WeiMi Medical Secures Tens of Millions RMB in Pre-A Funding to Advance MeshCoil Aneurysm Embolization Device into Clinical Trials

VCBeat (WeChat ID: vcbeat) has learned that Shanghai MicroMedTec Co., Ltd. (hereinafter referred to as “MicroMedTec”) has completed a Pre-A financing round worth tens of millions of RMB. The proceeds will be used to advance the clinical studies of its aneurysm interventional therapy product, the MeshCoil flow diverter. It is reported that this round of financing was exclusively invested by Chende Capital. Previously, MicroMedTec secured an angel round financing of several million RMB in November 2018.

MicroMedTec is a medical device company dedicated to the research and development of interventional products for cerebrovascular diseases. Focusing on minimally invasive therapeutic techniques, the company is committed to providing novel solutions for patients with cerebrovascular disorders. MicroMedTec has currently developed an innovative minimally invasive interventional device, the “MeshCoil Dense Mesh Occluder,” which is indicated for the treatment of intracranial ruptured aneurysms.

Xiang Yonggang, Founder and CEO of MicroMedTec, brings 15 years of experience in the minimally invasive interventional medical device industry. He has previously served as a Senior R&D Engineer and R&D Director at renowned medical device companies, where he successfully developed and commercialized multiple leading minimally invasive interventional therapeutic devices. During his career, he has obtained more than 50 invention patents in his name, several of which have been granted by the European Patent Office.

MicroMedTec’s founding team also includes senior engineering professionals and clinical experts from both China and abroad. The R&D team’s robust technical capabilities have laid a solid foundation for MicroMedTec to launch more innovative medical products in the future.

China is one of the countries with the highest incidence of stroke in the world. According to data from The Lancet, from 1990 to 2017, stroke became the leading cause of death among Chinese patients, with an overall mortality and disability rate exceeding 60%.

Stroke, commonly known as “wind stroke,” is an acute cerebrovascular disease classified into ischemic and hemorrhagic types. Ischemic stroke refers to the obstruction of cerebral blood vessels that prevents blood from flowing into the brain, while hemorrhagic stroke refers to the sudden rupture of cerebral blood vessels causing subarachnoid hemorrhage, which leads to increased intracranial pressure and severe neurological deficits.

Among the two major categories of stroke, China’s incidence rate of ischemic stroke is 1.36 times the global average, while the incidence and mortality rates of hemorrhagic stroke are twice the global average.

Currently, the clinical strategy for treating hemorrhagic stroke is implemented through the use of neurointerventional products, with 90% of such products used in China being imported. The primary interventional device is the "embolization coil," a soft metallic helix made of alloy. The procedure involves making a small incision in the groin area and delivering the embolization coil into the aneurysm sac via a catheter, where it gradually promotes thrombus formation to occlude the aneurysm cavity.

In May 2018, MicroMedTec launched its first project—the MeshCoil aneurysm mesh occluder, a novel neurointerventional therapeutic product. Compared with coil embolization, which requires prolonged procedures, high costs, and multiple packing sessions, this mesh occluder can achieve the therapeutic effect of multiple coils through a single, rapid deployment. Currently, MicroMedTec’s MeshCoil mesh occluder is available in various designs and specifications, meeting diverse clinical needs for the treatment of intracranial aneurysms.

Xiang Yonggang revealed that MicroMedTec is currently engaging in industry-academia-research collaborations with multiple Grade A tertiary hospitals to advance the clinical study of its products. In the future, the company plans to further expand its product portfolio for the treatment of intracranial aneurysms, with blood flow diversion devices for pre-rupture aneurysms and interventional therapy products for post-rupture cases currently under simultaneous development.

Regarding the current intracranial aneurysm market, Xiang Yonggang stated, “The neurointerventional field today is akin to the cardiac intervention market of 15 years ago, presenting substantial and rapidly growing market opportunities. MicroMedTec boasts strong R&D capabilities, innovative product designs, and a diverse product portfolio, with its core products addressing a market size exceeding RMB 10 billion.”

MicroMedTec is located in the Shanghai International Medical Zone. The company has established professional R&D laboratories and Class 10,000 GMP clean workshops. It currently receives support from programs such as the Shanghai Science and Technology Support Program.

Regarding the investment in MicroMedTec, Hao Changning, Vice President of Chende Capital, stated: "In recent years, neurointervention has become a minimally invasive therapeutic field with significant growth potential, and has also emerged as a hot sector sought after by investors. Endovascular treatment for cerebrovascular diseases is rapidly becoming the third major solution, following internal medicine pharmacotherapy and surgical intervention. MicroMedTec’s product portfolio covers multiple sub-segments, including hemorrhagic cerebrovascular lesions, offering substantial market space and growth potential."

Chende Capital is an investment firm specializing in the life sciences and medical technology sectors. It manages multiple USD and RMB funds, with total assets under management exceeding RMB 4 billion. Led and operated by a professional team with extensive experience in the healthcare industry, Chende Capital has completed investments in over 40 projects and achieved successful exits from several portfolio companies. Committed to building leading enterprises in the healthcare sector, Chende Capital strives to deliver optimal returns to its investors.