Zhongtian Medical Secures Over RMB 100 Million in Series B Funding to Accelerate Vascular Intervention Product Launch

VCBeat has learned that Suzhou Zenith Vascular Co., Ltd. (hereinafter referred to as “Zenith Vascular”) recently completedBRMB 100 Million+ Financing Round Co-led by Boxing Capital and Qianrong Capital, with Ruiling Capital Serving as Financial Advisor; Funds to Be Primarily Used for Innovative Product R&D and Market Brand Building

Previously, Zenith Vascular had received investments from well-known funds such as Juming Venture Capital, Yuanhe Origin, and Northern Light Venture Capital.

Zenith Vascular, established in 2018, is a company dedicated to innovation in vascular interventional medical devices. According to reports, Zenith Vascular has independently developed a series of products for the treatment of cerebrovascular diseases, including thrombectomy stents, aspiration catheters, distal access catheters, negative pressure aspiration pumps, microwires, and microcatheters. Additionally, several other independently innovated vascular implantable and interventional products are currently under development. In 2020, the company’s distal access catheters and negative pressure aspiration pumps successively received approval from the National Medical Products Administration (NMPA) for market launch and commercial sales.

Zenith Vascular stated, “Leveraging the safety, efficacy, and innovation of our products, along with our robust distribution capabilities, we are able to reach hundreds of hospitals across China, providing safe and effective therapeutic devices for numerous patients with cerebrovascular diseases.”

Zenith Vascular and Beijing Ande Yizhi (BioMind) Have Reached a Strategic Partnership in the Treatment of Patients with Acute Ischemic Stroke: Zenith Vascular’s product portfolio for acute ischemic stroke (including intracranial thrombus aspiration catheters, intracranial stent retrievers, distal access catheters, and negative pressure suction pumps) is integrated with BioMind’s AI-assisted decision-support solutions for stroke, providing physicians with more comprehensive diagnostic and therapeutic options. This enables rapid and accurate assessment of patients with acute ischemic stroke, thereby improving treatment efficiency.

Zenith Vascular’s product rollout has been remarkably rapid, with its product portfolio and strategic partnerships all aligned to better fulfill its mission of “making the treatment of vascular diseases simpler.”

The "Report on Cardiovascular Health and Diseases in China 2019," released by the National Center for Cardiovascular Diseases, indicates that with the deepening aging of China's population, the number of new cases of acute ischemic stroke is steadily increasing. The incidence of acute ischemic stroke in China rose from 2.8 million cases in 2015 to 3.4 million cases in 2019, and is projected to reach 5.8 million cases by 2030. On the other hand, mortality from cardiovascular and cerebrovascular diseases remains the leading cause of death, accounting for 45.91% and 43.56% of all deaths in rural and urban areas, respectively, which is higher than that of cancer and other diseases.

The vast patient population has an urgent need for safe, effective, and minimally invasive neurointerventional therapies; however, the penetration rate of neurointerventions in China remains low.

According to public data, there are 800,000 new cases of cerebrovascular disease annually in the United States, with over 40,000 thrombectomy procedures performed each year. In contrast, China sees more than 2 million new cases of cerebrovascular disease annually, yet performs only 40,000 thrombectomy procedures. Comparing the incidence of new cases and the volume of thrombectomy procedures between China and the United States, it is evident that China needs to significantly increase the number of thrombectomy procedures to ensure patient survival and recovery rates.

Fortunately, as the stroke-affected population expands and given the high mortality and disability rates associated with stroke, China is placing increasing emphasis on this condition. The “Healthy China 2030” Planning Outline has elevated stroke prevention and control to a national strategy and promoted the establishment of stroke centers. Currently, the number of stroke centers is growing at an annual rate of 37%, and this rapid growth is expected to continue over the next decade.

With the accelerated development of stroke centers and increased patient awareness, neurointerventional procedures are poised for rapid adoption. According to data released by the renowned research firm Frost & Sullivan, the number of ischemic stroke treatment procedures in China increased from 13,500 in 2015 to 45,800 in 2019, and is projected to reach 881,300 by 2030, representing a compound annual growth rate (CAGR) of 30.8% from 2019 to 2030.

Behind the rapid market growth lies a significant development opportunity for neurointerventional device companies. Zenith Vascular has garnered strong favor from investors, with its innovative products and rapid product advancement capabilities being key contributing factors. Since its establishment, Zenith Vascular has filed more than 30 domestic patents in China, five of which have been granted, while several international patent applications are currently pending.

Zenith Vascular stated, “In addition to our certified products, our intracranial thrombus aspiration catheters and thrombectomy stents are scheduled to complete clinical trials by the end of 2021, with several other products currently in the registration and certification phase. In terms of product performance, Suzhou Zenith Vascular’s products have demonstrated excellent safety and efficacy in clinical practice, indicating that the company’s independently developed products are comparable to similar high-end imported brands.”

