Genova Medical and Tonbridge Medical Complete Merger and Secure Hundred-Million-Yuan Series B Financing

VCBeat (WeChat ID: vcbeat) has learned that on January 17, GuiChuang Medical and TongQiao Medical jointly announced the completion of their corporate merger, as well as a new round of Series B financing following the merger. Reportedly, the total amount of this financing round reached hundreds of millions of yuan, with SDIC Innovation as the investor. Following the merger, the combined entity will strive to build a comprehensive solutions platform for medical device products and services in the field of peripheral vascular intervention and implantation in China.

GuanChuang Medical was founded with the development of high-end vascular medical devices, such as drug-eluting peripheral vascular stents and drug-coated balloons, which possess independent intellectual property rights and fill domestic gaps in China. The company’s first two products both received “Innovative Product” (Green Channel) certification from the National Medical Products Administration (NMPA). Currently, the company’s R&D projects have expanded to cover a full product line for the treatment of arterial and venous diseases.

According to available information, Zhejiang Zhongchuang Medical and Zhuhai Tongqiao, subsidiaries of Zhongchuang Medical, specialize in two major product lines: peripheral vascular interventional therapy and neurovascular interventional therapy, respectively. They provide comprehensive solutions encompassing independent research and development, manufacturing, and clinical services for the Chinese market.

Over the past two decades, the international medical community has witnessed numerous breakthrough innovations in minimally invasive endovascular interventions, implantation techniques, and the development of surgical consumables, driving rapid industry growth. Novel medical devices, represented by coronary drug-eluting stents, have provided patients with effective and reliable treatment options. Demonstrating significant clinical efficacy, these technologies are gradually surpassing traditional open surgeries and trending toward becoming the global gold standard for vascular therapy, while high-quality Chinese enterprises with international competitiveness have emerged prominently. Following the trajectory of coronary interventions, peripheral arterial and venous interventional devices—exemplified by drug-coated balloons and drug-eluting stents—as well as high-end neurovascular interventional devices led by intracranial thrombectomy stents and flow diverters, are poised to enter a phase of rapid development. It is projected that the domestic industry scale will maintain sustained high-speed growth over the next decade.

Compared with the relatively mature field of interventional cardiology, where domestically produced products account for more than 70% of the market share, the research and development, production, and marketing of domestic peripheral and neurovascular interventional products are just getting started. Currently, imported products hold an absolute dominant market share of 90%, indicating significant potential and room for import substitution in the future. Zhuangchuang Medical’s strategic layout and deep engagement in these niche sectors carry profound strategic significance and promising development prospects.

Tongqiao Medical’s founding team possesses leading domestic technology in implantable and interventional medical devices, aiming to industrialize its independently developed technological achievements, including intracranial aneurysm coils, intracranial thrombectomy devices, and intracranial drug-eluting stents. The company has filed eight patent applications (four of which are invention patents), with three already granted. Product R&D has achieved phased success, completed in vivo animal studies, and entered the clinical trial phase.

To more efficiently drive product development for both companies, GuiChuang and TongQiao recently completed their merger. The newly merged entity, GuiChuang TongQiao Medical, will deepen its product development and market presence in the field of vascular intervention, aiming to establish itself as a platform company in China’s high-value interventional consumables sector.

Dr. Zhao Zhong, Founder and Chairman of Zhenchuang Medical, stated: “Peripheral and intracranial vascular implantable and interventional devices represent a niche segment with significant growth potential for high-end medical devices in China. The company has implemented a phased strategic layout across its peripheral arterial and venous product portfolios, as well as its neurovascular interventional product lines for both ischemic and hemorrhagic conditions. We are committed to establishing Zhenchuang Medical as a leading domestic provider of comprehensive solutions in the fields of peripheral and neurovascular interventions.”

Lu Hai, Managing Director of SDIC Innovation, the investor in this round, stated: “Vascular interventional consumables are a medical technology sector we closely monitor. With its distinctive drug-eluting technology in peripheral interventional products and strong clinical performance in neurovascular interventional products, Jointcare Medical has gained recognition from numerous industry experts and clinicians. In the future, Jointcare has the potential to gradually expand its product portfolio, building on its foundation in peripheral and neurovascular products, break the monopoly held by foreign imports, and emerge as a leading platform-based enterprise in the field of vascular interventional consumables.”

As an investor from the previous round, Chen Bing, Partner at Honghui Capital, stated, “Congratulations to Zebra Medical on the successful completion of its Series B financing. First and foremost, we extend our gratitude to Dr. Zhao and the entire Zebra Medical team for their hard work, and we also thank the new investors for joining and providing support! We believe that Zebra Medical’s future development path will be more stable and smooth. The Honghui team remains firmly committed to supporting Zebra Medical, as well as the growth of other startup technology enterprises.”

As a representative of the co-investors, Zhou Yinghua, Founding Partner of Hanyi Capital, stated: “SDIC Innovation’s investment in this round will undoubtedly accelerate ZendoVasc’s journey toward becoming an industry leader, further underscoring the exceptional capabilities and strong execution of the ZendoVasc team. Achieving such results amid the current investment winter is particularly commendable. As shareholders, we will continue to dedicate all our resources and efforts to support ZendoVasc’s future, working closely with the team to fulfill its solemn commitments to patients and physicians at the earliest possible date.”