Tianhong Shengjie Completes ￥10M Series A + Financing

According to VCBeat, Suzhou Tianhong Shengjie Medical Co., Ltd. (Tianhong Shengjie), the first company in China to focus on intravenous therapy, has raised tens of millions of yuan in Series A + round, with participation from SND Ventures Group and Green River Investment. Proceeds of this financing will be used for the further promotion of products in the clinical stage and the development of follow-up products.

Established in March 2016, Tianhong Shengjie is the first medical high-tech enterprise focusing on the development of medical devices for intravenous therapy. Four years after its establishment, Tianhong Shengjie has obtained the National Medical Products Administration (NMPA) approval in four products, and the core product iliac vein stent was successfully approved to enter the national special approval procedure for innovative medical devices in October 2018.

Since its establishment, Tianhong Shengjie has applied for 26 patents, among which 7 patents for invention have been granted, 1 PCT patent has been granted, and 1 patent for invention in American has been obtained, and the European patents are being published. In addition, the company jointly published 4 related articles, including 1 by SCI, 2 by EI, and 1 by core journal in 2018-2019.

Tianhong Shengjie's products aim to cover the entire process of intravenous treatment. In the treatment for vein, the most important four problems are obstruction, stenosis, thrombosis, and reflux. The company mainly solves the problem of obstruction and stenosis at first.

Wang Yonggang, the chairman of Tianhong Shengjie, said, "I think the reasons Tianhong Shengjie got the attention of the capital, of which the first is that the domestic intravenous therapy market is an urgent field to be developed, and we are the first Chinese company to explore in this field. The second is our team, talents + efficient R&D and operation, lay the foundation for our leadership in this field. "

Founded in July 2008, SND Ventures Group is a venture capital and private equity firm specializing in seed investments, with current registered capital of 940 million yuan. The group has established more than 30 funds and more than 40 member enterprises, with AUM of more than 10 billion yuan.

Founded in 2007, Green River Investment is a venture capital firm with AUM over 3 billion yuan. It has invested in more than 50 innovative companies to provide capital and operational support for high-quality projects. The company mainly focused on biomedical, new energy, new materials, and high-end manufacturing.