WeMed Secures Over RMB 300 Million in Series D Funding to Advance Integrated Interventional Therapy Solutions

VCBeat (WeChat: vcbeat) has learned that WeMed recently completed a Series D financing round exceeding RMB 300 million. The round was led by Lake Bleu Capital, with participation from Suzhou Longmen Venture Capital, Longma Peak Venture Capital, and existing shareholder Luxin Venture Capital. Haoyue Capital served as the exclusive financial advisor. The proceeds will be used for brand promotion, domestic and international marketing of the company’s certified C-series products across various sizes, accelerating the clinical progress of its interventional surgical robots, and enhancing its comprehensive layout for interventional therapy process management.

WeMed, established in 2014, is a national high-tech enterprise dedicated to the full-process management of interventional imaging. It provides an integrated “eye-hand-brain” solution for the entire interventional workflow. The company has built multiple interventional product lines, including large-scale Digital Subtraction Angiography (DSA) systems, mobile angiography units (mid-C-arm), surgical C-arms (small C-arm), and interventional surgical robots, achieving technological synergy among them. Through overseas mergers and acquisitions and other strategies, WeMed has implemented an international strategic layout encompassing product R&D, manufacturing, and marketing. In response to the national “14th Five-Year Plan” for the development of high-end medical equipment, the company has achieved a “Me Better” standard in terms of R&D, performance, and conceptual innovation.

At the 5th Vascular Innovation Forum, WeMed’s self-developed interventional surgical robot made its debut and attracted significant attention. As a key component of the company’s integrated “eye-hand-brain” strategy, the system achieves intelligent integration with WeMed’s DSA (Digital Subtraction Angiography) equipment and has completed animal trials. Featuring an all-in-one operating platform, force feedback, bionic design, rapid adaptability, and procedural compatibility, the robot enables interventional procedures without requiring entry into the catheterization laboratory. Compared with traditional surgery, the surgical robot offers greater flexibility and higher precision, alleviates physician fatigue, significantly reduces intraoperative radiation exposure, extends professionals’ career longevity, provides a technological foundation for remote surgery, and helps create eco-friendly operating rooms.

As of 2018, there were 903 hospitals in China performing 100–499 PCI procedures annually, and more than 2,000 hospitals had the capability to perform PCI. Surgical robots will help enhance surgical capabilities at primary-care hospitals. The vigorous promotion of a tiered diagnosis and treatment system and the construction of the “five major centers,” including chest pain centers and stroke centers, coupled with increased state investment in infrastructure and diagnostic and therapeutic equipment at hospitals across all regions and levels in the post-pandemic era, have created greater market expansion opportunities for robotic systems and DSA equipment.

WeMed’s new high-end intelligent flat-panel DSA system, Aurora, obtained dual NMPA and CE certifications in 2020. As the first domestically produced high-end DSA system in China to hold both certifications, it has taken its initial step toward internationalization and gained prominence both domestically and abroad. The product has become a leading domestic high-end DSA system, leveraging proprietary algorithms and artificial intelligence technologies to provide clinicians with a more flexible, intelligently interactive, lower-radiation option that delivers superior image quality. The system has been widely adopted and highly acclaimed by numerous renowned hospitals, and has stood out in tender processes across multiple provinces.

In addition to robotics and the Aurora DSA, the company’s high-end mid-C-arm systems have received widespread clinical acclaim. This product is manufactured by EC, one of the world’s top five mid-C-arm brands acquired by WeMed in 2016. Featuring leading technologies such as variable SID (Source-to-Image Distance), image fusion, and optimization, it provides high-end interventional equipment for departments including oncology, gynecology, urology, and peripheral vascular interventions, playing a significant role in popularizing interventional procedures. The product has obtained dual CE and NMPA certifications and is exported to more than 20 countries worldwide, aligning with WeMed’s international dual-center strategic layout and working synergistically with the Aurora DSA to pave the way for globalization.

Mr. Yang He, Co-founder and CEO of WeMedWeMed, as a leading representative of high-quality domestically produced medical equipment in China, has long adhered to the philosophy of safeguarding life through technological innovation, with deep expertise cultivated over many years in the field of minimally invasive interventional therapy. The company has now achieved comprehensive coverage of its full portfolio of intraoperative imaging guidance products for minimally invasive surgeries. We are deeply honored by the Series D financing round led by Lake Bleu Capital, with participation from Suzhou Longmen Venture Capital, Langmafeng Venture Capital, and Luxin Venture Capital. This investment brings both prestige and significant responsibility. We will accelerate the commercialization of innovative products, exemplified by our interventional surgical robots, to provide end-to-end solutions for interventional procedures. Meanwhile, as the global pandemic situation gradually improves, the company plans to further leverage the synergistic advantages of its dual-center operations in China and Italy. By embracing new thinking and exploring novel business models, we aim to deliver the most advanced total vascular interventional solutions to more physicians, thereby creating greater social value. We are confident and fully capable of driving WeMed’s evolution from domestic substitution to innovation leadership.

Dr. Li Bin, Founder of Lake Bleu CapitalIt was stated that, against the backdrop of multinational corporations monopolizing over 70% of China’s high-end medical device market, “domestic substitution” has been the central theme of industrial policy and investment in the medical device industry in recent years. WeMed has taken the first step in import substitution in the DSA market, which has long been dominated by the “GPS” trio, and has obtained NMPA certifications for various C-arm products. Meanwhile, WeMed has emerged as one of the leading enterprises in the field of robotic vascular intervention, facilitating more accurate, rapid, and effective minimally invasive surgeries. In the future, leveraging its rich product portfolio in imaging, digitalization, and artificial intelligence, the company can provide optimized solutions for clinical vascular interventions and unlock significant synergies.

