Biolink Capital Portfolio Companies Zhenyi Medical and Ruidi Bio Awarded 2024 Global MedTech Innovation Awards; Both File IPO Prospectuses

2024 Global Medical Technology Innovation Award, a total of 20 innovative medical device companies worldwide were selected.

Among them, 9 overseas companies: Medtronic, Abbott, Boston Scientific, Intuitive Medical, Biosense Webster, Alcon, Biotronik, AEYE Health, Humacyte; and 11 in China: Mindray Medical, MicroPort Medical,Heart Power Medical, Venus Medtech,Trulive, Jia Shi Nuo De,Ruidi Biotech, Ansong Technology, Yongchuan Technology, Guiding Medical, Silicon-based Bionics.

Among whichTrulive、Hangzhou Ruidi Biotechnology Co., Ltd. is a portfolio company of Proxima Ventures.

Chinese Winning Enterprises (11)(The order is not ranked)

Trulive

Trulive was founded in 2019 as a comprehensive company focused on providing high-end interventional medical devices in the cardiovascular field, particularly addressing diseases with high mortality and disability rates and filling the gap in domestically produced solutions. The company’s operations cover four major disease areas: heart valves, heart failure, peripheral, and coronary. It is the only cardiovascular interventional platform-based enterprise in China specializing in solving blood flow direction issues. In May 2023, Trulive announced the completion of an over RMB 100 million Series B financing round.

Reason for Award:

In the field of cardiovascular diseases, Trulive has accumulated a large number of core technologies with strong innovation, high practicality, and independent intellectual property rights. To date, the company has applied for 240 patents, 80% of which are invention patents, with over 40 PCT international patents, and has more than 15 ongoing research projects. The company's Neo series transcatheter valve repair system is the first domestically produced product in China to enter the large-scale clinical stage and achieve the capability of repairing two valves with one catheter, which can be simultaneously applied to mitral and tricuspid valve repair treatments. In addition, the company’s edge-to-edge repair systems for mitral and tricuspid valves have both passed the special review for innovative medical devices by the Chinese government and have entered the registration approval stage.

In December 2024, DEEPQUAKE™, the peripheral intravascular shockwave system independently developed by Trulive, was approved for marketing by the National Medical Products Administration (NMPA). This is the second domestically produced product of its kind to be approved by China's regulatory authority and the third peripheral intravascular shockwave product to be launched globally.

Related Reading:Approved for Marketing! China-Made Peripheral Vascular Intravascular Shockwave System

Ruidi Biotech

Hangzhou Ruidi Biotechnology Co., Ltd. ("Ruidi Biotech"), established in 2014 by returned PhDs from Europe and the United States, possesses internationally leading nanosecond pulsed electric field technology, which can be widely applied in the fields of tumor ablation, cardiovascular, and brain-computer interface. To date, it is the only domestic enterprise in this field to have received the "China-US Dual Innovation" recognition.

Reason for Winning：

Hangzhou Ruidi Biotechnology Co., Ltd. has continuously secured more than ten National Natural Science Foundation grants and several major national science and technology projects, thanks to its globally leading next-generation pulsed electric field ablation technology platform and hardware-software co-development capabilities.In November 2024, the NMPA approved the registration applications for two innovative products from Hangzhou Ruidi Biotechnology Co., Ltd.: the "Steep Pulse Treatment Device" and the "Single-Use Steep Pulse Ablation Needle."Ruidi Biotech's nanosecond steep pulse ablation system is the world's only malignant tumor ablation product to have received dual innovative channel certifications from both China and the United States (as of December 2024).

The陡脉冲治疗设备 consists of a main unit, an electric suspension arm mechanism, and a foot pedal switch. It is used in conjunction with disposable陡脉冲消融针 and connecting cables. The device employs a nanosecond high-voltage pulse electric field generator, utilizing linear modulation technology to store energy through a pulse-forming network and generate pulses. It is characterized by high electric field intensity and short pulse width, making it the first of its kind in China. Compared to foreign competitors, the electric field intensity is increased by an order of magnitude, and the pulse width is compressed by 2-3 orders of magnitude.

Related Reading:Approved Innovative Medical Devices! Two陡 Pulse Ablation Products

Source | Siyu MedTech