Taking the thrombectomy stent as an example, this product is an innovative device with independent intellectual property rights, independently developed by Zenith Vascular based on its “Me Better” technological philosophy. Through innovative structural design, the stent enables adaptive rotation during retraction, significantly improving clot capture efficiency and reducing thrombus embolization, while simultaneously minimizing vascular irritation and injury, thereby lowering the risk of hemorrhage. Currently in the clinical trial phase, data from nearly 100 completed cases demonstrate that this independently innovated thrombectomy stent possesses the capability to challenge imported high-end competing products in terms of both efficacy and safety.

Furthermore, Zenith Vascular is vigorously advancing the research and development of innovative products, including intracranial stents, carotid artery stents, drug-eluting stents, and drug-coated balloon dilation catheters, as well as a range of peripheral vascular implantable and interventional devices, to provide safe, effective, and innovative clinical solutions for endovascular therapy. Notably, the carotid artery stent is a project co-developed with a renowned university-affiliated hospital in China. Through its innovative design, this product effectively reduces the incidence of perioperative and postoperative stroke and lowers the rate of post-procedural restenosis.

Xia Jie, Founder and Chairman of Zenith Vascular, stated, “Since its inception, Zenith Vascular has been committed to the mission of ‘making vascular disease treatment simpler through innovative technology.’ Guided by the principles of innovation, efficiency, and determination, the company has completed the development and registration of multiple products within its first three years, beginning to serve a broad base of patients across China. Looking ahead, the Zenith team will uphold a more pragmatic and focused spirit to develop more innovative and high-quality products, leading the domestic production of high-end devices for vascular interventional therapy.”

Cong Bo, Vice President of Boxing Capital, stated: “Interventional therapy for stroke is a key area of focus for us. Given the large patient population and high mortality rate associated with acute ischemic stroke, interventional therapy has become the preferred treatment in clinical guidelines. The market prospects are broad; currently, the domestic market is monopolized by imported products, with a significant trend toward import substitution. Zenith Vascular’s products possess independent intellectual property rights and demonstrate a high degree of innovation, receiving positive feedback from clinical experts. The team possesses an international perspective and strong execution capabilities. Since the company’s inception, it has been committed to conducting clinical research on aspiration catheters and thrombectomy stents, positioning its product registration progress at the forefront in China. We believe that the company will continue to align with international R&D trends and domestic market demands, delivering superior products to patients across China.”

Ms. Ye Xiaoming, Chairwoman of Qianrong Group, stated: “The founder of Zenith Vascular possesses a clinical background and management experience from overseas hospitals and enterprises. Its R&D team comprises senior engineers in the field of interventional medicine and leading Chinese and American experts in neurointervention. Prioritizing innovation, they are committed to addressing a series of unmet clinical needs. Zenith Vascular promotes high-quality domestically produced products to primary care hospitals, driving market penetration into lower-tier regions. This strategy aligns with the need for stroke patients to receive timely treatment at nearby facilities, thereby benefiting a larger patient population. Furthermore, we are optimistic about Zenith Vascular’s independent manufacturing capabilities, which not only ensure controllable product quality but also enable rapid product iteration, allowing the company to remain resilient against the pressures of centralized volume-based procurement in the future.”

Boxing Capital is a professional investment firm specializing in early-stage healthcare investments, founded by partners with extensive experience in healthcare investing. The firm currently manages funds totaling nearly RMB 2 billion, with key investments in over 30 innovative medical device and healthcare service projects that hold significant market potential. Many of these portfolio companies have grown to become leaders in their respective niche sectors, and the firm has successfully realized profitable exits from multiple investments. Boxing Capital’s limited partners include top-tier domestic fund-of-funds, healthcare industry entrepreneurs, and seasoned investors. Leveraging in-depth industry research, clear investment logic, and comprehensive post-investment management capabilities, Boxing Capital has earned the long-term respect of entrepreneurs and secured ongoing support from its investors, firmly establishing itself as a long-term partner to leading healthcare entrepreneurs and investors in China.

Jiangsu Qianrong Group is a comprehensive investment holding group integrating venture capital, equity investment, debt investment, industrial investment, asset management, and financial leasing. It manages eleven venture capital and private equity funds, has invested in more than thirty technology enterprises and four financial institutions, covering high-tech sectors such as biopharmaceuticals, innovative medical devices, and intelligent manufacturing. Among its portfolio companies, twelve have been listed on the Shanghai and Shenzhen Stock Exchanges and the Hong Kong Stock Exchange.