Mr. Shen Hongquan, Founder of Suzhou Longmen Venture CapitalHe stated that WeMed is a project that Suzhou Longmen Venture Capital Fund has been researching and tracking in the medical device sector for a long time, and expressed pleasure at the opportunity to invest alongside Lake Bleu Capital and other outstanding funds. The company has achieved breakthroughs in domestically produced DSA technology, truly realizing high-quality domestic substitution, and is the only company in China with a full product line for interventional procedures. The company’s interventional robot is about to enter clinical trials, keeping pace with foreign competitors. Given the high compatibility between DSA and interventional robots, only enterprises with a profound understanding of DSA application scenarios can produce interventional robots with higher matching degrees, an area where WeMed is also leading. He also looks forward to WeMed’s continued success.

Mr. Xiao Jiancong, Founder of Longma Peak Venture CapitalIt is a great honor to participate in this round of financing for WeMed. We highly recognize the core executive team, which has been deeply engaged in the field of interventional imaging for over a decade, possessing strong R&D capabilities and innovation capacity. The performance of its flagship product, the Aurora large C-arm, rivals that of leading international brands. The company’s strategic focus on interventional surgical robots has achieved breakthroughs in key innovative technologies, demonstrating superior advantages in bionic design and propulsion precision, which is promising. We hope that through this cooperation, we can support WeMed in continuing to deepen its presence in the interventional imaging sector, accelerating product commercialization and subsequent product development, thereby maintaining its industry-leading position.

Mr. Du Lin, Investment Director of Luxin Venture CapitalIt stated that as the lead investor in WeMed’s Series C financing round, Luxin Venture Capital is pleased to continue its participation in WeMed’s Series D investment. Supported by national policies, the interventional medical device market boasts broad prospects. As a domestic manufacturer offering both a full range of angiography systems and interventional surgical robots, WeMed is capable of providing comprehensive solutions for minimally invasive interventional procedures to physicians and patients, positioning it to become a leading enterprise in this field in China. We look forward to WeMed’s continued growth and greater contributions to China’s interventional medical sector!

Mr. Yang Zhenjun, Partner at Haoyue CapitalWe are honored to partner with the WeMed team for the third time within two years to complete the Series D financing, while also witnessing WeMed’s rapid development. This growth is attributable to the team’s outstanding qualities of pursuing continuous innovation and maintaining high efficiency and pragmatism, which have infused the company with sustained vitality and innovative capacity. As a leading enterprise in full-process management of interventional procedures, WeMed’s DSA products have gained high clinical recognition since their market launch. Furthermore, the company has secured CE certification ahead of its industry peers, facilitating its overseas layout and accelerating its internationalization strategy. We remain bullish on WeMed’s future; its coordinated “eye-hand-brain” development strategy will, with the support of capital, expand the boundaries of intelligent interventional diagnosis and treatment.

Headquartered in Hong Kong, China and Shanghai, Lake Bleu Capital is an investment platform focused on the healthcare sector, with assets under management totaling billions of US dollars. Its secondary market USD fund is one of the largest healthcare-focused secondary market funds in Asia. Owing to its outstanding investment performance, the fund has been repeatedly recognized by authoritative institutions as the best secondary market fund in Asia, and in 2020, it won the sole award for “Best Secondary Market Fund (Over $500 Million Category) – Past 5 Years” presented by AsiaHedge. Lake Bleu Capital is also active in the mid-to-late stages of private equity investment in China’s healthcare industry, having successfully invested in more than 40 high-growth companies. The firm provides diverse value-added services, supporting its portfolio companies in capital operations and business collaborations.

Suzhou Longmen Venture Capital is an emerging investment fund focused on “innovative drugs and innovative medical devices,” with the vision of “helping Chinese pharmaceutical innovation enterprises go global and give back to society.” The core team members possess over 25 years of industry experience and have led investments totaling tens of billions of yuan. Suzhou Longmen Venture Capital has invested in multiple high-quality companies, including Borui Medicine (688166), Changfeng Pharmaceutical, Jingjie Biology, Haichuang Pharmaceuticals, Xiantong Pharmaceutical, Lijin Biology, and Bonokangyuan.

Longma Peak Venture Capital was established in September 2007, with assets under management exceeding RMB 8 billion. In 2019, it was recognized as one of the “Top 10 Investment Institutions in Advanced Manufacturing” by Lieyunwang and Touzijia.com. In 2020, it was listed among the “Top 50 Best Venture Capital Firms in China for 2019” by China Venture (CVSource). Longma Peak Venture Capital has cumulatively invested in more than 160 companies, focusing on high-tech sectors such as biopharmaceuticals and medical devices, next-generation information technology, high-end equipment, and new materials.

Luxin Venture Capital Group Co., Ltd. (600783.SH), controlled by Shandong Luxin Investment Holding Group Co., Ltd., is the largest professional venture capital firm in Shandong Province and one of the most influential in China. Its notable portfolio companies in the healthcare sector include 3D Medicines, RemeGen, Abclonal, Zhongke New Life, Silicon-based Bionics, Boying Medical, Ruibiotech, WeMed, Shiling Technology, Dajian Bio, and TCR2 Therapeutics.