Hengyu Medical Secures Over RMB 100 Million in New Funding to Accelerate Commercialization of Listed Products

Smart Medical Device Network News Recently, Horimed Technology Co., Ltd. (hereinafter referred to as "Horimed") announced the completion of a financing round exceeding 100 million yuan. This round was jointly invested by New Industry Investment, Hua Tai Zijin, Beiyang Haitang Fund, Jiuan Medical, and YuanSheng Ventures. Starbridge Capital served as the exclusive financial advisor. This financing will support research and development, production, registration, and focus on accelerating the commercialization process of already listed products.

Data shows that Horimed was founded in 2016, focusing on the research of optical and ultrasound medical imaging technology and laser ablation technology, providing a pan-vascular integrated solution based on imaging products. The company's core experts have been engaged in related field research for nearly 20 years; it has now applied for 174 patents, including 106 inventions, with 37 authorized invention patents.

In terms of product layout, Horimed possesses the currently mainstream intravascular imaging tools used in clinical practice, including Intravascular Ultrasound (IVUS) and Optical Coherence Tomography (OCT). These two technologies provide cross-sectional images of the coronary arteries for precise Percutaneous Coronary Intervention (PCI), including information on the lumen, vessel wall, plaque burden, plaque composition, and distribution.

The company possesses advanced functional OCT technologies, including endoscopic OCT technology, angiographic OCT technology, and polarization-sensitive OCT technology. Its core products, such as cardiovascular OCT equipment and optical imaging catheters, intravascular ultrasound (IVUS) systems, and imaging catheters, are all independently developed with proprietary intellectual property and core manufacturing processes.

However, from the perspective of clinical treatment, the penetration rate of OCT in China is still very low, at only 6% in 2023, far lower than Japan's 30%. The reason for this is that there are not many companies in China that master the core equipment and consumables technology of OCT and have the ability to scale production. Horimed Technology Co., Ltd. stated that in this aspect, the company is "one of the few Chinese manufacturers with these capabilities." Especially after the stent centralized procurement, it is expected to further promote the popularity of the company's OCT products.

As early as June last year, Horimed's Optical Coherence Tomography System HS200 was officially approved for marketing, offering comprehensive advantages in calcification identification, cortical evaluation, a brand-new 3D mode, compatibility with various flushing media, and AI algorithm reserves.

It is reported that intravascular imaging technology is a key support for the development of precision medicine, representing an important trend in the future diagnosis and treatment of cardiovascular diseases. As an essential component of precision medicine, intravascular imaging equipment is not only a necessary tool for complex cardiovascular surgeries but also a highly promising multi-billion-dollar track in the global medical market.

Gao Chao, Investment Director of Xingong Industrial Investment, stated: "In recent years, the development of precise diagnostic and treatment technologies for vascular intervention in China has been relatively rapid. Horimed focuses on the research, production, and sales of devices and consumables such as cardiovascular IVUS, OCT, and IVUS/OCT all-in-one machines. It is a leading company in China that possesses both ultrasound and optical technology platforms and continuously develops innovative products based on these platforms. The all-in-one machine independently developed by the company features high integration, cost efficiency, and diverse application scenarios, and has gained increasingly widespread recognition and adoption by medical institutions."

Hua Tai Zijin Investment Director Wang Qi stated: "In the complex and high-risk interventional treatment process for cardiovascular diseases, intravascular imaging technology is playing an increasingly important guiding role. A series of technologies, including IVUS and OCT, can bring excellent clinical benefits to patients."