Tengfu Medical, China's First Developer of Pulmonary Artery Thrombectomy System, Completes Pre-A and Series A Funding Rounds to Break New Ground in Acute Pulmonary Embolism Intervention

Recently, Shenzhen TENDFO Medical Technology Co., Ltd. (“TENDFO”) has consecutively completed pre-Series A and Series A financing rounds, each amounting to hundreds of millions of yuan.Led by Boyuan Capital, with co-investment from Xianfeng Qiyun, Huachuang Capital, and Cowin CapitalThe successful completion of this funding round demonstrates the capital market’s recognition of TENDFO’s R&D capabilities in products such as its pulmonary artery thrombectomy system, as well as expectations for its future development. TENDFO stated that it will remain dedicated to continuously enhancing its product R&D capabilities and gaining a thorough understanding of clinical needs, striving to provide the best possible products for clinical practice. The company aims to fill the gap in China’s medical device sector for interventional treatments of pulmonary embolism and become a leader in products and solutions for pulmonary vascular and thrombotic diseases.

TENDFO was established in January 2020, and the company has comprehensively laid out its strategic presence.Pulmonary EmbolismandDeep Vein ThrombosisTwo Major Disease Areas. TENDFO’s independently developed pulmonary artery thrombectomy device has entered the registrational clinical trial phase. In addition to conducting clinical studies on its core product, the company has multiple other products undergoing registration testing and animal experiments, with clinical trials set to commence shortly. Leveraging the extensive experience of its core team in interventional device R&D, TENDFO is well-positioned to accelerate product development and market launch.

Currently, among vascular interventional products for the treatment of cardiovascular diseases, only coronary stents have achieved domestic substitution in China, while niche sectors such as interventional medical devices for treating pulmonary embolism remain untapped. At present, the primary treatment for acute pulmonary embolism is thrombolytic therapy, which involves a prolonged treatment duration and carries a high risk of bleeding complications at various sites. With the growing emphasis on and application of interventional therapy for pulmonary embolism, several new devices for treating acute pulmonary embolism have emerged in recent years. Among these, mechanical thrombectomy can rapidly remove blood clots and restore pulmonary blood flow, thereby saving lives. The clinical application of dedicated interventional devices for acute pulmonary embolism is still in its early stages both domestically and internationally. In overseas markets, some new devices have gradually become available; these are primarily devices originally designed for treating venous thromboembolism that have been redesigned, clinically re-evaluated, and iterated to suit the treatment of pulmonary embolism. Huang Dingguo, General Manager of TENDFO, stated, “Manufacturers abroad are rapidly advancing innovative devices and their clinical studies in this field, whereas there are no officially registered products in China yet. TENDFO is committed to developing innovative products that meet the needs of clinical experts, with the aim of providing Chinese physicians with interventional devices suitable for treating pulmonary embolism as soon as possible.”

As the population ages, the market size for interventional thrombectomy procedures will gradually expand, accompanied by increasing R&D investment. Specific devices targeting pulmonary embolism will become a key focus of research and development. As a market in its growth stage, there is a strong emphasis on product safety and efficacy, favoring technology-driven innovators such as TENDFO. It is reported that TENDFO’s pulmonary artery thrombectomy system has completed registration testing and animal studies, and clinical trials are currently underway at multiple hospitals across China.

TENDFO stated: We express our gratitude to the new shareholders—Boyuan Capital, Xianfeng Qiyun, Huachuang Capital, and Trinity Ventures—for their recognition, as well as to our existing shareholder, Hechuang Capital, for its continued support. Moving forward, TENDFO will actively advance the clinical research of its pulmonary artery thrombectomy system in hospitals, leveraging continuous technological innovation through medical-engineering collaboration to deliver superior products to clinicians and patients. In the future, TENDFO will remain responsive to clinical needs, continuously expand its product portfolio, venture into additional disease areas, and provide the clinical community with an ever-growing array of innovative medical devices.

Boyuan Capital stated: As the first company in the Chinese market to develop mechanical thrombectomy devices for acute pulmonary embolism, TENDFO advanced its product from concept to clinical stage in less than 18 months. With multiple innovative products currently in the R&D pipeline, the company has demonstrated the execution capability characteristic of a research-driven enterprise, as well as the courage to pioneer new products and technologies in an untapped market. Boyuan maintains a positive outlook on the company’s long-term prospects, anticipating that it will enter a new phase of development as a marketing leader in this emerging blue-ocean market.

