Leekaitech Secures Hundreds of Millions in Series C Funding to Build a Global Innovative Medical Device Platform Driven by In-house R&D and BD Strategy

Recently, KAI MEDTECH successfully completed a Series C financing round worth hundreds of millions of RMB.This round of financing was led by Guoxin Investment, with follow-on investment from the Heli Fund of Wuxi Capital Group.. In recent years, as investment has become increasingly cautious, KAI MEDTECH has continued to attract capital market favor, securing multiple substantial financing rounds: a B+ round of over RMB 200 million in March 2022 and a B round amounting to hundreds of millions of RMB in August 2021. This underscores the capital market’s strong recognition of KAI MEDTECH’s deep commitment to technological R&D and its pursuit of cutting-edge innovation.

KAI MEDTECH, established in 2019, specializes in the R&D, manufacturing, and sales of vascular interventional medical devices, with a comprehensive product portfolio covering hemorrhagic, ischemic, and access categories.The company is committed to establishing itself as a leading innovation technology and service platform in the global cerebrovascular device sector, and indeed across the broader medical device industry. By leveraging neurointerventional technologies as its entry point, the company employs a dual-engine strategy driven by robust internal R&D capabilities and extensive global business development (BD) exploration, supported by a comprehensive closed-loop system integrating “R&D – Product – Marketing & Sales.”。

Since receiving approval for its first Class III medical device certificate in 2021, KAI MEDTECH has successfully launched nine market-leading products within just two years, becoming the only supplier in China to offer a comprehensive portfolio covering the entire neurointerventional pathway.The flagship product, the Cyllene aneurysm-assist stent, is currently in the registration phase and is expected to be launched by the end of 2024.. The company plans to launch at least five self-developed innovative products in 2024, including two peripheral vascular products, thereby further enriching its diversified development strategy.

In the challenging year of 2023, amidst drastic changes in the external environment of the healthcare industry, KAI MEDTECH leveraged its exceptional market insights to successfully secure bids for multiple products in centralized procurement across several key provinces. This achievement drove a leapfrog growth in sales revenue and facilitated breakthrough progress in overseas markets, enabling the company to reach the upper limit of its set sales targets.

In 2023, KAI MEDTECH also achieved rapid development in product manufacturing. The company overcame numerous challenges, progressing from R&D pilot production and process optimization to the simultaneous mass production and market supply of multiple products across multiple pipelines. Its product quality has been widely acclaimed by the market, establishing a strong reputation among clinicians and distributors.

Upon the completion of this round of financing, KAI MEDTECH will further strengthen its research and innovation in core technologies for interventional devices, while simultaneously initiating the development of multiple market-disruptive innovative products. The company also plans to expand its commercialization team and optimize international sales channels, with the aim of establishing KAI MEDTECH as an international, comprehensive, and sustainable innovation platform for medical devices.

KAI MEDTECH will also commence construction of a new 7,000-square-meter production base in Jiangyin City, Jiangsu Province. This initiative will further drive high-quality development of the company’s manufacturing processes, strengthen production capacity, and ensure steady improvements in product quality and supply stability. The new production base will serve as a key pillar for technological innovation and enhanced production efficiency, laying a solid foundation for KAI MEDTECH’s sustained growth and market expansion in the medical device sector.

For this round of financing,Liu An, Chairman of KAI MEDTECHStatement: We extend our gratitude to Shanghai Guoxin Investment And Development Co.,Ltd, Wuxi Capital Group, and our existing shareholders for their trust. This successful round of financing is not only an affirmation of KAI MEDTECH’s continuous innovation and outstanding achievements but also strong support for our future strategic direction. We remain committed to achieving breakthroughs in the field of neurointerventional medical devices, providing higher-quality medical solutions, and truly realizing comprehensive and sustainable domestic substitution. This financing will enable us to accelerate our R&D process, launch more innovative products, and expand our influence in the global market. We are confident in the company’s future and look forward to playing a greater role in improving patient treatment experiences and enhancing the level of medical services.

Lu Zhen, CEO of Guoxin InvestmentShanghai Guoxin Investment And Development Co.,Ltd. stated: “After a thorough assessment of KAI MEDTECH’s market performance and technological innovation, we are confident in its leadership position in the field of neurointerventional medicine. Shanghai Guoxin Investment And Development Co.,Ltd. has chosen to support KAI MEDTECH because we believe that its technical expertise and development strategy will bring revolutionary changes to the medical device industry. We look forward to close collaboration with KAI MEDTECH in the future, jointly focusing on the healthcare sector to drive the company’s sustained growth and deliver more cutting-edge technologies and efficient solutions to the medical field.”

Xu Yanjie, Executive Vice President of the Wuxi Capital Group and He TeamStatement: We have full confidence in the professional expertise, technological innovation capabilities, and market foresight of the KAI MEDTECH team. KAI MEDTECH’s significant progress in the field of neurointervention and its continuous pursuit of international standards make it an obvious choice for our investment. We believe that KAI MEDTECH will not only accelerate the market promotion of its products but also lead the industry toward higher international standards. We will leverage our resources to assist KAI MEDTECH in enhancing its mass production planning, jointly promoting KAI MEDTECH to become a leading global innovative manufacturer of medical devices.

Shanghai Guoxin Investment And Development Co.,Ltd. was established in 2000 with a registered capital of RMB 4 billion, operating as a wholly-owned subsidiary of Shanghai State-owned Assets Operation Co., Ltd. With years of accumulated experience in equity investment, Guoxin Investment possesses strong capabilities in project screening, investment, and management. It has successfully invested in numerous renowned domestic biopharmaceutical and medical device enterprises, including Tigermed, Aier Eye Hospital Group, Dongcheng Pharmaceutical, United Imaging Healthcare, and Lepu Medical. Adhering to its business philosophy of “discovering value, creating value, and growing together with outstanding enterprises,” Guoxin Investment will continue to play a significant role in implementing the strategic functions of Shanghai International Group, empowering the real economy with financial capital and supporting the development of Shanghai as a global science and technology innovation center.

Wuxi Capital Group Co., Ltd. (abbreviated as “Wuxi Capital Group”), formerly known as Wuxi Financial Venture Capital Group Co., Ltd., is a state-owned venture capital firm integrating seed, angel, venture, equity, and M&A funds, with a current registered capital of RMB 2.188 billion.

Embracing Reform: Wuxi Capital Group Ignites the Innovation Engine with the Flame of Reform, Integrates Business Resources, Enhances Its Venture Capital System, Accelerates the Exploration of Market-Oriented Institutional Reforms, and Establishes a Presence in Shanghai, Shenzhen, and Other Regions. It Has Built a Professional Investment Management Team with Outstanding Capabilities, Extensive Experience, and a Prudent Style, Continuously Strengthening Its Development Vitality to Become a Venture Capital Group with International Influence.

Through dedicated and meticulous efforts, Wuxi Capital Group has established a fund system covering the entire lifecycle of enterprises, with total assets under management exceeding RMB 186 billion, providing comprehensive support tailored to each company’s development stage. Focusing on strategic emerging industries such as biomedicine, integrated circuits, dual-carbon energy conservation, and advanced manufacturing, the group has cumulatively invested in over 900 companies through its self-managed funds, with a total investment amounting to nearly RMB 70 billion, and has participated in nurturing more than 100 listed enterprises, including NCE Power, Angelalign, and Zhongjie Precision Industry.