CoreMed Devices Secures Over $100 Million in Series D Funding, Solidifying Leadership in Artificial Heart Innovation

According to publicly available data from the investment and financing market, Core Medical's over 100 million US dollar D-round financing is the largest in China as of 2025.The largest-scale market-oriented financing in China's innovative medical device sector, and also the highest amount of financing in China's artificial heart industry to date.This not only reflects the high recognition from top investment institutions in China and globally for Core Medical's underlying technological innovation, but also demonstrates the deep approval of the company’s product pipeline layout, commercialization, and internationalization strategy.

The new round of financing will be used for incubating original and disruptive frontier technologies, accelerating innovative product development, promoting the company's international strategic layout, enhancing international competitiveness, and driving the company to continuously lead the global "artificial heart" industry with China's innovative momentum.

As one of the most important investors in Core Medical, the company, based on its understanding of technology and industry, has established a deep connection with Core Medical. Acting as patient capital, it adopts a dual-driven model of "technology investment + science innovation services" to provide comprehensive empowerment for enterprises and continuously support their growth.

Dr. Yu Shunzhou, Founder and CEO of Core Medical, Shares at Beihang Global Innovation and Entrepreneurship Competition

Dr. Yu Shunzhou, Founder and CEO of Core Medical, attended.BEU "Scientific Entrepreneur Program" Networking Event, VisitBeijing Advanced Innovation Center for Biomedical Engineering

Heart failure is a complex clinical syndrome characterized by high incidence, high mortality, high hospitalization rates, low quality of life, and high medical costs. According to a global epidemiological review, there are approximately 64 million heart failure patients worldwide, of which China has 12.1 million patients aged 25 or above, placing a significant burden on the global healthcare system and social resources.

As a pioneer explorer in the global artificial heart field, Core Medical has built a complete product layout for the entire life cycle of heart failure treatment, comprehensively safeguarding heart failure patients with better and more innovative products. Relying on its outstanding technical strength and forward-looking strategic layout,The company is transitioning from "Best-in-Class" to "First-in-Class" in the field of implantable and interventional artificial hearts, and has developed several globally pioneering products.

In the field of implantable artificial hearts, traditional LVADs can only provide support for the left heart circulation. For end-stage heart failure patients, over 30% of those with right heart and biventricular failure currently have no mature long-term treatment options available. Based on its "time-sharing and zonal axial full magnetic levitation control technology," Core Medical has expanded the technological boundaries in the artificial heart field, continuously leading the trend toward miniaturization and lightweight designs. It has developed the integrated full magnetic levitation biventricular assist system DuoCor®, which has already been applied in over 10 clinical cases. The product represents the most advanced international standards, helping to address the global challenge of long-term treatment for right heart and biventricular failure, filling a void in the global industry's "uncharted territory," and showcasing China’s strength in technological self-reliance on the international stage.

In the field of interventional artificial hearts, there are currently no approved products on the market in China. CorVad®, an interventional artificial heart product developed by Core Medical based on axial magnetic flux multi-drive technology, has achieved a new breakthrough in miniature motor technology within the body. The company's development of multiple pipelines and models of interventional artificial heart products can meet the needs of different patients and various clinical scenarios. These innovations are expected to fill the gap in China’s medium- and short-term artificial heart market, helping numerous patients with acute heart failure and other critical cardiovascular conditions overcome these challenges.

Since the advent of the first-generation large-volume pulsatile blood flow pump in the 1990s, the implantable artificial heart industry has undergone decades of technological iteration and breakthroughs. Throughout this process, miniaturization and lightweight design have consistently been important trends in technological evolution and long-term goals for clinical benefits. However, due to the coupling constraints of cross-dimensional performance parameters, achieving breakthroughs in miniaturization and lightweight technology faces significant challenges.

Core Medical, based on the breakthrough in axial full magnetic levitation technology, has developed Corheart® 6, a new generation of full magnetic levitation left ventricular assist artificial heart product that is the smallest in size, lightest in weight globally, with better blood compatibility and more portable external equipment.

Full Magnetic Levitation Left Ventricular Assist System Corheart®6

According to data disclosed by the National Center for Cardiovascular Diseases and Fuwai Hospital, following the approval and market launch of Coreheart® 6 by Core Medical in June 2023, the number of LVAD implants in China has doubled over the past two years. From 2017 to 2024, a total of 1,446 LVAD implant surgeries were performed across 187 hospitals in China. In terms of end-user implant volume, Coreheart® 6 held a 46% market share in China in 2024, ranking first in the industry. As of the end of 2024, its cumulative implant volume also ranked first in the industry. To date, the cumulative clinical application volume of Coreheart® 6 has exceeded 700 cases.

2025 Tongji International Cardiovascular Conference (TICC)

After years of development, the global artificial heart industry has entered a highly monopolized pattern, with international giants occupying strong competitive positions for a long time. Only more comprehensive and innovative products can secure an advantageous position in international competition.

Since its establishment in 2016, Core Medical has continuously led innovation in the artificial heart field. Its self-developed Corheart®6 Implantable Left Ventricular Assist System (LVAD), DuoCor® Integrated Full Magnetic Levitation Biventricular Assist System (BIVAD), and CorVad® Interventional Ventricular Assist System (PVAD) have successively passed the NMPA Innovative Medical Device Special Review Process application, entering the "green channel." This not only accelerates the product’s market entry but also further enhances the company's market competitiveness.

In addition, Core Medical successfully completed the first clinical trial enrollment in Europe in May 2024, becoming the first artificial heart enterprise in China to conduct clinical trials overseas. The company's self-developed innovative integrated full magnetic levitation dual ventricular assist system, DuoCor®, has simultaneously entered global clinical trials. As a First-in-Class product, DuoCor® will further establish Core Medical as an industry leader in the field of heart failure treatment and bring hope to a large number of end-stage biventricular heart failure patients worldwide who currently have no access to mechanical support.

In the medium- to short-term interventional artificial heart field, the CorVad® series of products from Shenzhen Core Medical Technology Co., Ltd. will synergize with implantable products to achieve comprehensive coverage of intra- and extra-cardiac circulatory support scenarios. This further facilitates collaborative treatment and patient referral channels across cardiology, critical care centers, and cardiac surgery departments, meeting a wide range of clinical needs with more comprehensive, superior, and safer product performance and clinical outcomes.

Currently, the accessibility of artificial hearts is gradually improving. Since September 2024, artificial hearts have been included in the medical insurance catalog and pilot applications have been launched in many parts of China. Especially in March 2025, the National Healthcare Security Administration issued the "Guidelines for the Establishment of Medical Service Price Items for Cardiovascular System Services (Trial)," which, for the first time, incorporated artificial heart implantation surgery into price management projects. The implementation of these policies has not only effectively reduced the overall economic burden of treatment for end-stage heart failure patients but also greatly promoted the popularization of this cutting-edge technology. Looking ahead, Core Medical, with its innovative capabilities, first-mover advantages, and market layout in the artificial heart field, will bring more treatment options and survival hope to tens of millions of heart failure patients.

Dr. Yu Shunzhou, founder and CEO of Core Medical, said: ""We are deeply honored to have received support and recognition from professional investors on all sides. This is not only an affirmation of our past achievements but also a strong boost for our future journey. This round of financing will effectively accelerate the internationalization process of Core Medical's entire pipeline of core products. Core Medical will continue to rely on technological innovation to bring newer and better innovative medical products to heart failure patients worldwide."