Xincheng Capital Becomes Sole Largest Shareholder of MedAlliance SA with Strategic Investment to Advance SELUTION SLR™ Global Commercialization

On March 17, Sinovation Capital announced that it had completed its investment in MedAlliance SA, a global leader in medical technology based in Switzerland, becoming the company’s single largest shareholder. The investment will be used to support the commercialization and market launch of MedAlliance’s core product, the Selution™ Sirolimus-Eluting Balloon (hereinafter referred to as “SELUTION SLR™”).

MedAlliance, headquartered in Nyon, Switzerland, is primarily engaged in the research, development, and manufacturing of high-end interventional medical devices for cardiovascular and peripheral applications. Leveraging globally proprietary technology, the company has developed its flagship product, SELUTION SLR™, which holds a leading competitive advantage. The product has secured independent intellectual property rights worldwide and is indicated for the treatment of cardiovascular conditions such as coronary artery disease and peripheral artery disease, demonstrating substantial market potential. With outstanding clinical trial results, SELUTION SLR™ became the first drug-coated balloon product to receive the U.S. Food and Drug Administration’s (FDA) “Breakthrough Device” designation in the field of coronary artery disease. It recently obtained its fourth FDA “Breakthrough Device” designation and is currently proceeding with FDA registration and approval. Furthermore, the product has received CE marking from the European Union for multiple clinical indications and has been launched in Europe and all other countries that recognize the CE mark.

Cardiovascular disease is currently the leading cause of death worldwide. The report “Global Burden of Cardiovascular Diseases and Risk Factors, 1990–2019,” published in the Journal of the American College of Cardiology, indicates that the number of patients with cardiovascular disease reached 523 million globally in 2019. According to the “Report on Cardiovascular Health and Diseases in China,” released by the National Center for Cardiovascular Diseases of China in September 2020, the prevalence of cardiovascular diseases in China continues to rise. In the future, medical care standards and the development of new technologies for cardiovascular diseases must continue to improve. Given the continuous expansion of the Chinese market, MedAlliance will actively enter the Chinese market, and its core products are currently undergoing clinical trials in China.

Jeffrey B. JUMP, Chairman and Chief Executive Officer of MedAlliance, stated, “We have established a strong relationship with the team at Trustar Capital and are delighted to have such a valuable partner. Their profound insights and extensive experience in the global medical device market have been immensely helpful to us. Their support serves as a strong endorsement of our technology and team. Moving forward, we will better serve patients worldwide and continue our efforts to improve their quality of life.”

Zhou Wenliang, Senior Managing Director and Executive Partner at Sinovation Capital, stated, “The global market size for medical devices in cardiovascular and peripheral artery diseases has been on a steady upward trajectory. Notably, recent years have witnessed significant breakthroughs in technological advancements and clinical applications within the interventional device sector. MedAlliance’s specialized R&D team has cultivated deep expertise in this field over many years, demonstrating exceptional professional proficiency and research capabilities. The company stands at the industry forefront in both product innovation and regulatory approval progress. We have established a strong foundation of mutual trust with MedAlliance’s management team during earlier stages, and we are honored to deepen our partnership to support the company’s continued growth and expansion, bringing hope to patients suffering from cardiovascular diseases worldwide.”

Haiwen & Partners served as legal counsel to Trustar Capital in this transaction.