Kangfeng Biotech Secures Tens of Millions in Series A+ Funding Led by Bilingual Star Ventures and Files IPO Prospectus

VCBeat (WeChat: vcbeat) has learned that Kangfeng Biotechnology (Shanghai) Co., Ltd. recently completed a tens-of-millions-yuan Series A+ financing round, led by Proxima Ventures, with other investors including Galaxy Source Holdings and Shengshan Capital. It is reported that upon completion of the financing, Sun Xiaolu, Partner at Proxima Ventures, will join the Board of Directors of Kangfeng Biotechnology.

Kangfeng Bio is dedicated to exploring the application of cryogenic technology in the cardiovascular field and in innovative minimally invasive interventional medical devices. The company’s team comprises U.S.-based cryogenics experts, senior Chinese cryogenics engineers, seasoned executives from China’s cardiovascular device industry, and a panel of expert advisors consisting of renowned Chinese physicians, bringing extensive industry experience in cardiovascular medical devices. The company has filed more than 50 patent applications, with some patents already granted in the United States and Europe.

After years of research and exploration by teams in both China and the United States, Kangfeng Biotech has mastered key technologies in cryoablation equipment, catheters, and control systems. The company has developed six major categories of innovative cardiovascular cryoablation products, including atrial fibrillation cryoablation systems and renal denervation ablation systems for the treatment of refractory hypertension. Some of these products have already entered human clinical trials, while others have received approval through the China Food and Drug Administration’s (CFDA) green channel for expedited review.

In the field of cardiovascular medicine, cryoablation offers numerous advantages over traditional radiofrequency ablation, including enhanced procedural safety, better patient tolerance, broader indications, fewer complications, and a lower risk of thrombus formation. Additionally, it significantly reduces procedure time and features a shorter learning curve. Notably, since the publication of the “Fire and Ice” trial results in 2016, cryoablation has gained increasing clinical recognition both domestically and internationally for the treatment of atrial fibrillation (AF). The global number of procedures performed using Medtronic’s AF cryoballoon has exceeded 200,000, with the number of patients in China undergoing cryoablation for AF rapidly surpassing 20,000.

Compared with the international nitrous oxide-based cryoablation technology, Kangfeng Bio’s liquid nitrogen cryotherapy offers distinct advantages: an environmentally friendly cold source, higher freezing efficiency, lower surgical risk, more versatile procedural control, and reduced costs, all backed by independent global intellectual property rights.

As an investor in this round of financing, Proxima Ventures stated, “We are optimistic about the application of cryotechnology in the cardiovascular field. We have particular confidence in Kangfeng Bio’s globally innovative, independently owned intellectual property technology platform, as well as the company team’s clinical experience and industrialization capabilities in the cardiovascular device industry. We look forward to Kangfeng Bio’s product portfolio entering the market as soon as possible, enabling more Chinese patients to access safer, more effective, and more cost-effective treatments. Alongside this financing round, additional executives with expertise in cardiovascular devices and cryotechnology will join the company team, working together to establish Kangfeng Bio as an international pioneer in minimally invasive cryo-interventional therapies for cardiovascular diseases.”

Kangfeng Biotech was founded in 2013 and secured tens of millions of RMB in Series A financing from Yuansheng Venture Capital in early 2018.