Dongmai Roadshow Session IV Highlights: Focus on Medical Device Sub-sectors in Oncology, Cancer, and Cardiology

Amid the ongoing “revolution” in the healthcare sector, driven by the dual forces of medical device innovation and digital innovation, the efficiency and quality of disease screening, diagnosis, and treatment have significantly improved. In contrast, capital market dynamics show that investment enthusiasm is largely concentrated in the fields of medical devices and pharmaceuticals, biotechnology, and digital innovation.

This week, VCBeat’s Roadshow Hall focuses on medical devices and digital healthcare innovation, highlighting five premium projects. Let’s explore which niche “lanes” innovative companies have chosen within these two crowded “tracks,” as they continuously run, advance, and surpass expectations.

Interviews with the founders of various projects by our reporter team are currently underway. Related startup coverage will be published sequentially on the VCBeat website and its official WeChat account. Teams and institutions interested in these projects are welcome to stay tuned for updates from VCBeat.

Oncology-Specific Single-Disease Focus, Medical Big Data, and Precision CSO

Mingzhi Healthcare was originally the Medical Big Data Division of Beijing Insight Technology Co., Ltd. It was registered and established in Shanghai in May 2018 based on business development planning. In the field of oncology, the company maintains long-term collaborations with leading professional societies and has jointly initiated nationwide single-disease (starting with liver cancer) registry-based clinical studies. By leveraging in-hospital data entry and out-of-hospital patient follow-up, the company extensively collects relevant medical data to establish China’s largest single-disease database.

By establishing a patient-centric, full-sample big data database and building an intelligent healthcare platform, the project provides industry stakeholders with clear efficacy maps, offers pharmaceutical manufacturers precise market services, supplies physicians with clinical decision support systems and clinical research support, and delivers smart healthcare solutions to patients, thereby significantly enhancing the quality and efficiency of diagnosis and treatment across the industry. Currently, it has signed agreements with nearly 100 hospitals. In its flagship focus area of liver cancer, virtually all companies developing targeted therapies and immunotherapies have established collaborations with the platform.

Financing Plan: Series A Funding

Financing Amount: RMB 40 million

Use of Proceeds: Expand the number of contracted hospitals and broaden coverage to new cancer types

Financing History: Pre-A Round RMB 33 million (SDIC Innovation Investment, May 2018)

Medical AI, Intelligent Breast Cancer Screening

Baili Technology is a national high-tech enterprise specializing in healthcare informatization and AI-powered medical image analysis. Its founding team has over a decade of extensive experience in medical imaging, big data, and cloud computing, and has secured more than 20 invention patents and software copyrights. In collaboration with medical institutions such as Beijing Cancer Hospital, Peking University Third Hospital, Shaanxi Provincial Cancer Hospital, and the Fourth Military Medical University of the Chinese People's Liberation Army, the company’s products have undergone clinical analytical validation and obtained certification from the China Food and Drug Administration (CFDA). Currently, it also undertakes public health projects for breast and cervical cancer screening in Xi’an and other regions.

The company’s flagship products are medical computer-aided examination and remote diagnosis systems, represented by AI-based breast cancer detection solutions. Its core technical team members possess an average of over ten years of professional expertise and R&D experience, including several senior software engineers, image processing specialists, and network communication technology experts. The company aims to become a world-class provider of intelligent healthcare screening systems.

Funding Plan: Series A+

Financing Amount: 30 million; Equity Stake: 15%

Use of Funds: Model Replication, Market Expansion

Funding History: Series A, RMB 20 million (Guiyang Zeyu Kejin Emerging Industry Innovation Fund, August 2018)

Long-term Continuous Monitoring, Intelligent Healthcare, Medical Big Data

CardioGuard, the intelligent wearable ECG system launched by Zhengxin Technology, is a high-precision, medical-grade cardiac monitoring solution designed for personal use. It enables users to perform efficient cardiac assessments and remote diagnostics anytime, anywhere. The system offers 3–8 times higher examination efficiency than traditional devices while reducing costs by 90%. Capable of continuous 14-day monitoring with wireless data transmission, it provides real-time detection of 54 types of arrhythmias, allowing physicians to conduct remote diagnoses when abnormalities are identified. The Zhengxin AI intelligent algorithm, trained on 15 million big data records, achieves an overall accuracy rate of 95%.

