Wushuang Medical Completes Series C Round of Nearly RMB 150 Million to Accelerate Innovation and Commercialization in Cardiac Rhythm Management

VCBeat learned第一时间 that recently, Singular Medical announced the completion of a nearly 150 million yuan C-round financing. This round of financing was led byTasly CapitalLed by, existing shareholdersQiming Venture Partners, SND Finance, HWealth CapitalContinue to support. The funds raised from this round of financing will be used for the research and development of the company's next-generation products and commercialization, etc.

Singular Medical is a leader in the independent research and production of Cardiac Rhythm Management (hereinafter referred to as "CRM") medical devices in China, committed to building a high-end CRM medical device brand in China. The company's product line covers Implantable Cardioverter Defibrillators (hereinafter referred to as "ICD"), Insertable Cardiac Monitors (hereinafter referred to as "ICM"), pacemakers, and more. By bringing together experts from both China and the United States, the company has, over the course of eight years, accumulated profound technological expertise and industry solution experience in this field, forming core technical capabilities and implementation methodologies that cover the entire lifecycle of the CRM system.

Singular Medical - HWealth Capital^®ICD Conducts Clinical Trials by the End of 2023, Completes All Enrollment and Follow-ups, and Treats Dozens of Ventricular Arrhythmia Patients Outside the Hospital. The Product Has Full Independent Intellectual Property Rights, Performance Comparable to Mainstream Imported Products, and Excellent Clinical Performance.

Singular Medical - SiLv^®ICM Clinical Trials Commenced at the End of 2023: All Enrollments and Follow-ups Completed with Excellent Clinical Performance; P-wave Visibility Demonstrates Leading Advantages. Equipped with Bluetooth Telemetry, This Product Supports Real-time Cloud Transmission via Mobile Phones, Offering More Timely Diagnostic and Treatment Assistance Functions, Covering Home Monitoring.

Since 2021, Singular Medical has demonstrated strong growth momentum, consecutively receiving the titles of "Suzhou Unicorn Cultivation Enterprise" and "Jiangsu Province Potential Unicorn Enterprise" for four years. In 2022, Singular Medical was recognized as the "Best Medtech Company in China 2022" by the U.S.-based Medtech Outlook magazine, gaining international prominence. In May 2023, the company won the VB100 "2023 Future Healthcare 100 Strong - Value Field Award - Cardiovascular Intervention Category." The same year, it was successfully listed on Forbes Asia's "100 Companies to Watch in Asia," further enhancing its global business visibility. In May 2024, Singular Medical was ranked on VCBeat’s "VBEF2024 Annual Healthcare Industry Innovation Product List"; in November 2024, the company was included in the "2024 China Biomedical Pioneers - Medical Device TOP100"; and in December 2024, it was named among the "Top 100 Innovative Index of Emerging Medical Device Companies in 2024" by the National High-Performance Medical Device Innovation Center, continuously injecting new vitality into industry development.

Singular MedicalSingular Medical Successfully Completes Series C Financing: An Important Milestone in Our Development JourneyThis marks the successful completion of our Series C financing, an important milestone in our development journey. We would like to express our gratitude to our investors for their trust and support, as well as to all employees for their hard work and to our partners for their strong assistance. As a technology company focused on CIED (Cardiac Implantable Electronic Devices), we fully understand that every heartbeat must be accurately identified and assessed, and every event must be correctly responded to and treated. We are extremely proud to see the outstanding clinical performance of our ICD and ICM products. Since the start of clinical studies, our products have monitored hundreds of millions of heartbeats, with "every beat" being precise. The diagnostic and therapeutic success rates of our ICDs rival those of top international medical device companies. Our products have already saved the lives of more than ten clinical patients outside of hospitals, earning high recognition from clinical experts at several top-tier hospitals in China. Meanwhile, our ICM product has demonstrated significant advantages in long-term monitoring and early diagnosis of arrhythmias, providing patients with comprehensive health management solutions, including home monitoring. Moving forward, we will continue to increase our R&D investment, accelerate our global expansion, and collaborate with industry partners to drive innovation and development in cardiac rhythm management technologies, bringing more hope and protection to patients!

