Peijia Medical Secures $100 Million Series C Financing to Build China's Leading Cardio-Cerebrovascular Interventional Platform

Peijia Medical announced today that it has secured $100 million in Series C financing, making it one of the largest funding rounds in recent years within China’s interventional and broader medical device sectors. The round attracted investment from prominent institutions, including a globally renowned private equity fund, Yuan Yi Investment, SDIC Innovation, and Chengtong Fund, while existing investors such as Matrix Partners China and Lilly Asia Ventures continued their support. Hywin Capital served as the exclusive financial advisor. The successful completion of this financing round underscores capital market recognition of Peijia Medical’s position in the interventional field and confidence in its future growth. Peijia Medical is committed to building itself into a leading cardiovascular and cerebrovascular interventional platform in China.

(Caption: Peijia Medical’s production workshop and R&D laboratory)）

Peijia Medical Limited was established in 2012 and completed its strategic integration with the neurointerventional company Jiaqi Biology in 2018. This integration has strengthened synergies across multiple dimensions, including R&D, clinical operations, quality control, operational management, and commercial promotion. The company’s independently developed heart valve and neurointerventional products operate in sectors that are among the fastest-growing within the medical device industry, characterized by substantial potential market size.

Dr. Zhang Yi, Founder and CEO of Peijia Medical, stated, “Cardiovascular and cerebrovascular diseases have long been the leading cause of patient mortality. As a high-end medical device platform specializing in structural heart disease and neuro-interventional therapies, Peijia has long been committed to addressing critical areas in need of breakthroughs. Driven by independent innovation and integrating the latest global technological advancements, we continuously invest in the development of new products and therapeutic approaches. Amidst the rapidly evolving clinical landscape of structural heart disease, Peijia not only provides Chinese physicians with high-quality, innovative valves tailored to Chinese patients, but also focuses on tackling frontier challenges in global medical science, building a platform for structural heart disease solutions with a worldwide reach.”

“In the field of neurointervention, Peijia Medical is currently the only company in China dedicated to the R&D, manufacturing, and sales of products for hemorrhagic conditions, ischemic conditions, and vascular access. It not only provides clinicians with comprehensive solutions, enabling more patients to access high-quality, cost-effective domestically produced medical devices, but also breaks the monopoly of imported products by achieving domestic substitution. This benefits patients while significantly reducing national healthcare expenditures,” said Zhang Yi. “The company has also adopted a global perspective in its layout within the neurointervention sector, with multiple products having obtained EU CE certification and marketing approval from Japan’s Ministry of Health, Labour and Welfare.”

It is understood that within its valve business, the first-generation aortic valve product, Taurus One, has completed clinical trials and is expected to obtain regulatory approval and be launched on the market in 2020. The second-generation aortic valve product, as well as mitral and tricuspid valve products, are also poised to enter clinical stages. In the neurointerventional business, electrochemically detachable coils, mechanically detachable coils, and access-related products have received regulatory approval and are being sold, while thrombectomy and aspiration devices are currently in clinical trials. Meanwhile, a range of supporting products for hemorrhagic and ischemic stroke are under accelerated development and will soon be introduced to the market.

Zhang Yi stated, “As the founder of the company, I am deeply grateful to the top-tier investment institutions in the industry for their recognition and support since our inception. The next ten to twenty years are destined to be a golden era for China’s broader healthcare sector, and Peijia Medical is committed to becoming a distinguished player within it. Sustained attention and support from the capital market will serve as a catalyst for Peijia Medical’s continuous innovation and pursuit of excellence. Developing products with independent intellectual property rights, emerging as an industry leader, and serving the health needs of patients both domestically and internationally have always been the original mission behind our establishment, and we will remain unwavering in our efforts to achieve this goal.”

Yang Jun, Managing Partner at Yuanyi Investment Management, stated, “We are delighted to see Chinese enterprises with systematic R&D capabilities and manufacturing processes for high-value cardiovascular and cerebrovascular consumables gradually emerging. To some extent, they have already broken or are poised to break the technological monopoly held by foreign companies. We believe that Peijia Medical will undoubtedly become an industry leader, delivering high-quality products that serve a large number of Chinese patients and save more lives.”

Xiao Zhi, Managing Director of SDIC Innovation, stated: “Since the U.S. FDA first approved TAVR (Transcatheter Aortic Valve Replacement) products for market entry in 2011, they have emerged globally as innovative new medical devices. Peijia Medical has implemented numerous customized designs tailored to the characteristics of Chinese patients, such as high calcification and bicuspid aortic valves. The company also maintains a strategic portfolio covering mitral and tricuspid valve products, along with a comprehensive neurointerventional product line, thereby providing superior therapeutic options for patients and physicians in China.”

Wei Ran, General Manager of Chengtong Fund Management Co., Ltd., stated: “Healthcare is one of the strategic emerging industries that our Structural Adjustment Fund focuses on. We are honored to invest in Peijia Medical, an innovative medical device company with strong independent R&D capabilities in the field of heart valves. The company not only boasts a rich and comprehensive product pipeline but also has a pragmatic, complementary, and highly executable management team, which aligns well with our value investment philosophy.”

Dr. Yu Zhiyun, Managing Director at Matrix Partners China, stated, “Matrix Partners was honored to lead Peijia Medical’s Series A financing and partner with the company on its journey. We have always been highly bullish on the value that minimally invasive interventions bring to patients. Over the past four years, Dr. Zhang Yi, the founder, has led his team to demonstrate a product R&D-centric approach, coupled with strong execution capabilities in clinical registration, manufacturing, and fundraising. With a robust pipeline of follow-on products, Peijia Medical is poised to become a leader in the cardiovascular and cerebrovascular intervention field, both in China and globally.”

Dr. Chen Fei, Managing Partner at Lilly Asia Ventures, stated, “Both artificial heart valves and neurointerventional devices are fields driven primarily by technology, where product design, technical craftsmanship, and mass production capabilities are key. China’s vast potential market and the unique needs of its patients further provide Chinese innovative medical device companies with opportunities to overtake competitors on the curve. We are pleased to see Peijia Medical attract high-quality investors during its financing process, joining forces to build a Chinese innovative medical device company oriented toward the global market.”

Liu Hao, Founder and CEO of Haoyue Capital, stated: “Haoyue Capital is honored to have assisted Peijia Medical in completing this round of financing. An outstanding company requires not only strong R&D capabilities but also leading strategic vision, which is an essential trait for building a platform-oriented enterprise. These qualities have been highly recognized by numerous top-tier investment institutions and strategic partners. With the successful completion of this financing round, and as the company accelerates R&D across multiple pipelines, product commercialization is imminent. We believe that Peijia Medical, leveraging its technological advantages and with capital support, will continue to consolidate its industry position, expand and strengthen its product portfolio, and achieve new strategic breakthroughs.”