Currently, Zhengxin Technology has partnered with over 400 hospitals and established strategic collaborations with several major internet healthcare companies, thereby creating a diversified market promotion model.

Financing Plan: Pre-A Round Financing

Financing Amount: RMB 30–50 million

Use of Proceeds: Service and Operational Infrastructure (30%), Marketing (20%), R&D (25%), Production (15%), Others (10%)

Funding History: Angel Round – RMB 30 million (invested by founding shareholders)

TAVR, Aortic & Mitral Valve Replacement, Positionable and Recapturable

The shareholders of Serrano Company are the actual controllers of Haisco Pharmaceutical Group. In 2016, Haisco Pharmaceutical Group acquired the TAVR technology, R&D system, and manufacturing facilities from U.S.-based DFM Company, while retaining most of its core technologies and operational team. DFM Company is a globally renowned enterprise in the field of TAVR. Its first-generation TAVR product received CE certification in 2013 and was successfully applied in nearly 3,000 aortic valve patients in Europe, achieving sales revenue of USD 20 million in 2015.

The company’s technical team is primarily composed of professionals from renowned domestic and international enterprises such as Medtronic, Edwards Lifesciences, and Hangzhou Qiming, with an average of 15 years of experience in the field of heart valves. The company’s product is the world’s only non-metallic (polymer) bovine pericardium TAVR device, with postoperative paravalvular leakage rates amounting to only one-third of those reported by international peers. It maintains close collaborations with eight authoritative TAVR hospitals in China. Reportedly, Serano plans to list in Hong Kong as an independent medical technology company, striving to become a leading enterprise in China’s structural heart disease device sector.

Funding Plan: Series A Financing

Financing Amount: RMB 50–100 million

Capital Path: IPO Launch in 2022

Pre-money valuation: $100-150 million

Use of Funds: Upgrading aortic valve products, R&D of mitral valve products, and CE certification and NMPA clinical trials and registration for aortic valve products

Heart Failure Monitoring and Management Devices

Founded in 2007, the company is a global leader in non-invasive heart failure monitoring and management. Headquartered in Israel with a branch in New Jersey, USA, it currently employs 52 people. The company has secured 63 patents and patent applications, and obtained FDA clearance in the United States and CE marking in Europe. It is currently applying for registration with the NMPA (China).

ReDS originated from radar through-wall imaging technology used in military applications and has evolved into medical radiofrequency monitoring and imaging technology. It is designed to detect pulmonary fluid in heart failure patients in hospitals, clinics, and home settings, thereby better supporting the diagnosis and treatment of heart failure. ReDS requires no direct skin contact; patients need only wear lightweight clothing. The measurement and data readout are completed in 90 seconds (reduced to 45 seconds in the second-generation product). ReDS has been proven effective in real-world settings, significantly reducing readmission rates and hospitalization costs.

Funding Plan: Series C+

Financing Amount: 30 million

Use of Proceeds: Global Business Expansion, Scaling Up Manufacturing, and Reducing Costs for Household Products

Funding History: Angel Round $4.9 million (2009; SCP Vitalife Partners, Genesis Partners, and TriVentures participated in 2009)

Series A: $17 million (led by Boston Scientific and China Longtai Medical, 2013)

Series B: $21.8 million (led by Haisco Pharmaceutical, 2015)

Series C: $6.05 million (led by Yizhao (Hong Kong) Investment Co., Ltd., 2018)

Meanwhile, during the Top 100 Future Healthcare Conference, the VBBeat Roadshow Hall will host its first offline roadshow event—the Future Healthcare Roadshow Hall. Forty admission tickets are now in high demand and available for reservation. To register, please contact Xiao Yun at VCBeat.