Wang Chen, Managing Partner of Tasly Capital Holding (Beijing) Co., Ltd.Singular Medical: The implantable cardioverter-defibrillator (ICD), as an advanced cardiac medical device, has demonstrated outstanding clinical value in preventing sudden cardiac death and correcting malignant arrhythmias. This product, being an implantable device, integrates intelligent monitoring, diagnosis, and treatment functions. Due to the necessity for accurately identifying life-threatening arrhythmias such as ventricular tachycardia (VT) and ventricular fibrillation (VF), and precisely delivering high-voltage defibrillation shocks while maintaining low power consumption to ensure longevity, it has always been a technological pinnacle within the industry. Previously, the market was predominantly occupied by foreign products. After years of dedicated technical efforts, the Singular Medical team successfully completed the registration clinical trial for China’s first domestically produced ICD, which is expected to break the monopoly of imported products. Additionally, the company is developing a new generation of pacemakers on this technological platform and is at the forefront of the field of implantable arrhythmia management and treatment in China. Tasly Capital has consistently focused on this sector, and we are delighted to invest in Singular Medical this time. In the future, we will continue to fully support Singular Medical and the team led by Mr. Ping, serving Chinese patients suffering from malignant arrhythmias.

Zhang Ao, Partner of Qiming Venture PartnersRepresentation: The field of cardiovascular medical devices in China is highly competitive, but there are still untapped opportunities in the cardiac rhythm management segment. As a leader in China's cardiovascular medical device sector, Singular Medical has continued to gain market favor through its forward-looking strategies and core technological innovations. Since 2020, Qiming Venture Partners has invested in Singular Medical three consecutive times, witnessing the company successfully complete ICD and ICM clinical trials and continuously meeting the growing demand for cardiac rhythm management among Chinese patients. Qiming Venture Partners will continue to support Singular Medical’s independent innovation, hoping that the company will keep launching globally innovative products such as novel pacing systems, benefiting patients worldwide.

Suzhou New District Financial HoldingsStated: As a long-term shareholder who has accompanied the company's growth, we are delighted to witness Singular Medical, under the outstanding leadership of its founding team, continuously break through the "uncharted territory" of China's high-end medical devices – successfully developing "Anbo," the first domestically produced ICD product to be granted access to China's National Innovative Medical Device Fast-Track program.^®"In clinical trials, it has successfully treated more than ten patients with ventricular arrhythmia and built a full product matrix covering ICD, ICM, and dual-chamber pacemakers around the cardiac rhythm management sector. Singular Medical, with its globally oriented R&D system and clinically deep collaborative innovation model, has successively won recognitions from authoritative lists such as Forbes Asia Top 100 and Future Healthcare Top 100. Finally, we warmly thank and welcome the new shareholders. With the support of this round of financing, let us jointly look forward to Singular Medical becoming the leading enterprise in China's CRM."

HWealth Capital Founding Partner Wang HongweiRepresentation: The scale of China's CRM market is still less than 7% of the global market. Combined with the recent formation of expert consensus in specific clinical CRM diagnostic and treatment fields, China's CRM will have high-growth opportunities in potential product areas; Singular Medical has deeply cultivated in the CRM field, based on ICD R&D technology, achieved a layout of products such as globally leading new pacemakers, providing integrated solutions for heart failure and CRM management and treatment. It is worth noting that the company possesses highly efficient industrialization capabilities. Since HWealth Capital invested in Singular Medical at the end of 2022, the company has achieved a series of milestone events, including: ICD-Amp.^®Breaking through technical barriers, completed all clinical trial enrollments and follow-ups, and obtained the special review qualification for innovative medical devices from the National Medical Products Administration; ICM-Silu^®Pioneering the configuration of Bluetooth telemetry, it has submitted a Class III medical device registration application for market approval and obtained the special review qualification for innovative medical devices from the National Medical Products Administration (NMPA), among others. Based on this, the company’s development is on the verge of a boom, with significant scarcity due to high-end technical barriers and the difficulty of clinical trials.