Xianfeng Qiyun stated: It is a great honor to collaborate with TENDFO at an early stage. Pulmonary embolism and deep vein thrombosis are relatively common clinical conditions in China, yet there has been a lack of dedicated medical devices specifically designed for thrombectomy procedures for these indications. Both physicians and patients urgently require efficient and safe specialized devices. As one of the first companies in China to focus on the fields of pulmonary embolism and deep vein thrombosis, TENDFO is well-positioned to address this unmet clinical need, leveraging its profound understanding of vascular embolic diseases and interventional product design. Furthermore, the core members of the TENDFO team possess extensive experience in the development of interventional medical devices, with substantial practical expertise in product design, development, animal testing, and clinical trials. VCBeat is privileged to partner with such an outstanding industry-leading team as TENDFO to jointly advance product development. We hope that TENDFO’s products will soon become available in hospitals, thereby benefiting patients.

Huachuang Capital stated: Against the backdrop of the pandemic, with the widespread adoption of screening methods such as coagulation tests and D-dimer assays, and the healthcare sector’s continued emphasis on rehabilitation for long-term bedridden patients and cardiogenic diseases, we are optimistic that TENDFO’s pulmonary artery thrombectomy system can fill current clinical gaps. We also believe that TENDFO’s excellent team will continue to provide more solutions for pulmonary and venous diseases in clinical practice.

Tongchuang Weiye stated: TENDFO is a technology-leading innovative enterprise in the industry, specializing in thrombectomy. The company’s pulmonary artery thrombectomy system is the first of its kind in China, providing a new solution for the treatment of acute pulmonary embolism. It significantly improves procedural efficiency and holds substantial clinical value. The TENDFO team possesses extensive experience in the cardiovascular interventional device sector, with rapid R&D and clinical progress across its product portfolio. We are highly confident that the company will grow into a leading domestic player in thrombectomy devices and a unicorn in the interventional device market.

BioTrack Capital, established in 2017, is a specialized investment firm focused on China’s healthcare industry. The firm invests in innovative biotechnology, advanced medical technologies, and novel healthcare business models in China, leveraging strong capabilities in deal sourcing and value creation.

The founders and team of Boyuan Capital come from startups, biotechnology companies, multinational corporations, or professional investment institutions in the healthcare industry. They possess extensive experience in entrepreneurship, R&D, operations, and investment within the healthcare sector, along with deep industrial resources and rich industry expertise.

Founded in 2016, Xianfeng Qiyun is dedicated to discovering innovative therapies and next-generation medical technologies to address significant unmet medical needs. The firm aims to become a premier early-stage investor for the world’s leading entrepreneurs and scientists.

Huachuang Capital, established in 2006, focuses on early-stage investments in enterprise software, frontier technologies, life sciences, and consumption upgrading. Leveraging its extensive resources and experience, Huachuang Capital assists portfolio companies with strategic planning, business expansion, and team building. Currently, the firm manages RMB and USD funds totaling RMB 8 billion, with investments ranging from angel rounds to Series C, and investment amounts spanning from several million to hundreds of millions of RMB. Representative portfolio companies include: SMZDM (ChiNext: 300785), Missfresh (NASDAQ: MF), Wish (NASDAQ: WISH), Tongdun Technology, Tiger Brokers (NASDAQ: TIGR), Ezbuy (NASDAQ: LITB), Bieyanghong (acquired by Meituan, HKEX: 03690), Caiyun Technology (acquired by ByteDance), Xiaoman Technology (acquired by Alibaba, NYSE: BABA), PingCAP, Deephi Technology (acquired by Xilinx, NASDAQ: XLNX), Airlango (acquired by Meituan, HKEX: 03690), Nreal, ABIS Intelligence, LandSpace, Huake Jingzhun, Singleron, Fubei Biotechnology, Biocytogen Pharmaceuticals, and Innovent Biologics.

Cowin Capital, established on June 26, 2000, is one of China’s first professional private equity investment firms. With nearly two decades of investment management experience, the firm manages over RMB 25 billion, has invested in more than 500 companies, and helped nearly 100 portfolio companies go public. It is a leading domestic professional investment institution with a long operational history and consistently outstanding returns.