Dingke Medical Completes RMB 60 Million Financing Round to Accelerate Expansion in Cardiovascular Interventional Devices

VCBeat (WeChat ID: vcbeat) has learned that on October 8, 2018, Dingke Medical Technology (Suzhou) Co., Ltd. (hereinafter referred to as “Dingke Medical”) announced the completion of a RMB 60 million financing round, led by Qiming Venture Partners and co-invested by Heyu No. 1.The funds raised will be used to advance the clinical trials and registration of cardiovascular interventional consumables, expand the R&D pipeline for other vascular interventional products, and gradually build a commercial team.

Dingke Medical is dedicated to the research, development, and manufacturing of high-value vascular interventional consumables. Leveraging the team’s extensive experience in successful overseas R&D, multiple products have currently entered the registration application and clinical trial phases. Aligning with trends in China’s interventional market over the next decade, the company continues to launch premium domestically produced medical devices as import substitutes.

Weng Yulin, Founder and CEO of Dingke Medical, stated: “Amid the capital winter, Dingke’s current round of financing proceeded very smoothly, with the team’s hard work gaining recognition from the capital market. The company’s products under development are progressing well. The participation of Qiming Venture Partners and Heyu No. 1 will greatly promote the company’s growth and provide financial support for subsequent R&D products. Dingke will accelerate the market launch of its products to benefit patients in China at an earlier date.”

Hu Xubo, Managing Partner at Qiming Venture Partners, stated: “The founding team of Dingke Medical possesses many years of industry experience in cardiovascular devices, with a proven track record in the successful development of international interventional products and a deep understanding of the domestic clinical market. We are highly optimistic about Dingke and will support its growth into a premium company specializing in high-value consumables for vascular intervention.”

Dingke Medical, established in 2015, is a high-tech enterprise specializing in the research, development, and manufacturing of vascular interventional medical products, and has been recognized as a Science and Technology Leading Enterprise in Suzhou Industrial Park. The company currently employs 14 staff members, operates a 1,200-square-meter GMP-compliant cleanroom facility, holds ISO 13485:2016 quality management system certification, and has passed the quality system inspection conducted by the China National Medical Products Administration (NMPA).

Qiming Venture Partners is a leading venture capital fund in China. Over the years, it has focused on investment opportunities in four key sectors: internet and consumer, healthcare, IT technology, and clean technology, earning a prestigious reputation in China’s venture capital industry for its outstanding investment performance.

Over the past 12 years since its founding, Qiming Venture Partners has invested in more than 280 companies. Among these, over 50 have achieved exits through initial public offerings on exchanges such as the New York Stock Exchange (NYSE), NASDAQ, the Hong Kong Stock Exchange, the Taipei Exchange, the Shanghai Stock Exchange, and the Shenzhen Stock Exchange, or via mergers and acquisitions. Additionally, more than 20 portfolio companies have become industry-recognized unicorns.

Qiming Venture Partners’ portfolio of well-known companies includes: Xiaomi Corporation (01810.HK), CTK (CTK.US), Meituan Dianping (03690.HK), iTutorGroup, Meili United Group, Meitu, Inc. (01357.HK), Bilibili (NASDAQ: BILI), Tigermed (300347.SZ), Gan & Lee Pharmaceuticals, Zai Lab (NASDAQ: ZLAB), Hexing Electrical (603556.SH), Zhongchi Co., Ltd. (603903.SH), Topgen Life Sciences (300642.SZ), AmoyDx (300685.SZ), Berry Genomics (000710.SZ), HyperStrong, WeDoctor, Face++, UBTECH Robotics, Mobike, Sinocelltech, and Jingchi Technology, among others.