families healthier and lives better.”

New Investment upholds the investment philosophy of “green, healthy, innovative, and value-driven,” primarily investing in core industrial sectors such as new energy, green ecology, biopharmaceuticals, and innovative medical devices. Leveraging its rich and diversified industrial resources, the company has built robust capabilities and strategies in integrated industry-finance investment. It focuses on growth-oriented investments in cutting-edge innovative technologies within core industries, empowering and supporting “hidden champions” in niche segments. Additionally, it pursues M&A and consolidation value investments centered on opportunities for upgrading and restructuring core industries, helping strategic partners become “value leaders” in their respective fields. By introducing core industries and forming capital alliances with local governments to establish industrial funds, New Investment constructs regional core industrial ecosystems and development platforms, thereby facilitating industrial transformation, upgrading, and high-quality regional development.

Hengxu Capital is the private equity investment platform under SAIC Motor Corporation Limited (600104.SH). Leveraging the overall strengths of SAIC Motor, the company aims to maximize returns for investors by strategically investing in emerging industries such as advanced manufacturing, healthcare, frontier technologies, and mass consumption, thereby contributing to the development of SAIC Motor’s innovative industrial chain and the enhancement of its mobility ecosystem. Hengxu Capital’s healthcare portfolio includes numerous outstanding enterprises such as Aier Medical, Anzhiyin Biotechnology, Changfeng Pharmaceutical, Demei Medical, Diker Medical, Gaocheng Biotechnology, BRATTEA, Ribobio, Yahong Medicine, Weizhizhuo Biotechnology, and UTC.